Genomics Market

Market Leader - Genomics Market

The global Genomics market is projected to reach USD 23.88 Billion by 2022 from USD 14.71 Billion in 2017, at a CAGR of 10.2%. Genomics cater to a diverse group of end users, namely, research centers, academic and government institutes, hospital and clinics, pharmaceutical and biotechnology companies, and other end users such as NGO’s and agri-genomics organizations among others.

Hospitals and clinics are adopting genetic testing as the demand for pharmacogenomics, and personalized medicine is rising. Genomics are extensively used in healthcare as it helps to recognize a precise molecular sub-type of disease, to determine disease susceptibility, provide personalized treatment, in the diagnosis of cancers, monogenic disorders, and inherited disorders. Government bodies across the globe are investing heavily in research activities for advancements of genomics in diagnostic application.

Academic, government institutions as well as various dedicated public and private research institutions are extensively involved in biomedical and medical research using genomic. With the growth in the number of cancer and rare diseases research studies, the demand for genomics is expected to increase.

Thermo Fisher Scientific accounted for the largest share of the genomics instruments market. The company has its operations in over 150 countries. It focuses on expanding its product portfolio through acquisition of complimentary companies into emerging businesses. In March 2016, the company acquired Affymetrix (U.S.), a pioneer in microarray technology and a leader in genomics analysis. The acquisition was expected to strengthen the company’s biosciences portfolio. Furthermore, in February 2014, Thermo Fisher Scientific acquired Life Technologies (U.S.) for approximately USD 13.6 billion. This acquisition was aimed at opening a new reporting segment for Thermo Fisher Scientific, Inc. called Life Sciences Solutions. The Life Sciences Solutions segment is further categorized into genome sequencing and molecular/cell imaging and analysis.

Illumina dominated the global genomics market with the second largest market share of the global genomics market. The company is a leader in the DNA sequencing technology and also offers genomic services such as sequencing, library preparation and data analysis. The portfolio of NGS platforms include HiSeq Series (HiSeq 1500 and HiSeq 2500) and MiSeq series. In addition to this, in 2017, Illumina introduced a new sequencing systems series – NovaSeq which includes the NovaSeq 5000 and NovaSeq 6000 sequencing systems. The firm is engaged in the development, manufacture, and marketing of integrated systems for the analysis of genetic variations and biological functions. Illumina focuses on agreements and partnerships to expand its product portfolio and innovation. For instance, it collaborated with Koninklijke Philips with an aim of integrating sequencing systems with clinical informatics platforms to provide better acquisition, analysis, and interpretation of genomics data. The company provides sequencing services like whole genome sequencing, whole exome sequencing, de novo sequencing, custom targeted re-sequencing, gene expression using random primed RNA sampling, and other related services.

The other players of the Genomics market include QIAGEN (Netherlands), Agilent Technologies (U.S.), F. Hoffmann-la Roche (Switzerland), Oxford Nanopore Technologies (UK), BGI (China), GE Healthcare (UK), Bio-Rad Laboratories (US) among others.

Related Reports:

Genomics Market by Product and Services (Instruments/Systems, Consumables, Services), Technology (Sequencing, Microarray, PCR), Process (Library Preparation, Sequencing, Data Analysis), Application (Diagnostics) - Forecast to 2022

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Report Code
BT 2209
Published ON
Oct, 2017
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