Genomics based diagnostics dominated the overall market in terms of revenue at 36.4% in 2013 majorly owing to the presence of a relatively larger number of R&D programs. Genomics based personalized medicine segment on the other hand is expected to grow at the fastest CAGR of over 12.0% from 2014 to 2020 due to increasing demand for population based therapeutic solutions and subsequent increase in R&D initiatives.
The report “Genomics Market Analysis By Product (Instruments, Consumables, Services), By Application (Diagnostics, Personalized Medicines, Drug Discovery & Development, Academic Research, Agricultural)
Further key findings from the study suggest:
• Consumables dominated the genomics market in terms of share at over 50% in 2013; mainly due to increasing rates of commercial adoption of genomic testing for various applications especially in the field of drug discovery and development.
• North America was the largest regional market in 2013, at over 35.0% owing to the presence of sophisticated healthcare infrastructure, high patient awareness levels, healthcare expenditure and relatively larger number of R&D exercises pertaining to drug discovery and development.
• Asia Pacific is expected to grow at the fastest CAGR of 12.7% from 2014 to 2020. Growing demand for cost effective clinical outsourcing and the presence of high unmet medical needs in emerging countries such as India and China are some of the factors attributing to the rapid market growth in this region.
• DNA sequencing is one of the most commonly used technologies in biological and medical research laboratories for various applications such as DNA-based phylogeny, DNA cloning, functional analysis of genes, genetic fingerprints identification, detection and diagnosis of hereditary and infectious diseases. On account of the growing demand for all these applications, this segment is expected to grow at the highest CAGR during the forecast period.
• Key industry participants of this market include Affymetrix, Inc., Agilent Technologies, BGI, Bio-Rad Laboratories Inc., GE Healthcare, Illumina Inc., Qiagen, Roche Diagnostics, Life Technologies and Cepheid.
For the purpose of this study, Grand View Research has segmented the genomics market on the basis of product, application, technology and region:
• Genomics Product Outlook
• Genomics Application Outlook
• Personalized Medicines
• Drug Discovery and Development
• Academic Research
• Genomics Technology Outlook
• DNA Sequencing
• DNA Microarray
• Nucleic Acid Extraction and Purification
• Genomics Regional Outlook
• North America
• Asia Pacific
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