Global Genomics Market: Biological Understanding of Genomes to Personalize Medication and Therapeutics

Global Genomics Market

Genomics is that field of science which is focused on the understanding of genomes and their interaction between different stimuli. This area has been in demand ever since the scientists and various biotechnology organizations understood the significant benefits behind the understanding of genomes are directly related to their understanding of the environment. This study utilizes various bioinformatics, DNA sequencing methods, and various forms of recombinant DNA for the assembly, analysis and understanding the structure of genomes in the environment.

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The main factors behind the growth of the market are:

  • Increasing government funding: With this field of study still in its early stages, various organizations and authorities are focusing their interests on advancements of their understanding genomes. This interest is translated into high levels of financial expenditure being incurred on research & development so that an enhanced quality of resources to be presented with this field of study
  • Rising application areas of genomics: One of the major factors responsible for the growth of the market is the increasing areas of application wherein the usage of genomics is being extended. The application area of genomics includes diagnostic process for various disorders, drug discovery for different diseases and the development of these drugs, delivery of precision medication, research fields for agriculture and animal-based. These areas are set to expand, once as greater information regarding this field of study is grasped by various scientific resources and authorities

The market is segmented on the basis of product & services as instruments/systems, consumables, services; technology as sequencing, microarray, PCR, nucleic acid extraction & purification; application is segmented into diagnostics, drug discovery & development, precision medicine, agriculture & animal research; process is categorized into sequencing, library, preparation, data analysis; end-user is categorized into research centers, academic & government institutes, hospitals & clinics, pharmaceutical & biotechnology companies, others.

Some of the recent market developments are as follows:

  • In December 2018, 10x Genomics announced that they had acquired Spatial Transcriptomics, with the company having an established presence in spatial genomics. This acquisition will help in 10x Genomics having an enhanced knowledge of biological technologies, helping progress the growth of the organization. Globally, genomics have expanded in knowledge and application areas significantly and with Spatial Transcriptomics expected to enhance their presence in Sweden
  • In May 2018, Illumina, Inc. announced that they had acquired Edico Genome, which is expected to help the company achieve a more standardized process of sequencing data. The acquisition includes Edico’s “DRAGEN” platform which will help in complementing the capabilities of Illumina, Inc. in providing shorter result time cycle with a focus on interpretation and reporting of tests

 “According to Data Bridge Market Research, global genomics market is growing at a substantial CAGR of 9.5% during the forecast period of 2017 to 2024”

Some of the major players operating in the market are General Electric, Danaher, Thermo Fisher Scientific Inc., F. Hoffman-La Roche Ltd, Illumina, Inc., QIAGEN, Merck & Co., Inc., Agilent Technologies, Bio-Rad Laboratories, Inc., Genotypic Technology Pvt Ltd, Macrogen, Inc., Eurofins Scientific, PerkinElmer Inc., Personalis Inc., Pacific Biosciences of California, Inc., Oxford Nanopore Technologies, Eppendorf AG, Novogene Corporation, SciGenom Labs Pvt. Ltd, TAKARA HOLDINGS INC., Kohlberg Kravis Roberts & Co. L.P., GENEWIZ, Genomatix GmbH, Biomatters Limited, Strand Life Sciences Pvt. Ltd., DNASTAR, Inc. and New England Biolabs among others.

With a significant prevalence of chronic and rare life-threatening diseases, there is a need for development of personalized effective therapeutics. This process is fulfilled through a number of scientific technologies, and although a number of variations in technologies are available; various biotechnology organizations prefer the usage of genomics to achieve this personalization as it is a highly advanced technological solution and provides highly effective conclusive results.