"Genomics Market - Trends & Global Forecasts to 2020" now available at Fast Market Research

Genomics Market by Product (Instruments, Consumables), Technology (Sequencing, PCR, Microarray), Application (Diagnostics, Personalized Medicine), Process (Library Preparation, Sequencing & Imaging), End User - Trends & Global Forecasts to 2020

The genomics market is poised to reach USD 19.99 billion by 2020, growing at a CAGR of 9.9% during the forecast period of 2015 to 2020. The major factors driving the growth of the global genomics market include increasing investments, grants, and funds by the government; increasing research in the field of genomics; increasing number of start-up companies; and increasing application of genomic sequencing in the diagnostics. Despite the large number of benefits like detection of genetic variations in a diseased condition, high costs of genomic sequencing instruments/systems are restraining the genomics market.

The applications of genomics technologies have witnessed growth in recent years, which can be primarily attributed to the availability of advanced systems as well as the low cost of conducting sequencing. The technological advancement is evident from the number of improved versions of existing sequencers released in recent years. For instance, in January 2014, the leading player in the genomics market, Illumina, Inc. (U.S.), launched its NextSeq 500 System, which combines high-throughput performance with an affordable desktop form factor. This system is expected to enable researchers to perform sequencing in less than a day. In addition, the company also launched the NextSeq 500 System in January 2014, which combines high-throughput performance with an affordable desktop form factor. This system is expected to enable researchers to perform sequencing in less than a day.

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In 2015, the consumables segment is accounted for the major share of the global genomics market, by product, while the diagnostics segment is expected to account for the largest share of genomics market, by application. The academic institutes, research centers, government institutes accounted for major share of the genomics end users market in 2015. Additionally, the PCR accounted for the largest share of the genomics market, by technology, in 2015

In 2015, North America is expected to account for the largest share of the global genomics market, followed by Europe, Asia-Pacific, and the Rest of the World (RoW). North America's large share is attributed to the passage of Personalized Medicine Initiative in 2015. The new healthcare initiative will increase the adaptation of genomics in personalized medicine and provide better treatment to the patients.

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