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12-Mar-2019

Genomics Market Size Worth USD 27.6 Billion by 2025 | CAGR: 9.1%: Grand View Research, Inc.

SAN FRANCISCO, March 12, 2019 /PRNewswire/ -- The global genomics market size is expected to reach USD 27.6 billion by 2025, according to a new report by Grand View Research, Inc. The market is projected to expand at a CAGR of 9.1% over the forecast period. The past decades have witnessed significant changes in disease management processes due to simultaneous advancements in genomics and personalized medicine. There has been a gradual growth in the usage of genomic studies in clinical practices, which is reflected by the rising trend of targeted therapies.

Key suggestions from the report:

  • Growing interest of pharma and biotech companies in genomics is expected to drive the genomics market in coming years
  • NGS-based services held a major share of the market due to its rapid adoption in whole genome sequencing and application of sequence databases for disease screening and prognosis
  • The demand for these services would remain strong due to growing customer base from academic and research centers to CROs and biotech and pharma companies
  • Use of predictive biomarkers for diagnosis and monitoring takes cancer eradication a step further
  • Moreover, various organizations and programs are actively participating in the development of novel biomarkers for cancer diagnosis
  • With the rising health consciousness Direct-To-Consumer (DTC) laboratory testing is increasingly being employed. Such genetic tests enable consumers to access information about their genetics without having to visit healthcare professionals
  • Asia Pacific is the potential regional market for genomics. It is anticipated to expand at the highest CAGR of 11.2%
  • Major companies in the market include Beijing Genomics Institute (BGI); Agilent Technologies; Thermo Fisher Scientific, Inc.; Bio-Rad Laboratories, Inc.; Foundation Medicine, Inc.; 23andMe, Inc.; Danaher, Illumina, Inc.; Pacific Biosciences; Oxford Nanopore Technologies; F. Hoffmann-La Roche Ltd.; and Myriad Genetics, Inc.

Read 120 page research report with TOC on "Genomics Market Size, Share & Trends Analysis Report By Deliverables, By Application & Technology (Functional Genomics, Epigenomics), By End Use (Pharma & Biotech Companies), And Segment Forecasts, 2019 - 2025" at: https://www.grandviewresearch.com/industry-analysis/genomics-market

Results from genomic studies enable a better understanding of diseases and the underlying mechanisms for researchers, physicians, and patients. This facilitates evidence-based decision-making, and hence, helps improve personalized treatment regime. In addition, technological advancements in data analysis tools have motivated healthcare community to create precision-based therapies from surplus, available DNA data.

One of the most important factors, which are likely to have a significant impact on the market, is that how much and to what extent the medical community will make the use of available genomic information in personalized medicine. Furthermore, plummeting cost of sequencing has enabled the whole genome sequencing at very less price. Scientists are combining the sequencing generated data with diagnostics, which has proven its effectiveness in enhancing personalized treatment landscape.

The companies are involved in strategic alliances with global, as well as local, entities to boost their revenue generation and enhance their share in the market. For instance, in March 2017, Foundation Medicine collaborated with Bristol-Myers Squibb Company. This enabled Bristol-Myers Squibb to deploy Foundation Medicine's molecular information solutions and comprehensive genomic profiling for identification of predictive biomarkers, such as Microsatellite Instability (MSI) and Tumor Mutational Burden (TMB), to accelerate its immunotherapy clinical trials.

Grand View Research has segmented the global genomics market on the basis of deliverables, application & technology, end use, and region:

 

  • Genomics Deliverables Outlook (Revenue, USD Million, 2014 - 2025)
    • Products
      • Instruments/Systems
      • Consumables/Reagents
    • Services
      • Core Genomics Services
      • NGS-based Services
      • Biomarker Translation Services
      • Computational Services
      • Others

 

  • Genomics Application & Technology Outlook (Revenue, USD Million, 2014 - 2025)
    • Functional Genomics
      • Transfection
      • Real-time PCR
      • RNA Interference
      • Mutational Analysis
      • SNP Analysis
      • Microarray Analysis
    • Epigenomics
      • Bisulfite Sequencing
      • Chromatin Immunoprecipitation (ChIP-Seq)
      • Methylated DNA Immunoprecipitation (MeDIP)
      • High Resolution Melt (HRM)
      • Chromatin Accessibility Assays
      • Microarray Analysis
    • Pathway Analysis
      • Bead-based Analysis
      • Microarray Analysis
      • Real-time PCR
    • Proteomics Tools (2-D PAGE; yeast 2-hybrid studies)
      • Biomarker Discovery
      • Mass Spectrometry
      • Real-time PCR
      • Microarray Analysis
      • Statistical Analysis
      • Bioinformatics
      • DNA Sequencing
    • Others

 

  • Genomics End-use Outlook (Revenue, USD Million, 2014 - 2025)
  • Clinical Research
    • Academic and Government Institutes
    • Hospitals and Clinics
    • Pharmaceutical and Biotechnology Companies
    • Other End Users

 

  • Genomics Regional Outlook (Revenue, USD Million, 2014 - 2025)
    • North America
      • U.S.
      • Canada
    • Europe
      • Germany
      • U.K.
    • Asia Pacific
      • Japan
      • China
    • Latin America
      • Brazil
    • Middle East and Africa (MEA)
      • South Africa

Find more research reports on Biotechnology Industry, by Grand View Research:

  • Cell Banking Outsourcing Market  -The Global cell banking outsourcing market size was valued at USD 2.93 billion in 2014 and is expected to grow at an estimated CAGR of 16.4% from 2015 to 2022.
  • Genomics In Cancer Care Market  - The global cancer genomics market size was valued at USD 9,216 million in 2014 and is expected to grow at CAGR of 17.3% over the forecast period.
  • Pre-packed Chromatography Columns Market  - The Global pre-packed chromatography columns market is anticipated to exhibit lucrative growth over the forecast period owing to the rising R&D in the analytical departments of pharmaceutical and biotechnology sector.

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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Last Updated: 12-Mar-2019