Our Industry Profile on the Genetic Analysis Market covers several industry aspects, including key players, the growing DTC market, and recent news shaping its continued development. Sources include, but are not limited to: Global Industry Analysts, PricewaterhouseCoopers, and Frost & Sullivan.
Given the many promises put forth by genomics research in the last decade, it’s no wonder why so much excitement surrounds this industry. All of the possible scientific applications are too plentiful to ignore: biotechnology, agriculture, nanotechnology, and medicine, to name a few. Based solely on this potential, many experts within the industry are predicting that the genomic market’s growth will be comparable to the rise in the medical imaging market. According to their estimates, within a matter of years, it is very likely that the genetic analysis industry could soon top $US 100 billion.
Interest in genetic analysis has never been higher. Venture capital investments in genomics are up 23% since 2007, and at least 40 genomics companies have been acquired since 2007 as well. Research group, Scientia Advisors, estimate the current value of the global genomics products market at $US 5.9 billion with expectations that it will reach $US 9 billion by 2014. Currently most of the market growth has been carried by federal funding, but with companies making the strategic push into the direct-to-consumer (DTC) genetic testing market, it may only be a matter of time before the industry experiences another boom.
Key segments to watch include Next Generation Sequencing (NGS) and Third Generation Sequencing (TGS) technologies. Illumina is the current leader in NGS with a commanding 70% market share, while TGS technologies are only just beginning to hit the market from companies like Pacific Biosciences, Ion Torrent/Life Technologies, and Oxford Nanopore.
In addition to the above findings, our full report includes much more detailed information on the current state of the global genomic analysis industry, including major players, a breakdown of industry trends and related segments, and the future of genomics (i.e. how close are we to the $1000 genome?).
This report was produced via collected research from sources such as Global Industry Analysts, PricewaterhouseCoopers, Frost & Sullivan, Genetic Engineering and Biotechnology News, and other various online news resources.
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