According to a report,“Genomics Market Size, Share & Trends Analysis Report By Deliverables, By Application & Technology (Functional Genomics, Epigenomics), By End Use (Pharma & Biotech Companies), And Segment Forecasts, 2019 – 2025”, published by Grand View Research, Inc., the global genomics market size is expected to reach USD 27.6 billion by 2025. The market is projected to expand at a CAGR of 9.1% over the forecast period. The past decades have witnessed significant changes in disease management processes due to simultaneous advancements in genomics and personalized medicine. There has been a gradual growth in the usage of genomic studies in clinical practices, which is reflected by the rising trend of targeted therapies.
Key Takeaways from the report:
Growing interest of pharma and biotech companies in genomics is expected to drive the genomics market in coming years
NGS-based services held a major share of the market due to its rapid adoption in whole genome sequencing and application of sequence databases for disease screening and prognosis
The demand for these services would remain strong due to growing customer base from academic and research centers to CROs and biotech and pharma companies
Use of predictive biomarkers for diagnosis and monitoring takes cancer eradication a step further
Moreover, various organizations and programs are actively participating in the development of novel biomarkers for cancer diagnosis
With the rising health consciousness Direct-To-Consumer (DTC) laboratory testing is increasingly being employed. Such genetic tests enable consumers to access information about their genetics without having to visit healthcare professionals
Asia Pacific is the potential regional market for genomics. It is anticipated to expand at the highest CAGR of 11.2%
Major companies in the market include Beijing Genomics Institute (BGI); Agilent Technologies; Thermo Fisher Scientific, Inc.; Bio-Rad Laboratories, Inc.; Foundation Medicine, Inc.; 23andMe, Inc.; Danaher, Illumina, Inc.; Pacific Biosciences; Oxford Nanopore Technologies; F. Hoffmann-La Roche Ltd.; and Myriad Genetics, Inc.
Browse More Reports in Biotechnology Industry:
Results from genomic studies enable a better understanding of diseases and the underlying mechanisms for researchers, physicians, and patients. This facilitates evidence-based decision-making, and hence, helps improve personalized treatment regime. In addition, technological advancements in data analysis tools have motivated healthcare community to create precision-based therapies from surplus, available DNA data.
One of the most important factors, which are likely to have a significant impact on the market, is that how much and to what extent the medical community will make the use of available genomic information in personalized medicine. Furthermore, plummeting cost of sequencing has enabled the whole genome sequencing at very less price. Scientists are combining the sequencing generated data with diagnostics, which has proven its effectiveness in enhancing personalized treatment landscape.
The companies are involved in strategic alliances with global, as well as local, entities to boost their revenue generation and enhance their share in the market. For instance, in March 2017, Foundation Medicine collaborated with Bristol-Myers Squibb Company. This enabled Bristol-Myers Squibb to deploy Foundation Medicine’s molecular information solutions and comprehensive genomic profiling for identification of predictive biomarkers, such as Microsatellite Instability (MSI) and Tumor Mutational Burden (TMB), to accelerate its immunotherapy clinical trials.
Grand View Research has segmented the global genomics market on the basis of deliverables, application & technology, end use, and region:
Genomics Deliverables Outlook (Revenue, USD Million, 2014 – 2025)
Products
Instruments/Systems
Consumables/Reagents
Services
Core Genomics Services
NGS-based Services
Biomarker Translation Services
Computational Services
Others
Genomics Application & Technology Outlook (Revenue, USD Million, 2014 – 2025)
Functional Genomics
Transfection
Real-time PCR
RNA Interference
Mutational Analysis
SNP Analysis
Microarray Analysis
Epigenomics
Bisulfite Sequencing
Chromatin Immunoprecipitation (ChIP-Seq)
Methylated DNA Immunoprecipitation (MeDIP)
High Resolution Melt (HRM)
Chromatin Accessibility Assays
Pathway Analysis
Bead-based Analysis
Proteomics Tools (2-D PAGE; yeast 2-hybrid studies)
Biomarker Discovery
Mass Spectrometry
Statistical Analysis
Bioinformatics
DNA Sequencing
Genomics End-use Outlook (Revenue, USD Million, 2014 – 2025)
Clinical Research
Academic and Government Institutes
Hospitals and Clinics
Pharmaceutical and Biotechnology Companies
Other End Users
Genomics Regional Outlook (Revenue, USD Million, 2014 – 2025)
North America
U.S.
Canada
Europe
Germany
U.K.
Asia Pacific
Japan
China
Latin America
Brazil
Middle East and Africa (MEA)
South Africa
Explore the BI enabled intuitive market research database, Navigate with Grand View Compass, by Grand View Research, Inc.
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
For more information: www.grandviewresearch.com
Media ContactCompany Name: Grand View Research, Inc.Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.Email: Send EmailPhone: 1-415-349-0058, Toll Free: 1-888-202-9519Address:201, Spear Street, 1100 City: San FranciscoState: CaliforniaCountry: SwitzerlandWebsite: www.grandviewresearch.com/industry-analysis/genomics-market