HOME Research Insight Largest Revenue Share Of The Global Genomics Technology Market

Largest Revenue Share Of The Global Genomics Technology Market

The global genomics products market was segmented into instruments, consumables, and services. The total market was valued at an estimated $11.11 billion in 2013 and is expected to grow at CAGR of more than 12.0% during the forecast period. The Consumables segment is the highest revenue contributing product segment. This segment is expected to earn increasing revenues, owing to volume growth of genetic tests in drug discovery, biomarker discovery, and pharmacogenomics applications. PCR, DNA sequencing, nucleic acid extraction and purification reagents, and gene chips constituted over 80% of the revenue from the Consumables product segment, with PCR reagents constituting over 20% of the revenue earned in the Consumables market.

Based on technology, the PCR technology segment accounted for the largest revenue share of the global genomics technology market in 2013. However, the DNA sequencing technology segment is expected to grow significantly during the forecast period. Market adoption of silica-based technology and magnetic bead technology was highest in the nucleic acid extraction and purification technology segment. The fast spin technology was found to be the most promising upcoming technology, as it offersimproved clinical efficiency, and reduced time and cost. Other technology sub-segments expected to witness high rates of adoption include optical microarrays, micro fluidic systems, sequencing by synthesis (SBS), and single-molecule real-time (SMRT).

Based on application, the genomics market was segmented intodiagnostics, drug discovery, academic research, agricultural and animal research, and personalized medicine. The diagnostics market accountedfor the largest share of revenuesin 2013. Molecular diagnosticswas found to be the most prevalent application area under the diagnosticsapplication segment of the global genomics market.Personalized medicine and reproductive/prenatal screening were also identified assome of the most promising and emerging areas for application of genomics researchin coming years.

North America accounted for the highest share of revenues from the global genomics market, owing to the regionís focus on genomics research to improve human health. The APAC region is expected to witness the highest CAGR during the forecast period, owing to the increasing awareness of genomics applications in this region. Notable emerging regional markets for genomics includeIndia, China, South Korea, Mexico, Brazil, Russia, and Turkey.

Related Reports:

Genomics Market by Products- Instruments [NGS platform, Microarray, RT-PCR], Consumables [Genechips, Reagents for DNA Extraction & Purification, Sequencing], Services [Sequencing & Microarray Services, and Software] - Global Forecast to 2018

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