Genomics Market Industry Evolution: Size, Growth Factors, and Forecast 2030

Genomics Market was worth US$ 30.84 Bn. in 2023 and total revenue is expected to grow at a rate of 15.35% CAGR from 2024 to 2030, reaching almost US$ 83.81 Bn. in 2030.

Genomics Market Overview:

Maximize Market Research is a Business Consultancy Firm that has published a detailed analysis of the “Genomics Market”. The report includes key business insights, demand analysis, pricing analysis, and competitive landscape. The analysis in the report provides an in-depth aspect at the current status of the Genomics Market, with forecasts outspreading to the year 2030.

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Genomics Market Scope and Methodology:

The primary objective of the report is to offer a thorough evaluation of the Genomics market, with an emphasis on a strategy centered on the market. This includes grasping the dynamics of the Genomics market, major trends, factors driving growth, obstacles, and possible opportunities. Data is collected through both primary and secondary research methods. Interaction with key market players in the Genomics industry such as manufacturers, suppliers, vendors, consumers, and specialists via interviews and surveys is done to gather primary data. Secondary data is obtained from various sources such as industry reports, market analyses, company websites, annual reports, trade journals, government publications, and databases.

The report contains a thorough examination of various business tactics employed by top companies, such as partnerships, mergers, acquisitions, and collaborations. The report assessed the company's market position through a SWOT analysis, identifying its strengths, weaknesses, opportunities, and threats. Methods such as assessing investment returns, conducting a feasibility study, and performing Porter's five forces analysis were used to analyze the Genomics market. The sizes of the global and regional Genomics markets were calculated using the bottom-up approach.

Genomics Market Regional Insights:

The report focuses on domestic factors to assess the status of the Genomics market in different countries across North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. The Genomics market is intricately segmented into these well-defined regions, providing a thorough understanding of the demand's makeup and the continuously changing factors in each geographical area.

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Genomics Market Segmentation:

by Product & Service

Consumables
Systems and software
Services

The market is divided into three sub-sectors based on product and service: consumables, systems and software, and services. In 2023, consumables will have the largest market share. Consumables are still being used in the genomic system and are being used in more and more genomic tests worldwide. This is among the elements influencing the market. The segment's revenue is produced by the major players' use of reagent and nucleic acid. With the debut of a product intended to make whole genome sequencing accessible and inexpensive for labs of all sizes in June 2021, Illumina Inc. announced the NovaSeqTM 6000 reagent kit in August 2021.

by Technology

Sequencing
Microarray
PCR
Nucleic Acid Extraction and Purification
Others

The market is further divided into submarkets for sequencing, microarray, PCR, nucleic acid extraction and purification, and others based on technology. In 2023, the genomics market's greatest share belonged to the PCR category. Growing genomics research, technological advancements, and the decreasing cost of PCR-amplification of DNA are the main drivers of the genomics market's expansion. The two main reasons propelling the market are the technical investment and the PCR-based expansion of DNA. In 2023, the second segment will have the most share. Sequencing technology has several uses, including agriculture and animal breeding, and is connected with benefits including high speed, scalability, and ultra-high throughput.

by Test Type

Diagnostic Test
Genetic Test
Newborn Screening
Pre-implantation Testing
Prenatal Testing
Carrier Testing

by Application

Diagnostic
Drug Discovery
Precision Medicine
Others

The market is divided into submarkets based on application, including diagnostics, drug discovery, precision medicine, and others. Within the genomics market, the largest and fastest-growing application segment is diagnostics. This market is expected to grow as a result of growing research into genetic abnormalities and diseases including cancer, as well as falling sequencing costs. Thanks to lower sequencing costs and greater research on genetic abnormalities and diseases like cancer, the drug discovery segment currently maintains the second position in the industry.

by Method

Molecular Test
Chromosomal Test
Biochemical Test

by End User

Research Centers
Hospitals and Clinics
Pharmaceutical Companies

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Genomics Market Key Players:

1. Thermo Fisher Scientific Inc
2. Illumina Inc.
3. QIAGEN N.V.
4. Agilent Technologies Inc
5. Eurofins Scientific
6. BGI
7. GE Healthcare
8. Bio-Rad Laboratories Inc
9. F. Hoffmann-La Roche Ltd
10.Oxford Nanopore Technologies
11.Beijing Genomics Institute
12.Foundation Medicine, Inc
13.23andMe, Inc
14.Pacific Biosciences of california
15.Myriad Genetics, Inc.

Key questions answered in the Genomics Market are:

• What is Genomics?

• What is the growth rate of the Genomics Market?

• Which are the factors expected to drive the Genomics Market growth?

• What are the upcoming opportunities and trends for the Genomics Market?

• Who are the leading companies and what are their portfolios in Genomics Market?

• What are the recent industry trends that can be implemented to generate additional revenue streams for the Genomics Market?

• Who are the key players in the Genomics Market?

• What are the different segments of the Genomics Market?

• Which is the fastest growing region in the Genomics Market?

• What growth strategies are the players considering to increase their presence in Genomics?

• What is the CAGR at which the Genomics Market will grow during the forecast period?

• What segments are covered in the Genomics Market?

Key Offerings:

• Past Market Size and Competitive Landscape 

• Past Pricing and price curve by region

• Market Size, Share, Size & Forecast by different segment 

• Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region

• Market Segmentation – A detailed analysis by segment with their sub-segments and Region

• Competitive Landscape – Profiles of selected key players by region from a strategic perspective

  • Competitive landscape – Market Leaders, Market Followers, Regional player

  • Competitive benchmarking of key players by region

• PESTLE Analysis

• PORTER’s analysis

• Value chain and supply chain analysis

• Legal Aspects of Business by Region

• Lucrative business opportunities with SWOT analysis

• Recommendations

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About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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