Boston, MA -- (ReleaseWire) -- 02/12/2014 -- This market study is segmented by product (Instruments, Consumables, and Services), by technology (Nucleic acid extraction & purification, PCR, DNA sequencing, and DNA microarray), by application (Diagnostics, Drug discovery, Academic research, Agriculture& Animal research, Personalized medicine, and others), and by geography (North America, Europe, APAC, and RoW).
The global genomics market was valued at an estimated $11.11 billion in 2013 and is expected to grow at a CAGR of over 12.0% from 2013 to 2018. The largest segment in the products market was the consumables segment, which accounted for over 60% of the total market revenues. This segment is expected to witness continued growth, owing to the increasing commercial adoption of genomic testing for various applications. The PCR segment constitutes the largest technology segment in the global market. Technological advances in d-PCR are expected to aid the growth of this segment.
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Increasing government funding and technological advancements are expected to positively influence the market growth, while the decline in average selling prices of instruments and services is expected to be tempered by the increase in genetic testing volumes.The expanding application of genomics research and testing, aided by declining cost of instruments and consumables presents several growth opportunities for market participants in the manufacturing and services industry. This report details the technology roadmap of innovations in this market in conjunction with strategies adopted by market players ofall Tiers. The mergers and acquisitions as well as alliances and agreements witnessed by the global market in the last ten years have been analyzed to identify acquisition motives and growth opportunities and strategies for market players of all Tiers.
The global genomics instrument and consumables segments were further categorized into nucleic acid extraction and purification systems, PCR, DNA microarrays, DNA sequencers, and NGS platforms. The Consumables segment of the global market held the maximum share among all other product segments.
The major drivers of the global market are extensive government funding in gene-related researches and increase in demand for clinical application such as personalized medicine. Technological innovations, and low cost and time associated with DNA-sequencing are also expected to influence the market growth during the forecast period; however, decreasing average selling prices of genomics instruments and services, and increased market consolidation are anticipated to challenge the market growth.
Companies Mentioned in this Report: Roche Diagnostic, Life Technologies, Corp., QIAGEN, Illumina, Inc., Bio-Rad Laboratories, Inc.
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