GenomicsMarket by Product Type (Consumables, Software, and Others), by Technology(PCR, Microarray, Next Gene Sequencing, Nucleic Acid Extraction andPurification, and Others), by Application (Diagnostics, Drug Discovery andDevelopment, Precision Medicine, Agriculture & Animal Research, andOthers), 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 humangenes and chromosomes. It focuses on structure, function, evolution, mapping,and editing of genomes. Genome is the genetic material of organism, whichincludes the Deoxyribonucleic acid (DNA). DNA consists the information neededto build the whole human body. Human genome consists of 23 pairs of chromosomesand 24000 genes. This study is divided into various types such as structuralgenomics, functional genomics, and comparative genomics.
Global Genomics Market Drivers
Increasing new product launchesis expected to drive the global genomics market growth. For instance, inJanuary 2019, Contextual Genomics launched two molecular hotspot assays (LiquidBiopsy Test and updated Solid Tumor Panel) for the detection of genomic mutationsin blood and solid tumors.
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Furthermore, in May 2015, RosettaGenomics Ltd. launched OncoGxOne. It is Next Generation Sequencing (NGS) testthat profiles tumors for targeted therapy selection and chemotherapeutictolerance.
Moreover, in September 2018,Zenome launched the first decentralized genomic internet software, which isexpected to increase possibilities of safe storage of large amount of geneticdata. The main advantage of decentralized genomic internet software is that thedegree of security is much higher.
Global Genomics Market Restraints
Lack of qualified and trainedprofessionals in genomics study is a major challenge for the global genomicsmarket growth. For instance, in January 2019, according to express healthcarereport, genomics study needs highly qualified and trained professionals tooptimize lab workflows and run it efficiently.
Global Genomics Market RegionalAnalysis
Europe is expected to gainsignificant share in the global genomics market over the forecast period, owingto increasing launches of new products by key players. For instance, in April2017, Illumina, Inc. announced launch of its new product VeriSeq NIPT Solution,it is a CE-IVD marked next-generation sequencing (NGS)-based approach tonon-invasive prenatal testing (NIPT).
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This approach includes the CE-IVDmarked library preparation and analysis software. This software enables fast,highly accurate, cost-effective, and non-invasive parenteral testing (NIPT).
Furthermore, Asia Pacific is alsoprojected to witness significant growth in the global genomics market duringthe forecast period, owing to increasing collaboration activities by keyplayers. For instance, in January 2018, 10X Genomics, Inc. collaborated withthe Berry Genomics Co. Ltd. Under this collaboration, 10x Genomics, Inc.focuses on development of approaches for next generation non-invasive prenataltesting (NIPT) and developing and offering new services for Berry Genomics Co.Ltd.
Key players operating in theglobal genomics market include Thermo Fisher Scientific, Inc., AgilentTechnologies, 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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