The research report titled “Global Genomics Market Outlook: 2015-2020” analyzes the major drivers, restraints, opportunities, and challenges that have a long and short-term impact on the growth of genomics market across the globe. This latest publication from Meticulous Research® states that the global genomics market would reach $19,938.6 million by 2020 at a CAGR of 15.1% over the period of 2015 to 2020.
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With the significant decrease in the sequencing costs and rising investments in the pharmaceutical industry, the global genomics market is forecast to grow at a significant rate in the next few years. This growth is further driven by the technological innovations in bioinformatics, increasing clinical capabilities, and more clinically relevant sequencing timescales. Moreover, increasing incidence rate of cancer diseases, growing economies, and increasing genetic research and development activities in countries like India, Singapore, and China provide significant opportunities for the players to invest in this market.. However, need of significant clinical investment, lack of funding in the emerging markets, rising consolidation mainly in the instruments market, accuracy and standardization concern in diagnostic testing, and ethical and legal challenges will act as a constraint to industry growth during the forecast period.
The global genomics market is segmented by methods, technology, instruments, consumables, services, and geography. The genomics industry is still at a nascent stage with many untapped markets present across the globe. However, the sequencing method is relatively at a mature stage, especially, in the developed markets. As, the scale of genomes data grows, the data analysis and interpretation market is expected to grow at a significant rate in the near future. Next-generation DNA sequencing (NGS) technology has transformed biomedical research, making genome and RNA sequencing an affordable and commonly used tool for a wide variety of research applications. As a result, the market has been stressed to manage the enormous data output from this process. Therefore, the complexity and sheer amount of data generated by NGS has led to a need for genomic centers to form bioinformatics teams in order to analyze the output data.
North America is the major market in the global genomics market and is expected to dominate this market during the forecast period, with the U.S. contributing a major share, followed by Europe, and Asia-Pacific. On the other hand, the Asian market, especially India and China, is expected to witness a boost in demand for genomics market during the forecast period, as a result of their economic development, increasing genetic research and development activities, drastically reduced mass scale genetic testing costs, and the growing focus of the major players in this region.
The key players in the global genomics market are Affymetrix, Inc., Agilent Technologies, BGI (Beijing Genomics Institute), Illumina, Inc., Thermo Fisher Scientific, Inc., Bio-Rad Laboratories, Inc., Cepheid, GE Healthcare, Qiagen N.V, Roche Holding AG, Pacific Biosciences of California, Inc., Oxford Nanopore Technologies Ltd., Beckman Coulter Genomics, Inc., Perkin Elmer, Inc., DNASTAR, Inc, Genomatix Software Gmbh, and GenoLogics Life Sciences Software, Inc.,
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