Genomics Market Worth 19.99 Billion USD by 2020
PUNE, India, February 24, 2016 /PRNewswire/ --
According to a new market research report "Genomics Market by Product (Instruments, Consumables), by Technology (Sequencing, PCR, Microarray), by Application (Diagnostics, Personalized Medicine), by Process (Library Preparation, Sequencing & Imaging), by End User - Trends & Global Forecasts to 2020", published by MarketsandMarkets, This market is expected to reach USD 19.99 Billion by 2020 from USD 12.5 Billion in 2015, at a CAGR of 9.9%.
Browse 117 market data Tables and 43 Figures spread through 195 Pages and in-depth TOC on "Genomics Market"
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The global Genomics Market is segmented on the basis of product, technology, process, end user, application, and region.
Based on products, the Genomics Market is categorized into instruments/systems, consumables, and services. In 2015, the consumables accounted for the larger share of the Genomics Market and expected to grow at the fastest rate during the forecast period. On the basis of technology, the market is categorized into sequencing, microarray, PCR, nucleic acid extraction and purification, branched DNA analysis, single cell genomics analysis, and flow cytometry, among others. PCR accounted for the largest share of the Genomics Market in 2015. Based on the process the Genomics Market is segmented into library preparation; sequencing and imaging; and data analysis. Sequencing and imaging segment contributed for the highest market share in 2015, and is expected to grow at the fastest rate during the forecast period.
The genomics end user market is categorized into academic institutes, research centers, government institutes, hospitals & clinics, pharmaceutical & biotechnology companies, agri-genomic companies, forensic agencies, and fishery & aquaculture firms, among others. The academic institutes, research centers, government institutes accounted for major share of the genomics end users market in 2015. Based on applications, the market is segmented into diagnostics, drug discovery & development, personalized medicine, forensics, and agricultural & animal research, among others. The diagnostics segment accounted for the largest share of the Genomics Market in 2015 and is projected to grow at the highest CAGR from 2015 to 2020.
On the basis of regions, the global market is divided into North America, Europe, Asia-Pacific, and the Rest of the World (Latin America, Middle East, and Africa). In 2015, North America is poised to account for the largest share of the Genomics Market, followed by Europe and Asia-Pacific. The North American market is slated to grow at the highest CAGR during the forecast period and serve as a revenue pocket for companies offering genomics products. A boost in demand for genomic products is anticipated in North America due to the passage of Personalized Medicine Initiative in 2015. The new healthcare initiative will increase the adaptation of genomics in personalized medicine and provide better treatment to the patients.
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The factors driving the growth of the global Genomics Market include increasing investments, grants, and funds by the government; increasing research in the field of genomics; increasing number of start-up companies; and increasing application of genomic sequencing in the diagnostics. Despite the large number of benefits like detection of genetic variations in a diseased condition, high costs of genomic sequencing instruments/systems are restraining the Genomics Market.
Some major players in the global Genomics Market include Illumina, Inc. (U.S.), Affymetrix, Inc. (U.S.), Agilent Technologies, Inc. (U.S.), BGI (China), Thermo Fisher Scientific, Inc. (U.S.), Bio Rad Laboratories, Inc. (U.S.), Cepheid, Inc. (U.S.), GE Healthcare (U.K.), QIAGEN (Germany), and Roche Diagnostics (Switzerland).
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