Genomics market is one of those upbeat markets that grows year-on-year with one of the highest growth rates. According to a market research company, Grand View Research, Inc., this market was valued at USD 20.1 billion in 2020 and is expected to grow at CAGR of 15.35% from 2021 to 2028. These numbers speak volumes about the potential this market holds. Some of the key players in this industry are Thermo Fisher Scientific, Inc., Agilent Technologies, Beijing Genomics Institute (BGI), Bio-Rad Laboratories, Danaher Corporation
Genomics – What & Why?
To understand genomics as a
subject, we need to go through some of the minor but important definitions that
form a substantial part of genomics.
·
DNA (Deoxyribonucleic Acid)
– It is a molecule formed by two polynucleotide chains in a double
helix formation, having all the genetic information for the development,
functioning, growth and reproduction of all known organisms and several
viruses.
·
Genome – Genome
is the name given to all the genetic material of an organism. By genetic
material, I mean – DNA, RNA (in RNA Viruses), also mitochondrial DNA, and
chloroplast DNA- all of it.
Now that we are up to speed, lets
jump right into the Genomics part.
What is Genomics –
Genomics is that part of biology which deals with all the operations on
genomes, such as finding out information about its structure, function and
evolution, along with mapping and editing it. So basically, it aims at the
collective characterization and quantification of all of an
organism’s genes, their interrelations and influence on the organism.
Related Blog@
Why Genomics
Matter?
Genomics Market Report Highlights
- In
the products segment, the consumables and reagents segment is expected to
register the fastest CAGR over the forecast period owing to the high volume
requirement for reagents and consumables for genomic analysis
- In
the services segment, NGS-based services dominated the market in 2020. The
use of NGS-based services for the analysis of the SARS-CoV-2 genome drives
the segment. The COVID-19 Genomics UK (COG-UK) Consortium delivers rapid
and large-scale whole-genome sequencing of SARS-CoV-2
- By
application and technology, functional genomics led the market in 2020 due
to the development of high-throughput technologies for the gene as well as
protein studies. The generation of a large amount of sequencing data has
led to significant developments in the segment
- Based
on end use, pharmaceutical and biotechnology companies dominated the
market in 2020. Pharmaceutical and biotechnology companies like Menlo Park;
Grail, Inc.; and Regeneron Pharmaceutical, Inc. have initiated large-scale
genomic sequencing projects in collaboration with both community health
systems and academic medical centers
- Asia
Pacific is expected to register the fastest growth rate from 2021 to 2028
owing to an increase in adoption and awareness about a number of genomics
technologies in emerging countries, such as China and India, for the
detection, treatment, and prognosis of various genetic disorders, such as
diabetes and cancer
Related Press
Release@ Genomics
Market Report
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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