Genomics Market Growth, Trends and Forecast up to 2024

Genomics, the science of studying genomes and their interaction with a variety of stimuli, has been the focus of extensive research and development activities in the few years. The field has witnessed a significant rise in technologies that promise a better understanding of genomes and their interaction with the environment and tools that use research results to understand the role played by genomes in the growth and survival of all organisms.

This report on The Global Genomics Market presents a thorough overview of the present state of the market and its segments, with projections estimating the future dynamics of market’s growth trajectory. Predictions about the market are formed based on a detailed analysis of factors such as drivers, restraints, popular trends of past and present times, regulatory scenario, recent developments in terms of technology and products, level of competition in the market.

The market has been examined on regional and global levels and vast qualitative and quantitative details pertaining to key aspects of the market have been included in the study. The report also presents a detailed analysis of the competitive landscape of the market, wherein details for aspects such as profiles of key vendors, recent developments, financial data (wherever available), growth strategies, and association with activities such as mergers and acquisitions are covered.

Global Genomics Market: Trends and Opportunities

The global genomics market is chiefly driven by the intensifying level of competition in the global pharmaceutical industry and the increased use of genomics in research and development of new drug classes. An increased demand for genetically modified animals and plants and the constantly reducing prices of genetic procedures are also leading to significant developments in the global genomics market through a rising scope for research and innovation.

The use of genomics concepts in the field of synthetic biology, to study gene sequences of plants and living organisms, is expected to leverage the progress made in the field of synthetic cells and DNAs in the near future. Such rise in applications is also expected to lead to vast traction to the global genomics market in the future.

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Global Genomics Market: Geographical Dynamics

The report presents an overview of the market for genomics across regions such as North America, Europe, Asia Pacific, and Middle East and Africa. Developed regions such as North America and Europe presently lead the global genomics market owing to the availability of abundant funds and the presence of a large number of companies undertaking research in the field of molecular biology. In Europe, vast initiatives undertaken by the European Union to encourage research in the field of genomics has spurred the rate of growth of the market.

In the next few years, the market is expected to witness the most significant development across Asia Pacific owing to strengthening economies of developing countries such as India and China and the increased focus of the respective governments on encouraging research in the field of genomics. Furthermore, the fact that China hosts the world’s largest genomic research institute, the Beijing Genomics Institute, is also helping the Asia Pacific genomics market to sustain its growth rate.

Companies Mentioned in the Report

The global genomics market features a vast number of companies from the healthcare industry and several educational institutions, which are enriching the field through their research activities and innovative technologies that could present a more efficient analysis of genomes. Some of the key companies operating in the market are Bayer AG, Affymetrix Inc., Agilent Technologies, Inc., Genomatix Software Inc., Navigenics, Inc., Roche Diagnostics, Myriad Genetics, Inc., QIAGEN, Inc., Illumina, Inc., and GE Healthcare.

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