Global Genomic Medicine Market, By Application (Oncology, Cardiology, Paediatrics, Endocrinology, Respiratory Medicine, Rare Genetic Disorders, Infectious Diseases, Others), End- User (Hospitals, Clinics, Academic Institutions, Research Institutions)– Industry Trends and Forecast to 2029.
Genomic Medicine Market Analysis and Size
Pharmaceuticals that are particularly created using genetic data from DNA, protein profile, and their functionality while understanding how they interact with human health are known as genomic medicines, also referred to as personal medicine. These medications are able to reveal specifics about a person's usual biological facts, which may then be used to construct the appropriate patient's treatment regimen and pharmaceuticals.
Data Bridge Market Research analyses that the genomic medicine market which was USD 23.08 billion in 2021, would rocket up to USD 75.67 billion by 2029, and is expected to undergo a CAGR of 16.00% during the forecast period 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Genomic Medicine Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Application (Oncology, Cardiology, Paediatrics, Endocrinology, Respiratory Medicine, Rare Genetic Disorders, Infectious Diseases, Others), End- User (Hospitals, Clinics, Academic Institutions, Research Institutions)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Genome Medical, Inc. (U.S.), BioMed Central Ltd (U.K.), Aevi Genomic Medicine, Inc. (Israel), Congenica Ltd. (U.K.), Deep Genomics (Canada), Editas Medicine (U.S.), Illumina, Inc. (U.S.),Thermo Fisher Scientific (U.S.) QIAGEN N.V. (Netherlands), Agilent Technologies, Inc. (U.S.), Bio-Rad Laboratories, Inc. (U.S.), F. Hoffmann-La Roche Ltd. (Switzerland), and BGI (China)
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Market Opportunities
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Market Definition
The branch of science known as genomic medicine examines our DNA and how it interacts with our health using genomic data. They are able to gather information about a person's usual biological characteristics and use it to provide successful treatment.
Genomic Medicine Market Dynamics
Drivers
- Technological Advancements
Technology advancements and the potential for further research into the identification and monitoring of other biomarkers that may potentially be utilised for pharmacogenomics are other factors supporting the expansion of the global market for genomic medicine during the next five years.
- Rise in government spending on medicines
Growing government spending on precision medicine is anticipated to fuel industry expansion. The market for genomic medicine will grow faster from 2022 to 2029 due to other factors such as expanding genomic application areas, growing numbers of genomics projects, and rising demand for enhanced sequencing in cancer, pharmacogenomics, and rare condition detection.
- Rise in pharmaceuticals
The global market for genomic medicines will rise over the next five years due to rising research and advancements in the pharmaceutical business. The expansion of the worldwide market for genomic medicine in the ensuing five years will also be supported by growing government initiatives, individual investments, and an increase in the uses of genomic studies in the healthcare industry.
Opportunities
- Increase in the number of research and development activities
The market's growth is fuelled by an increasing scientific research on genomic medicine. This will provide beneficial opportunities for the market growth.
Restraints/Challenges
The lack of adoption of genomic medicine, the instability of the regulatory environment, and the lack of provider awareness will restrain market expansion.
This genomic medicine market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the genomic medicine market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Genomic Medicine Market
The COVID-19 pandemic has considerably impacted the global market for genomic medicine in 2020. The COVID-19 outbreak has impacted various factors, including aircraft cancellations, quarantines, travel prohibitions, restaurant closures, and restrictions on all indoor and outdoor events. More than fifty nations declared lockdown and a health emergency resulted in a sharp decline in business confidence, escalating public panic, and future uncertainty.
Global Genomic Medicine Market Scope
The genomic medicine market is segmented on the basis of application and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Application
- Oncology
- Cardiology
- Paediatrics
- Endocrinology
- Respiratory Medicine
- Rare Genetic Disorders
- Infectious Diseases
- Others
End- User
- Hospitals
- Clinics
- Academic Institutions
- Research Institutions
Genomic Medicine Market Regional Analysis/Insights
The genomic medicine market is analysed and market size insights and trends are provided by country, application and end-user as referenced above.
The countries covered in the genomic medicine market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the genomic medicine market due to increasing R&D in the genomic medicine and availability of various universities offering education programs on genomic medicine.
Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2022 to 2029 due to the rising health awareness among the people and growing demand of advanced medical technology.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Genomic Medicine Market Share Analysis
The genomic medicine market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to genomic medicine market.
Some of the major players operating in the genomic medicine market are:
- Genome Medical, Inc. (U.S.)
- BioMed Central Ltd (U.K.)
- Aevi Genomic Medicine, Inc. (Israel)
- Congenica Ltd. (U.K.)
- Deep Genomics (Canada)
- Editas Medicine (U.S.)
- Cleveland Clinic (U.S.)
- Illumina, Inc. (U.S.)
- Thermo Fisher Scientific (U.S.)
- QIAGEN N.V. (Netherlands)
- Agilent Technologies, Inc. (U.S.)
- Bio-Rad Laboratories, Inc. (U.S.)
- F. Hoffmann-La Roche Ltd. (Switzerland)
- BGI (China)
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