Abstract
Summary
The global genomics market is projected to reach USD 83.1 billion by 2028 from USD 46.2 billion in 2023, at a CAGR of 12.4% during the forecast period of 2023 to 2028. . Continuous developments in sequencing technologies and a better understanding of genomics have increased the efficiency of biomarkers in disease detection. Since precise diagnosis and personalized medicine increase survival rates as well as reduce the financial burden on national health insurance programs, governments across the globe are making significant investments in genome sciences, and key players in the genomics market are increasingly collaborating with each other as well as with smaller players, biopharmaceutical companies, and other end users to expand their product offerings across the globe which is promoting market growth. However, dearth of skilled players, ethical issues and the issues associated with secure storage of large volume genomics data is hampering market growth.
Consumables & Reagents is expected to account for the largest share for product and services segment.
Based on product and service, the genomics market is segmented into consumables and reagents, services, and instruments, systems, and software. In 2022, the consumables and reagents segment accounted for the largest share of the genomics market. The growing applications of genomics in various fields, such as diagnostics, personalized medicine, and drug discovery, animal research, are expected to boost the market for consumables and reagents during the forecast period.
The microarrays segment accounted for the lowest market growth of the technology segment in the genomics market
On the basis of technology, the genomics market is segmented into sequencing, PCR, microarrays, flow cytometry, and other technologies. In 2022, microarray technology accounted for the lowest market growth. Microarray technology has applications in gene discovery, disease diagnosis, drug discovery, cancer research, and toxicological research. However, the increasing adoption of sequencing technologies will limit the growth of this market to a certain extent.
Europe is the second largest region in the genomics market
The genomics market is segmented into North America, Europe, Asia Pacific, Latin America (LATAM) and Middle East and Africa (MEA). After North America, In Europe, extensive developments in genomics, the launch of NGS-based diagnostic tests, and collaborations among industry players and research institutes for the use of genomics products are projected to drive market growth in the region.
The primary interviews conducted for this report can be categorized as follows:
• By Respondent: Supply Side- 80% and Demand Side 20%
• By Designation: Managers- 45%, CXOs and Director level - 30%, and Executives - 25%
• By Region: North America -30%, Europe -20%, Asia-Pacific -35%, Latin America -10%, and Middle East and Africa – 5%
Prominent Players of the genomics market are Illumina, Inc. (US), Thermo Fisher Scientific, Inc. (US), Danaher Corporation (US), QIAGEN N.V. (Germany), Agilent Technologies, Inc. (US), PerkinElmer Inc. (US), F. Hoffmann-La Roche Ltd. (Switzerland).
Research Coverage:
This report provides a detailed picture of the genomics market. It aims at estimating the size and future growth potential of the market across different segments such as the product, application, technology, study type, end user and region. The report also includes an in-depth competitive analysis of the key market players along with their company profiles recent developments and key market strategies.
Key Benefits of Buying the Report:
The report will help market leaders/new entrants by providing them with the closest approximations of the revenue numbers for the overall genomics market and its subsegments. It will also help stakeholders better understand the competitive landscape and gain more insights to better position their business and make suitable go-to-market strategies. This report will enable stakeholders to understand the market's pulse and provide them with information on the key market drivers, restraints, challenges, trends, and opportunities.
The report provides insights on the following pointers:
• Analysis of key drivers (Increasing government funding to support genomics projects, Rising incidence and prevalence of viral diseases and genetic disorders, Growing incidence of cancer and increasing applications of next-generation sequencing in cancer research, Robust investments in genomics startups, Growing applications of genomics), opportunities (use of genomics in specialized/personalized medicine), challenges (ethical issues, dearth of trained professionals, secure storage of large volume data), trends (Partnerships and collaborations for technological advancements in genomics, AI in genomics) influencing the growth of genomics market.
• Product & Service Development/Innovation: Detailed insights on newly launched product and services, and technological assessment of the genomics market.
• Market Development: Comprehensive information about lucrative markets – the report analyses the genomics market across varied regions.
• Market Diversification: Exhaustive information about new product and services, untapped geographies, recent developments, and investments in the genomics market.
• Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players like Illumina, Inc. (US), Thermo Fisher Scientific, Inc. (US), Danaher Corporation (US), QIAGEN N.V. (Germany), Agilent Technologies, Inc. (US), PerkinElmer Inc. (US), F. Hoffmann-La Roche Ltd. (Switzerland), among others in the genomics market. The report also helps stakeholders understand the pulse of genomics market and provides them information on key market drivers, restraints, challenges, and opportunities.
Table of Contents
1 INTRODUCTION 34
1.1 STUDY OBJECTIVES 34
1.2 MARKET DEFINITION 35
1.2.1 INCLUSIONS AND EXCLUSIONS 35
1.3 MARKET SCOPE 36
1.3.1 MARKETS COVERED 36
1.3.2 YEARS CONSIDERED 37
1.4 CURRENCY 37
1.5 LIMITATIONS 37
1.6 STAKEHOLDERS 38
1.7 SUMMARY OF CHANGES 38
2 RESEARCH METHODOLOGY 39
2.1 RESEARCH APPROACH 39
2.1.1 PRIMARY RESEARCH 40
2.2 MARKET ESTIMATION METHODOLOGY 41
2.2.1 INSIGHTS FROM PRIMARY EXPERTS 43
2.3 MARKET GROWTH RATE PROJECTIONS 44
2.4 DATA TRIANGULATION 47
2.5 RESEARCH ASSUMPTIONS 48
2.6 RISK ANALYSIS 48
2.7 RECESSION IMPACT 49
3 EXECUTIVE SUMMARY 51
4 PREMIUM INSIGHTS 55
4.1 GENOMICS MARKET OVERVIEW 55
4.2 NORTH AMERICA: GENOMICS MARKET, BY PRODUCT & SERVICE AND COUNTRY (2022) 56
4.3 GENOMICS MARKET SHARE, BY APPLICATION, 2023 VS. 2028 57
4.4 GENOMICS MARKET: GEOGRAPHIC GROWTH OPPORTUNITIES 57
5 MARKET OVERVIEW 58
5.1 INTRODUCTION 58
5.2 MARKET DYNAMICS 58
5.2.1 DRIVERS 60
- 5.2.1.1 Increasing government funding to support genomics projects 60
- 5.2.1.2 Rising incidence and prevalence of viral diseases and genetic disorders 60
- 5.2.1.3 Growing incidence of cancer and increasing applications of next-generation sequencing in cancer research 61
- 5.2.1.4 Robust investments in genomics startups 62
- 5.2.1.5 Growing applications of genomics 63
5.2.2 OPPORTUNITIES 63
- 5.2.2.1 Use of genomics in specialized/personalized medicine 63
5.2.3 CHALLENGES 64
- 5.2.3.1 Ethical issues 64
- 5.2.3.2 Dearth of trained professionals 64
- 5.2.3.3 Secure storage of large volumes of sequenced data 64
5.2.4 TRENDS 65
- 5.2.4.1 Partnerships and collaborations for technological advancements in genomics 65
- 5.2.4.2 AI in genomics 66
5.3 TECHNOLOGY ANALYSIS 67
5.4 VALUE CHAIN ANALYSIS 69
5.5 REGULATORY ANALYSIS 69
5.5.1 NORTH AMERICA 69
- 5.5.1.1 US 69
- 5.5.1.2 Canada 71
5.5.2 EUROPE 71
5.5.3 ASIA PACIFIC 72
- 5.5.3.1 China 72
- 5.5.3.2 Japan 72
- 5.5.3.3 India 73
5.5.4 LATIN AMERICA 73
5.5.5 MIDDLE EAST 73
5.6 ECOSYSTEM ANALYSIS OF GENOMICS MARKET 74
5.7 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS 74
5.8 PRICING ANALYSIS 75
5.8.1 AVERAGE SELLING PRICE OF NGS PRODUCTS 75
5.8.2 AVERAGE SELLING PRICE OF PCR PRODUCTS 75
5.8.3 AVERAGE SELLING PRICE TREND ANALYSIS 76
5.9 KEY CONFERENCES AND EVENTS IN 2023-2024 76
5.10 PORTER’S FIVE FORCES ANALYSIS 77
5.10.1 THREAT OF NEW ENTRANTS 78
5.10.2 THREAT OF SUBSTITUTES 78
5.10.3 BARGAINING POWER OF SUPPLIERS 78
5.10.4 BARGAINING POWER OF BUYERS 78
5.10.5 INTENSITY OF COMPETITIVE RIVALRY 78
5.11 PATENT ANALYSIS 79
5.12 KEY STAKEHOLDERS AND BUYING CRITERIA 82
6 GENOMICS MARKET, BY PRODUCT & SERVICE 84
6.1 INTRODUCTION 85
6.2 CONSUMABLES AND REAGENTS 85
6.2.1 GROWING APPLICATIONS OF GENOMICS IN VARIOUS FIELDS TO DRIVE ADOPTION 85
6.3 SERVICES 88
6.3.1 LACK OF IN-HOUSE EXPERTISE FOR INTERPRETATION OF GENOMICS DATA TO BOOST MARKET FOR OUTSOURCING SERVICES 88
6.4 INSTRUMENTS, SYSTEMS, AND SOFTWARE 91
6.4.1 TECHNOLOGICAL ADVANCEMENTS TO SUPPORT MARKET GROWTH 91
7 GENOMICS MARKET, BY TECHNOLOGY 95
7.1 INTRODUCTION 96
7.2 SEQUENCING 96
7.2.1 LAUNCH OF NEW NGS PLATFORMS AND LOWER COST OF SEQUENCING TO DRIVE MARKET 96
7.3 PCR 99
7.3.1 USE OF PCR TECHNOLOGIES FOR DRUG DISCOVERY TO PROPEL MARKET 99
7.4 FLOW CYTOMETRY 102
7.4.1 APPLICATION OF FLOW CYTOMETRY IN AGRIGENOMICS TO SUPPORT MARKET GROWTH 102
7.5 MICROARRAYS 104
7.5.1 HIGH ADOPTION OF NGS TO LIMIT GROWTH OF MICROARRAY TECHNOLOGIES 104
7.6 OTHER TECHNOLOGIES 106
8 GENOMICS MARKET, BY APPLICATION 109
8.1 INTRODUCTION 110
8.2 DRUG DISCOVERY AND DEVELOPMENT 110
8.2.1 LARGEST APPLICATION SEGMENT OF GENOMICS MARKET 110
8.3 DIAGNOSTICS 113
8.3.1 GROWING APPLICATIONS OF GENOMICS IN DIAGNOSTICS FIELD TO PROPEL MARKET 113
8.4 AGRICULTURE AND ANIMAL RESEARCH 117
8.4.1 GENOMICS HELPS IMPROVE PRODUCTIVITY OF CROPS AND LIVESTOCK 117
8.5 OTHER APPLICATIONS 119
9 GENOMICS MARKET, BY STUDY TYPE 122
9.1 INTRODUCTION 123
9.2 FUNCTIONAL GENOMICS 123
9.2.1 INCREASED GENOMIC STUDIES TO POSITIVELY INFLUENCE MARKET GROWTH 123
9.3 BIOMARKER DISCOVERY 126
9.3.1 RISE IN PERSONALIZED MEDICINE TO SUPPORT MARKET GROWTH 126
9.4 PATHWAY ANALYSIS 128
9.4.1 DEVELOPMENT OF NEXT-GENERATION THERAPIES TO DRIVE MARKET 128
9.5 EPIGENOMICS 131
9.5.1 INCREASE IN INVESTMENTS FOR EPIGENETICS RESEARCH TO SUPPORT MARKET GROWTH 131
9.6 OTHER STUDY TYPES 133
10 GENOMICS MARKET, BY END USER 136
10.1 INTRODUCTION 137
10.2 HOSPITALS AND CLINICS 137
10.2.1 INCREASED APPLICATION IN DISEASE DIAGNOSIS AND TREATMENT TO DRIVE MARKET 137
10.3 ACADEMIC AND RESEARCH INSTITUTES 140
10.3.1 INCREASE IN RESEARCH INTENSITY TO DRIVE USE OF GENOMICS PRODUCTS AMONG ACADEMIC AND RESEARCH INSTITUTES 140
10.4 PHARMACEUTICAL AND BIOTECHNOLOGY COMPANIES 143
10.4.1 GROWING IMPORTANCE OF BIOMARKERS FOR DRUG DISCOVERY TO DRIVE ADOPTION OF GENOMICS PRODUCTS AND SERVICES AMONG PHARMA AND BIOTECH COMPANIES 143
10.5 OTHER END USERS 145
11 GENOMICS MARKET, BY REGION 148
11.1 INTRODUCTION 149
11.2 NORTH AMERICA 149
11.2.1 US 153
- 11.2.1.1 US dominates North American genomics market 153
11.2.2 CANADA 157
- 11.2.2.1 Increasing research in genomics to drive market 157
11.2.3 NORTH AMERICA: RECESSION IMPACT 160
11.3 EUROPE 160
11.3.1 GERMANY 164
- 11.3.1.1 Increasing awareness of NGS to boost market growth 164
11.3.2 UK 166
- 11.3.2.1 Availability of government funding and strategic collaborations with biotech firms to boost market growth 166
11.3.3 FRANCE 170
- 11.3.3.1 Increasing government investments in genomics to drive market 170
11.3.4 ITALY 172
- 11.3.4.1 Favorable funding scenario to drive adoption of sequencing technologies 172
11.3.5 SPAIN 175
- 11.3.5.1 Focus on expanding genomic research to support market growth 175
11.3.6 REST OF EUROPE 178
11.3.7 EUROPE: RECESSION IMPACT 181
11.4 ASIA PACIFIC 181
11.4.1 CHINA 186
- 11.4.1.1 Fastest-growing market in Asia Pacific 186
11.4.2 JAPAN 188
- 11.4.2.1 Growing NGS market to support market growth 188
11.4.3 INDIA 191
- 11.4.3.1 Emergence of local players and increasing adoption of genomics technologies to aid market growth 191
11.4.4 AUSTRALIA 194
- 11.4.4.1 Increase in precision medicine and academic studies to propel market growth 194
11.4.5 SOUTH KOREA 196
- 11.4.5.1 Government initiatives to favor market growth 196
11.4.6 REST OF ASIA PACIFIC 199
11.4.7 ASIA PACIFIC: RECESSION IMPACT 201
11.5 LATIN AMERICA 202
11.5.1 EXPANSION OF KEY PLAYERS TO BOOST MARKET GROWTH 202
11.5.2 LATIN AMERICA: RECESSION IMPACT 204
11.6 MIDDLE EAST AND AFRICA 205
11.6.1 INCREASING ADOPTION OF GENETIC TESTING AND RISING HIV & CANCER INCIDENCE TO DRIVE MARKET 205
11.6.2 MIDDLE EAST AND AFRICA: RECESSION IMPACT 208
12 COMPETITIVE LANDSCAPE 209
12.1 INTRODUCTION 209
12.2 STRATEGIES ADOPTED BY KEY PLAYERS 210
12.3 REVENUE ANALYSIS 211
12.4 MARKET SHARE ANALYSIS 212
12.5 COMPANY EVALUATION MATRIX 214
12.5.1 STARS 214
12.5.2 EMERGING LEADERS 214
12.5.3 PERVASIVE PLAYERS 214
12.5.4 PARTICIPANTS 214
12.6 COMPETITIVE BENCHMARKING 216
12.6.1 OVERALL COMPANY FOOTPRINT (32 COMPANIES) 216
12.6.2 PRODUCT & SERVICE FOOTPRINT OF COMPANIES (32 COMPANIES) 217
12.6.3 REGIONAL FOOTPRINT OF COMPANIES (32 COMPANIES) 218
12.7 COMPANY EVALUATION MATRIX FOR STARTUPS/SMES 220
12.7.1 PROGRESSIVE COMPANIES 220
12.7.2 STARTING BLOCKS 220
12.7.3 RESPONSIVE COMPANIES 220
12.7.4 DYNAMIC COMPANIES 220
12.8 COMPETITIVE BENCHMARKING OF STARTUPS/SMES 222
12.9 COMPETITIVE SCENARIO AND TRENDS 223
12.9.1 PRODUCT/SERVICE LAUNCHES 223
12.9.2 DEALS 224
12.9.3 OTHER DEVELOPMENTS 225
13 COMPANY PROFILES 226
13.1 MAJOR PLAYERS 226
13.1.1 ILLUMINA, INC. 226
13.1.2 THERMO FISHER SCIENTIFIC INC. 242
13.1.3 F. HOFFMANN-LA ROCHE LTD. 258
13.1.4 DANAHER CORPORATION 267
13.1.5 QIAGEN N.V. 273
13.1.6 AGILENT TECHNOLOGIES, INC. 282
13.1.7 PERKINELMER INC. 294
13.1.8 BIO-RAD LABORATORIES, INC. 300
13.1.9 EUROFINS SCIENTIFIC 306
13.1.10 PACIFIC BIOSCIENCES 310
13.1.11 OXFORD NANOPORE TECHNOLOGIES PLC 317
13.1.12 TAKARA BIO INC. 325
13.1.13 BGI GROUP 333
13.1.14 EPPENDORF AG 342
13.1.15 MERCK KGAA 345
13.1.16 BECTON, DICKINSON AND COMPANY 350
13.1.17 ABBOTT LABORATORIES 356
13.1.18 23ANDME, INC. 361
13.1.19 10X GENOMICS 364
13.1.20 NEW ENGLAND BIOLABS 369
13.1.21 PROMEGA CORPORATION 374
13.1.22 CREATIVE BIOGENE 380
13.1.23 NOVOGENE CO., LTD. 384
13.1.24 ULTIMA GENOMICS, INC. 386
13.1.25 FREENOME HOLDINGS, INC. 387
13.2 OTHER PLAYERS 389
13.2.1 QUEST DIAGNOSTICS 389
13.2.2 MYRIAD GENETICS, INC. 390
13.2.3 PERSONALIS, INC. 391
13.2.4 HELIX OPCO, LLC 392
13.2.5 POLARIS GENOMICS 392
13.2.6 PHALANX BIOTECH GROUP 393
13.2.7 GENOMIQA PTY LTD 393
14 APPENDIX 394
14.1 DISCUSSION GUIDE 394
14.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 399
14.3 CUSTOMIZATION OPTIONS 401
14.4 RELATED REPORTS 402
14.5 AUTHOR DETAILS 403