The study that analyzes the structure and function of genomes is called genomics. It utilizes different sequencing, sampling, and data analysis and interpretation methods to assemble, analyze and decode genomes. The knowledge of the complete set of DNA helps to identify certain genetic disorders, develop the best course of treatment, and contribute to precision medicine.
In the year 2018, Global Genomics Market was valued at USD 16.47 Billion, and it is estimated to reach USD 26.4 Billion at a growing CAGR of 9.9% by the year 2023.
Drivers and Restraints:
Global Genomics Market is estimated to grow in forecasted period owing to supporting factors of market such as increment in number research and development programs about usage of genomics, growing demand for genetically altered plants as well as animals, decrease in prices of genomic processes and well as by products, and technological advancements in this specific field of the market. In addition, utilization of genomic concepts in synthetic biology, and study of gene sequences of plants and living organisms is predicted to drive the market in the forecast years.
Based on geography the Global Genomics Market primarily segmented into Europe, North America, Latin America, Middle East & Africa and North America. North America region is dominating the worldwide marketplace. Europe region is estimated to be trailing right behind the North America region in terms of market share. In addition, Asia Pacific region is estimated to be growing at quicker pace with highest CAGR during the forecast period. This is because of presence of major economies in the region such as India and China, growing demand for fast-food in the region.
Key Players of Global Genomics Market:
Some of the major companies in Global Genomics Market include Affymetrix, Inc., Agilent Technologies, BGI, Bio-Rad Laboratories Inc., GE Healthcare, Illumina Inc., Qiagen, Roche Diagnostics, Life Technologies, and Cepheid.
Scope of the report:
The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.
The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.
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