The global genomics market was worth $851.96 million in 2019. It is expected to grow at a compound annual growth rate (CAGR) of 14.71% and reach $1,475.11 million by 2023. North America was the largest region in 2019.
Rising government funds for research on genomics drives the growth of the single-cell genomics market. The government funding focuses on efforts to resolve the complexity of the human genome, define the genomic basis of human health and disease, and ensure that genomics is used safely to enhance patient care and benefit society through government, public and private institutions.
For instance, in 2018, in the U.S, The All of Us Research Program, a part of the National Institutes of Health, gave funds of $28.6 million for establishing three genome centers in the USA. These centers will start generating genomic data from the biosamples contributed by the participants of the program.
The technology limitation in single-cell genomics hinders the growth of the single-cell genomics market. Due to cost and technical constraints, the use of genetic sequencing to better target and treat rare and chronic diseases was largely out of reach for most health care organizations. Therefore, limiting the market's growth.
Companies are investing in new product launches to increase their revenue and expand their consumer base and also for gaining a competitive edge over their rivals. For instance, in 2018, NanoString Technologies, Inc., a USA-based biotech company, specialized in developing cancer diagnostics tools launched a CAR-T characterization panel, a new gene expression panel for the molecular characterization of CAR-T cells in research, development, and manufacturing. The panel was developed in partnership with eight leading CAR-T therapy centers and helps in ease of workflow and aims to advance the field of CAR-T therapy.
In November 2019, Exact Sciences Corp., a USA-based molecular diagnostics company specialized in colon cancer screening, screening test research, and development, non-invasive cancer screening for early detection and prevention of colorectal cancer, acquired Genomic Health Inc. for $2.8 billion in cash. The acquisition is expected to help Exact Sciences Corp. to broaden its offering of cancer tests and expand its footprint in more than 90 countries. Genomic Health Inc. is a USA-based life science company that specializes in the development of genomic-based clinical diagnostic tests for cancer.
Major players in the market are 10X Genomics, Qiagen, Fluidigm Corporation, Johnson & Johnson, Zephyrus Biosciences, Illumina, Affymetrix, Angle, Denovo Sciences and Diagnologix LLC.
Key Topics Covered
1. Executive Summary
2. Genomics Market Characteristics
3. Genomics Market Size and Growth
3.1. Global Genomics Historic Market, 2015-2019, $ Billion
3.1.1. Drivers of the Market
3.1.2. Restraints on the Market
3.2. Global Genomics Forecast Market, 2019-2023F, 2025F, 2030F, $ Billion
3.2.1. Drivers of the Market
3.2.2. Restraints on the Market
4. Genomics Market Segmentation
4.1. Global Genomics Market, Segmentation By Product Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
- Instrument (Including Systems, Service Contract and Software)
- Reagents (Including Reagents and Consumables)
4.2. Global Genomics Market, Segmentation By Process, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
- Cell Isolation
- Sample Preparation
- Genomic Analysis
4.3. Global Genomics Market, Segmentation By End User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
- Academic Institutes
- Biopharmaceutical Companies
- Clinical Research Institutes
5. Genomics Market Regional and Country Analysis
5.1. Global Genomics Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5.2. Global Genomics Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
- 10X Genomics
- Agilent Technologies Inc.
- Angle PLC
- Beckman Coulter
- Becton Dickinson
- Carl Zeiss Microscopy
- Cell Microsystems
- Cellsee Diagnostics
- Denovo Sciences Inc.
- Diagnologix LLC
- DNA Electronics Ltd.
- Dolomite Bio
- Epic Sciences
- Fluidigm Corporation
- Fluxion Biosciences
- Illumina, Inc.
- Johnson & Johnson Private Limited
- Kellbenx Inc.
- Qiagen N.V.
- Resolution Bio Science Inc.
- Thermo Fisher Scientific Inc.
- Wafergen Bio-systems Inc.
- Yikon Genomics Co. Ltd.
- Zephyrus Biosciences Inc.
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