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Genomics Market Share & Size | Industry Forecast, 2024-2032

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The global genomics market size was worth around USD 36.25 Billion in 2023 and is predicted to grow to around USD 79.83 Billion by 2032 with a compound annual growth rate (CAGR) of roughly 9.17% between 2024 and 2032.

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There are several significant factors that are propelling the genomics market’s substantial growth. To begin with, the field has undergone a significant transformation due to various advancements in genomic technologies, including CRISPR-Cas9 gene editing and next-generation sequencing (NGS). The implementation of these technologies has enabled the genetic information to be analyzed with greater efficiency, precision, and economy. The utilization of these technologies has significantly expanded the scope of genomic investigation and implementations in numerous sectors, such as agriculture, biotechnology, and medicine, among others. An additional element that has played a role in the growth of the market is the increasing prevalence of government programs and financial assistance for genetic research endeavors. Furthermore, the establishment of collaborations among industry participants, research organizations, and academic institutions has been facilitated by these factors.

Furthermore, the escalating incidence of chronic diseases and genetic disorders on a global scale has generated a heightened demand for individualized pharmaceuticals and diagnostic tools, thereby contributing to the market’s expansion.

Furthermore, the increasing awareness among consumers concerning the benefits of genetic testing in terms of disease prevention, personalized treatment, and diagnosis, has stimulated the implementation of genomic services, thereby propelling the market’s growth. The rapid expansion of the genomics industry can be ascribed to several elements, such as the convergence of technological advancements, regulatory frameworks that provide support, the growing prevalence of diseases, and heightened consumer consciousness.

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The Global Genomics Market is segmented based on product, application and region

Global Genomics Market: Product Segment Analysis

● Services
● Products

Global Genomics Market: Application Segment Analysis

● Epigenomics
● Functional
● Biomarker Discovery
● Pathway Analysis

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The global Genomics market profiles key players such as:

● Illumina. Inc.
● Thermo Fisher Scientific. Inc.
● Eurofins Scientific
● Agilent Technologies. Inc.
● GE Healthcare
● Bio-Rad Laboratories. Inc.
● Oxford Nanopore Technologies
● F. Hoffmann-La Roche Ltd.

A company market share analysis is included in the report to provide a more comprehensive picture of the major participants in the genomics industry. Furthermore, the report encompasses significant strategic advancements within the market, such as mergers and acquisitions, the introduction of new products, collaborations and joint ventures, agreements, partnerships, research and development, and regional expansion of major players operating in the genomics industry at both the international and regional levels.

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