The Asia Pacific Genomics Market would witness market growth of 17.6% CAGR during the forecast period (2021-2027).
One of the important drivers driving the market's growth is the growing use of non-invasive cancer screening-based research, as well as the growing need for tailored treatments. Moreover, the increasing prevalence of chronic disorders will increase the demand for gene-based treatments.
Clinical workflows are increasingly being combined with genomic data in order to develop targeted and personalized treatments, as well as to analyze the growth of newborn genetic screening programs and military genomics. Furthermore, an increase in demand for genetically modified plants and creatures in the agricultural sector is boosting market growth.
Another key growth-inducing aspect is technology improvements, such as the creation of genomics-based apps and testing. Other factors, such as substantial bioinformatics research and development (R&D) activities and rising demand for next-generation sequencing services, are expected to propel the market even further.
Due to increased demand for genetic sequencing and testing in China and developments in bioinformatics, Asia Pacific would witness new demand for genomics. Moreover, the market is being propelled forward by rising demand for the development of medications for rare diseases, as well as technology advancements such as the combination of next-generation sequencing and companion diagnostics in this space. Hence, these factors are anticipated to fuel the growth of the regional Genomics Market during the forecasting period.
The China market dominated the Asia Pacific Genomics Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $5,180.1 million by 2027. The Japan market is poised to grow a CAGR of 16.8% during (2021 - 2027). Additionally, The India market would witness a CAGR of 18.3% during (2021 - 2027).
Based on Product & Service, the market is segmented into Consumables, Systems & Software and Services. Based on Application, the market is segmented into Drug Discovery & Development, Diagnostics, Agriculture & Animal Research and Others. Based on End User, the market is segmented into Hospitals & Clinics, Research Centers and Academic & Government Institutes, Pharmaceutical & Biotechnology Companies and Others. Based on Technology, the market is segmented into Sequencing, PCR, Nucleic Acid Extraction & Purification, Microarray, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Genomics Market is Projected to reach USD 68.9 Billion by 2027, at a CAGR of 17.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Creative Biogene, Thermo Fisher Scientific, Inc., Illumina, Inc., Bio-Rad Laboratories, Inc., Danaher Corporation, Agilent Technologies, Inc., F. Hoffmann-La Roche Ltd., Eurofins Scientific Group, Qiagen N.V., and New England BioLabs, Inc.
By Product & Service
By Application
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