Genomics Market is Witnessing Phenomenal Growth by 2025 – Thermo Fisher Scientific, Illumina, Eurofins, Qiagen, BGI, Agilent Technologies

The global genomics market is expected to reach US$ 32,995.3 Mn in 2025 from US$ 14,728.6 in 2017. The market is estimated to grow with a CAGR of 10.8% from 2018-2025.

The market for genomics is expected to grow as growth in investments & funds for genomics, declining cost of sequencing procedures, increasing number of start-up companies, technological advancements in genomics are expected to fuel the market growth during the forecast period. In addition, the technologies of genomics are likely to have a positive impact on the growth of the market in the coming years.

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Sequencing Segment is expected to grow the Market for Genomics over the Forecast Period for Technology Segment.

Global genomics market, based on technology was segmented into sequencing, microarray, PCR, nucleic acid extraction and purification, and others. In 2017, sequencing segment held the largest share of the market, by technology. Moreover, the sequencing segment held the largest share of the market owing to its variant libraries, genes, operons, increase the function of proteins, and to test the particular gene. However, the microarray segment is expected to grow at the fastest rate during the coming years.

The major players operating in the genomics market include Thermo Fisher Scientific Inc., Illumina Inc., and Eurofins, Qiagen, Agilent Technologies, BGI, Bio-Rad Laboratories, Inc., F. Hoffmann-La Roche AG, Danaher, and GE Healthcare.

For instance, in October 2018, Roche launched the three new next-generation sequencing (NGS) AVENIO Tumor Tissue Analysis Kits, the AVENIO Tumor Tissue Targeted Kit, Expanded Kit and Surveillance Kit. The kits detect all four mutation classes in solid tumours, complement Roche’s NGS ctDNA kits for oncology research. The developments performed by the companies are helping the market to grow in the coming years.

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The report analyzes factors affecting genomics market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South & Central America after evaluating political, economic, social and technological factors effecting the market in these regions. The report also includes the profiles of key genomics manufacturing companies along with their SWOT analysis and market strategies.

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Posted by on Thursday August 22 2019, 2:01 AM EDT. All trademarks acknowledged. Filed under Biotechnology, Business Services, Diagnostics, Healthcare, Medical Devices, Pharmaceuticals. Comments and Trackbacks closed. Follow responses: RSS 2.0

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