NEW YORK, July 31, 2018 /PRNewswire/ -- Genomics Market Size, Share & Trend Analysis Report By Application, By Technology, By Deliverables (Instruments, Consumables, Services), By End Use, And Segment Forecasts, 2018 - 2025Read the full report: https://www.reportlinker.com/p05479696
The global genomics market is expected to reach USD 27.6 billion by 2025, according to a new report by Grand View Research, Inc. The past decades have witnessed significant changes in disease management processes due to simultaneous advancements in genomics and personalized medicine. There has been a gradual growth in the usage of genomic studies in clinical practices, which is reflected by the growing trend of targeted therapies.Results from genomic studies enable a better understanding of diseases and the underlying mechanisms for researchers, physicians, and consumers.This facilitates evidence-based decision-making, and hence, helps improve personalized treatment regime.In addition, technological advancements in data analysis tools have motivated healthcare community to create precision-based therapies from surplus, available DNA data.Advancements in genomics and associated technologies has significantly impacted crop genetics.Technological advancements in sequencing facilitates genomes & transcriptomes sequencing for several crops.Although a reference genome exists for several crops, resequencing and gene expression studies are required for in-depth study of key genes contributing to the desired trait. Implementation of this information in crop breeding helps in development of advanced crops.The companies are involved in strategic alliances with global as well as local entities to boost their revenue generation and enhance their share in the market.For instance, in March 2017, Foundation Medicine collaborated with Bristol-Myers Squibb Company, as a result of which Bristol-Myers Squibb could deploy Foundation Medicine's molecular information solutions and comprehensive genomic profiling for identification of predictive biomarkers, such as Microsatellite Instability (MSI) and Tumor Mutational Burden (TMB), to accelerate its immunotherapy clinical trials.Such initiatives are aimed at increasing the adoption of genomic information in cancer management.Further Key Findings From the Report Suggest:• High volume requirement and the high cost of specific reagents contribute to substantial revenue share. Companies are embracing the trend of offering varied reagents that simplify workflow process• NGS-based services held a major share in the genomics services segment due to its rapid adoption of whole genome sequencing and application of sequence databases for disease screening and prognosis• NGS-based services have witnessed a continuous growth since its introduction• The demand for these services would remain strong with the expansion of the customer base from being limited to academic and research centers to CROs, biotech and pharma players.• Biomarkers exhibit high clinical potential and efficiency across treatment of wide range of diseases• Use of predictive biomarkers for diagnosis and monitoring take cancer eradication a step further. Moreover, organizations and programs such as National Biomarker Development Alliance (NBDA) are actively participating in development of novel biomarkers for cancer diagnosis• Thus biomarkers are expected to exhibit the fastest growth in the coming years over the forecast period• The growing interest of pharmaceutical and biotechnology companies in genomics is expected to drive market growth in the coming years.• As patients are focusing on their health, Direct-To-Consumer (DTC) laboratory testing is increasingly being employed. DTC genetic tests enable consumers to access information about their genetics without necessarily including healthcare professionals in the process.• A few emerging and established companies are competing in this space• Asia Pacific is the most potential region and an emerging market for genomics. This market is anticipated to grow at the highest CAGR of 12.7%.• Developing infrastructure in these countries has led to the increased demand for biomarkers for diagnostics purposes.• Major players include BGI; Agilent Technologies; Thermo Fisher Scientific, Inc.; Bio-Rad Laboratories, Inc; Foundation Medicine, Inc, 23andMe, Inc, Danaher, Illumina, Inc; Pacific Biosciences; Oxford Nanopore Technologies.; F. Hoffmann-La Roche Ltd., and Myriad Genetics, Inc.• Market participants are engaged in making the technology available to users at a lower price and in a compact formRead the full report: https://www.reportlinker.com/p05479696
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