Genomics Market Business Strategy, Development Status, Emerging Technologies, Future Plans and Trends by Forecast 2031

Genomics Market Analysis:

Genomics is a field of molecular biology that studies the structure, function, evolution, and mapping of human genomes. It has various applications across fields such as personalized medicine, disease risk prediction, drug interaction studies, environmental microorganism exploration, biofuel generation, genealogical assessments, forensic science, and agriculture. Growing investments & funding in the field of genomics, an increasing number of start-ups is expected to favor the genomics market growth.

Genomics Market Overview:

As highlighted by the Genomics Nation Report published in 2022 by the UK Bioindustry Association, companies in the field of genomics have raised a total of £1.85 (US$ 1.98) billion in venture investment, between 2017 and 2021. Out of which 39.2% of the funding was raised in 2021 alone. Specifically, genomic companies raised £718 (US$ 770.23) million in venture investment across 53 deals in 2021, which includes companies that exited during this period. Growing emphasis on research and development activities is contributing to the expansion of the genomics market.

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Key Players Analysis:

• Illumina Inc
• Danaher
• F HOFFMANN LA ROCHE LTD
• BIO RAD LABORATORIES INC
• General Electric Company
• Thermo Fisher Scientific Inc
• Agilent Technologies Inc
• Eurofins Scientific
• QIAGEN
• BGI

Cost Efficacy of Genome Sequencing Procedures to Favor Market:

In recent years, next-generation sequencing prices have declined substantially. The rapid costs reduction helps in clinical research with a greater speed and at a lowered price point. This is likely to be enticing to help startups for the health of consumers. According to an article published in Frontiers in January 2022, a study observed a cohort of 6 neonatal intensive care unit (NICU) patients in the US diagnosed by rapid whole genome sequencing (rWGS) and showed a reduction in length of hospital stay by 124 days resulting in a combined inpatient cost savings of US$ 803,200 (~ $19,000 per infant).

Artificial Intelligence - An Opportunity in Personalized Medicine:

The field of genomics has been transformed by the use of artificial intelligence. These technologies are assisting researchers and scientists in analyzing and interpreting vast amounts of genomic data. As a result, new discoveries are being made, and personalized medicine is advancing. AI-powered solutions for clinical genomics applications, such as genomic diagnostics, prognostics, and therapeutics, are transforming healthcare. AI and genomics are being utilized to detect genetic mutations and biomarkers linked to particular illnesses, allowing for the creation of personalized treatment strategies for patients.

GENOMICS Market Share Analysis by Geography:

The geographic scope of the genomics market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.

North America has dominated the genomics market. Factors such as the increasing incorporation of advanced sequencing methods in healthcare, extensive R&D activities by various academic and research institutes, and growing demand for DNA synthesis techniques from biopharmaceutical and biotechnology companies drive the growth of the genomics market in North America. Moreover, rising initiatives and fundings by the government for genome sequencing in precision medicine is further expected to stimulate market growth and contribute to exceptional revenue generation. Asia Pacific is anticipated to grow with the highest CAGR in the coming years.  

SEGMENTATION
The study conducts a SWOT analysis of each company to evaluate strengths and weaknesses. It also evaluates the trends observed in the parent market, along with the macro-economic indicators, prevailing factors, and market appeal according to different segments. The report also predicts the influence of different industry aspects on the Genomics market segments and regions.

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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the Genomics Market based on various segments. It also provides market size and forecast with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The Genomics Market by each region is later sub-segmented by respective countries and segments.

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This release was published on openPR.