(PharmaNewsWire.Com, February 26, 2018 ) Latin America Genomics Market was worth USD 1.36 billion in 2017 and estimated to be growing at a CAGR of 9.1%, to reach USD 2.1 billion by 2022. Genomics is a discipline which analyzes the function and structure of genomes. It uses various sampling, sequencing, and data analysis and interpretation techniques to decode, assemble, and analyze genomes. The knowledge of complete set of DNA helps to identify certain genetic diseases, develop best course of treatment, and contribute to precision medicine.
The growth of the market can be contributed to increasing investments, grants, and funds by the government; increasing research in the field of genomics; increasing number of start-up companies; and increasing application of genomic sequencing in the diagnostics. However, the high cost of genomic sequencing instruments/systems is likely to restrain the growth of the market during the forecast period.
The report segments the market based on product, technology, process, application and end user. The various product segments of the genomics market include instruments/systems, consumables, and services. The consumables segment is expected to account for the largest share of the genomics market. This is attributed to factors such as repeated usage of consumables for the genomic experiments, increasing research programs by academic institutes and non-profit organizations. The market by technology is segmented into Sequencing, Microarray technology, PCR, Nucleic acid extraction and other technologies. Based on the various application areas of genomics, the report segments the market into diagnostics, drug discovery & development, personalized medicine, and agriculture & animal research, among others. The market by process is segmented into the library preparation, sequencing & imaging, and data analysis. Based on the end users the genomics market is segmented into research centres, academic institutes, & government institutes; hospitals & clinics; and pharmaceutical & biotechnology companies, among others. The research centres, academic institutes, and government institutes segment accounted for the largest share of the market, by end user. This largest share is attributed to the increasing research initiatives and projects in the area of genomics worldwide. On the basis of geography, the market is analysed under various regions namely Brazil, Argentina, Mexico and rest of Latin America.
Some of the key players in this market include Affymetrix, Inc., Agilent Technologies, BGI, Bio-Rad Laboratories Inc., GE Healthcare, Illumina Inc., Qiagen, Roche Diagnostics, Life Technologies, Cepheid.
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