Genomics Global Market - Forecast to 2027
- November 2020 •
- 525 pages •
- Report ID: 5987988 •
- Format: PDF
Genomics is the branch of biotechnology where different techniques of genetics and molecular biology are employed to map the DNA sequences of targeted genes or the complete set of genomes of interest and then organizing the results in the database and application of data in various fields.
Genomics technologies are gaining popularity as they play important role in the early disease diagnosis, prognosis, disease progression monitoring, recurrence monitoring; personalized medicine along with playing a vital role in the discovery & development (target identification and validation of new targets for drugs), plant genome studies, forensics, and food technology, etc.
According to the analysis, the genomics global market is expected to reach $31,835.9 million by 2027 growing at a mid single digit CAGR from 2020 to 2027. The factors driving the genomics market are demand for early disease detection, diagnosis, and treatment, rising government and private funding, reduced cost of genomics test and favorable reimbursement, increasing demand for personalized medicine, increasing application of genomics in drug discovery & development and technological advancements. Whereas, factors restraining the market growth are high cost of instruments and special research materials, analytical validity of the result, lack of standardization, complexity, lack of skilled professionals, and factors such as stringent and time-consuming regulatory guidelines, data security and regulatory issues, large data management issues are threats to market growth.
The genomics market is classified into products, applications, end-user, and geography. The products market is further segmented into instruments, consumables, software & services, and genomics services, among them, consumables segment accounted for the largest revenue in 2020 and is expected to grow at a high single digit CAGR from 2020 to 2027. The genomic services is fastest growing segment and is expected to grow at a high single digit CAGR from 2020 to 2027.
The instruments market is further sub-segmented into Polymerase Chain Reaction (PCR) instrument, sequencing instruments, Nucleic acid extraction, and purification instruments, In-situ hybridization (ISH) instruments, DNA Microarray instruments, Isothermal Nucleic Acid Amplification Technology (INAAT) instruments and other instruments. Among them, the Polymerase Chain reaction (PCR) instruments segment accounted for the largest revenue of in 2020 and is expected to grow at a low single digit CAGR from 2020 to 2027. This is attributed to extensive use of PCR (qPCR) use in diagnostics-i.e., lab-based tests- early screening, prognosis, recurrence screening, NIPT, organ transplantation, food and agriculture and also advancement in PCR systems, launch of advanced PCR instruments, automated workflows, increasing approvals of PCR bases assays for medical diagnosis and other as high specificity of experimental condition, specificity alteration of the targeted DNA, errors due to the inherent nature of DNA polymerase, the requirement of prior sequence information to design primers, lack of technical professionals and also value added advantages of NGS will restrain the use of PCR market. The sequencing is fastest growing instruments segment at a low single digit CAGR from 2020 to 2027. The software and services market is estimated to be $xx million in 2020 and is expected to grow at a low single digit CAGR from 2020 to 2027.
The consumables market is further segmented into Polymerase Chain reaction (PCR) consumables, sequencing consumables, nucleic acid extraction and purification consumables, In-Situ Hybridization (ISH) consumables, DNA Microarray consumables, Isothermal Nucleic Acid Amplification Technology (INAAT) consumables, and other consumables. Among them, the Polymerase Chain reaction (PCR) consumables segment accounted for the largest revenue in 2020 and is expected to grow at a high single digit CAGR from 2020 to 2027. This is attributed to the increased demand for molecular (PCR) based test for disease detection especially in infectious disease, early disease screening, prenatal testing, increased application of PCR in crop variety identification & development, forensics, species identification (virus, bacteria), and evolutionary studies. The sequencing is fastest growing consumables segment at a high single digit CAGR from 2020 to 2027. This is attributed to the low cost of NGS based tests, increasing awareness about NGS based genetic testing, advancements in NGS based technologies, increased focus in developing NGS based panel test for early screening and also increasing focus in the application NGS in in drug discovery and development programs, crop improvement, forensics science, and food technology.
The Genomics Service market is segmented into NGS Services, PCR Services, Microarray Services, and other services. Among these, NGS Services is largest and fastest growing segment in 2020 and are expected to grow at high single digit CAGR from 2020 to 2027 due to increasing adoption of NGS based tests over other tools, reduced cost of NGS based tests, and favorable reimbursement facility for gene testing.
Based on application, the market is segmented into diagnostics, drug discovery & development, plant genomics, and other applications. Among these, the diagnostics is largest &fastest growing segment and is expected to grow at high single digit CAGR from 2020 to 2027. This is attributed to the outbreak of various infectious diseases like influenza, Ebola, COVID-19 in recent years, adoption of early screening, companion diagnostic tests, prenatal screening of genetic diseases, favorable reimbursement facility, and advancements in analytical tools, etc. The diagnostics market is further sub-segmented into infectious and non-infectious, among which, the infectious segment generated the largest revenue of in 2020 and is expected to grow at mid single digit CAGR from 2020 to 2027. The non-infectious segment is fastest growing segment and is expected to grow at high single digit CAGR from 2020 to 2027. This is attributed to the all-embracing use of PCR and NGS based tests in diagnostics mainly for early screening of oncology diseases, and other CNS and metabolic diseases.
The end-users of genomics market is segmented into Pharma & Biotech, Hospital & Clinical Laboratories, Contract Research Organization (CRO’s) and others. Among the end-users, Hospital & Clinical Laboratories segment accounted for the largest revenue in 2020 and is expected to grow at a high single digit CAGR from 2020 to 2027. This is mainly attributed to the increase in early screening, genetic testing, and diagnostics tests and kits developed for the same that are mainly conducted in hospital laboratories, prescribing for companion diagnostics, etc. The Contract Research Organization (CRO’s) is fastest growing segment at high single digit CAGR from 2020 to 2027 due to increased outsourcing for maximum utilization of genomic technologies in drug discovery process, the launch of new genomic services and increasing capabilities to offer end-to-end genomic services.
By Geography, the genomics global market is segmented into North America (U.S. and Rest of North America), Europe (Germany, France, Italy, and Rest of Europe), Asia-Pacific (Japan, China, India and Rest of APAC) and Rest of the world (Brazil, Rest of Latin America and the Middle East & Africa). Among these, the North America region dominated the genomics global market with a share of xx% accounting for the largest revenue in 2020 and is expected to grow at a mid single digit CAGR from 2020 to 2027. This is attributed to increased incidence of cancer & other metabolic diseases, increased awareness about the early screening & disease detection, prenatal and genetic testing, gene editing, presence of major players and popular research institutes increase funding, favorable reimbursement facilities, research in crop improvement, presence of advanced technologies & skilled labors are expected to drive the genomics market in North American region. Asia-Pacific is fastest growing region in Genomics market and is expected to grow double digit CAGR from 2020 to 2027.
The Genomics market is consolidated with the 6 top players occupying xx% of the market share and the remaining xx% of the market is occupied by other players and service providers. The key players in Genomics Global Market include F. Hoffmann-La Roche Ltd. (Switzerland), Illumina Inc. (U.S.), Thermo Fisher Scientific, Inc. (U.S.), Qiagen N.V. (Netherlands), Danaher Corporation. (U.S.), Exact Sciences Corporation (U.S.), Myriad Genetics (U.S.) Bio-Rad Laboratories, Inc. (U.S.), Hologic, Inc (U.S.), Merck KGaA (Germany), Abbott Laboratories (U.S.), BGI Genomics (China) and others.
The report provides an in-depth market analysis of the above-mentioned segments across the following regions:
• North America
o Rest of North America
o Rest of Europe
o Rest of APAC
• Rest of the World (RoW)
o Rest of Latin America
o The Middle East and Africa