(EMAILWIRE.COM, January 23, 2023 ) The report Genomics Market is projected to reach USD 54.4 billion by 2025, at a CAGR of 19.0%.
The next generation sequencing dominated the genomics market.
Based on technology, the genomics market is segmented into sequencing technologies, PCR, nucleic acid extraction and purification, microarrays, and other technologies. The sequencing segment is further sub segmented into next-generation sequencing (NGS) and other sequencing technologies.
NGS advantages includes ultra-high-throughput, scalability, and high speed, enable researchers to perform a wide variety of applications, including animal breeding, agriculture, and human genomics.
In 2019, the next-generation sequencing technology dominated with largest share of the genomics market. The substantial focus on new targeted therapies and rising prevalence on cancer offers a lucrative opportunity for the adoption of NGS. Moreover, other factors such as NGS adoption in clinical diagnostics due to rapid result time and faster processing will drive the growth in NGS technology on large scale. Also, growing technological advancements in NGS instruments and technologies are likely to favor the significant growth of NGS in coming years.
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=613
The hospitals and clinics segment contributed for the largest share by end use in the genomics market.
Based on end users, the genomics market is segmented into hospitals & clinics, research centers and academic & government institutes, pharmaceutical & biotechnology companies, and other end users. The hospitals & clinics segment accounted for the largest share of the market and is expected to grow at steady rate during the forecast period. The rising prevalence of cancer and other chronic diseases, the growing demand for advanced medical treatments, and the rising number of biomarker-based therapies are attributed to its growth. Hospitals & clinics are shifting from traditional genomic testing methods to cost-effective and more sensitive methods, such as whole-exome sequencing, which is a major factor driving the market growth.
The Asia Pacific region is the fastest growing region of the genomics market.
The Asia Pacific region accented for the fastest growing region of the genomics market. It is also estimated to grow at the highest CAGR in the genomics market during the forecast period, mainly due to favorable government support for genomics projects, increasing awareness about newer genomics technologies such as NGS, advancement in bioinformatics and increasing healthcare expenditure in the region. Moreover, increasing prevalence for the development of drugs for the rare diseases and expansions by key players are helping to strengthen their presence in the APAC region.
Request Sample Pages @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=613
Some of the leading players operating in the genomics market are Illumina, Inc. (US), Thermo Fisher Scientific (US), QIAGEN N.V. (Netherlands), Agilent Technologies, Inc. (US), F. Hoffmann-La Roche Ltd. (Switzerland), Bio-Rad Laboratories, Inc. (US), and BGI (China).
Read More About Related Topics:
Metagenomic Sequencing Market – Global Future Forecasts to 2027
Nucleic acid Isolation Purification Market – Global Future Forecasts to 2027
Genome Editing Market – Global Future Forecasts to 2026
NGS-Based RNA-Sequencing Market – Global Future Forecasts to 2024
About MarketsandMarkets
MarketsandMarkets provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the “Growth Engagement Model GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarketss flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.