Report : Genomics Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Technology (Sequencing, Microarray, PCR, Nucleic Acid Extraction and Purification, and Others), Product & Service (Instruments/Systems, Consumables, and Services), Application (Diagnostics, Drug Discovery and Development, Precision/Personalized Medicine, Agriculture & Animal Research, and Others), and End User (Research Centers, Hospitals and Clinics, Pharmaceutical & Biotechnology Companies, and Others) and Geography
Microarray Segment to Register Highest CAGR in Genomics Market During 2020–2027
According to our latest study on “Genomics Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Technology, Product & Service, Application, and End User,” the market was valued at US$ 19,084.74 million in 2019 and is projected to reach US$ 49,996.15 million by 2027; it is expected to grow at a CAGR of 13.1% from 2020 to 2027. The report highlights the key factors driving the market growth and prominent players with their developments in the market.
Based on technology, the genomics market is segmented into sequencing, microarray, PCR, nucleic acid extraction and purification, and others. The sequencing segment held the largest share of the market in 2019. The market growth for this segment is ascribed to its growing applications in medical, biotechnology, agriculture, diagnostics, and DNA Sequencing. Also, increasing government genome sequencing programs, declining sequencing cost, and genomics studies. However, the market for microarray segment is expected to grow at the fastest rate during the coming years.
The growth of the genomics market is attributed to the increasing prevalence of chronic diseases, declining cost of sequencing procedures, and growing funding for genomics. However, the lack of skilled professionals hinders the growth of this market. Illumina, Inc.; Danaher; F. HOFFMANN-LA ROCHE LTD.; BIO-RAD LABORATORIES INC.; General Electric Company; Thermo Fisher Scientific Inc.; Agilent Technologies, Inc.; Eurofins Scientific; QIAGEN; and BGI are among the leading companies operating in the global genomics market.
The report segments global genomics market as Follows:
By Product & Services
By End User