Genomics Market 2020 Global Market Growth, Size, Share, Demand, Trends and Forecasts to 2026
The use of genomics is expanding in the medical industry, which is creating growth opportunities for the global genomics market. Fortune Business Insights in a new report, titled “Genomics: Global Market Analysis, Insights and Forecast, 2019-2026” offers valuable insights into the factors enabling growth in the market. Genomics is most commonly used for the diagnosis of cancer. 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.
The report covers:
- Global Genomics Market trends, with detailed analysis on consumer trends & manufacturer trends.
- Overview on supply analysis covering trends across raw material suppliers, technology providers and distributors.
- Key areas of investments identifying market opportunities and challenges in forecast timeframe.
- Competitive analysis of the industry players along with the overview on strategic management.
- Comprehensive company profiles of the major industry players.
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Leading Players operating in the Genomics Market are:
Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the industry are:
- General Electric Company
- Thermo Fisher Scientific Inc.
- Oxford Nanopore Technologies
- Agilent Technologies, Inc.
- IntegraGen
- QIAGEN
- BGI
- Hoffmann-La Roche Ltd
- Danaher
- Illumina, Inc.
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. The demand for genomic medicine is increasing in North America on account of the rising adoption of personalized medicine and new sequencing technologies.
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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. Stanford healthcare uses genomic information to develop a personalized treatment for patients suffering from chronic illness.
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Report Focus:
- Extensive product offerings
- Customer research services
- Robust research methodology
- Comprehensive reports
- Latest technological developments
- Value chain analysis
- Potential Genomics Market opportunities
- Growth dynamics
- Quality assurance
- Post-sales support
- Regular report updates
Reasons to Purchase this Report:
- Comprehensive analysis of the Genomics Market growth drivers, obstacles, opportunities, and other related challenges.
- Tracks the developments, such as new product launches, agreements, mergers and acquisitions, geographical expansions, and joint ventures.
- Identifies market restraints and boosters.
- Identifies all the possible segments present in the market to aid organizations in strategic business planning.
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