The global “Genomics Market Size” is projected to reach USD 62614.6 million by 2026. Genomics has successfully transformed the way of preventing, managing and treating diseases. Researchers at the University of Paris-Saclay believe that we have entered into the third revolution of sequencing technology in the world of genetics. Moreover, several companies are planning to build third-generation sequencing technology to stay abreast of new trends. As per a recent report published by Fortune Business Insights, titled “Genomics Market Size, Share and Industry Analysis By Type (Products, Services), Technology (Polymerase Chain Reaction, Next-generation Sequencing, Microarray, Sanger Sequencing), Application (Diagnostics, Research), End-User (Research Institutes, Healthcare Facilities & Diagnostic Centers, Pharmaceutical & Biotechnological Companies, Contract Research Organization (CROs)) & Regional Forecast, 2019 – 2026,” the market value stood at USD 15888.8 million in 2018 and is anticipated to exhibit an exponential CAGR of 18.7% during the forecast period.
Highlights of the Report:
- In-depth analysis of various insights, namely, Market trends, growth drivers, opportunities, and other related challenges.
- Comprehensive details of key market players, their core competencies, and Market share.
- The potency of suppliers and buyers to make better business decisions.
- Lists out the market size in terms of volume.
For more information in the analysis of this report, visit: https://www.globenewswire.com/news-release/2019/12/09/1957615/0/en/Genomics-Market-to-Exhibit-a-Stellar-CAGR-of-18-7-Demand-for-Genomic-Products-to-Augment-Owing-to-Increasing-Number-of-Product-Launches-Fortune-Business-Insights.html
Key Players Operating in The Market Include:
Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the industry are:
- Thermo Fisher Scientific Inc.
- Oxford Nanopore Technologies
Request a Sample Copy of the Research Report: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/genomics-market-100941
Advancements in Bioinformatics to Boost the Market in North America
Among regions, North America is anticipated to emerge dominant in the global genomics market throughout the forecast years. In 2018, the market value stood at USD 6959.3 million. This is ascribable to the rising focus on pharmacogenomics and technological advancements in bioinformatics. This, coupled with increasing adoption of new sequencing technologies, will create growth opportunities for the market in this region. Rising preference for personalized medicines is another factor responsible for the dominance of market in this region.
Apart from North America, the market in Europe is expected to exhibit a higher CAGR owing to the robust support from governments, especially in the U.K. Asia Pacific is expected to hold a considerable genomics market share over the projected horizon. Factors such as increasing the aging population, high demand for genetic sequencing in China, and expansion of healthcare system are positively impacting the genomics market growth in this region.
Helix’s New DNA Studio to Aid in Expansion of the Market
Genomics has proved to be successful in the diagnosis of chronic diseases such as cancer. Owing to the increasing prevalence of cancer around the world, the demand for genomics products and services is expected to increase in the forthcoming years. As per the recent genomics market trends, product segment is expected to lead the market in the forecast years. The growth is attributable to the rising use of consumables and increasing number of product launches. For instance, a personal genomics company called Helix announced the launch of a new DNA product studio in October 2018. The aim of this launch is to build and distribute DNA products, thereby benefitting hundreds and thousands of people who want to know how DNA plays a crucial role in wellness and health.
More Trending Topics from Fortune Business Insights: