Press Release

Genomics Market Expanding with Technological Drive of Pharmaceutical Companies

Global Genomics Market Size, Share, Industry Analysis, Trends, Demand, Growth Opportunity, Regional Outlook

The use of genomics is expanding in the medical industry, which is creating growth opportunities for the Global Genomics Market. Fortune Business Insights in a new report, titled Genomics: Global Market Analysis, Insights and Forecast, 2019-2026 offers valuable insights into the factors enabling growth in the market.

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Key players leading the Global Genomics Market include

  • Thermo Fisher Scientific Inc.,
  • Oxford Nanopore Technologies,
  • Agilent Technologies, Inc.,
  • IntegraGen,
  • QIAGEN,
  • BGI
  • Danaher,
  • Illumina, Inc.,
  • Hoffmann-La Roche Ltd,
  • include Next-generation Sequencing (NGS),
  • Sanger sequencing,
  • Polymerase Chain Reactions (PCR)

The gradual shift from traditional medicine to precision medicine is positively changing the healthcare environment. Genomics plays a crucial role in the treatment and diagnosis of chronic diseases.

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Genomics Market is most commonly used for the diagnosis of cancer. Recent advancements in personalized medicine and genomics have bought significant transformations in disease management. The growing use of genomics in several clinical trials is reflecting a growing trend. Consequently, The Global Genomics Market is expected to rise at an exponential CAGR of 18.7% between 2018 and 2026. In 2018, the market was valued at US$ 15,888.8 Mn and it is anticipated to reach US$ 62,614.6 Mn by 2026.

Adoption of Advanced Technologies Renders North America Dominant

From a geographical standpoint, North America dominated the global genomics market in 2018. The region will continue to maintain its dominance through the forecast period. Rapid technological advancements and the presence of sophisticated healthcare infrastructure are driving the market in this region. In 2018, North America was valued at US$ 6,959.3 Mn. The demand for genomic medicine is increasing in North America on account of the rising adoption of personalized medicine and new sequencing technologies.

Europe is expected to display great growth potential owing to the wide availability of funds and the presence of large MNCs. Governments in the U.K. is increasingly making investments in research and development (R&D) activities to favour the expansion of the market in Europe.

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A Myriad of R&D Activities Has Spurred Growth Prospects for Genomics Market

“Several services and start-up companies are paving their way into genomics industry by offering services which include ancestry services, direct-to-customer genomic services, among others,” stated a lead analyst at Fortune Business Insights. “Rising support from governments regarding research and funding is expected to contribute to the growth of the market,” he added. Several genomic institutes are supporting the industry by granting funds for performing research and development activities. Stanford healthcare uses genomic information to develop a personalized treatment for patients suffering from chronic illness.

Segmentation

By Product Type

  • Reagents
  • Kits
  • Enzymes
  • Others

By Technology

  • DNA Methylation
  • Histone Methylation
  • Histone Acetylation
  • MicroRNA Modification
  • Large Non-coding RNA
  • Chromatin Structures
  • Others

By Application

  • Pharmaceutical
  • Diagnostics

By Geography

  • North America (USA and Canada)
  • Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
  • Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
  • Latin America (Brazil, Mexico and Rest of Latin America)
  • Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)

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