Global $35.7 Bn Genomics Market Forecast to 2024 - Entry of New Players and Start-Ups in the Genomics Field are Driving the Growth of the Market

World News: . []

Dublin, May 15, 2019 (GLOBE NEWSWIRE) -- The report has been added to offering.

The global genomics market is projected to reach USD 35.7 billion by 2024 from USD 18.9 billion in 2019, at a CAGR of 13.5%.

Genomics is a discipline in genetics that applies recombinant DNA, sequencing methods, and bioinformatics to sequence, assemble and analyze the function and structure of genomes. The ability to sequence DNA has opened an array of applications in research fields such as personalized medicine, cancer research, drug discovery, and agricultural and animal sciences. Recent sequencing technologies in the field of genomics have resulted in decreased cost and faster methods of DNA sequencing.Factors such as the rising government funding and growth in the number of genomics projects, decreasing sequencing costs, growing application areas of genomics, and the entry of new players and start-ups in the genomics field are driving the growth of the genomics market during the forecast period.North America accounted for the largest share of the genomics market in 2018. The large share of North America is attributed to the increasing research funding and government initiatives for promoting precision medicine and the use of GM crops in the US. The Asia Pacific market, on the other hand, is expected to register the highest CAGR of 14.8% during the forecast period. Increasing government focus on improving healthcare infrastructure, increasing awareness regarding the benefits of genomics, and growing research activity in gene therapy are some of the key factors driving market growth in the region.Thermo Fisher Scientific, Inc. (US), Illumina, Inc. (US), QIAGEN N.V. (Netherlands), and Agilent Technologies, Inc. (US) dominated the genomics market in 2018. Players mainly focused on product launches and inorganic strategies such as collaborations, acquisitions, and agreements in the market for optimal growth from 2015 to 2018.

Other players in the genomics market include Eurofins Scientific (Germany), BGI (China), GE Healthcare (US), Bio-Rad Laboratories, Inc. (US), F. Hoffmann-La Roche Ltd. (Switzerland), and Oxford Nanopore Technologies (UK).





For more information about this report visit

Research and Markets also offers services providing focused, comprehensive and tailored research.

Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related Topics: Genomics

More news and information about Research and Markets

Published By:

Globe Newswire: 15:35 GMT Wednesday 15th May 2019

Published: .

Search for other references to "global" on SPi News


Previous StoryNext Story

SPi News is published by Sector Publishing Intelligence Ltd.
© Sector Publishing Intelligence Ltd 2019. [Admin Only]
Sector Publishing Intelligence Ltd.
Agriculture House, Acland Road, DORCHESTER, Dorset DT1 1EF United Kingdom
Registered in England and Wales number 07519380.
Privacy Policy | Terms and Conditions | Contact Us