Global Genomics Market Size Research Report To 2020 By Grand View Research
Post on 17-Apr-2015
Genomics Market By Product (Instruments, Consumables, Services), By
Application (Diagnostics, Personalized Medicines, Drug Discovery &
Development), By Technology (PCR, DNA Sequencing) Expected To Reach
USD 22.1 Billion By 2020: Grand View Research, Inc
The global market for genomics is expected to reach USD 22.1 billion by 2020, growing at an
estimated CAGR of 10.3% from 2014 to 2020, according to a new study by Grand View
Research, Inc. Genomics play an imperative role in the field of infectious disease testing by
enabling the use of fast and effective result rendering molecular diagnostic tests. This, coupled
with growing prevalence of infectious diseases and hospital acquired infections is expected to
drive market growth during the forecast period. Other driving factors for this market include
decreasing prices of DNA sequencing, increasing demand for genome analysis in animal and
plant feedstock, extensive presence of both private and public external funding programs and
growing patient awareness levels. In addition, presence of untapped growth opportunities in
emerging countries such as India, Brazil and China and the increasing health awareness are
expected to serve this market as future growth opportunities.
Genomics based diagnostics dominated the overall market in terms of revenue at 36.4% in 2013
majorly owing to the presence of a relatively larger number of R&D programs. Genomics based
personalized medicine segment on the other hand is expected to grow at the fastest CAGR of
over 12.0% from 2014 to 2020 due to increasing demand for population based therapeutic
solutions and subsequent increase in R&D initiatives.
The report Genomics Market Analysis By Product (Instruments, Consumables, Services), By Application (Diagnostics, Personalized Medicines, Drug Discovery & Development, Academic
Research, Agricultural), By Technology (PCR, DNA Sequencing, DNA Microarrays, Nucleic
Acid Extraction & Purification) And Segment Forecasts To 2020 is available now to Grand View Research customers and can also be purchased directly
Further key findings from the study suggest:
Consumables dominated the genomics market in terms of share at over 50% in 2013; mainly due to increasing rates of commercial adoption of genomic testing for various applications
especially in the field of drug discovery and development.
North America was the largest regional market in 2013, at over 35.0% owing to the presence of sophisticated healthcare infrastructure, high patient awareness levels, healthcare expenditure and
relatively larger number of R&D exercises pertaining to drug discovery and development.
Asia Pacific is expected to grow at the fastest CAGR of 12.7% from 2014 to 2020. Growing demand for cost effective clinical outsourcing and the presence of high unmet medical needs in
emerging countries such as India and China are some of the factors attributing to the rapid
market growth in this region.
DNA sequencing is one of the most commonly used technologies in biological and medical research laboratories for various applications such as DNA-based phylogeny, DNA cloning,
functional analysis of genes, genetic fingerprints identification, detection and diagnosis of
hereditary and infectious diseases. On account of the growing demand for all these applications,
this segment is expected to grow at the highest CAGR during the forecast period.
Key industry participants of this market include Affymetrix, Inc., Agilent Technologies, BGI, Bio-Rad Laboratories Inc., GE Healthcare, Illumina Inc., Qiagen, Roche Diagnostics, Life
Technologies and Cepheid.
For the purpose of this study, Grand View Research has segmented the genomics market on the
basis of product, application, technology and region:
Genomics Product Outlook Instruments Consumables Services Genomics Application Outlook Diagnostics Personalized Medicines Drug Discovery and Development Academic Research Agriculture Genomics Technology Outlook PCR DNA Sequencing DNA Microarray Nucleic Acid Extraction and Purification Genomics Regional Outlook North America Europe
Asia Pacific RoW
About Grand View Research
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objective insights. For more information, visit http://www.grandviewresearch.com/
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