Genomics Market to Register Stunning CAGR of 19.4% by 2028; Nebula Genomic Commences Novel Product Set to Sustain Growth

The global genomics market size was USD 23.11 billion in 2020. The market is projected to grow from USD 27.81 billion in 2021 to USD 94.65 billion in 2028 at a CAGR of 19.4% in the 2021-2028 period. As per our expert analysts, the augmented research expenditure and progressions in bioinformatics is likely to have an affirmative influence on the growth of the market in the upcoming years. This information is provided by Fortune Business Insights™ in its report titled “Genomics Market Size, Share & COVID-19 Impact Analysis, By Type (Products (Instruments & Software and Consumables) and Services), By Technology (Polymerase Chain Reaction (PCR), Next Generation Sequencing (NGS), Microarray, Sanger Sequencing, and Others), By Application (Diagnostics, Research, and Others), By End User (Research Institutes, Healthcare Facilities & Diagnostic Centers, Pharmaceutical & Biotechnological Companies, Contract Research Organization (CROs)), and Regional Forecast, 2021-2028 .”

COVID-19 Impact

Rising Government Initiatives to Study COVID-19 to Stimulate Market Growth

The COVID-19 pandemic has exclusively changed the healthcare industry as a whole, with the trembles of the pandemic being felt across individual healthcare sectors. Both, the government as well as private pharmaceutical as well as biotechnological corporations have furthered their research happenings and enlarged their investments to progress an active vaccine or novel treatment for COVID-19.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/industry-reports/genomics-market-100941

Illumina Aids Nationwide Program across Belgium to Evaluate Whole Genome Sequencing

Illumina, Inc. declared a contract with the Belgian Genetic Centers to assess whole-genome sequencing (WGS) for the analysis of patients with intellectual disabilities (ID) and/or developmental disorders (DD) in daily care. The study that is run by the Belgian Resolve Rare Diseases group (BeSolveRD), shall also evaluate the health economic impact of WGS versus present principles of care.

Illumina is assisting the study by offering sequencing reagents. Consequences from the examination shall notify compensation conclusions concerning the usage of WGS in routine clinical procedure.

Novel Products and Inventive Services to Sustain Adoption of Genomic Sequencing

The change towards personalized medicines and declining costs of sequencing owing to the presentation of NGS technology, have generated numerous novel products and services. The market is gradually becoming more competitive with new players entering the market, and hence the companies are introducing advanced products and services to consolidate their position.

Competitive Landscape

Procurements Commenced by Crucial Companies to Endorse Market Growth

The leading players in the market incessantly opt for proficient tactics to thrust their brand value as well as endorse the global market growth of the product with confronting least possible hurdles. One such proficient tactics is procuring competitive companies and additional safeguarding a profit for both the companies.

Industry Development

• February 2020: Nebula Genomic commenced a novel product that is stated to offer whole genome sequencing at USD 299 billion to its customers.

List of Key Players Covered in this Market Report

• Illumina, Inc. (U.S.)


• Thermo Fisher Scientific Inc. (U.S.)


• F. Hoffmann-La Roche Ltd. (Switzerland)


• Agilent Technologies, Inc. (U.S.)


• Oxford Nanopore Technologies (U.K.)


• Danaher (U.S.)


• QIAGEN (Germany)


• BGI (China)


• IntegraGen (France)


• General Electric Company (U.S.)

Further Findings

• North America held the maximum genomics market shares and stood at USD 10.15 billion in 2020. The rapid adoption of new sequencing technologies and shift towards personalized medicines are expected to render a leading position to North America.


• Based on type, the market is segmented into products and services. The products segment is further categorized into instruments & software and consumables. The product segment is estimated to dominate the market throughout the forecast period.

Table of Segmentation