The global genomics market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. In 2022, North America accounted for the largest market share, followed by Europe and the Asia Pacific. The large share of North America can primarily be attributed to the increasing research funding and government initiatives for promoting precision medicine and the presence of prominent players in the US.
The global genomics market in
terms of revenue was estimated to be worth $46.2 billion in 2023 and is poised
to reach $83.1 billion by 2028, growing at a CAGR of 12.4% from 2023 to 2028.
Download PDF Brochure: -https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=613
North America accounted for the largest share
of the genomics market in 2022. Favorable initiatives by government and private
bodies for the development and adoption of genomics, wide adoption of NGS and
PCR-based diagnostics in the region, an increasing number of genomics startups
in the region, growing research on cancer, rising awareness of genomics
services, and the presence of prominent players in the genomics market, such as
Illumina, Inc. (US), Thermo Fisher Scientific, Inc. (US), and Danaher
Corporation (US), are driving the growth of the genomics market in North
America.
US dominates North American genomics market.
In the past two decades, genomics has evolved
as a scientific research discipline. Fueled by grants and funds from government
institutes, the genomics market has witnessed tremendous changes on the
technological front. Government institutes such as the Centers for Disease
Control and Prevention (CDC), the National Institutes of Health (NIH), and the
National Human Genome Research Institute (NHGRI) have provided funds and grants
to support research in the genomics field. Recent developments in this regard have
been listed below:
n In September 2022, the Centers for Disease Control and Prevention
(CDC) announced five-year funding of USD 90 million for the purpose of
fostering and improving innovation and technical capacity in pathogen genomics.
n In August 2022, the Medical Device Innovation Consortium (MIDC)
launched the Somatic Reference Samples (SRS) Initiative to improve the accuracy
of NGS-based cancer diagnostics. MIDC will lead the collaboration with the
SFDA, the National Institute of Standards and Technology (NIST), and the
National Institutes of Health (NIH) to manufacture, validate, and distribute
SRS to simplify and support the validation of NGS technology for cancer
diagnostics.
n The National Institutes of Health (NIH) initiated the All of Us
Research Program to sequence the genomes of over one million people living in
the US. The program is a key component of the Precision Medicine Initiative,
which began national enrollment in 2018 and is expected to last at least 10
years till 2028.
n The NIH’s All of Us Research Program provided funding of USD 28.6
million to establish three genomic centers in the US to accelerate precision
medicine discoveries.
Key players in the genomics market are
adopting several strategies for developing advanced products and providing
efficient genomics solutions to their customers. For instance,
n In August 2022, OpGen, a US-based molecular microbiology solutions
provider, launched an NGS-based service to support public health. The service
is aimed at clinical microbiologists and specialists in public health and
infection prevention and control. The vision behind this service is to support
the need for surveillance, infection prevention, and antibiotic stewardship.
n In March 2022, Aadi Bioscience (US) collaborated with multiple
genomic testing companies, including Foundation Medicine (US) and Tempus (US),
to accelerate the identification of advanced cancer patients with Tuberous
Sclerosis Complex 1 and 2 (TSC1 and TSC2) inactivating alterations.
n In January 2022, New England Biolabs (US) partnered with Singular
Genomics Systems (US) to validate its NEBNext kits, a product line for both DNA
and RNA sample prep, with the G4 sequencing platform. NEBNext kits are designed
and quality controlled to improve yields and library diversity, using a broad
range of input amounts from a wide variety of sample types.
n In June 2021, QIAGEN (Germany) partnered with Verogen (US) to
deliver innovative solutions for human identification laboratories. The
partnership will provide laboratories with superior tools and comprehensive
support for implementing NGS human identification workflows.
n In 2021, Illumina (US) collaborated with Helix (US) to improve the
national surveillance infrastructure in the US to track the emergence and
prevalence of novel strains of SARS-CoV-2 with support from the CDC. Illumina’s
sequencing technology and expertise and Helix’s national COVID-19 testing
footprint will significantly expand the country’s existing surveillance efforts
to detect and characterize emerging variants of SARS-CoV-2.
Inquiry Before Buying: -https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=613
The US is a well-developed market for genome
analysis techniques that are primarily used in clinical applications by
healthcare professionals (such as pathogen detection, disease diagnosis, and
DNA identification) and research applications by life science researchers (such
as genomics and molecular research). Growing funding to support precision
medicine and the increasing adoption of several strategies by key players are
expected to drive the genomics market in the US.
Top Key Players:
Key players in the genomics Market include Illumina,
Inc. (US), Thermo Fisher Scientific, Inc. (US), Danaher Corporation (US),
Agilent Technologies, Inc. (US), and PerkinElmer Inc. (US),
No comments:
Post a Comment