Report Overview:
The Global Genomics Market was Valued at USD 19.9 Billion In 2020, and it is Expected to Reach USD 54.9 Billion By 2027, With a CAGR of 15.5%, During The Forecast Period (2021-2027). A genome is a complete set of DNA in an organism's body that inevitably involves all its genes. Genomics is a field of biology that focuses on structure, function, evolution, mapping, and genome editing. The study of genomics aims to classify and quantify the totality of the genes of all organisms, their interrelationships, and their effects on organisms.
Prime factors for the growth of the genomics market include increasing incidence of cancer and expanding application of NGS in cancer research, expansion of public funding to support projects genes, the entry of new players in the genomics market. In the coming years, prenatal genetic screening programs tend to grow at a remarkable rate. Surely these programs will help pregnant women recognize chromosomal abnormalities in the fetus. Moreover, the growth in the personalized medicine market is expected to present many opportunities for active players in the genomics market. Personalized medicine allows healthcare professionals to identify the exact needs of their patients, and then treat patients accordingly. Thus, many pharmaceutical companies are increasingly investing in personalized drug research. However, factors such as the high cost of genomic equipment, lack of skilled professionals, and lack of space to secure large amounts of sequence data can pose challenges for market growth.
The Global Genomics Industry Segmentation:
By Deliverable
By Technology
By Application
By End-users
By Region
The unique insight provided by this report also includes the following:
Based on deliverables, the consumables type segment is expanding at the highest growth rate during the period 2021-2027.
Among all the types of deliverable, the consumables segment is anticipated to hold the largest market share in the forecasted period from 2021 to 2027. The market is primarily driven as consumables are employed in large amounts in genomic systems and their usage will continue to amplify with the rise in genomic tests being performed across the globe.
Based on the technology, sequencing technology accounted for the largest market share in 2020.
The sequencing technology segment dominated the genomics industry. The sequencing technology provides the advantages such as scalability, ultra-high-throughput, and high speed helps researchers to execute and analyze a broad variety of applications such as human genomics, agriculture, and animal breeding.
Based on the application, the drug discovery and development application accounted for the largest share in the genomics market.
Key factors such as expanding research on diseases such as cancer and genetic disorders and the decreasing cost of sequencing are anticipated to drive the drug discovery and development application segment and thus the drug discovery and development segment is expected to hold the largest market share in the forecast period.
Based on the end-user, the hospitals & clinics accounted for the largest market share
By end-users, the hospitals and clinics segment accounted for the largest market shares in the year 2020. Genomic technologies are experiencing a huge drift from the biotechnological and pharmaceuticals industry due to the increasing level of genetic research studies and tests thus driving the market.
Geographically, North America accounted for the largest share in 2020
North America held more than 35% of the share in the global Genomics market in 2020. This dominance of the market is majorly credited to the factors such as a high number of strategic partnerships, rising research programs, and an increase in regulatory approvals by the U.S. FDA.
Additionally, Asia Pacific is expected to drive the genomics market at the highest pace owing to its initiation in varied research programs.
Company Profiles and Competitive Intelligence: The major players operating in the global Genomics market are, Bio-Rad Laboratories, Inc., Thermo Fisher Scientific, Inc., Oxford Nanopore Technologies, Danaher Corporation, Agilent Technologies, Inc., F. Hoffmann-La Roche Ltd., Beijing Genomics Institute (BGI), GE Healthcare, Pacific Biosciences of California, Inc., and Myriad Genetics, Inc., among others.
The report also provides an in-depth analysis of genomics market dynamics such as drivers, restraints opportunities, and challenges
Drivers
Opportunities
Challenges
Trends
COVID-19 Impact on the Genomics Market Analysis
The outbreak of COVID-19 has greatly affected the Genomics industry. The genomics industry got a boom in this pandemic as to study, analyze, share, and generate more and more data to interpret determinants of COVID-19 outcomes, severity, and vulnerability. Currently, there is constant research study going on to analyze the genomic structure, function, and impact of the SARS-CoV-2 genome using immunogenomic analysis on the samples obtained from COVID patients.
The report also provides an in-depth analysis of key trends in the Genomics market
| Sr. No. | Trends | Impact |
| 1 | Increasing need for data generation, analysis, and sharing of structured genomic data for SARS-CoV-19 | Positive |
| 2 | Advancements in technologies and adoption of those technologies in healthcare industries to determine abnormalities in fetus and surge in awareness of other prenatal developments tests | Positive |
| 3 | Significant entries of new players in the industry | Positive |
The report also provides an in-depth analysis of recent news developments and investments
Company Profiles and Competitive Intelligence
The key players operating in the market are:
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