Genomics Market: Demand Analysis and Growth Forecast
According to a recent business publication by IndustryARC titled “Genomics Market: By Product Types (Microarray chip, Sequencers, Others); By Services (Bioinformatics, Laboratory, Others); By Technique (PCR, Electrophoresis, others); By Application (Genotyping, SNP analysis, others); (By End-User (Anthropology, Diagnostics, Others); By Geography – Forecast (2019-2025),” there were opportunities worth $16.0 billion to 16.5 billion as of 2018, and the analyst estimates the demand to grow with a CAGR of 9.2% to 10.2% during the forecasted period of 2019 to 2025.
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Genomics Market: Market Trends
Since DNA sequencers are very expensive the companies are mainly focusing on developing a cost effective sequencing methods and equipment. These products improve the data quality and are very useful for various applications such as whole genome protein binding replacing the old equipment. When the circulating tumor cells in DNA die, they release fragments in the bloodstream. Many R&D companies and sectors are exploring a lot of information for the biomarkers for cancers, as these cells grow quickly and cause damage to neighboring cells. This is chiefly influencing the genomics market growth.
New technologies have boosted genomics market drastically. Biologists are launching revolutionary genomes in the market, by developing sequencing technologies which has led to high quality plant and animal genomes. The biotechnology industry has grown in the recent years and has generated good revenue. The genomic and biotech impacts the agriculture sector by improving the crop yielding quality and by developing crops that are stress tolerant. Biotechnology companies that are investing in the Asian countries are PierianDx and ScienceVision.
Genomics Market: Competitive Landscape
Some of the key companies identified in the report that are currently holding majority genomics market shares are Cepheid, Inc., Affymetrix, Inc., Bio-Rad Laboratories, Inc. , Agilent Technologies, GE Healthcare, Illumina, Inc. ,, Danaher Corporation, and F. Hoffmann-La Roche.
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