Genomics Market to Reach $70.52 Billion by 2031, Driven by Rising Demand for Personalized Medicine

"Genomics Market to Reach $70.52 Billion by 2031, Driven by Rising Demand for Personalized Medicine J

Genomics Market 2024-2031 Meticulous Research , a premier global market research firm, has announced the release of its latest report titled, Genomics Market by Technology (Sequencing, Microarray, PCR, Nucleic Acid Extraction), Application (Drug Discovery, Diagnostics, Research), End User (Pharmaceutical, Hospital, Academic), Offering (Instruments, Consumables, Software) Global Forecast to 2031. Download Sample Report Here @ https://www.meticulousresearch.com/download-sample- report/cp_id=1262?utm_source=article&utm_medium=social&utm_campaign =product&utm_content=22-10-2024 The report indicates that the global genomics market is expected to attain a valuation of $70.52 billion by 2031, growing at a CAGR of 11.1% over the forecast period. This growth is attributed to a surge in the prevalence of genetic disorders, increased integration of genomic data into clinical applications, robust funding for genomics initiatives, and expanded utilization of genomics in healthcare. Additionally, rising pharmaceutical research and development expenditures, declining sequencing costs, and increased healthcare spending contribute to this market growth. Despite these opportunities, the market faces challenges, including a lack of standardized practices and concerns regarding the privacy and security of genomic data. Emerging Opportunities and Industry Challenges The increasing adoption of personalized medicine and advancements in gene therapy present significant growth opportunities for the genomics market. However, the industry grapples with a shortage of qualified professionals in bioinformatics and genomics and hurdles related to the commercialization and scalability of genomic technologies. Key Market Players Prominent players in the genomics landscape include: Agilent Technologies, Inc. (U.S.) Bio-Rad Laboratories, Inc. (U.S.) Danaher Corporation (U.S.) Thermo Fisher Scientific Inc. (U.S.) Page 1 of 4 Meticulous Research| sales@meticulousresearch.com

Genomics Market 2024-2031 Illumina, Inc. (U.S.) QIAGEN N.V. (Netherlands) Oxford Nanopore Technologies Plc. (U.K.) BGI Genomics Co., Ltd. (China) These companies are focused on innovation, with initiatives such as acquisitions and product launches driving growth in the sector. Notably, Bio-Rad Laboratories acquired Curiosity Diagnostics in August 2022, enhancing its capabilities in rapid PCR systems. Market Segmentation Insights 1.Offering: By 2024, the consumables segment is projected to hold the largest o market share, spurred by increased demand for next-generation sequencing and genetic research. 2.Technology: The sequencing segment is anticipated to record the highest growth rate o during the forecast period, bolstered by technological advancements and greater process efficiencies. 3.Application: The drug discovery and development segment is set for rapid growth o due to the rising incidence of chronic diseases and the pressing need for effective therapeutic solutions. 4.End Users: Pharmaceutical and biotechnology companies are expected to o dominate the market in 2024, leveraging genomics for targeted drug development and improved patient care. Regional Analysis Page 2 of 4 Meticulous Research| sales@meticulousresearch.com

Genomics Market 2024-2031 The report evaluates the market across key regions, including North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. North America is forecasted to capture the largest market share by 2024, driven by significant R&D investments and a strong presence of leading market players. Meanwhile, Asia-Pacific is emerging as a fast-growing region, supported by increased healthcare spending and growing awareness of genomic technologies. Looking Ahead As genomic research progresses, the industry is poised for transformation, enabling precision medicine and innovative diagnostics. Stakeholders must address existing challenges to fully leverage the potential of genomic technologies for improved healthcare outcomes. Quick Buy @ https://www.meticulousresearch.com/Checkout/61289368?utm_source=articl e&utm_medium=social&utm_campaign=product&utm_content=22-10-2024 About Meticulous Research Meticulous Research was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth. Contact Us: Meticulous Research Email- sales@meticulousresearch.com Contact Sales- +1-646-781-8004 Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research Page 3 of 4 Meticulous Research| sales@meticulousresearch.com

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