28 April 2020: The genomics market has witnessed significant growth due to research activities carried out to supply genomic data pool for biologists, patients, and physicians to further investigate certain diseases. Genomics is a study of genomes and its interaction with a different types stimuli. The field has received extensive attention in terms of research and development over the years. It has also witnessed a significant rise in technologies that use research results to understand the role played by genomes in the growth and survival of all organisms.
Innovation in Analysis to Boost Pharmaceutical Industry
Based on application and technology the market can be classified into functional, epigenomics, pathway analysis, biomarker discovery, and others. Generation of large amount of data sequencing has led to the growth of the segment. Development of advanced technologies has promoted the expansion of gene studies, which has further propelled the segment growth. Integration of functional genomics with innovative solutions has led to new scope for the development of drugs with minimum side effects.
Within the molecular networks, individual targets are investigated to understand the functioning of biological processes at cellular level. Behavioral genetic tool kits can evaluate competing hypotheses regarding particular behavior. Pathway analysis for drug development and in life sciences help improve understanding of molecular biology and cellular biology. On the other hand, next-generation therapeutics is a preferred choice of the pharmaceutical companies for network analysis.
Pathway-based analysis has gained more attention after the emergence of genomics and personalized therapies. The information on disease network gained through pathway analysis is used to address the challenges faced in developing therapeutics. Pathway analysis includes gene annotation databases and gene ontology.
Market Insights
Advancements in personalized medicine and genomics has led to vast exploration and research in disease management boosting growth of the market. Implementation of genetic studies in consumer wellness programs and population screening and other several health programs in order to optimize preventive care for diseases will propel growth of the industry.
For instance, in March 2019, Oxford Nanopore launched Flongle starter packs which conducts an on-demand DNA or RNA sequencing tests. It has a potential to offer rapid insights at low cost. It provides analysis of any living thing and can be done by anybody at any place. It can be used in scientific laboratories, in farms, in industries and factories, outdoor environments, healthcare settings, or in classrooms.
Major companies of the genomics market include Agilent Technologies; Foundation Medicine, Inc., Thermo Fisher Scientific, Inc.; Danaher; 23andMe, Inc., Oxford Nanopore Technologies.; Illumina, Inc.; Bio-Rad Laboratories, Inc.; F. Hoffmann-La Roche Ltd.; BGI; Pacific Biosciences; and Myriad Genetics, Inc.
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