In 2021, the global genomics market was valued at USD 25.77 billion. Between 2023 and 2032, this market size is projected to expand at a compound annual growth rate (CAGR) of 17.95 % during the forecast period.

Genome refers to one type of genetic material. It includes noncoding DNA, genes, and mitochondrial DNA. Because of its use in many industries, such as Healthcare, Agriculture, Biotechnology, and DNA Sequencing, the genomics market is booming. Genomic pools are used in research and development to help doctors, patients, and biologists understand the genetic tendency of specific diseases. Many healthcare organizations integrate genetic information from clinical systems. Biotechnological firms invested heavily, and the government also increased their research in genomics.

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Genomic technology can identify rare genetic disorders and diagnose high-risk patients. Targeted therapy can be made more precise and specific by genetic information. Prenatal diagnosis was a risk factor for pregnancy. However, advanced genomic technology and maternal blood tests have made it easier to diagnose the condition. This is driving the market.

Genomics is important for genome sequencing because it can identify genetic variants that can be riskier among people who are not symptomatic of disease development. This allows for discovering undiscovered antimicrobial compounds that can be used to prevent the spread of bacterial diseases. It can be used to replace conventional drugs and surgery using gene therapy for different disorders. Genomics is not restricted to the health system. Genomics is used in agriculture and forensics, as well as pharmacogenomics. It also helps to understand human ancestry. Market revenue growth is driven by the cost-effective, efficient diagnosis of various diseases and the ability to predict community behavior in different environments.

Driver:

Increasing demand for Genomics and personalized medicine

Due to their effectiveness in treating complex, and rare diseases, personalized medicine has seen a significant increase in market revenue. Personalized medicine is possible through using derivatives of the genome such as RNA, protein, and metabolites. Researchers, doctors, and pharmaceutical companies use precision medicine to create new drug treatments for patients. Genomics has become more important because it allows for the advancement of health care facilities through providing unique genetic, genomic and clinical information. Personalized medicine is based on a person’s unique genetic profile to diagnose, prevent, and treat complex diseases. Because of its cost savings, early detection, drug safety, and patient compliance, personalized medicine is more popular than ever. The genomic approach can identify rare genetic diseases, cancers, and those with more complex polygenic conditions. The market is growing because of the increased use of personalized medicine for therapy medication.

Next-Generation Sequencing (NGS), based on personalized medicine for cancer treatment, has been introduced due to the rising importance and lower cost of sequencing. This market is growing because of the use of NGS in cancer treatment. Researchers have been able to access human genomes worldwide thanks to technological advances. NGS has been a critical driver in the rise in cancer cases. The market is also seeing growth opportunities due to the increasing use of genomics in personalized medicine and synthetic biology.

Restraining Factors

Lack of in-depth, knowledgeable professionals

A shortage of skilled and potential professionals limits growth in the rapidly growing genomics market. This market is limited by the high cost of tools and regulations. The handling of large datasets is limited by technical insufficiency, especially regarding analysis with genomic databases. The high cost of genetic technology also impedes market growth. Although the goal of genomics, which is to improve the health care system worldwide, has limited its use to developed countries due to high equipment costs, it has not stopped market growth.

It is difficult to share and store genomic data as one genome can consume around 100 gigabytes. Continuous sequencing has increased the storage requirements from petabytes and exabytes to gigabytes. Around 40 exabytes can be needed to store human genomic data by 2050. This raises concerns about data storage.

Key Trends
Technological Advancements in Genomics to Accelerate Market Growth

In recent years, the enormous potential of genome sequencing has prompted a flood of start-ups. Many companies offer sequencing services for various applications, including nutrition, ancestry, and genetic diseases. 23andMe is an example of a company that has seen significant growth. Market growth will be supported by increased funding for start-up companies. Ancestry, a consumer genomics company, planned to launch a new product in August 2020 that uses next-generation sequencing. Ancestry Health (powered by Next Generation Sequencing) will help customers understand their health and risk factors. This tool detects genes associated with breast, colon, heart disease, and blood disorders.
Кеу Маrkеt Ѕеgmеntѕ
Segmentation of the Genomics market is given below based on Application, Basis of Technology, Basis of Deliverable, End-use, etc.
By Application & Technology

  • Functional Genomics
    • Transfection
    • Real-time PCR
    • Mutational Analysis
    • RNA Interference
    • Other Functional Genomics
  • Biomarker Discovery
    • Microarray Analysis
    • DNA Sequencing
    • Mass Spectrometry
    • Real-time PCR
    • Other Biomarker Discoveries
  • Pathway Analysis
    • Bead-based Analysis
    • Microarray Analysis
    • Real-time PCR
    • Proteomics Tools (2-D PAGE; yeast 2-hybrid studies)
  • Epigenetics
    • Chromatin Immunoprecipitation (ChIP & ChIP-Seq)
    • High-Resolution Melt (HRM)
    • Bisulfite Sequencing
    • Methylated DNA Immunoprecipitation (MeDIP)
    • Other Application & Technologies

By Deliverable

  • Services
    • Core Genomics Services
    • NGS-based Services
    • Computational Services
    • Biomarker Translation Services
    • Others
  • Products
    • Consumables & Reagents
    • Instruments/Systems/Software

By End-use

  • Hospitals and Clinics
  • Pharmaceutical and Biotechnology Companies
  • Clinical Research
  • Academic and Government Institutes
  • Other End Users

Маrkеt Кеу Рlауеrѕ:

Here are some of the major players given in the Genomics Industry,

  • Thermo Fisher Scientific, Inc.
  • QIAGEN N.V.
  • Agilent Technologies
  • Danaher Corporation
  • Beijing Genomics Institute (BGI)
  • GE Healthcare
  • Bio-Rad Laboratories
  • Illumina, Inc.
  • F. Hoffmann-La Roche Ltd.
  • Eurofins Scientific
  • Myriad Genetics Inc.
  • Other Key Players

Recent Developments

Illumina (US) and Helix OpCo (US) collaborated in 2021 to improve the US national surveillance infrastructure. With support from the CDC, this was done to track the emergence of new strains of SARS-CoV-2. Illumina’s sequencing expertise and Helix’s national COVID-19 testing footprint will significantly increase the country’s surveillance efforts in identifying and characterizing emerging SARS-CoV-2 variants.

BGI (China) signed deals with top distributors from Brazil, Argentina, Peru, Ecuador, Colombia, Colombia, Mexico, and Ecuador in 2020 to expand its DNA sequencing and laboratory automation products.

QIAGEN (Netherlands) purchased NeuMoDx Molecular to consolidate its position in automated molecular tests. QIAGEN’s portfolio will now include medium- and large-throughput NeuMoDx solutions for automation based on PCR testing technology.

The Oncomine Myeloid Assay GX was introduced by Thermo Fisher Scientific, the USA, in 2020.

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