New analysis from MarketsandMarkets "Genomics Market by Products - [Instruments (NGS platform, Microarray, RT-PCR), Consumables (Genechips, Reagents for DNA Extraction & Purification, Sequencing)], Services (Sequencing & Microarray Services, and Software) - Global Forecast to 2018" finds that the Global Genomics Market earned revenues of $11.11 billion in 2013 and estimates this market to reach over $19.0 billion by 2018.
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.
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In 2013, North America was found to be the regional market that contributed the largest share of revenues to the global market, followed by Europe, APAC, and RoW. The market in the APAC region is expected to grow at the highest CAGR during the forecast period, due to increasing demand for diagnostics and academic research applications.
Notable players in the market include Roche Diagnostic (Switzerland), Life Technologies, Corp. (U.S.), QIAGEN (Netherlands), Illumina, Inc. (U.S.), and Bio-Rad Laboratories, Inc. (U.S.). Roche, Life Technologies, and QIAGEN were the top three market players that accounted for over 40% of the revenues earned by the global market in 2013.
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