Market Research Report
Genomics Market - Growth, Trends, and Forecast (2020 - 2025)
|Published by||Mordor Intelligence LLP||Product code||925560|
|Published||Content info||120 Pages
Delivery time: 2-3 business days
|Genomics Market - Growth, Trends, and Forecast (2020 - 2025)|
|Published: February 1, 2020||Content info: 120 Pages||
The Genomics market studied was anticipated to grow with a CAGR of 9.3%, during the forecast period. The major factors attributing to the growth of the genomics market are growing government support and increased number of genomics studies, declining sequencing cost, increased genomics applications. The genomics market is geared to exponential growth as a result of the essential genetic developments and also because of its applications in numerous areas of study, such as intragenomic phenomena like epistasis, heterosis, pleiotropy, and other associations within the genome between alleles and loci. And there are few more factors which are playing crucial roles in taking the genomics market to the next level, among them one is on-bioengineering and synthetic biology applications which are expected to further propel the growth of the genomics market.
Consumables Segment is Expected to Hold the Largest Market Share in the Genomics Market
North America Dominates the Market and Expected to do Same in the Forecast Period
North America is expected to dominate the overall genomics market, throughout the forecast period. This is owing to the factors such as the rising incidence of chronic diseases such as cancer, increasing government entities investment in research, raising awareness of patients, and the availability of advanced healthcare infrastructure has contributed to growing technological advances in this sector and rising demand for biotechnological practices in the region, is anticipated to further drive the growth in this region. Further, the domicile presence of some of the major players in the region is also ensuring the dominance of the region.
The genomics market is moderately competitive and consists of several major players. In terms of market share, few of the major players are currently dominating the market. And some prominent players are vigorously making acquisitions and joint ventures with the other companies to consolidate their market positions across the globe. Some of the companies which are currently dominating the market are Illumina, Inc., Thermo Fisher Scientific, Agilent Technologies, Luminex Corporation, and Myriad Genetics, Inc.