PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1211728
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1211728
Genetic Materials Market size was valued at USD XX Million in 2023, expanding at a CAGR of 12.9% from 2023 to 2030.
Genetic material is a sort of substance that includes DNA and RNA. DNA is a polymeric molecule that plays biological roles in gene decoding, coding, regulation, and expression. It is present in the nucleus of eukaryotic cells and the cytoplasm of prokaryotic cells and is utilized to determine the makeup of the organism.
Market Dynamics
The significant factors driving the growth of the genetic materials market are the rising prevalence of growing occurrence of genetic disorders and cancer. Additionally, a few of the factors that will propel the growth of the genetic material market during the forecast period include rising consumer awareness of the advantages of genetic testing, adoption of genetic testing in oncology, and rising prevention through early detection. Genetic testing has spread more quickly over the world as a result of governments' greater focus on regulating them and spreading knowledge about them. A high entry barrier has been created for new entrants due to the rising R&D funding and the significant firms in the market having a strong market presence.
Innovation in product design, quality enhancement, and reliable distribution relationships are essential components for keeping a competitive edge in the market. It is anticipated that untapped rising markets in developing nations would present industry participants with growing prospects for market growth over the forecast period. For instance, the need for genetic testing in the region has increased as a result of major increases in healthcare and infrastructure spending in developing countries such as China, Brazil, and India. The market for genetic materials is negatively impacted by the COVID-19 pandemic. This is because laboratories are unable to conduct the tests, doctors are unable to provide counseling, and genetic counselors are unable to meet with patients in person.
Segmentation Analysis:
The Global Genetic Materials Market is segmented on the basis of Type, Application, End User, and Region.
The market is split into four categories based on Type: RNA, DNA, genes, and chromosomes. The DNA category dominates the market. The increasing need for DNA gene testing and other gene processing is mainly contributing to segment growth.
The market is segmented into six categories based on application: genomics, proteomics, bioinformatics, synthetic biology, drug discovery, and others. The genomics segment dominates the market and is likely to maintain its dominance during the forecast period. This is partly due to a rise in the demand for genome engineering.
The market is segmented into four categories based on end-users: pharma & biotech, agriculture, and others. The pharma & biotech segment dominates the market and is likely to maintain its dominance during the forecast period. This is partly due to an increase in the demand for genetic materials in gene editing in the pharma sector is boosting segment growth.
Competitive Landscape:
The worldwide market for genetic materials is moderately fragmented in nature comprised of large and small-sized market players with a few large ones dominating the global market share. For instance, in November 2023, Myriad Genetics expands consumer access to genetic testing with the acquisition of Gateway Genomics and Its market-leading SneakPeek early gender DNA test.
Key features of the study:
This proposed research study on Genetic Materials market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2023-2030), considering 2023 as the base year
The research report elucidates potential growth opportunities across different segments/countries and explains attractive investment proposition matrix for Genetic Materials market
The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the Genetic Materials market
Impact of COVID-19 on Genetic Materials market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight on Genetic Materials market post-COVID will also be covered.
In order to give the users of this report a comprehensive view on the Genetic Materials market, we have also included competitive landscape and key innovator analysis for the Genetic Materials market.
The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and attractiveness.
The report offers detailed company profiling featuring major market participants which will help users to understand their financial information and strategic initiatives of players operating in the Genetic Materials market.
In addition, the report also unveil the important acquisitions & mergers, collaborations & joint ventures, new launch, research & development, regional expansion of major participants involved in the market on global as well as regional level.
The global Genetic Materials market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL GENETIC MATERIALS MARKET KEY PLAYERS
Thermo Fisher Scientific Inc.
Abbott Laboratories.
Bio-Rad Laboratories, Inc.
Myriad Genetics, Inc.
Danaher.
F. Hoffmann-La Roche Ltd
Eurofins Scientific
Illumina, Inc.
QIAGEN
Novartis AG
Agilent Technologies, Inc
Empire Genomics, LLC.
FUJIFILM Irvine Scientific
PerkinElmer Genomics
Sysmex Corporation
GLOBAL GENETIC MATERIALS MARKET, BY TYPE
DNA
RNA
Genes
Chromosomes
GLOBAL GENETIC MATERIALS MARKET, BY APPLICATION
Proteomics
Bioinformatics
Synthetic Biology
Drug Discovery
Others
GLOBAL GENETIC MATERIALS MARKET, BY END USER
Agriculture
Pharma & biotech
Others
GLOBAL GENETIC MATERIALS MARKET, BY REGION
North America
The U.S.
Canada
Europe
Germany
France
Italy
Spain
United Kingdom
Russia
Netherlands
Sweden
Poland
Rest of Europe
Asia Pacific
India
China
South Korea
Japan
Australia
Thailand
Indonesia
Philippines
Rest of APAC
Latin America
Brazil
Mexico
Argentina
Colombia
Rest of LATAM
The Middle East and Africa
Saudi Arabia
United Arab Emirates
Israel
Turkey
Algeria
Egypt
Rest of MEA