Factors such as the rising government funding and growth in the number of genomics projects, decreasing sequencing costs, growing application areas of genomics, and the entry of new players and start-ups in the genomics field are driving the growth of the genomics market during the forecast period.
The report Genomics Market is projected to
reach USD 35.7 billion by 2024 from USD 18.9 billion in 2019, at a CAGR of
13.5% during the forecast period.
Ask
for Free PDF Brochure:-https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=613
Market
Segmentation:-
Based on product
& service, the genomics market is segmented into consumables, systems &
software, and services. In 2018, the consumables segment accounted for the
largest share of this market majorly due to the repeated use of consumables for
genomic experiments and the increasing number of research programs by academic
institutes and non-profit organizations.
By technology, the
genomics market is segmented into sequencing, microarray, PCR (polymerase chain
reaction), nucleic acid extraction and purification, and other technologies
(such as branched DNA analysis, single-cell genomic analysis, and flow
cytometry).
Based on application,
the genomics market is segmented into diagnostics, drug discovery and
development, personalized medicine, agriculture and animal research, and other
applications (such as forensics and biofuel research).
Market
Drivers: –
1 Rising Government Funding and Growth in the Number of Genomics Projects
2 Decreasing Sequencing Costs
3 Growing Application Areas of Genomics
4 Entry of New Players and Start-Ups in the Genomics Market
Regional
Analysis:-
In 2018, North
America was the largest regional market for genomics. The large share of North
America in the global genomics market can be attributed to the increasing
research funding and government initiatives for promoting precision medicine
and the use of GM crops in the US. The Asia Pacific market, on the other hand,
is expected to register the highest CAGR during the forecast period.
Request
for Free sample Pages :-https://www.marketsandmarkets.com/requestsampleNew.asp?id=613
Top
key Players:-
Thermo Fisher
Scientific, Inc. (US), Illumina, Inc. (US), QIAGEN N.V. (Netherlands), Agilent
Technologies, Inc. (US), Eurofins Scientific (Germany), BGI (China), GE
Healthcare (US), Bio-Rad Laboratories, Inc. (US), F. Hoffmann-La Roche Ltd.
(Switzerland), and Oxford Nanopore Technologies (UK) are the key players
operating in the genomics market.
No comments:
Post a Comment