The global genomics market is anticipated to grow at a CAGR of around 7.9% during the forecast period 2020 to 2027 and to reach around US$ 31.4 Bn by 2027.
Genomics uses a combination of recombinant DNA, DNA sequencing methods, and bioinformatics to sequence, assemble, and analyze the structure and function of genomes. Increasing government spending on development present biotechnology infrastructure and focus on various collaborative works for introduction of innovative solutions are major factors expected to drive the growth of global market. In addition, major players focus on lowering the sequencing cost, coupled with inclination towards enhancing the product portfolio are factors expected to support the growth of target market.
Major players focus on developing the business their inclination towards increasing customer base and enhance the profit ration this is expected to augment the growth of target market.
In 2020, Roche a multinational healthcare company that operates worldwide under two divisions: Pharmaceuticals and Diagnostics acquired Stratos Genomics. The acquisition is expected to help the company to develop DNA based sequencing for diagnostic use and enhance the product portfolio.
In 2020, BioNano Genomics, Inc. a global provider of platform to analyze the long segments of genomic DNA and other biomolecules structural variations acquired Lineagen, Inc. The acquisition is expected to help the company to provide centralized lab services as well as a platform technology and increase the customer base.
In 2020, Ancestry.com LLC is a privately held online company launched next generation sequencing product that is expected to help the customers gain insights into their healt
However, factors such as high cost of genomic equipment and lack of trained professionals are expeh and risk factors. This product launch is expected to help the company to enhance the customer base and increase the revenue share.
In 2020, the company acquired Lineagen that is provider of genetic diagnostic services covering childhood neurodevelopmental disorders and autism spectrum disorder. This acquisition will help the company to enhance the product portfolio and increase the revenue.
In 2020, Nebula Genomics a global provider of privacy-focused personal genomics service launched direct-to-consumer whole genome sequencing. This launch is expected to help the company to increase the revenue share.cted to hamper the growth of global genomics market. In addition, unavailability of developed infrastructure in developing countries is expected to challenge the growth of target market.
Rapid technological advancements by major players and focus on use of genomics in specialized/personalized medicine are factors expected to create new opportunities for players operating in the target market over the forecast period.
Segment Analysis by Region
The market in North America is expected to account for major revenue share due to high government spending on biotechnology sector. In addition, presence of large number of players operating in the country and focus on introduction of innovative service & solutions in order to attract new customers are factors expected to support the growth of target market.
Moreover, increasing business acquisition activities in order to strengthen the business is another factor expected to impact the growth of target market.
The global market is high highly competitive due to presence of large number of players and innovative product offerings. In addition, business expansion activities through partnerships and agreements are factors expected to further increase the competition.
Global Genomics Market
2016 – 2027
2020 – 2027
Product & Services, Technology, Application, End Use and Geography
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis
Genomics Market Segment Analysis, 2019
The global market is segmented into product & services, technology, application, and end use. The product & service segment is bifurcated into consumables, systems and software, and services. Among the product & service the system & service segment is expected to account for significant revenue share in the target market. The end use segment is divided into research centers and academic & government institutes, hospitals & clinics, pharmaceutical & biotechnology companies, and other. Among the end use the hospitals & clinics segment is expected to account for major revenue share in the global market.
The players profiled in the report are Thermo Fisher Scientific, Inc., Bio-Rad Laboratories, Inc., 23andMe, Inc., Illumina, Inc., Myriad Genetics, Inc., Foundation Medicine, Inc., Danaher; Pacific Biosciences, F. Hoffmann-La Roche Ltd.., Agilent Technologies, Oxford Nanopore Technologies, and BGI.
Market By Product & Services
Systems and software
Market By Technology
PCR (polymerase chain reaction)
Nucleic acid extraction and purification
Market By Application
Drug discovery and development
Agriculture and animal research
Market By End Use
Research centers and academic & government institutes
Hospitals & clinics
Pharmaceutical & biotechnology companies
Market By Region
Middle East & Africa
Increasing government spending on development present biotechnology infrastructure and focus on various collaborative works for introduction of innovative solutions are major factors expected to drive the growth of global market.
The global genomics market in 2027 is expected to be above US$ 31.4 Bn.
In product & service segment the systems and software segment is growing at faster pace.
The CAGR of the global genomics market from 2020-2027 is above 7.9%.
In the global market the Asia Pacific region is expected to grow faster.
Some of the players considered in the report scope are Thermo Fisher Scientific, Inc.; Bio-Rad Laboratories, Inc.; 23andMe, Inc.; and Illumina, Inc.
The Asia Pacific is expected to account for major revenue share in the global market.