- Increasing government funding to support genomics projects, the growing incidence of cancer and increasing applications of NGS in cancer research, the entry of new players and start-ups in the genomics market are some of factors driving the market
JERSEY CITY, N.J., April 1, 2021 /PRNewswire/ -- Verified Market Research recently published a report, "Genomics Market" by Product and Service (Systems & Software, Consumables, and Services), by Technology (Sequencing, Microarray, and PCR), by Application (Diagnostic Application and Precision Medicine), and by Geography. According to Verified Market Research, the Global Genomics Market was valued at USD 21.57 Billion in 2020 and is projected to reach USD 82.40 Billion by 2028, growing at a CAGR of 18.24 % from 2021 to 2028.
Rise in clinical research activities, crime scenes, disease prevalence, drug development, personalizing & treatment regimens are expected to drive the Genomics Market over the predicted years. Also, increasing the affordability of genomics technology and improving patient outcomes expects a boost to the market in the coming years. Healthcare investment for genomic sequencing of humans on a population scale and the integration of new high throughput techniques with powerful new computing capabilities are revolutionizing the drug discovery stage and is providing lucrative opportunities for both clinical practice and basic research. Efficient regulations of the government bodies, number of projects, and emerging application areas such as aquaculture are opening a new door for market growth.
The major players in the market are Illumina, Inc., Thermo Fisher Scientific, Qiagen, Eurofins Scientific, Agilent Technologies, Oxford Nanopore Technologies, F. Hoffmann-La Roche, Bio-Rad Laboratories, BGI and Danaher Corporation.
Verified Market Research has segmented the Global Genomics Market On the basis of Product and Service, Technology, Application, and Geography.
Genomics Market by Product and Service
Systems & Software
Genomics Market by Technology
Genomics Market by Application
Genomics Market by Geography
Rest of Europe
Rest of Asia Pacific
Middle East & Africa
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