The United States, as highlighted in the Genomics industry analysis by Future Market Insights, witnessed global Genomics sales totaling US$ 24.3 Billion in 2021. Forecasts for the period 2022 to 2032 indicate a substantial 19.8% projected market growth, surpassing historical rates. Notably, Functional Genomics is set to spearhead revenue generation, expected to achieve an impressive 23% Compound Annual Growth Rate (CAGR) from 2022 to 2032.
The analysis report by Future Market Insights reveals that the worldwide revenue from Genomics Market reached US$ 24.3 Billion in 2021. Forecasts predict a remarkable 19.8% market growth from 2022 to 2032, surpassing historical trends. Among the various categories, Functional Genomics is projected to lead in revenue generation, with an anticipated 23% CAGR from 2022 to 2032.
Crucial information and forecast statistics covered in the Genomics market report will arm both existing and emerging market players with necessary insights to craft long-term strategies.
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Following government measures, particularly social distancing norms and stay-at-home orders, doctors are delaying or postponing elective surgeries unless critical to prevent the spread of the virus to individuals with comorbidities or chronic conditions. Additionally, movement restrictions and supply chain disruptions have created a logistical nightmare for market players, leading to severe product shortages in the global marketplace.
The FMI’s report includes an interesting chapter on the preliminary impact of COVID-19 on the Genomics market. This allows both leading and emerging market players to understand the market scenario during a crisis and aids them in making sound decisions to gain a distinct competitive edge.
What factors are leading to the growth of the Genomics industry?
Scientists have extensively studied the genetic susceptibility and severity factors of COVID-19 using genomic data from existing databases. Genome-wide association studies (GWAS) and multi-omic approaches have revealed diverse biological networks and social influences on the disease. Genomic information like polygenic risk scores, ABO blood groups, and HLA haplotypes help identify comorbidities, resistance, and susceptibility in COVID-19 patients. Initiatives like the COVID-19 Host Genetics Initiative promote data sharing for understanding infection severity and susceptibility. Firms like deCODE Genetics and the Greek government have conducted viral genome analysis and immunogenomic studies. Prenatal genetic screening is projected to expand, sequencing newborn genomes and integrating data into Electronic Health Records, as seen with companies like Counsyl and Natera.
Market Snapshot (2022 to 2032)
| Attribute | Details |
| Global Genomics Market (2022) | US$ 28.5 Billion |
| Global Genomics Market (2032) | US$ 170.5 Billion |
| Global Genomics Market CAGR (2022 to 2032) | 19.8% |
| U.S. Genomics Market CAGR (2022 to 2032) | 22% |
| Key Companies Profiled |
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Genomics Market: Competition Analysis
The FMI’s study presents a comprehensive analysis of global, regional, and country-level players active in the Genomics market. Competitive information detailed in the Genomics Industry report has been based on innovative product launches, distribution channels, local networks, industrial penetration, production methods, and revenue generation of each market player. Furthermore, growth strategies and mergers & acquisitions (M&A) activities associated with the players are enclosed in the Genomics Market report.
Market Segments Covered in Genomics Industry Analysis
By Application:
- Functional Genomics
- Real-time PCR
- Transfection
- SNP Analysis
- Mutational Analysis
- Microarray Analysis
- RNA Interference
- Pathway Analysis
- Microarray Analysis
- Bead-based Analysis
- Proteomics Tools
- Real-time PCR
- Mass Spectrometry
- Biomarker Discovery
- DNA Sequencing
- Microarray Analysis
- Real-time PCR
- Mass Spectrometry
- Other Biomarker Discoveries
- Epigenetics
- Bisulfite Sequencing
- Microarray Analysis
- Chromatin Immunoprecipitation
- Methylated DNA Immunoprecipitation
- Other Epigenetics
- Other Applications & Technologies
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By Deliverable:
- Products
- Services
By End-use:
- Pharmaceutical and Biotechnology Companies
- Hospitals and Clinics
- Academic and Government Institutes
- Clinical Research
- Other End Users
Important Questions Answered in the Genomics Market Report
- Which end-user remains the top revenue contributor in different regional markets?
- At what rate has the global Genomics market been expanding during the forecast period?
- How will the global Genomics market look like by the end of the forecast period?
- What innovative strategies do Genomics market players to stay ahead of the pack adopt?
- What are the restraints affecting the growth of the global Genomics market?
Key Offerings of the Report
- Growth Drivers and Opportunities: Comprehensive analysis of growth-driving factors and opportunities for market players in different regional markets
- Recent Trends and Forecasts: Detailed assessment of the latest trends, technological developments, and forecasts for a 5-year or 10-year period.
- Segmental Analysis: Extensive analysis of each segment and factors differentiating the role of these segments in market revenue forecasts and growth rate analysis
- Regional Market Forecast: Thorough analysis of each regional market to arm stakeholders with the necessary information to make critical decisions
- Competitive Landscape: All-inclusive insights on both leading and emerging players vying for a slice of the Genomics market
Have a Look at Related Reports of the Healthcare Domain:
Synthetic Genomics Market: The global synthetic genomics market is slated to be valued at US$ 30.3 billion at the end of 2023. During the assessment period ranging from 2023 to 2033
Metagenomics Market: The global metagenomics market is expected to advance at a CAGR of 6.9% during the forecast period. The valuation in 2023 is expected to be US$ 202.9 million. By 2033
Genomic Urine Testing Market: The genomic urine testing market size is projected to be worth US$ 117.7 million in 2023. The market is likely to surpass US$ 251.4 million by 2033
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments based on Source, Application, Sales Channel, and End Use over the next 10-years.
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The post Global Genomics Market Soars: Anticipated 19.8% CAGR Growth from 2022 to 2032, Propelled by Functional Genomics as Top Revenue Contributor | Future Market Insights appeared first on Future Market Insights.
