Press Release

Genomics Market Expanding with Technological Drive of Pharmaceutical Companies

Global Genomics Market Size, Share, Industry Analysis, Trends, Demand, Growth Opportunity, Regional Outlook, & Forecast 2018-2026

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)

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.

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The lower costs of genetic procedures is likely to contribute to the development of the genomic market in the forthcoming years. Technological advancements in genomic medicine which include Next-generation Sequencing (NGS), Sanger sequencing, Polymerase Chain Reactions (PCR), and microarray are likely to drive the market. Of these, Polymerase Chain Reactions (PCR) covered the maximum share in the global market in 2018. The easy availability and extensive use of this technology are responsible for this segment’s growth. Owing to the increasing number of genetic studies, the demand for genomics is expected to fuel in healthcare facilities & diagnostic centers, Contract Research Organization (CROs) and others.

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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The market in Asia Pacific is likely to witness strong growth during the forecast years. The primary factor responsible for the growth is developing healthcare infrastructure. The awareness about genomic technologies is increasing in countries such as India and China, as people in these countries are becoming more aware with regards to the detection of genetic disorders, their treatment and prognosis. All these factors are enabling growth in the market.

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

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Dale Martinez

Dale possesses an engineering degree in Electronics from the Georgia Institute of Technology. She is the sole contributor at the Healthcare IT column. Before opting to write, Dale worked at major firms such as Microsoft, Amazon, GE, Raytheon, and so on. She possesses vast knowledge about a variety of fields like IT, IoT, Telecommunications, Health Dialysis, photovoltaic, and many others. Dale is also a ballet dancer.

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