Genomics Market size to grow by USD 18.24 billion from 2022 to 2027, North America is estimated to account for 37% of the growth- Technavio

20 Oct 2023
www.prnewswire.com
NEW YORK, Oct. 19, 2023 /PRNewswire/ -- The
genomics market size is expected to grow by
USD 18.24 billion from 2022 to 2027. In addition, the momentum of the market will progress at a
CAGR of 10.53%  during the forecast period, according to Technavio Research. The market has been segmented by solution (products and services)
, application (diagnostic, drug discovery, and others) and geography (North America, Europe, Asia, and the Rest of the World (ROW)).
This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. Read FREE PDF Sample Report
Continue Reading
Genomics Market size to grow by USD 18.24 billion from 2022 to 2027, North America is estimated to account for 37% of the growth- Technavio
Preview
Source: PRNewswire
Technavio has announced its latest market research report titled Global Genomics Market 2023-2027
North America is estimated to account for
37% of the growth of the global market during the forecast period. One of the major contributors to the growth of the market in North America is the US. Factors such as the increase in research funding and the growing developments in precision medicine and personalized therapies are fuelling the growth of the market in the region. Hence, such factors drive the market growth in North America during the forecast period.
Company Profile:
10X Genomics Inc: The company offers genomics such as single-cell gene expression and single-cell immune profiling.
To gain access to more vendor profiles available with Technavio, buy the report!
Genomics Market: Segmentation Analysis
The market share growth by the
products segment is significant during the forecast period. This segment comprises instruments and consumables used in research and testing. Some of these instruments consist of  Polymerase chain reaction systems, Clustered Regularly Interspaced Short Palindromic Repeats -Cas systems, next-generation sequencers, and microarray instruments, which are routinely used in performing nucleic acid extraction, isolation, purification, gene cloning/amplification, high-throughput sequencing, and gene expression. Hence, such factors are expected to fuel the growth of this segment, which in turn will drive the market growth during the forecast period.
Learn about the contribution of each segment summarized in concise infographics and thorough descriptions. View a FREE PDF Sample Report
"Besides analyzing the current market scenario, our report examines historic data from 2017 to 2021"- Technavio
Genomics Market: Driver & Trend:
Reduction in the cost of genetic sequencing drives the market growth.  There is a significant reduction in the cost of sequencing due to the completion of the Human Genome Project (HGP) and advancements in genomics. In addition, there is a significant revolution in sequencing procedures due to the advent of technologies such as  NGS, DNA microarray, and CRISPR allowing targeted and high-throughput sequencing. As a result, it has led to the increased adoption of gene sequencing in commercial applications, including clinical and research settings, where rapid and cost-effective processing is needed. Hence, such factors are driving the market growth during the forecast period.
Rising investments in genomics research and development
Increasing demand for creating and upgrading genome databases
Trend
Advances in sequencing technologies are a primary trend in the genomics market.  Advances in genomics technologies, including high throughput sequencing, DNA microarray, and fluorescence in situ hybridization (FISH), have reduced the operational cost significantly by workflow simplification and providing a rapid and efficient process to perform genomics sequencing and analysis over conventional. Hence, such factors are driving the market growth during the forecast period.
Strategic alliances among market vendors are a key trend in the tyrosine kinase inhibitors market. Identify key trends, drivers, and challenges in the market. Download FREE sample to gain access to this information.
Related Reports:
The
automated microscopy market size is estimated to grow by USD 1,373.9 million at a CAGR of 9.11% between 2022 and 2027.
The
organ preservation market size is estimated to grow by USD 106.96 million at a CAGR of 6.91% between 2022 and 2027.
ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Solution
Market Segmentation by Application
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com
SOURCE Technavio
For more details,please visit the original website
The content of the article does not represent any opinions of Synapse and its affiliated companies. If there is any copyright infringement or error, please contact us, and we will deal with it within 24 hours.
Organizations
Indications
-
Targets
-
Drugs
-
Chat with Hiro
Get started for free today!
Accelerate Strategic R&D decision making with Synapse, PatSnap’s AI-powered Connected Innovation Intelligence Platform Built for Life Sciences Professionals.
Start your data trial now!
Synapse data is also accessible to external entities via APIs or data packages. Empower better decisions with the latest in pharmaceutical intelligence.