Genomics Market by Technology, by End-User and Geography – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2019 – 2026

The Global Genomics Market is as estimated at USD 18.5 billion in 2019. The market is expected to grow at a CAGR of 12% during forecast period 2020-2026, owing to surge in demand for genetically modified animals and plants, non-invasive cancer screening-based research rise in demand for nucleic acid sequencing and growth in the number of genomics projects.

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Genomics is an evolving field wherein massive changes on technological front enables researchers to combine massive pieces of human genome. Research in genomics initiated in the early 80s following the development in polymerase chain reaction that allowed scientists and researchers to illustrate the genome at an individual level. In the past two decades owing to the widening scope of gene study in humans and clinical research, next generation sequencing (NGS) has resulted in a cost decline. This approach in return alters the genomics research and opens new avenues to clinical genomics. Genomic techniques are widely used in the clinical settings and have influenced the study of infectious disease, inherited disease and cancer by conducting a meta-analysis on new analytes and enhancing the turnaround time as compared to conventional approach.

Genomics Market Trends, Drivers and Opportunities:

There are certain trends that the market is expected to observe in 2020. i.e. high acceptance for NGS, shift to single-cell biology, high emergence of RNA biology, determining the magnitude of research experiment and a vast use of genotype and phenotype. Analysing each and every trend leads in understanding the potential of lucrative opportunities of medical companies, clinics and life science researchers. Therefore, the industry development is highly dependent on the strategies and active participation of these factors.

The genomics market is significantly driven by rise in healthcare research and initiatives for vertical integration of genetic integration into clinical workflows. For instance, Stanford HealthCare employs genomic information to plan personalized treatments which would in turn help in closing the gaps between clinical diagnosis and translational research. The market witnesses lucrative growth opportunities owing to rise in studies of human genetics and public health programs such as population, screening and consumer wellness programs.

In addition, significant investments, active participation of NGO’s, and extensive research by biotechnology companies have fast-tracked the genomic research. Moreover, scientists are now combining the sequencing data with diagnostics which is instrumental in shaping the demand for personalized treatment. The market also exhibits lucrative growth opportunities pertaining to the execution of genetic studies and public health. These programs are highly aimed at elevating preventive care for cancer and heart diseases.

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