Global genome sequencing market is expected to rise to an estimated value of USD 47.97 billion by 2026 registering a substantial CAGR of 13.95% in the forecast period of 2019-2026. This rise in the market can be attributed to the rising government spending, rise in the applications of genomics and the declining sequencing costs.
By using Genome Sequencing market research report, organizations can gain vital information about the competitors, economic shifts, demographics, current market trends, and spending traits of the customers. This comprehensive marketing report provides real world market research solutions for every industry sector, along with meticulous data collection from non-public sources to better equip businesses with the information they need most. The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Global Genome Sequencing market report also covers five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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Increased funding and initiative by the government to promote genome sequencing and its varied applicability in numerous projects accelerates the growth of this market
Reduction in the costs of genome sequencing further boosts the growth of this marke
Growing applicability of genomes in various areas including diagnosis, animal research, agriculture, drug discovery, food and beverages etc.
With changing environment of operations and advancements in technology, several new opportunities have been created thereby leading to the entry of new players and start-ups that would foster the growth of this market
Expensive and high cost of genome equipments
Lack of skilled professionals
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Key Developments in the Market:
In November 2018, Illumina Inc., the genome sequencing giants acquires Pacific Biosciences, a developer and manufacturer of gene sequencing. With this acquisition it would combine its own short genome/DNA sequencing with the long-read sequencing technology of Pacific Biosciences in order to maintain its dominant position in the genomes market, and continue to remain the market leader. With this, it would be able to enter into a new market especially in the areas of rare and undiagnosed diseases, thereby expanding its customer base and providing innovative solutions and services to its clients.
In June 2017, GATC Biotech AG, a leading company in genome sequencing was acquired by Eurofins, the global pioneering leader in bio-analytical testing including DNA, genome testing. With this acquisition Eurofins would expand its product portfolio and better serve its present and future clients by strengthening its genomics and genomic sequencing testing by acquiring the market leader in genomes.
By Product and Services
- Systems & Software
- Nucleic Acid Extraction & Purification
- Other Technologies
- Drug Discovery & Development
- Precision Medicine
- Agriculture & Animal Research
- Other Applications
By End User
- Research Centers
- Academic & Government Institutes
- Hospitals & Clinics
- Pharmaceutical & Biotechnology Companies
- Other End Users
- North America
- South America
- Middle East and Africa
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Potentials held by the report
- Detailed overview of the market
- Key developments and product launches in the market
- Key parameters which are driving the market
- Strategies of key players and product offerings
- In-depth market segmentation
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