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 offer market vendors essential tools for managing comprehensive human genome sets and deciphering genetic functionalities and structures. Next-generation sequencing (NGS) technology has revolutionized genetic research by enabling large-scale, cost-effective sequencing of the entire human genome. This innovation allows for the detection of mutations and gene variants associated with diseases or disorders, reducing the cost of sequencing and revolutionizing the global genomics market. NGS has become a game-changer by providing an affordable solution for genomics analysis and database management.
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 |
market_structure.ucfirst |
|
YoY growth 2023-2024(%) |
2.5 |
|
Key countries |
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 Global Genomics Market is experiencing significant growth due to advancements in Artificial Intelligence (AI) and Next-generation Sequencing (NGS) technologies. Companies like Complete Genomics, Eurofins Scientific, PCR Biosystems, and Trivitron Healthcare are leading this revolution. Chronic diseases, genetic disorders, and rare disorder diagnoses are being addressed through personalized medicine, gene therapy, and synthetic biology. Ethical issues surrounding CRISPR technology and genetic variation are under scrutiny. Multi-omic-based approaches, including DNA and RNA sequencing, biomarker discovery, and genomic diagnostics, are driving innovation in cancer genomics, disease genomics, and genetic screening. Trained professionals use advanced tools like flow cytometry, gene chips, and genome mapping for DNA methylation and single-cell genomics analysis. Precision medicine and pathway analysis are also key areas of focus.
The global genomics market is a significant segment of the expansive life sciences tools and services market, as per Technavio's classification. This market encompasses organizations involved in the research and development (R&D) of various product categories, such as capital equipment, instruments, accessories, and consumables. These products are utilized for the advancement of pharmaceuticals and biotechnology, as well as laboratory diagnosis of chronic diseases. Additionally, the market includes life sciences-related services, including contract research, contract manufacturing, and contract sales. The global healthcare industry's size is determined by Technavio by aggregating the revenues generated by manufacturers of equipment, supplies, pharmaceuticals, biotechnology, and life sciences tools and services. Artificial Intelligence (AI) and ethical issues are emerging trends in the genomics market, with companies like Complete Genomics and Eurofins Scientific leading the charge in innovation while addressing ethical concerns.. 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
One user only.
Quick & easy download option
Unlimited user access (Within your organization).
Complimentary Customization Included
*For Enterprise license, go to checkout page
Get the report (PDF) sent to your email within minutes.
