LONDON--(BUSINESS WIRE)--The global genomics market size is poised to grow by USD 17.23 billion during 2020-2024, progressing at a CAGR of almost 13% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
The rising focus on the use of a reference-based approach in genomic research has resulted in the high demand for the creation of accurate and complete genetic databases focused on humans, microbes, viruses, plants, and animals. Moreover, these databases have helped researchers and healthcare practitioners in understanding genetic structures, anomalies, and disorders through the identification of genomic variants. This, in turn, has led the development of novel genetic applications such as pharmacogenomics, consumer genetics, targeted therapeutics, targeted gene editing, DNA fingerprinting, and neonatal genetic screenings. Additionally, both public and private sector organizations are increasingly focusing on the creation and upgradation of genomic repositories, which has increased the demand for products and services offered in the market in focus. This will significantly influence the growth of the genomics market during the forecast period.
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Report Highlights:
- The major genomics market growth came from the products segment. The products segment covers the instruments and consumables used in genomic research and testing. This has led to the growing focus of vendors on offering advanced products with a variety of features, such as the LIMS compatibility feature, automation capability (including automated sample loading, purification, sequencing, and analysis), high throughput capability, and multiple read and run mode options, has led to the introduction of a diverse range of instruments in the global genomics market.
- Asia will offer several growth opportunities to market vendors during the forecast period. The increasing focus on improving healthcare offerings and the significant support from governments in establishing advanced genomic research infrastructure will significantly influence the growth of the genomics market share in this region.
- The global genomics market is concentrated. Agilent Technologies Inc., BGI Genomics Co. Ltd., Bio-Rad Laboratories Inc., Danaher Corp., F. Hoffmann-La Roche Ltd., General Electric Co., Illumina Inc., PerkinElmer Inc., QIAGEN NV, and Thermo Fisher Scientific Inc. are some of the major market participants. To help clients improve their market position, this genomics market forecast report provides a detailed analysis of the market leaders.
- As the business impact of COVID-19 spreads, the global genomics market 2020-2024 is expected to have Neutral and At par growth. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.
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Growing Adoption of Single Cell-based Genomic Analysis will be a Key Market Trend
Genomic analysis at a single-cell allows researchers to examine the sequence information from individualized cells by providing precise measurements, high resolution of cellular differences, and improved understanding of cell functioning. Advances in genomic technologies, such as sample enrichment, molecular indexing, NGS, and dPCR have also enabled the researchers to easily extract and isolate genetic materials from a single-cell and efficiently perform genomic analysis. The growing adoption of single-cell based genomic analysis is one the key genomics market trends as it helps in the understanding of cell-to-cell variability for cancer research. Single-cell based cancer DNA sequencing is widely used for examining the depth of the complexity and compound mutations present in amplified therapeutic targets such as EGFR.
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Genomics Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist genomics market growth during the next five years
- Estimation of the genomics market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the genomics market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of genomics market vendors
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PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
- Preface
- Currency conversion rates for US$
PART 03: MARKET LANDSCAPE
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Value chain analysis
PART 04: MARKET SIZING
- Market definition
- Market sizing 2019
- Market size and forecast 2019-2024
- Market outlook
PART 05: FIVE FORCES ANALYSIS
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
PART 06: MARKET SEGMENTATION BY SOLUTION
- Market segmentation by solution
- Comparison by solution
- Products - Market size and forecast 2019-2024
- Services - Market size and forecast 2019-2024
- Market opportunity by solution
PART 07: CUSTOMER LANDSCAPE
PART 08: GEOGRAPHIC LANDSCAPE
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- Asia - Market size and forecast 2019-2024
- ROW - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity
PART 09: DECISION FRAMEWORK
PART 10: DRIVERS AND CHALLENGES
- Market drivers
- Market challenges
PART 11: MARKET TRENDS
- Growing adoption of single cell-based genomic analysis
- Advances in sequencing technologies
- Growing developments in precision medicine and gene therapy
PART 12: VENDOR LANDSCAPE
- Overview
- Landscape disruption
- Competitive scenario
PART 13: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Agilent Technologies Inc.
- BGI Genomics Co. Ltd.
- Bio-Rad Laboratories Inc.
- Danaher Corp.
- F. Hoffmann-La Roche Ltd.
- General Electric Co.
- Illumina Inc.
- PerkinElmer Inc.
- QIAGEN NV
- Thermo Fisher Scientific Inc.
PART 14: APPENDIX
- Research methodology
- List of abbreviations
- Definition of market positioning of vendors
PART 15: EXPLORE TECHNAVIO
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