Global Genomics Market size to reach USD 68.9 Billion by 2027 - KBV Research

NEW YORK - March 22, 2022 - PRLog -- Genomics Market Growth, Trends and Report Highlights

According to a new report Global Genomics Market, published by KBV research, The Global Genomics Market size is expected to reach $68.9 billion by 2027, rising at a market growth of 17.5% CAGR during the forecast period.

The Systems & Software market shows high growth rate of 17.7% during (2021 - 2027). This is owing to the rising demand for next-generation sequencing services and lower sequencing costs, which are encouraging patients to choose genetic tests. PerkinElmer, for example, announced the debut of PerkinElmer Genetics' clinical genomics testing services in August 2021.

The Diagnostics market is expected to witness a CAGR of 17.7% during (2021 - 2027). This is attributed to the rise of direct-to-consumer genetic testing and the use of next-generation sequencing (NGS) technology for clinical diagnostics. Moreover, a surge in the number of nutrigenomics service providers who supply diet recommendations for illness conditions based on the patients' unique genes would further propel the growth of the segment during the forecasting period.

The Pharmaceutical & Biotechnology Companies market is showcasing the growth rate of 18.2% during (2021 - 2027). Genomic technologies are in high demand among pharmaceutical and biotechnology corporations due to the growing number of genetic research investigations.

PCR is the fastest growing segment with a CAGR of 17.4% during (2021 - 2027). This is because of the widespread use and availability of the technology. The adoption of these sequencing technologies for illness diagnosis and the growing number of genome projects in nations such as the United Kingdom, the United States, India, and others are likely to drive growth in the microarray and Sanger sequencing categories.

Full Report: https://www.kbvresearch.com/genomics-market/

Global Genomics Market Segmentation

By Product & Service

• Consumables
• Systems & Software and
• Services

By Application

• Drug Discovery & Development
• Diagnostics
• Agriculture & Animal Research and
• Others

By End User

• Hospitals & Clinics
• Research Centers and Academic & Government Institutes
• Pharmaceutical & Biotechnology Companies and
• Others

By Technology

• Sequencing
• PCR
• Nucleic Acid Extraction & Purification
• Microarray, and
• Others

By Geography

North America

• US
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• UK
• France
• Russia
• Spain
• Italy
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• South Korea
• Singapore
• Malaysia
• Rest of Asia Pacific

LAMEA

• Brazil
• Argentina
• UAE
• Saudi Arabia
• South Africa
• Nigeria
• Rest of LAMEA

Companies Profiled

• Creative Biogene
• Thermo Fisher Scientific, Inc.
• Illumina, Inc.
• Bio-Rad Laboratories, Inc.
• Danaher Corporation
• Agilent Technologies, Inc.
• Hoffmann-La Roche Ltd.
• Eurofins Scientific Group
• Qiagen N.V.
• New England BioLabs, Inc.