The Latin America, Middle East and Africa Genomics Market would witness market growth of 20.5% CAGR during the forecast period (2021-2027).
In healthcare, agriculture, biotechnology, DNA sequencing, and diagnostics, genomics is widely used. Genomic research is utilized to generate vaccines and medications in the healthcare industry. The use of genomics in the diagnosis of a variety of genetic illnesses is becoming increasingly common. It has a lot of potential in personalized medicine because it can provide medical management based on a person's genetic profile using clinical data and AI. Moreover, it is also used in bioengineering and synthetic biology.
Plant breeding and genetics are used in agriculture to cultivate crop productivity through genomic research. Plant breeders will be aided in identifying traits and manipulating those features to achieve a high yield by a better understanding of gene function and the accessibility of genomic maps, as well as a better understanding of genetic variations. All of these variables influencing the massive medical and agricultural sectors are expected to drive up the demand for genomics.
Several start-ups and service providers that provide direct-to-customer (DTC) sequencing, ancestry services, and other services are also emerging. In August 2021, for example, Arcensus rolled out its direct-to-consumer myLifeHeart service in Saudi Arabia, which is based on Whole Genome Sequencing (WGS). Moreover, rising research spending and bioinformatics developments will boost the market growth in the coming years.
The Brazil market dominated the LAMEA Genomics Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $1,217.7 million by 2027. The Argentina market is anticipated to grow a CAGR of 21.1% during (2021 - 2027). Additionally, The UAE market would exhibit a CAGR of 20.1% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Genomics Market is Predict to reach $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.
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