Genomics Market 2019 Global Industry Growth, Size, Share, Demand, Trends and Forecasts to 2026

Genomics Market Size to be Worth US$ 62,614.6 Mn by 2026, Investments by Government to Encourage Growth: Fortune Business Insights

India - August 13, 2019 /MarketersMedia/ —

The use of genomics is expanding in the medical industry, which is creating growth opportunities for the global genomics market. Recent advancements in personalized medicine and genomics have bought significant transformations in disease management. The growing use of genomics in several clinical trials is reflecting a growing trend. Consequently, the global market is expected to rise at an exponential CAGR of 18.7% between 2018 and 2026.

In 2018, the market was valued at US$ 15,888.8 Mn and it is anticipated to reach US$ 62,614.6 Mn by 2026. The gradual shift from traditional medicine to precision medicine is positively changing the healthcare environment. Genomics plays a crucial role in the treatment and diagnosis of chronic diseases.

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Adoption of Advanced Technologies Renders North America Dominant

From a geographical standpoint, North America dominated the global genomics market in 2018. The region will continue to maintain its dominance through the forecast period. Rapid technological advancements and the presence of sophisticated healthcare infrastructure are driving the market in this region. In 2018, North America was valued at US$ 6,959.3 Mn.

Europe is expected to display great growth potential owing to the wide availability of funds and the presence of large MNCs. Governments in the U.K. is increasingly making investments in research and development (R&D) activities to favour the expansion of the market in Europe.

A Myriad of R&D Activities Has Spurred Growth Prospects for Genomics Market

“Several services and start-up companies are paving their way into genomics industry by offering services which include ancestry services, direct-to-customer genomic services, among others,” stated a lead analyst at Fortune Business Insights. “Rising support from governments regarding research and funding is expected to contribute to the growth of the market,” he added. Several genomic institutes are supporting the industry by granting funds for performing research and development activities.

The lower costs of genetic procedures is likely to contribute to the development of the genomic market in the forthcoming years. Technological advancements in genomic medicine which include Next-generation Sequencing (NGS), Sanger sequencing, Polymerase Chain Reactions (PCR), and microarray are likely to drive the market. Of these, Polymerase Chain Reactions (PCR) covered the maximum share in the global market in 2018.

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Veritas Genetics Launched myGenome to Offer Personalized Services to its Customers

General Electric Company, Thermo Fisher Scientific Inc., Oxford Nanopore Technologies, Agilent Technologies, Inc., IntegraGen, QIAGEN, BGI, F. Hoffmann-La Roche Ltd, Danaher, and Illumina, Inc. are some of the leading players in the global genomics market. Among these, F. Hoffmann-La Roche Ltd, Agilent Technologies, Inc., and Illumina, Inc. are projected to dominate the global market.

Strong geographical presence and robust portfolio are factors responsible for their prominent position in the market. Several companies are entering into strategic alliances to better their market position and increase revenue. Bristol Myers Squibb collaborated with Foundation Medicine in March 2017.

TABLE OF CONTENT:

1. Introduction
1.1.ResearchScope
1.2.MarketSegmentation
1.3.ResearchMethodology
1.4.Definitionsand Assumptions

2.Executive Summary

3.Market Dynamics
3.1.MarketDrivers
3.2.MarketRestraints
3.3.MarketOpportunities
3.4 MarketTrends

4.Key Insights
4.1GenomicsResearch Spending - For Key Countries, 2018
4.2RegulatoryScenario - For Key Countries
4.3Overview ofGenomics Service Provider
4.4New ProductLaunch
4.5Start-upswith their Funding Overview
4.5Key IndustryDevelopments - Mergers, Acquisitions and Partnerships

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Research Methodology:

Fortune Business Insights follows a robust research methodology that involves data triangulation based on top-down, bottom-up approaches, and validation of the estimated market numbers through primary research. The information used to estimate the market size and forecast for various segments at the global, regional, and country level is derived from the most credible published sources and through interviews with the right stakeholders.

Growth rate or CAGR exhibited by a market for a certain forecast period is calculated on the basis of various factors and their level of impact on the market. These factors include market drivers, restraints, industry challenges, market and technological developments, market trends, etc.

SECONDARY DATA SOURCES THAT WE REFER TO:

-Annual reports, investor presentation, SEC filings, and press releases of companies operating in the market

-Studies published by relevant associations MedTech Europe; American College of Radiology; Cancer Council Australia; Japan Hospital Association, etc.), government sources (Centers for Disease Control & Prevention, Ministry of Health, Labour & Welfare, Japan; National Health Service, England, etc.), international organizations (World Health Organization, The Organization for Economic Co-operation and Development, Eurostat, etc.), and articles published by Research Gate, NCBI, etc.

-Website, reports, and press releases of end user facilities – Hospitals, Ambulatory Surgery Centres, Clinics

Contact Info:
Name: Mr. Ashwin Arora
Email: Send Email
Organization: Fortune Business Insights Pvt. Ltd.
Website: https://www.fortunebusinessinsights.com/

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Release ID: 88907649