Press Release

Innovations in Medical and Life Sciences Galvanizing the Demand for Genomics Market Globally

Promulgating advancements in the field of genomics is would continue to give rise to the economic, environmental, legal and social implications. The key players in the healthcare sector are collaborating with the genomic data. Clinical centers such as Stanford Health Care and many cancer research centers are using genomic data for personalizing treatments for cancer disease. The global genomics market is gaining traction owing to its applications in various fields such as intragenomic phenomenon including epistasis, pleiotropy, heterosis, and other interactions between loci and alleles within the genome. The genomic research is anticipated to showcase an exponential growth owing to imperative genetic innovations nourishing off it. 

 
According to MarkNtel Advisors’ research report “Global Genomics Market Analysis, 2020”, the Global Genomics market is anticipated to grow at a CAGR of around 10.5% during 2020-25. The market is also driven by the snowballing demand for generating and upgrading genome databases. Also, the inducing adoption of single cell-based genomic analysis is expected to catalyze the growth of the genomics market.

Diagnostics Segment is a Fast Growing Segment
Based on the application, the diagnostic segment is showcasing a positive growth and the growth is expected to accelerate during 2020-25 owing to the fostering of research on diseases such as cancer and genetic disorders coupled with reducing the cost of sequencing.

Research Centers and Academic & Government Institutes End-User Growing at a Rapid Pace
In 2019, the research centers and academic & government institutes end-user gained the maximum market share due to the increase in research intensity coupled with the rising funding for research activities. Moreover, the public and private organizations are taking initiatives for the up-gradation of genomic repositories. For instance, in October 2019, the Department of Biotechnology under the Government of India announced the launch of the Genome India project. The project is focused on the cataloging of genomic data of 10,000 Indians. The research centers in developed, as well as developing countries such as Japan, Canada, and China, are focusing on drug discovery and development. These factors are attributed to promulgate the demand for genomics through 2025 as revealed by the MarkNtel Advisors’ research report “Global Genomics Market Analysis, 2020”.   

According to MarkNtel Advisors’, the key players with a considerable market share in the Global Genomics market include Thermofisher Scientific, Qiagen, Illumina, Danaher Corporation, Bio-Rad Laboratories, GE Healthcare, Agilent Technologies, Oxford Nanopore Technologies, Perkin Elmer, Luminex Corporation, etc. 

“Global Genomics Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for Genomics providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.       

Market Segmentation:
1.    By Technology (PCR, Sequencing, Micorarray, Nucleic Acid Extraction and Purification), 
2.    By End-User (Research Centers and Academic & Government Institutes, Hospitals and Clinics, Pharmaceutical and Biotechnology Companies), 
3.    By Application (Diagnostics, Drug Discovery and Development, Precision Medicine, Agriculture and Animal Research, Functional Genomics, Epigenetics, Pathway Analysis, Biomarker Discovery), 
4.    By Deliverable (Products and Services), 
5.    By Country (US, Canada, Mexico, Brazil, Argentina, UK, Germany, Italy, Spain, China, India, Japan, South Korea, Australia, UAE, Saudi Arabia), 
6.    By Company (Thermofisher Scientific, Qiagen, Illumina, Danaher Corporation, Bio-Rad Laboratories, GE Healthcare, Agilent Technologies, Oxford Nanopore Technologies, Perkin Elmer, Luminex Corporation)

Key questions answered in the study:
1.    What are the current and future market trends of the Genomics industry? 
2.    How the industry has been evolving in terms of end-user demand and application areas?
3.    How the competition has been shaping across the countries followed by their comparative factorial indexing?
4.    What are the key growth drivers and challenges for the Genomics industry?
5.    What are the customer orientation, purchase behavior, and expectations from the Genomics firms across various regions?