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Genomics Market by 2029

Genomics Market to register a CAGR of 19.5% during the forecast period of 2022-2029

Over the years, genomics has had a significant impact on health care. Medicine and biomedical sciences are undergoing a profound transformation, fueled by the genomics revolution. Genomics is the study of deciphering, interpreting, and applying DNA code to real-world problems. The most transformative technology of the twenty-first century is genomics. Therefore, owing to the rise in government funding to support genomics projects will further aid the market expansion over the forecasted period.

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Global genomics market was valued at USD 27.12 billion in 2021 and is expected to reach USD 112.80 billion by 2029, registering a CAGR of 19.5% during the forecast period of 2022-2029. The “PCR” accounts for the largest technology segment in the genomics market within the forecasted period owing to the lower cost of DNA amplification using PCR, the surge in research in the field of genomics, and other technological advancements. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

The surge in incidence of cancer and increasing applications of next-generation sequencing in cancer research is the most significant factor driving the growth for this market. In addition to this, the rise in the government funding to support genomics projects coupled with the massive changes in technology that allowed researchers to interrogate larger pieces of the human genome across the globe is expected to fuel market growth. Moreover, the usage of multiomic-based approaches and genome-wide association studies (GWAS) for discovering biological networks and common variants underlying host-pathogen interactions, and utilization of genomics for even deciphering COVID-19 complications, resistance, and susceptibility also cushion the market’s growth within the forecasted period.

This genomics market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the genomics market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

North America dominates the genomics market because of the U.S.’s genomics research grants and funds and support from key industrial players and increasing incidences of cancer within the region. Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 due to the increased focus of the increasing genetic research and development activities and government on encouraging research in the field of genomics and drastically reduced mass scale genetic testing costs within the region.

Some of the major players operating in the genomics market are Illumina, Inc. (U.S.), Thermo Fisher Scientific (U.S.), QIAGEN (Netherlands), Agilent Technologies, Inc. (U.S.), McKesson Corporation (U.S), R1 RCM Inc., (U.S), HCL Technologies Limited (India), Atos S.E., (France), Allscripts Healthcare, LLC, (U.S), Accenture, (Ireland), Cognizant, (U.S), Siemens, (Germany), F. Hoffmann-La Roche Ltd. (Switzerland), Bio-Rad Laboratories, Inc. (U.S.), and BGI (China) among others.

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