Genomics Market Size, Share, Outlook, and Opportunity Analysis, 2019– 2027

SEATTLE - June 30, 2021 - PRLog -- Genomics Market by Product Type (Consumables, Software, and Others), by Technology (PCR, Microarray, Next Gene Sequencing, Nucleic Acid Extraction and Purification, and Others), by Application (Diagnostics, Drug Discovery and Development, Precision Medicine, Agriculture & Animal Research, and Others), by End Users (Academic and Research Institute, Pharmaceutical & Biotechnology Companies, Hospital and Clinics, and Others), and by Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa) - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2019 – 2026

Genomics is the study of human genes and chromosomes. It focuses on structure, function, evolution, mapping, and editing of genomes. Genome is the genetic material of organism, which includes the Deoxyribonucleic acid (DNA). DNA consists the information needed to build the whole human body. Human genome consists of 23 pairs of chromosomes and 24000 genes. This study is divided into various types such as structural genomics, functional genomics, and comparative genomics.

Global Genomics Market Drivers

Increasing new product launches is expected to drive the global genomics market growth. For instance, in January 2019, Contextual Genomics launched two molecular hotspot assays (Liquid Biopsy Test and updated Solid Tumor Panel) for the detection of genomic mutations in blood and solid tumors.

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Global Genomics Market Restraints

Lack of qualified and trained professionals in genomics study is a major challenge for the global genomics market growth. For instance, in January 2019, according to express healthcare report, genomics study needs highly qualified and trained professionals to optimize lab workflows and run it efficiently.

Global Genomics Market Regional Analysis

Europe is expected to gain significant share in the global genomics market over the forecast period, owing to increasing launches of new products by key players. For instance, in April 2017, Illumina, Inc. announced launch of its new product VeriSeq NIPT Solution, it is a CE-IVD marked next-generation sequencing (NGS)-based approach to non-invasive prenatal testing (NIPT).

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This approach includes the CE-IVD marked library preparation and analysis software. This software enables fast, highly accurate, cost-effective, and non-invasive parenteral testing (NIPT).

Key players operating in the global genomics market include Thermo Fisher Scientific, Inc., Agilent Technologies, Bio-Rad Laboratories, Inc., Illumina, Inc., Pacific Biosciences, Oxford Nanopore Technologies., 23andMe, Inc., Foundation Medicine, Inc. Hoffmann-La Roche Ltd., and Myriad Genetics, Inc.

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