Increasing competition in the pharmaceutical industry to develop new drugs, increasing demand for genetically modified crops and animals, and dropping prices of genomic procedures are some of the major growth drivers for the genomics market. Synthetic biology uses the concepts of genomics as an enabling technology to study the gene sequences of organisms and plants and further research initiatives are taken to invent synthetic cells and DNAs with novel applications. Emergence of such nascent research will help the market grow in the future. The study of the genomes of organisms is referred to as genomics. The global genomics market will experience double digit CAGR from 2012 to 2018. On the basis of technology, the market is segmented into bioinformatics, DNA microarray and other technologies.
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Economic development and the abundant availability of funds helped the North American genomics market capture the largest market share in 2011. Europe held the second largest market share in 2011 owing to the aggressive government initiatives undertaken by the European Union to fund research studies in genomics. Economic development in emerging countries such as India and China makes Asia the fastest growing region of the market. Furthermore, the fact that the Beijing Genomics Institute is the largest genomic research institute in the world helps the Asian market sustain its growth rate.
Some of the major companies in this industry are Affymetrix Inc., Bayer AG, Genomatix Software Inc., Roche Diagnostics, QIAGEN, Inc., Myriad Genetics, Inc., GE Healthcare, Illumina, Inc., Agilent Technologies, Inc., and Navigenics, Inc..
This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World
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- Market growth drivers
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