North America is the largest market for genomics. Factors such as increasing investments in research and development of genomics are fueling the global genomics market growth. In addition, countries such as the US, UK, France, Germany and China have been encouraging the development of precision medicines and personalized therapies in the region.
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Vendor Insights
Global genomics market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.
The growing competition in the market is compelling local vendors to adopt various growth strategies such as adopting competitive pricing and low-cost customization options to improve the penetration for their services. Most of the major emerging genomics solutions providers are more focused on developing innovative solutions by establishing partnership agreements with government organizations and end-users.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
- Abcam Plc
- Agilent Technologies Inc.
- Becton Dickinson and Co.
- BGI Genomics Co. Ltd.
- Bio Rad Laboratories Inc.
- Danaher Corp.
- Eppendorf AG
- Eurofins Scientific SE
- F. Hoffmann-La Roche Ltd.
- 10X Genomics Inc.
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Geographical Market Analysis
North America will provide maximum growth opportunities in the genomics market during the forecast period. According to our research report, the region will contribute to 38% of the global market growth and is expected to dominate the market through 2025. North America will generate growth across all the years of the forecast period between 2020 and 2025. The year-on-year growth during this period will vary between 9.45% and 10.97%.
The US is the major market for genomics in North America. As the vendors in this region are constantly focused on the development and use of innovative technologies in oncology. Moreover, the vendors are specifically concentrated on rising the penetration of their products among the companies such as biopharmaceutical, research institutes involved in cancer-based translation research.
On the other hand, Europe is emerging as the second-largest dominating region of global genomics market. The increasing number of sequencing projects and rising demand for genome databases in therapeutic developments majorly in countries such as UK, Germany, and France.
Key Segment Analysis
The global genomic market share growth by the products segment will be significant during the forecast period. The usage of products such as instruments and consumables in genomic research and testing. Furthermore, the growing focus of vendors on offering advanced products with a variety of features results in the reduction of hands-on time and high accuracy and minimizes errors. This segment is expected to hold the largest share in the genomics market during the forecast period.
Know more about this market's geographical distribution along with the detailed analysis of the top regions. https://www.technavio.com/report/genomics-market-industry-analysis
Key Market Drivers & Challenges:
The increased investment in the genomic research and development is one of the key factors significantly driving the global genomic market share growth during the forecast period. The implementation of breakthrough technologies in the genetics is mostly attracting investments in genomics. These investments help the global genomics institutes and organizations to develop personalized medicines and therapeutics for treating incurable diseases and adopting therapies.
The varying regulations in genomic research and testing is a key challenge for the genomics market share growth. Most of the vendors in the genomic market operate globally and thus, complying with different regulatory standards is primarily impacting the vendors of the genomics market. Moreover, vendors trade products that are highly regulated applications such as diagnostics, research, drug discovery which also exposes their products to strict compliance.
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Genomics Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 10.36% |
Market growth 2021-2025 |
$ 14.51 billion |
Market structure |
Fragmented |
YoY growth (%) |
9.71 |
Regional analysis |
North America, Europe, Asia, and ROW |
Performing market contribution |
North America at 38% |
Key consumer countries |
US, UK, Germany, France, and China |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
10X Genomics Inc., Abcam Plc, Agilent Technologies Inc., Becton Dickinson and Co., BGI Genomics Co. Ltd., Bio Rad Laboratories Inc., Danaher Corp., Eppendorf AG, Eurofins Scientific SE, and F. Hoffmann-La Roche Ltd. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period, |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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