Genomics Market to Flourish at 16.37% CAGR and Surpass US$ 106.14 Billion by 2030

PRESS RELEASE
Published July 26, 2023

A worldwide Global Genomics Market research report is a comprehensive synopsis on the study of Healthcare industry and its influence on the market environment. Some of the competitor strategies can be mentioned here as new product launches, expansions, agreements, partnerships, joint ventures, and acquisitions. This market report is a clear-cut solution which can be adopted by businesses to thrive in this swiftly changing marketplace. Not to mention all the topics included have been watchfully analysed with the best tools and techniques. Utilization of well established tools and techniques in the comprehensive Global Genomics Market report helps to turn complex market insights into simpler version.

The first class Global Genomics Market report endows with the data and statistics on the current state of the industry which directs companies and investors interested in this market. Because businesses can accomplish great benefits with the different and all-inclusive segments covered in the market research report, every bit of market that can be included here is tackled carefully. This market research report provides the best answers to many of the critical business questions and challenges. Competitive analysis studies of the Global Genomics Market survey report provides with the ideas about the strategies of key players in the market.

Genomics has diverse applications, features, and uses in various fields. In healthcare, it enables personalized medicine by analyzing an individual’s genetic information to guide treatment decisions. Genomics also plays a vital role in disease prevention, diagnosis, and drug development. Features include DNA sequencing, gene expression analysis, and variant identification. Genomics finds use in agriculture for crop improvement and conservation biology for studying endangered species. Additionally, it has applications in ancestry testing, forensics, and understanding human evolution. Overall, genomics revolutionizes our understanding of genetics and has profound implications for healthcare, research, and beyond.

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Data Bridge Market Research analyses that the genomics market which was USD 31.56 billion in 2022, is expected to reach USD 106.14 billion by 2030, growing at a CAGR of 16.37% during the forecast period of 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

“Growing incidence of cancer boosts the market’s growth”

The genomics market is experiencing significant growth due to the growing incidence of cancer. As cancer cases continue to rise globally, there is an increased demand for advanced genomic technologies that aid in diagnosis, prognosis, and personalized treatment strategies. Genomic sequencing and analysis techniques provide valuable insights into the genetic alterations driving cancer development, enabling targeted therapies and precision medicine approaches. This rising demand for genomics in cancer research and clinical applications is a major driver of the market’s growth, as healthcare providers and researchers strive to improve patient outcomes and develop more effective cancer treatments.

What restraints the growth of global genomics market?

“Requirement of trained professionals restraints the market’s growth”

The growth of the genomics market is hindered by the requirement of trained professionals. Genomic technologies and data analysis techniques are complex and require specialized knowledge and expertise to effectively utilize and interpret the results. The shortage of skilled professionals capable of handling genomic data and implementing genomic testing and analysis procedures acts as a barrier to market growth. To overcome this challenge, investments in training programs and educational initiatives are crucial to develop a skilled workforce that can fully harness the potential of genomics and drive further growth in the market.

Recent developments

  • In March 2021, PCR Biosystems has introduced a series of IsoFast Bst Polymerase reagents that enable rapid, robust, and sensitive DNA and RNA amplification. These reagents offer faster results and facilitate DNA and RNA amplification even in field settings without the need for specialized thermocycling equipment.
  • In August 2022, Trivitron Healthcare has inaugurated a state-of-the-art Centre of Excellence in India, equipped with advanced research and development (R&D) and manufacturing facilities. The center will focus on research and innovation in various fields, including genomics.
  • In Feb, 2023, Complete Genomics has unveiled the launch of DNBSEQ-T20, a new genetic sequences that boasts the distinction of being the first sub-$100 with low to midrange throughput. With this new technology, Complete Genomics aims to provide cost-effective genetic sequencing.
  • In July 2020, Illumina has introduced the TruSight software suite, offering a pre-built infrastructure designed to unlock the potential of whole-genome sequencing for the detection and analysis of rare genetic diseases. This software suite provides researchers and clinicians with a ready-to-use platform, simplifying the process of identifying and interpreting genomic data related to age-old diseases.

The Prominent Key Players Operating in the Global Genomics Market Include:

  • Agilent Technologies, Inc. (U.S.)
  • Bio-Rad Laboratories, Inc. (U.S.)
  • BGI (China)
  • Color Health, Inc. (U.S.)
  • Danaher  (U.S.)
  • Eppendorf SE (Germany)
  • Eurofins Scientific (Luxembourg)
  • F. Hoffmann-La Roche Ltd. (Switzerland)
  • GE Healthcare (U.S.)
  • Illumina, Inc. (U.S.)
  • Myriad Genetics, Inc. (U.S.)
  • Oxford Nanopore Technologies plc. (U.K.)
  • PacBio (U.S.)
  • QIAGEN (Germany)
  • Diagnostics Incorporated (U.S.)
  • Thermo Fisher Scientific, Inc. (U.S.)
  • 23andMe, Inc. (U.S.)
  • FOUNDATION MEDICINE, INC. (U.S.)
  • IntegraGen (France)
  • Genome Diagnostics Pvt. Ltd. (India)
  • Cytiva (U.S.)

Restraints/Challenges

  • Requirement of trained professionals

Genomics involve complex procedures such as a combination of recombinant DNA technology, DNA sequencing methods, and bioinformatics. It it used to sequence, assemble, and analyse the structure and function of genomes. Thus, it requires skilled genetics professionals. The lack of skilled genetics professionals is a major challenge hindering market growth. The shortage of trained genetic professionals has resulted in wrong result interpretations and false observations during genetic research and testing. Therefore, the lack of trained professionals is one of the main challenges hindering the global market.

  •  Handling of sensitive instruments

Genomics studies involve procedures such as gene editing, amplification, sequencing, and multiplexing, which are highly complex and sensitive. Advanced instruments such as microarray equipment, PCR instruments, centrifuges, analyzers, liquid handling equipment, and sequencers are used in these procedures. Therefore, all the instruments must be handled with the utmost care. Handling these sensitive instruments is a major growth obstructing factor for the market.

This genomics market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the genomics market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Some of the major players operating in the genomics market are:

  • Agilent Technologies, Inc. (U.S.)
  • Bio-Rad Laboratories, Inc. (U.S.)
  • BGI (China)
  • Color Health, Inc. (U.S.)
  • Danaher  (U.S.)
  • Eppendorf SE (Germany)
  • Eurofins Scientific (Luxembourg)
  • F. Hoffmann-La Roche Ltd. (Switzerland)
  • GE Healthcare (U.S.)
  • Illumina, Inc. (U.S.)
  • Myriad Genetics, Inc. (U.S.)
  • Oxford Nanopore Technologies plc. (U.K.)
  • PacBio (U.S.)
  • QIAGEN (Germany)
  • Diagnostics Incorporated (U.S.)
  • Thermo Fisher Scientific, Inc. (U.S.)
  • 23andMe, Inc. (U.S.)
  • FOUNDATION MEDICINE, INC. (U.S.)
  • IntegraGen (France)
  • Genome Diagnostics Pvt. Ltd. (India)
  • Cytiva (U.S.)

To Gain More Insights into the Market Analysis, Browse the Summary of the Research Report@  https://www.databridgemarketresearch.com/reports/global-genomics-market?Shri

The report provides insights on the following pointers:

  • Market Penetration: Comprehensive information on the product portfolios of the top players in the this research report
  • Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and product launches in the market
  • Competitive Assessment: In-depth assessment of the market strategies, and geographic and business segments of the leading players in the market
  • Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies

Top Key Topics Covered:

  1. Strategic Imperatives
  • Factors Creating Pressure on Growth
  • The Strategic Imperative
  • Growth Opportunities Fuel the Growth Pipeline Engine
  • Research Methodology
  1. Scope and Segmentation
  • Research Context and Scope of Analysis
  • Segmentation
  • Other Techniques for This Research Report Management
  1. Growth Opportunity Analysis
  • Growth Drivers
  • Growth Restraints
  1. Introduction
  • The Impact of the COVID-19 Pandemic and Post
  • Future Growth
  1. Innovation Ecosystem

Continued…

Genomics Market Scope

Deliverables

  • Products
  • Instruments
  • Consumables & Reagents
  • Software and Services
  • NGS-based Services
  • Core Genomics Services
  • Biomarker Translation Services
  • Computational Services
  • Others

Technology

  • Sequencing
  • Next Generation Sequencing
  • DNA Sequencing
  • Bisulfide Sequencing
  • Microarray
  • Polymerase Chain Reaction (PCR)
  • Nucleic Acid Extraction
  • Purification
  • Others

Process

  • Library Preparation
  • Data Analysis
  • Imaging

Application

  • Functional Genomics
  • Transfection
  • Ribonucleic acid (RNA) Interference
  • Mutational Analysis
  • Single nucleotide polymorphisms (SNP) Analysis
  • Epigenomics
  • Chromatin Immunoprecipitation (ChIP & ChIP-Seq)
  • Methylated DNA Immunoprecipitation (MeDIP)
  • High-Resolution Melt (HRM)
  • Chromatin Accessibility Assays
  • Pathway Analysis
  • Bead-Based Analysis
  • Proteomics Tools (2-D PAGE; yeast 2-hybrid studies)
  • Biomarker Discovery
  • Mass Spectrometry
  • Statistical Analysis
  • Bioinformatics
  • Others

End-User

  • Government

  • Healthcare facilities
  • Hospitals and Clinics
  • Diagnostics Centers,
  • Academic Institutes
  • Clinical Research
  • Biotechnology
  • Pharmaceutical Companies
  • Others

Browse Detailed Summary of Research Report with TOC:  https://www.databridgemarketresearch.com/toc/?dbmr=global-genomics-market&Shri

Some of the Most Important Questions Scrutinized in the Business Intelligence Report:

  • What are the key growth parameters for this global market during the forecast period?
  • Which key players are expected to hold the largest market share over the forecast period?
  • Who are the leading vendors and manufacturers in this market?
  • What are the key strategies adopted by leading players in the market for business development and geographical expansion?
  • Which end-use industries can trigger high demand in the market over the forecast period?
  • What are the key segments in this market?
  • Which regional player will have anticipated leading the global market in terms of size?
  • What is the impact of the novel coronavirus pandemic?
  • Which obstacles must new players overcome in order to occupy a major position?

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