NEW YORK, Aug. 11, 2021 /PRNewswire/ — As per Technavio’s Research Analysis, the genomics market is likely to register a CAGR of over 15% while registering an incremental growth of USD 21.10 bn during 2020-2024. Agilent Technologies Inc.(US), Becton, Dickinson and Co.(US), BGI Genomics Co. Ltd.(China), Bio-Rad Laboratories Inc.(US), and Danaher Corp.(US) will retain their dominant market positions in the genomics market landscape during the forecast period.
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The COVID-19 impact report on the genomics market offers pre as well as post-COVID-19 market estimates. Technavio analysts have curated the reports extensively through both qualitative and quantitative research methodologies to derive the most industry-relevant and business-relevant outcomes.
With the continuing spread of the novel coronavirus pandemic, organizations across the globe are gradually flattening their recessionary curve by leveraging technology. Many businesses will go through response, recovery, and renewal phases. Building business resilience and enabling agility will aid organizations to move forward in their journey out of the COVID-19 crisis towards the Next Normal.
The recovery process involves various phases including:-
- Addressing Potential Impacts by Facilitating changes in Process Designs
- Build Resilience by making effective resource and investment choices for individual business units, products, and service lines.
- Assessing Impact on Critical IT infrastructure and Software System
Genomics Market 2020-2024: Segmentation
Genomics market is segmented as below:
- North America
The genomics market is driven by rising investments in genomic research and development, reduction in the cost of genetic sequencing, and the increasing demand for creating and upgrading genome databases. In addition, other factors such as the growing adoption of single cell-based genomic analysis, advances in sequencing technologies, and growing developments in precision medicine and gene therapy are expected to trigger the genomics market toward witnessing a CAGR of over 15% during the forecast period.
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Key Considerations for Market Forecast:
- Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior
- Optimistic, probable, and pessimistic scenarios for all markets as the impact of pandemic unfolds
- Pre- as well as post-COVID-19 market estimates
- Quarterly impact analysis and updates on market estimates
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Top 3 Genomics Market Players:
Agilent Technologies Inc.
The company offers a wide range of workflow solutions for various applications within genomics. These solutions are available as reagents, buffers, ready-to-use kits, appliances, accessories, and software.
Becton, Dickinson and Co.
The company provides a wide range of technologies and products related to automated, high-throughput library generation for next-generation sequencing (NGS) and single-cell genomics.
BGI Genomics Co. Ltd.
The company offers a wide range of sequencing services which are broadly classified as DNA sequencing, RNA sequencing, and customized immune repertoire sequencing services. Most of these services are carried using DNBseq NGS technology platform, and commonly include applications such as RNA-Seq quantification), whole genome sequencing, etc.
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