Global Genomics Market is Expected to Grow at a CAGR of 15.6% in the Forecast Period of 2024-2032

The global genomics market was led by North America in 2020. North America is leading the market due to the increased funding for research and government genomics initiatives. On the other hand, the Asia Pacific region is expected to report the highest CAGR during the forecast period. China hosts the Beijing Genomics Institute, the world's largest genomics research institution, which helps the Asia Pacific genomics market sustain its growth.

In February 2021, Illumina, Inc. (NASDAQ: ILMN), one of the key players in the industry, announced its partnership with the University of Melbourne to combat challenging cancers. The collaboration focuses on scientific research and innovation focused on genomics, helping in the identification and treatment of diseases like cancer. Illumina will have its Australian headquarters in the Melbourne Biomedical Precinct with the University. The program addresses the most complex cases of cancer, like rare or aggressive tumours, which are resistant to normal or typically difficult to diagnose.

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Market Analysis by Product, Technology, Application, End Use, and Region:

• The products in the genomics market can be divided into consumables, systems and software, and services.

• The technology available in the industry is segmented into PCR, sequencing, microarray, nucleic acid extraction and purification, and others.

• It finds application in diagnostics, drug discovery and development, precision medicine, and agriculture and animal research, among others.

• The end-uses of the industry include research centres and academic and government institutes, hospitals and clinics, pharmaceutical and biotechnology companies, and others.

• The regional markets of genomics include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The global genomics market is being driven by the rising application of the technology in various genetic research in health programs.

• The rising support by the governments and financing departments in the form of investments is boosting the market growth.

• The growth in the genomics industry is majorly supported by the growth of the genomic data market.

• The increased application of genomics in pharmaceutical industries, as well as research programs, is propelling the market growth.

• The entry of new key players is propelling the market development further.

Key Offerings of the Report:

• The EMR report gives an overview of the global genomics industry for the periods (2018-2023) and (2024-2032).

• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the product, technology, application, end-use, and regional markets of genomics.

• The EMR report also provides an insight into the regional price analysis of the global genomics market for the (2018-2023) and (2024-2032) periods.

• It assesses the market based on the SWOT and Porter’s Five Forces models.

The major key players in the global genomics market include companies like Illumina, Inc, Qiagen, Eurofins Scientific, Agilent Technologies, Inc., Oxford Nanopore Technologies, F. Hoffmann-La Roche, Bio-Rad Laboratories, Inc., and BGI Group, among others. The comprehensive report covers their market share, capacity, and latest developments like mergers and acquisitions, and capacity expansions.

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