The Genomics Market is being driven by Rising investments in genomics research and development
The Genomics Market is expected to grow at a CAGR of 3.16% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 5.21 billion. The Human Genome Project (HGP) has significantly advanced our understanding of genomics structure, paving the way for next-generation genetic testing technologies. These advancements have equipped market vendors with essential tools for organizing comprehensive human genome sets and deciphering genetic functionalities and structures. Next-generation sequencing (NGS) technologies have revolutionized genetic research by enabling large-scale sequencing across the human genome, facilitating the detection of mutations and gene variants associated with diseases or disorders. Moreover, NGS has drastically reduced the cost of sequencing, leading to a paradigm shift in the global genomics market by making genomics analysis and database management more affordable.
Get more information on Genomics Market by requesting a sample report
The market is segmented based on
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
Rich Experience: 20+ years leading global market research, trusted insights across industries.
Unlock Business Potential with Technavio: Maximize ROI with Technavio's tailored market research: deep dives and actionable insights.
Your Guide to Market Success: Empower your business with Technavio's market research and future-proof your decisions.
Market Scope |
|
Report Coverage |
Details |
Page number |
167 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.16% |
Market growth 2024-2028 |
USD 5.21 billion |
Market structure |
fragmentation |
YoY growth 2023-2024(%) |
2.5 |
Key countries |
US, UK, Germany, France, China, Canada, India, South Korea, Japan, Brazil, Italy, UAE, US, UK, Germany, France, and China |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Find out which segment is leading the market by accessing the free PDF report
The Genomics Market encompasses innovative technologies and applications, including single-cell sequencing, liquid biopsy, analysis of genetic variants and mutations, copy number variations, genome assembly, annotation, and interpretation. Clinical validation is crucial for disease prevention through genetic counseling and population genomics, evolutionary genomics, synthetic biology, gene synthesis, and genome engineering. Informed consent, data security, and ethical considerations are paramount. Big data analytics, cloud computing, AI, machine learning, deep learning, and predictive modeling facilitate advanced genomic medicine.
The Genomics Market is a significant segment of the expansive Global Life Sciences Tools and Services Market. This market encompasses organizations involved in the research and development (R&D) of various product categories, such as capital equipment, instruments, accessories, and consumables, utilized for R&D on pharmaceuticals and biotechnology products, as well as laboratory diagnosis of diverse diseases. Furthermore, it covers life sciences-related services, including contract research, contract manufacturing, and contract sales. According to Technavio's market analysis, the global healthcare industry encompasses the revenue generated by manufacturers of equipment, supplies, pharmaceuticals, biotechnology, and life sciences tools and services. Key technologies driving the Genomics Market include genome sequencing, gene editing, DNA sequencing, RNA sequencing, and exome sequencing.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
Safe and Secure SSL Encrypted