Genomics Market Size, Share, Demand And Future Scope.

What is Genomics – Genomics is that part of biology which deals with all the operations on genomes, such as finding out information about its structure, function and evolution, along with mapping and editing it. So basically, it aims at the collective characterization and quantification of all of an organism’s genes, their interrelations and influence on the organism.

Before diving deep into the sea of know-hows of genomics, lets just have a brief swim in the market value of the genomics. Genomics market is one of those upbeat markets that grows year-on-year with one of the highest growth rates. According to a market research company, Grand View Research, Inc., this market was valued at USD 20.1 billion in 2020 and is expected to grow at CAGR of 15.35% from 2021 to 2028. These numbers speak volumes about the potential this market holds.

Now the question arises, why it holds such a potential and what is it exactly?

Genomics – What & Why?

To understand genomics as a subject, we need to go through some of the minor but important definitions that form a substantial part of genomics.

  • DNA (Deoxyribonucleic Acid) – It is a molecule formed by two polynucleotide chains in a double helix formation, having all the genetic information for the development, functioning, growth and reproduction of all known organisms and several viruses.
  • Genome –Genome is the name given to all the genetic material of an organism. By genetic material, I mean – DNA, RNA (in RNA Viruses), also mitochondrial DNA, and chloroplast DNA- all of it.

Access Blog of Genomics Market https://gvrencompass.wordpress.com/2021/05/07/why-genomics-matter-a-brief-summary/

Genetics Vs Genomics

Most of the people are very familiar with genetics and not so much with genomics. Also, several more than them, use both the terms interchangeably, causing a great deal of confusion among the masses. However, both of these terms have fair bit of difference.

Genetics is the older member of the same family and deals with the study of specific genes and their roles in inheritance – simply stated, it is the study of how and in what ways certain traits or conditions are passed down from one generation to another. It dates back to Augustinian friar and scientist Gregor Johann Mendel, whose studies on pea plants provided many insights into the rules of heredity.

Genomics, on the other hand is the relatively new subject, but effective nonetheless. Contrasting to genetics, it is the study of the entirety of an organism’s genome and makes use of mathematic tools such as bioinformatics, computational biology along with DNA sequencing to analyze large amounts of DNA-sequence data and find variations that affects health, disease or drug response. In Humans, it entails going through about 3 billion units of DNA across 23,000 genes to find clues.

Applications galore!

Personalized Meds

Personalized medicines or Pharmacogenomics, is the name of the process of using a person’s genome sequence and developing medicines that are suitable to that person’s body. In this process, sequencing the DNA of several people is of utmost importance, as it helps researchers understand how genomic differences relate to different traits. In addition to this, pharmacogenomics continuously seeks to reduce the side effects of the medicines which is the fourth leading cause of death in the United States.

Fighting Genetic Diseases

 When you have a rare disease, you have to fight two battles – one is the illness and the other is to live in a world where very few people know about the disease you’re suffering from.

Around 300 million people in this world are suffering from rare disorders, and about 80% of these diseases are genetic in origin. In addition to this, 95% of these diseases do not even have a single approved treatment world over. Advances in Genomics have given people suffering from these diseases a chance to get a proper diagnosis and then avail themselves of a personalized treatment helping them alleviate their suffering.

Genomics also help people to choose suitable partners, in order to avoid the chances to pass on rare genetic disorders to the next generation. It is done through Genetic Compatibility Test or Genetic Matching.

Genetic Fingerprinting

Even before the human genome project was completed in April 2003, the forensic analyses of DNA were being used heavily. However, as the newer approaches were being made in the field, the process became more and more efficient and quick. Study of genomics and advances in DNA sequencing has helped detectives, law enforcement officials and forensic experts to determine that 0.1 percent of the human genome sequence that differs between people and has helped them achieve their goals and make the society that we live in, a better place.

Genetic Ancestry Test

The secret to human evolution and the evolution of the world as we know it, is not only hidden in the darkness of outer space, but also in the depth of a person’s genome. The human genome project helped sequence a human genome and laid bare a lot of secrets thereafter. However, a lot is still there to be known. It is just as they say, “The more you know, the more you realize how much you don’t know

Genomics helps us understand our ancestry, human history and gives us an opportunity to learn from the past and use those learnings in present to improve our future.

Agriculture

DNA sequencing or Genome sequencing of the plants and the animals helps us to choose desirable traits in them, leading to better output and increased benefits. By mimicking natural processes, scientists can selectively add traits like resistance to herbicides in plants. The resulting offspring have been called genetically modified organisms (or GMOs). One example is “Golden Rice,” which is a rice strain that has small bits of corn and bacterial DNA added to its genome. These extra genes allow the rice to produce beta carotene (a vitamin A precursor). It went on to achieve the Patents of Humanity award by US government, as it had the ability to help people suffering from blindness and immune system deficiencies.

This is just one example of several benefits genomics can provide in agriculture.

Final 2 cents

To be honest with all of you, the picture of genomics on the world front is not all hunky-dory. There are several challenges faced by researchers and scientist in multiple parts of the worlds against the usage of GMOs, risks of gene-editing among people, stark misuse of genomics to create synthetic clones and genetically modified children. These challenges are needed to be addressed by the governing authorities and the responsibility that genomics should not be put to ill use rests on all of our shoulders. After all, this is, a very old mandate;

Genomics Market Projected To Exhibit Robust CAGR of 15.35%For The Forecast Period From 2021 To 2028: Grand View Research Inc.

San Francisco, 23 March 2021: The Report Genomics Market Size, Share & Trends Analysis Report By Application & Technology (Functional Genomics, Pathway Analysis), By Deliverable (Products, Services), By End-use, By Region, And Segment Forecasts, 2021 – 2028

The global genomics market size is expected to reach USD 62.9 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 15.35% from 2021 to 2028. A rise in the demand for the solutions to catalog vast genomic information into a usable form and to utilize it in clinical workflows is expected to drive the market.

This has also led to an increase in the market competition, coupled with the development of breakthrough genomic technologies by Veritas Genetics, 23andMe, and other key players. In August 2020, Ancestry launched a new next-generation sequencing-based tool to screen genes linked to blood disorders, colon cancer, heart diseases, and breast cancer. This product, developed by Quest Diagnostics, has a better DNA analysis efficiency when compared to microarray-based testing.

Technological advancements in genetic technologies that include CGH, FISH, microarray, karyotyping, sequencing, and gene-editing tools have played a pivotal role in reshaping the healthcare systems and basic biomedical research. Furthermore, despite several ethical and legal issues, Direct-To-Consumer solutions are one of the most important innovations in the market for genomics as they help patients to perform genetic tests on their own.

The cost of reagents used in genomics has witnessed a continuous decline, which has led to an increase in adoption among small and mid-sized laboratories. However, with the introduction of novel technology and systems, the requirement for reagents is also changing.

The market has witnessed multiple product launches in 2020 owing to a rise in competition for the development of genomic testing solutions for COVID-19. For instance, in December 2020, ThermoFisher launched Applied Biosystems TaqCheck SARS-CoV-2 Fast PCR Assay—a new saliva-based PCR test for the detection of COVID-19 infection. Similarly, in June 2020, Cepheid announced the development of the Xpert Xpress SARS-CoV-2/Flu/RSV four-in-one test, which can detect these four pathogens from a single sample. This test can be run on Cepheid’s GeneXpert Systems.

Access Research Report of Genomics Market https://www.grandviewresearch.com/industry-analysis/genomics-market

Genomics Market Report Highlights

  • In the products segment, the consumables and reagents segment is expected to register the fastest CAGR over the forecast period owing to the high volume requirement for reagents and consumables for genomic analysis
  • In the services segment, NGS-based services dominated the market in 2020. The use of NGS-based services for the analysis of the SARS-CoV-2 genome drives the segment. The COVID-19 Genomics UK (COG-UK) Consortium delivers rapid and large-scale whole-genome sequencing of SARS-CoV-2
  • By application and technology, functional genomics led the market in 2020 due to the development of high-throughput technologies for the gene as well as protein studies. The generation of a large amount of sequencing data has led to significant developments in the segment
  • Based on end use, pharmaceutical and biotechnology companies dominated the market in 2020. Pharmaceutical and biotechnology companies like Menlo Park; Grail, Inc.; and Regeneron Pharmaceutical, Inc. have initiated large-scale genomic sequencing projects in collaboration with both community health systems and academic medical centers
  • Asia Pacific is expected to register the fastest growth rate from 2021 to 2028 owing to an increase in adoption and awareness about a number of genomics technologies in emerging countries, such as China and India, for the detection, treatment, and prognosis of various genetic disorders, such as diabetes and cancer

List of Key Players of Genomics Market

  • Thermo Fisher Scientific, Inc.
  • Agilent Technologies
  • Beijing Genomics Institute (BGI)
  • Bio-Rad Laboratories
  • Danaher Corporation
  • Hoffmann-La Roche Ltd.
  • GE Healthcare
  • Illumina, Inc.
  • Oxford Nanopore Technologies
  • Pacific Biosciences of California, Inc.
  • QIAGEN N.V.
  • Quest diagnostics
  • Myriad Genetics, Inc.
  • Eppendorf AG
  • Eurofins Scientific
  • Color
  • 23andMe, Inc.

Access Press Release of Genomics Market @ https://www.grandviewresearch.com/press-release/genomics-market-analysis

Genomics Market Projected To Expand At A CAGR 7.7% For The Forecast Period From 2020 To 2027: Grand View Research Inc.

San Francisco, 4  Nov 2020: The Report Genomics Market Size, Share & Trends Analysis Report By Application and Technology (Functional Genomics, Pathway Analysis), By Deliverables (Products, Services), By End Use, By Region, And Segment Forecasts, 2020 – 2027

The global genomics market size is expected to reach USD 31.1 billion by 2027, registering a CAGR of 7.7% over the forecast period, according to a new report by Grand View Research, Inc. Significant changes in disease management processes along with advancements in genomics and personalized medicine are expected to propel the market. 

Increasing pool of market innovators such as 23andMe,Oxford Nanopore Technologies, and Veritas Genetics that have launched breakthrough genomic technologies in recent years are also contributing toward market development. 23andMe has expertise in developing direct-to-consumer genomic tests targeted toward disease prognosis and has recently received FDA approval for its commercialization.

MinION – a trademark sequencing device of Oxford Nanopore Technologies, is witnessing significant traction owing to its ability to sequence any fragment length of DNA in real time. On the other hand, Veritas Genetics offers an affordable solution for a complete readout of the genomic sequence. Earlier procured only by doctors, these tests can now be taken by anyone curious about their DNA and costs approximately USD 1,000. The company has also begun the commercialization of this technique for newborn’s genomic sequencing applications in China in 2017.

Access Research Report of Genomics Market https://www.grandviewresearch.com/industry-analysis/genomics-market

Further key findings from the report suggest:

  • The consumables and reagents deliverable segment is expected to register highest growth rate owing to high costs associated with specific essential reagents along with high volume requirement
  • The computational services deliverable segment is set to expand at a considerable CAGR from 2020 – 2027 owing to the increasing demand for computational sequence alignment and analysis among molecular biologists
  • Development of predictive biomarkers targeted toward diagnosis and monitoring and substantial investments by biotechnology and pharmaceutical companies have contributed significantly to the revenue generated by the biomarker discovery application segment in 2019
  • Asia Pacific is a potentially lucrative market for genomics and is anticipated to expand at the highest CAGR of 9.1%
  • Key players of genomics market include 23andMe; F. Hoffmann-La Roche Ltd.; BGI; Myriad Genetics Inc.; Danaher.; Pacific Biosciences; Illumina; Agilent Technologies; Thermo Fisher Scientific, Inc.; Foundation Medicine; Oxford Nanopore Technologies; and Bio-Rad Laboratories.

Browse more reports of this category by Grand View Research at: https://www.grandviewresearch.com/industry/biotechnology

Grand View Research has segmented the global genomics market on the basis of deliverables, application and technology, end use, and region:

Genomics Deliverable Outlook (Revenue, USD Million, 2016 – 2027)

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

Genomics Application & Technology Outlook (Revenue, USD Million, 2016 – 2027)

  • Functional Genomics
    • Transfection
    • Real-time PCR
    • RNA interference
    • Mutational analysis
    • SNP analysis
    • Microarray analysis
  • Epigenetics
    • Bisulfite sequencing
    • Chromatin immunoprecipitation-sequencing (ChIP & ChIP-Seq)
    • Methylated DNA immunoprecipitation (MeDIP)
    • High resolution melt (HRM)
    • Chromatin accessibility assays
    • Microarray analysis
  • Pathway Analysis
    • Bead-based analysis
    • Microarray analysis
    • Real-time PCR
    • Proteomics tools (2-D PAGE; yeast 2-hybrid studies)
  • Biomarker Discovery
    • Mass spectrometry
    • Real-time PCR
    • Microarray analysis
    • Statistical analysis
    • Bioinformatics
    • DNA sequencing
  • Others

Genomics End-use Outlook (Revenue, USD Million, 2016 – 2027)

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

Genomics Regional Outlook (Revenue, USD Million, 2016 – 2027)

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa (MEA)

Access Press Release of Genomics Market @ https://www.grandviewresearch.com/press-release/genomics-market-analysis

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For More Information:www.grandviewresearch.com

Genomics Market  Projected To Expand At A CAGR 7.7% For The Forecast Period From 2020 To 2027: Grand View Research Inc.

Genomics Market

San Francisco, 10  April 2020: The Report Genomics Market Size, Share & Trends Analysis Report By Application and Technology (Functional Genomics, Pathway Analysis), By Deliverables (Products, Services), By End Use, By Region, And Segment Forecasts, 2020 – 2027

The global genomics market size is expected to reach USD 31.1 billion by 2027, registering a CAGR of 7.7% over the forecast period, according to a new report by Grand View Research, Inc. Significant changes in disease management processes along with advancements in genomics and personalized medicine are expected to propel the market.

Increasing pool of market innovators such as 23andMe,Oxford Nanopore Technologies, and Veritas Genetics that have launched breakthrough genomic technologies in recent years are also contributing toward market development. 23andMe has expertise in developing direct-to-consumer genomic tests targeted toward disease prognosis and has recently received FDA approval for its commercialization.

MinION – a trademark sequencing device of Oxford Nanopore Technologies, is witnessing significant traction owing to its ability to sequence any fragment length of DNA in real time. On the other hand, Veritas Genetics offers an affordable solution for a complete readout of the genomic sequence. Earlier procured only by doctors, these tests can now be taken by anyone curious about their DNA and costs approximately USD 1,000. The company has also begun the commercialization of this technique for newborn’s genomic sequencing applications in China in 2017.

Access Research Report of Genomics Market https://www.grandviewresearch.com/industry-analysis/genomics-market

Further key findings from the report suggest:

  • The consumables and reagents deliverable segment is expected to register highest growth rate owing to high costs associated with specific essential reagents along with high volume requirement
  • The computational services deliverable segment is set to expand at a considerable CAGR from 2020 – 2027 owing to the increasing demand for computational sequence alignment and analysis among molecular biologists
  • Development of predictive biomarkers targeted toward diagnosis and monitoring and substantial investments by biotechnology and pharmaceutical companies have contributed significantly to the revenue generated by the biomarker discovery application segment in 2019
  • Asia Pacific is a potentially lucrative market for genomics and is anticipated to expand at the highest CAGR of 9.1%
  • Key players of genomics market include 23andMe; F. Hoffmann-La Roche Ltd.; BGI; Myriad Genetics Inc.; Danaher.; Pacific Biosciences; Illumina; Agilent Technologies; Thermo Fisher Scientific, Inc.; Foundation Medicine; Oxford Nanopore Technologies; and Bio-Rad Laboratories.

Browse more reports of this category by Grand View Research at: https://www.grandviewresearch.com/industry/biotechnology

Grand View Research has segmented the global genomics market on the basis of deliverables, application and technology, end use, and region:

Genomics Deliverable Outlook (Revenue, USD Million, 2016 – 2027)

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

Genomics Application & Technology Outlook (Revenue, USD Million, 2016 – 2027)

  • Functional Genomics
    • Transfection
    • Real-time PCR
    • RNA interference
    • Mutational analysis
    • SNP analysis
    • Microarray analysis
  • Epigenetics
    • Bisulfite sequencing
    • Chromatin immunoprecipitation-sequencing (ChIP & ChIP-Seq)
    • Methylated DNA immunoprecipitation (MeDIP)
    • High resolution melt (HRM)
    • Chromatin accessibility assays
    • Microarray analysis
  • Pathway Analysis
    • Bead-based analysis
    • Microarray analysis
    • Real-time PCR
    • Proteomics tools (2-D PAGE; yeast 2-hybrid studies)
  • Biomarker Discovery
    • Mass spectrometry
    • Real-time PCR
    • Microarray analysis
    • Statistical analysis
    • Bioinformatics
    • DNA sequencing
  • Others

Genomics End-use Outlook (Revenue, USD Million, 2016 – 2027)

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

Genomics Regional Outlook (Revenue, USD Million, 2016 – 2027)

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa (MEA)

Access Press Release of Genomics Market @ https://www.grandviewresearch.com/press-release/genomics-market-analysis

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For More Information:www.grandviewresearch.com

 

Genomics Market Is Witnessing An Upswing Of CAGR Of 8.6% For Forecast Period From 2019 To 2025 : Grand View Research Inc.

San Francisco, 12 August 2019: The Report Genomics Market Size, Share & Trends Analysis Report By Application And Technology (Pathway Analysis, Functional Genomics), By Deliverables (Instruments, Consumables, Services), By End Use, And Segment Forecasts, 2019 – 2025

The global genomics market size is expected to reach USD 27.61 billion by 2025, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 8.6% during 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 growing trend of targeted therapies.

Results from genomic studies enable a better understanding of diseases and the underlying mechanisms for researchers, physicians, and consumers. 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.

Ability of the medical community to make use of the available genomic information in personalized medicine is anticipated to significantly impact the genomics market. 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 market share. For instance, in March 2017, Foundation Medicine collaborated with Bristol-Myers Squibb Company, as a result of which Bristol-Myers Squibb could 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.

NGS-based services held a major market share in the services segment due to its rapid adoption of whole genome sequencing and application of sequence databases for disease screening and prognosis. The demand would remain strong with the expansion of the customer base from limited to academic and research centers to CROs, biotech and pharma players. As patients are focusing on their health, Direct-To-Consumer (DTC) laboratory testing is increasingly being employed. DTC genetic tests enable consumers to access information about their genetics without necessarily including healthcare professionals in the process.

Access Research Report of Genomics Market www.grandviewresearch.com/industry-analysis/genomics-market

Further key findings from the report suggest:

  • High demand in terms of volume coupled with the high cost of specific reagents contribute to substantial revenue share. Companies are embracing the trend of offering varied reagents that simplify workflow process
  • Use of predictive biomarkers for diagnosis and monitoring take cancer eradication a step further. Moreover, organizations and programs such as the National Biomarker Development Alliance (NBDA) are actively participating in development of novel biomarkers for cancer diagnosis
  • Growing interest of pharmaceutical and biotechnology companies in genomics is expected to drive growth of the genomics market in the forthcoming years
  • Asia Pacific is anticipated to display the maximum potential and an become an emerging market for genomics. It is anticipated to register the fastest CAGR of 10.4% over the forecast period
  • Major players include 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 of this category by Grand View Research at: www.grandviewresearch.com/industry/biotechnology

Grand View Research has segmented the global genomics market on the basis of application and technology, deliverable, end use, and region:

Genomics Application and Technology Outlook (Revenue, USD Million, 2014 – 2025)

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

Genomics Deliverables Outlook (Revenue, USD Million, 2014 – 2025)

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

Genomics End Use Outlook (Revenue, USD Million, 2014 – 2025)

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

Genomics Regional Outlook (Revenue, USD Million, 2014 – 2025)

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa (MEA)

Access Press Release of Genomics Market www.grandviewresearch.com/press-release/genomics-market-analysis

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For More Information: www.grandviewresearch.com

 

 

Genomics Market Analysis On The Basis Of Deliverables, Application & Technology, End Use, Region And Forecast To 2025 : Grand View Research Inc.

San Francisco, 29 March 2019: The 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

The global Genomics Market size is expected to reach USD 27.6 billion by 2025, according to a new report by Grand View Research, Inc. 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.

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.

Access Research Report of Genomics Market www.grandviewresearch.com/industry-analysis/genomics-market

Further key findings from the study suggest:

  • 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 of this category by Grand View Research at: www.grandviewresearch.com/industry/biotechnology

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
    • Microarray Analysis
  • Pathway Analysis
    • Bead-based Analysis
    • Microarray Analysis
    • Real-time PCR
  • Proteomics Tools (2-D PAGE; yeast 2-hybrid studies)
    • Biomarker Discovery
    • Mass Spectrometry
    • Real-time PCR
    • Microarray Analysis
    • Statistical Analysis
    • Bioinformatics
    • DNA Sequencing
  • Others

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
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa (MEA)

Access Press Release of Genomics Market www.grandviewresearch.com/press-release/genomics-market-analysis

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For More Information: www.grandviewresearch.com

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