Genomics Market , trends, share, industry size, growth, demand, opportunities and forecast by 2030

The International Genomics Market research report takes into consideration the important parameters namely market analysis, market definition, market segmentation, key market trends, competitive analysis, and research methodologies. The report provides quantitative and qualitative insights on various product market constraints and motivations to help users obtain accurate information. Market drivers and restraints are well explained using SWOT analysis. Therefore, the Premium Genomics Market Report is an important tool to expand your business activities, generate quality work and increase profits.

The Genomics Market Research Report offers several benefits that can be applied to different aspects of the Genomics Market industry. Before starting your advertising campaign, it is helpful to define your target group of customers. In this market report, important industry trends, market size, and shares are analyzed and discussed in detail. The winning report used a formal management approach to conduct market research and provide the best solution. This global market research report studies the market at regional and global levels considering key geographical areas. The Genomics s Market report offers a comprehensive study of the market in terms of revenue and evolving business sectors.

Data Bridge Market Research analyses that the genomics market which was USD 31.56 billion in 2022, is expected to reach USD 106.14 billion by 2030, growing at a CAGR of 16.37% during the forecast period of 2023 to 2030.

Market Overview

Genomics is the study of deciphering, interpreting, applying, and interpreting DNA code to various problems. Genomics is one of the most helpful technologies in today’s world. Genomics is significant for genome sequencing as different generic variants can be identified through genomics which can be riskier for asymptomatic people for disease development. Genomics helps identify different undiscovered antimicrobial compounds and for keeping bacterial diseases away.

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Genomics Market Dynamics

Drivers

Growing incidence of cancer

The incidence of cancer and the increasing applications of next-generation sequencing in cancer research is a significant factors helping in the market’s growth. Genomics is modifying the way cancer is diagnosed and treated. Genome research is improving the methods of diagnosing cancer using a blood sample. Screening tests to find cancer that are inherited are increasing due to genomics. Therefore, the growing incidents of cancer and the successful use of genomics for diagnosing and treating cancer are boosting the market’s growth.

Implementation of artificial intelligence

Artificial intelligence (AI) implementation in genomics has increased in the past few years. The data generated through sequencing technologies are analysed by artificial intelligence algorithms, enabling quick and precise diagnosis of genetic variations responsible for a particular disease. Artificial intelligence is also used to develop personalized patient treatment plans. This helps doctors prescribe the most beneficial treatment for the patient. Thus, the use of artificial intelligence provides accurate results, therefore, AI is becoming a major opportunity for the market’s growth.

Opportunities

Research and development on genomics

The growing focus on genomics research and developments is contributing to the growth of the genomics market. In July 2022, WHO’s Science Council of Experts was launched for the equitable expansion of genomics. It includes a focus on increasing access to genomic technologies, majorly in countries with low and middle incomes, by directing the shortfalls in the financing, materials, highly trained professionals, and laboratory infrastructure. Therefore, all these initiatives are expected to help in the significant growth of the market.

Applications of genomics in rare disorder diagnosis

Through large-scale genetic testing, it is possible to increase diagnosis and treatment options for patients with rare diseases. The ability to understand genomes quickly and inexpensively has led to advances in the diagnosis of rare disorders. This increased diagnosis and treatment provide significant relief to patients suffering from rare disorders, as well as help the patients to understand the risk of disorder to future generations. Thus, applications of genomics in diagnosing and treating rare disorders would help grow the market.

Restraints/Challenges

Requirement of trained professionals

Genomics involve complex procedures such as a combination of recombinant DNA technology, DNA sequencing methods, and bioinformatics. It is used to sequence, assemble, and analyze the structure and function of genomes. Thus, it requires skilled genetics professionals. The lack of skilled genetics professionals is a major challenge hindering market growth. The shortage of trained genetic professionals has resulted in wrong result interpretations and false observations during genetic research and testing. Therefore, the lack of trained professionals is one of the main challenges hindering the global market.

Handling of sensitive instruments

Genomics studies involve procedures such as gene editing, amplification, sequencing, and multiplexing, which are highly complex and sensitive. Advanced instruments such as microarray equipment, PCR instruments, centrifuges, analyzers, liquid handling equipment, and sequencers are used in these procedures. Therefore, all the instruments must be handled with the utmost care. Handling these sensitive instruments is a major growth obstructing factor for the market.

This genomics market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the genomics market contact Data Bridge Market Research for an Analyst Brief, our team will help you make an informed market decision to achieve market growth.

Some of the major players operating in the genomics market are:

Agilent Technologies, Inc. (U.S.)
Bio-Rad Laboratories, Inc. (U.S.)
BGI (China)
Color Health, Inc. (U.S.)
Danaher (U.S.)
Eppendorf SE (Germany)
Eurofins Scientific (Luxembourg)
F. Hoffmann-La Roche Ltd. (Switzerland)
GE Healthcare (U.S.)
Illumina, Inc. (U.S.)
Myriad Genetics, Inc. (U.S.)
Oxford Nanopore Technologies plc. (U.K.)
PacBio (U.S.)
QIAGEN (Germany)
Diagnostics Incorporated (U.S.)
Thermo Fisher Scientific, Inc. (U.S.)
23andMe, Inc. (U.S.)
FOUNDATION MEDICINE, INC. (U.S.)
IntegraGen (France)
Genome Diagnostics Pvt. Ltd. (India)
Cytiva (U.S.)

Key Offerings:

Past Market Size and Competitive Landscape (2018 to 2022)
Past Pricing and price curve by region (2018 to 2022)
Market Size, Share, Size & Forecast by different segment | 2023−2029
Genomics 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
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