Genomics Market to Reach $70.52 Billion by 2031

"Genomics Market to Reach $70.52 Billion by 2031 J

Genomics Market 2024-2031 Meticulous Research , a globally recognized market intelligence and research firm, has unveiled its latest report titled, Genomics Market by Technology (Sequencing, Microarray, PCR, Nucleic Acid Extraction), Application (Drug Discovery, Diagnostics, Research), End User (Pharmaceutical, Hospitals, Academic), and Offering (Instrument, Consumable, Software) Global Forecast to 2031. According to this comprehensive analysis, the global genomics market is anticipated to reach a valuation of $70.52 billion by 2031, exhibiting a robust compound annual growth rate (CAGR) of 11.1% throughout the forecast period. 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=19-12-2024 This significant growth is attributed to several driving factors, including the rising prevalence of genetic disorders, increased integration of genomic data into clinical workflows, growing investments in genomics projects, and the expanding applications of genomics across healthcare sectors. Additionally, rapid advancements in sequencing technologies, coupled with declining costs and rising healthcare expenditures, are accelerating the adoption of genomics in pharmaceutical research and clinical diagnostics. Market Drivers and Restraints The genomics market is poised to benefit from key trends, including: The rising global burden of genetic diseases, creating a demand for advanced diagnostic tools and targeted treatments. Increased incorporation of genomic data in clinical settings, enabling precision medicine and improving patient outcomes. Growing funding and investments in genomics research and development initiatives. Expanding applications in personalized medicine, drug discovery, and gene therapies, unlocking new growth opportunities. However, the market faces notable challenges: Page 1 of 5 Meticulous Research| sales@meticulousresearch.com

Genomics Market 2024-2031 Lack of standardized protocols across genomics processes. Privacy and security concerns surrounding sensitive genomic data. Shortage of skilled personnel in bioinformatics and genomics. Commercialization challenges in scaling advanced genomic technologies. Opportunities and Challenges for Stakeholders The increasing adoption of personalized medicine and gene therapies presents promising growth opportunities in genomics. These innovations are revolutionizing healthcare by enabling more tailored treatments based on individual genetic profiles. However, scaling these technologies and addressing the skills gap in specialized expertise will require collaborative efforts from academia, industry players, and healthcare providers. Key Industry Players The competitive landscape of the genomics market features several global leaders, including: Agilent Technologies, Inc. (U.S.) Bio-Rad Laboratories, Inc. (U.S.) Danaher Corporation (U.S.) Thermo Fisher Scientific Inc. (U.S.) Illumina, Inc. (U.S.) QIAGEN N.V. (Netherlands) Pacific Biosciences of California, Inc. (U.S.) Oxford Nanopore Technologies Plc. (U.K.) Eppendorf SE (Germany) Myriad Genetics, Inc. (U.S.) Page 2 of 5 Meticulous Research| sales@meticulousresearch.com

Genomics Market 2024-2031 Revvity, Inc. (Formerly PerkinElmer, Inc.) (U.S.) BGI Genomics Co. Ltd (China) These companies are leading advancements in next-generation sequencing (NGS), polymerase chain reaction (PCR), microarrays, and nucleic acid extraction and purification technologies. Their competitive strategies include mergers, acquisitions, product launches, and partnerships to maintain leadership in the market. Market Segmentation and Key Growth Areas The genomics market is segmented by offerings, technology, application, and end user: By Offering: Systems, consumables, software, and services. The consumables segment is projected to dominate in 2024, driven by the increasing demand for NGS consumables and the expanding scope of genetic research. By Technology: Sequencing, microarray, PCR, nucleic acid extraction, and purification. Sequencing is forecasted to exhibit the highest CAGR due to continuous technological advancements and improved efficiency in sequencing processes. By Application: Drug discovery and development, diagnostics, life science research, and others. Drug discovery and development are anticipated to grow fastest, fueled by the rising prevalence of chronic diseases such as cancer and diabetes and the demand for innovative therapies. By End User: Pharmaceutical & biotechnology companies, hospitals & clinics, academic & research institutes, diagnostic laboratories, CROs, and others. Pharmaceutical and biotechnology companies are expected to command the largest market share, driven by the growing use of genomics in targeted drug development, biomarker discovery, and personalized medicine. Geographic Insights The research highlights regional analysis for North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America is anticipated to maintain its leadership position in 2024, attributed to significant investments in R&D, advanced healthcare infrastructure, the presence of leading market players, and high adoption rates of cutting-edge technologies. Page 3 of 5 Meticulous Research| sales@meticulousresearch.com

Genomics Market 2024-2031 Conclusion The genomics market is on the cusp of transformative growth, propelled by technological breakthroughs and increasing integration within healthcare systems. Industry leaders are leveraging innovations in sequencing and other genomic technologies to offer precise, efficient, and cost-effective solutions. While challenges such as data privacy and skills shortages remain, the continuous expansion of personalized medicine and rising investment in genomics research signal a promising future for this dynamic market. Quick Buy @ https://www.meticulousresearch.com/Checkout/61289368?utm_source=article&utm_me dium=social&utm_campaign=product&utm_content=19-12-2024 About Meticulous Research Founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 under the Companies Act, 1956, Meticulous Research has become a premier provider of premium market intelligence across North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The name Meticulous Research reflects the company s commitment to providing detailed, accurate, and insightful market data. Through robust primary and secondary research methodologies, the company delivers intelligent, value-driven syndicated market research reports, custom studies, and consulting solutions tailored to address the business challenges of sustainable growth. Contact Us: Meticulous Market Research Pvt. Ltd. 1267 Willis St, Ste 200 Redding, California, 96001, U.S. Email: sales@meticulousresearch.com USA: +1-646-781-8004 Europe: +44-203-868-8738 APAC: +91 744-7780008 Visit Our Website: https://www.meticulousresearch.com/ Follow Us for Updates: Page 4 of 5 Meticulous Research| sales@meticulousresearch.com

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