Genomics Market by Product and Services, Technology, Process, Application - Forecast to 2022
LONDON, Oct. 17, 2017 /PRNewswire/ -- "Genomics market is projected to grow at a CAGR of 10.2%"
The global genomics market is estimated to grow at a CAGR of 10.2% from 2017 to 2022, to reach USD 23.88 billion in 2022 from 14.71 billion in 2017. The key factors driving the growth of the overall genomics market include the growing demand for rise in research activities in the field of genomics; increasing number of start-up companies; and increasing application of genomic sequencing in the diagnostics, personalized medicine, growing investments, grants, and funds by the government;. However, the high costs of genomic sequencing instruments/systems are expected to restrain the growth of this market to a certain extent during the forecast period.
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"The services segment is projected to grow at the highest CAGR during the forecast period"
Based on products and services, the genomics market is segmented into instruments/systems, consumables and services. During the forecast period, the services segment is expected to grow at the highest CAGR. The increasing awareness of genomics and reducing DNA sequencing costs are expected to drive the growth of the segment.
"The diagnostics segment is projected to grow at the highest CAGR during the forecast period"
Based on application, the genomics market is segmented into diagnostics, drug discovery and development, personalized medicine, agriculture and animal research, and other applications such as biofuels, marine research and coal mines. During the forecast period, the diagnostics market is poised to grow at the highest CAGR. Owing to the growing applications of genomics in the diagnosis of various rare and infectious diseases this segment is expected to grow during the forecast period.
"The hospitals and clinics are projected to grow at the highest CAGR during the forecast period"
Based on end user, the genomics market is segmented into research centres, academic and government institutes, hospital and clinics, pharmaceutical and biotechnology companies, and other end users such as NGO's. During the forecast period, hospitals and clinics are anticipated to grow at the highest CAGR. Factors driving the growth of this segment are the increasing demand for growing availability of genetic tests, pharmacogenomics, and rising emphasis on providing personalized medicine in hospitals.
"North America to witness the highest growth during the forecast period"
North America is expected to grow at the highest CAGR in the global genomics market during the forecast period of 2017–2022. The new pan – Canadian program, Research grants and funding by the government institutes in the US, and the US Precision Medicine Initiative are expected to drive the market growth during the forecast period.
Break of primary participants was as mentioned below:
• By Company Type – Tier 1: 56%, Tier 35%, and Tier 9%
• By Designation – C-level: 27%, Director Level: 15%, Others: 58%
• By Region – North America: 38%, Europe: 23%, Asia-Pacific: 25%, RoW: 15%
The various players in the Genomics market include QIAGEN (Netherlands), Thermo Fisher Scientific (US), Bio-Rad Laboratories (US), Agilent Technologies, (US), Illumina (US), Pacific Biosciences of California (US),Eurofins Scientific (Germany), , BGI (China), GE Healthcare (UK), F. Hoffmann-La Roche (Switzerland), Oxford Nanopore Technologies (UK), and Eppendorf (Germany) among others.
Research Coverage:
The report analyzes the genomics market and aims at estimating the market size and the future growth potential of this market based on various segments such as product and services, technology, process, application, end user and region. The report also includes competitive analysis of the key players in this market along with their company profiles, product and service offerings, recent developments, and key market strategies.
Reasons to Buy the Report
The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn would help them, garner a greater share. Firms purchasing the report could use any one or a combination of the below-mentioned five strategies.
This report provides insights on the following pointers:
• Market Penetration: Comprehensive information on product and service portfolios offered by the top players in the global genomics market
• Product and Service Enhancement/Innovation: Detailed insights on upcoming trends and service launches in the global genomics market
• Market Development: Comprehensive information about the lucrative emerging markets by product and services, technology, process, application, end user and region
• Market Diversification: Exhaustive information about new services or service enhancements, growing geographies, recent developments, and investments in the global genomics market
• Competitive Assessment: In-depth assessment of growth strategies, products, and services of leading players in the market
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