Genomics is the scientific field which primarily deals with the evolution, mapping and structure of a genome. Genome analysis is undertaken with the purpose of assigning numerical values to genes which orchestrate the production of various proteins. Over the past few decades, genomics companies have tried map out the mutation of a cell’s DNA in an effort to understand how diseases like cancer arise. Recent advances in bioinformatics have led to revolutionary research advances to understand critical biological organs like the brain. Another important factor driving DNA sequencing as well as other human genetics projects is the quest for immortality. Medical professionals are confident that as technology and their understanding advances, they can not only prolong the life of a human being, but also gain success in the pursuit for immorality. Hence, the Genomics Market is well placed to register significant growth during the forecast period of 2016-2022.
Scope & Regional Forecast of the Genomics Market
The Genomics Market considers the primary growth drivers to be a few factors like: an increasingly competitive pharmaceutical industry; human genetics being widely utilized during the development of new medicine categories; rising demand for genome analysis as governments look to modify plants and animals for enhanced yields and superior adaptability respectively; and a decline in the prices of equipment produced by genomics companies.
The Genomics Market expects Asia-Pacific to drive market expansion during the next few years as growing economies like China and India increasingly depend on genome sequencing for improving crop yields as well as to solve healthcare problems. India is home to a vibrant pharmaceutical industry which is constantly on the lookout for medical innovations which bring down the cost of drugs, treatments or procedures. The Genomics Market revenue is all set to exceed the $7 Billion mark by 2022 at a CAGR of 7.5%.
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Segmentations & Key Players Involved in the Genomics Market
The Genomics Market can be broken down into various segmentations on the basis of –
Product Type: Products (DNA Microarrays, Electrophoresis, X-Ray Crystallography, Polymerase Chain Reaction (Pcr), DNA Sequencers, Chromatography) and Reagents Used.
Service Industry: Bio-Informatics Database, Bio-Informatics Tools and Laboratory Services.
End User Application: Anthropology, Agriculture, Cytogenetics, Diagnostics, Drug Discovery, Toxicogenomics and Others.
Geographical Location: Americas, Europe, Asia-Pacific and Rest of the World.
Some of the key players involved in the Genomics Market are as follows:
Bayer Healthcare Llc
F. Hoffmann-La Roche Ltd
Agilent Technologies Inc.
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