North America Genomics Market Size, Share & Industry Trends Analysis Report By Product & Service, By Application, By End User, By Technology, By Country, Historical Data and Growth Forecast, 2021 - 2027
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Get in-depth analysis of the COVID-19 impact on the North America Genomics Market
Market Report Description
The North America Genomics Market would witness market growth of 17.3% CAGR during the forecast period (2021-2027).
Genomics has been scientifically demonstrated to be effective in disease prevention, management, and therapy. Over the last few years, the healthcare environment has shifted from traditional treatment methods to precision medicine, and this movement has been accelerated by extraordinary clinical qualities. Whole-genome sequencing has emerged as a valuable tool for diagnosing life-threatening disorders like cancer.
The ongoing trends of the market are the expanding government support and increased number of genomics studies, reducing sequencing costs, and more genomics applications. The genomics industry is expected to increase at an exponential rate due to important genetic advances and their applications in a variety of fields, including intragenomic phenomena such as epistasis, heterosis, pleiotropy, and other correlations between alleles and locations inside the genome. Bioengineering and synthetic biology applications are expected to play a key role in boosting the growth of the genomics market.
North America is witnessing a massive adoption of new sequencing technology and a shift toward tailored medications. In addition, government assistance is critical. For example, the Biden Administration announced a USD 1.7 billion investment to Fight COVID-19 Variants in April 2021, with USD 1 billion going to expand genomic sequencing and USD 400 million going to support innovation initiatives like the launch of new innovative centers of excellence in genomic epidemiology.
The US market dominated the North America Genomics Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $19,989 million by 2027. The Canada market is expected to witness a CAGR of 20% during (2021 - 2027). Additionally, The Mexico market would experience a CAGR of 18.9% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Genomics Market is Estimated 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.
Scope of the Study
Market Segments Covered in the Report:
By Product & Service
- Systems & Software and
- Drug Discovery & Development
- Agriculture & Animal Research and
By End User
- Hospitals & Clinics
- Research Centers and Academic & Government Institutes
- Pharmaceutical & Biotechnology Companies and
- Nucleic Acid Extraction & Purification
- Microarray, and
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- Creative Biogene
- Thermo Fisher Scientific, Inc.
- Illumina, Inc.
- Bio-Rad Laboratories, Inc.
- Danaher Corporation
- Agilent Technologies, Inc.
- Hoffmann-La Roche Ltd.
- Eurofins Scientific Group
- Qiagen N.V.
- New England BioLabs, Inc.
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