Genomics Market is projected to reach 26.4 USD billion by 2023
Posted by rohan on July 4th, 2018
The Genomics Market was worth USD 16.47 billion in 2018 and estimated to be growing at a CAGR of 9.9%, to reach USD 26.4 billion by 2023.
Genomics, the science of studying genomes and their interaction with a variety of stimuli, has been the focus of extensive research and improvement activities within the few years. The sector has witnessed a significant rise in technologies that promise better information of genomes and their interplay with the surroundings and gear that use studies outcomes to recognize the position performed by using genomes in the growth and survival of all organisms.
Genomics is the study of the genetic material or genomes of an organism. It's expected to be a robust basis for the invention and development of diagnostic and therapeutic solutions for quite a number of human illnesses or health situations. Genomics is supported by three predominant product segments: units, consumables, and services. The key end-users of such products encompass the Diagnostics market, instructional and academic institutions, and the Pharmaceutical industry.
The global genomics market is greatly increased by means of the intensifying stage of competition in the worldwide pharmaceutical industry and the extended use of genomics in studies and improvement of recent drug training. An accelerated demand for genetically modified animals and plant life and the continuously reducing prices of genetic methods are also leading to considerable developments in the worldwide genomics market through a rising scope of research and innovation.
Genomics is a discipline which analyzes the feature and structure of genomes. It makes use of various sampling, sequencing, and statistical analysis and interpretation techniques to decode, gather, and examine genomes. The knowledge of the entire set of DNA enables to become aware of sure genetic sicknesses, develop a high-quality course of treatment, and make a contribution to precision medicine. The usage of genomics ideas within the discipline of synthetic biology, to take a look at gene sequences of plants and residing organisms, is anticipated to leverage the progress made in the subject of artificial cells and DNAs in the near future.
Developed regions within North America and Europe presently lead the global genomics market. The market is predicted to witness the giant improvement across the Asia Pacific attributable to strengthening economies of growing nations consisting of India and China.
The leading companies of the market include Affymetrix, Inc., Agilent Technologies, BGI, Bio-Rad Laboratories Inc., GE Healthcare, Illumina Inc., Qiagen, Roche Diagnostics, Life Technologies, and Cepheid.
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About the Authorrohan
Joined: September 20th, 2017
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