Global Genomics Market 2018-2022 | Popularity of Personalized Medicine to Boost Demand | Technavio
LONDON--(BUSINESS WIRE)--Aug 27, 2018-- analysts forecast the global genomics market to grow at a CAGR of close to 11% during the forecast period, according to their latest market research report.
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Technavio has published a new market research report on the global genomics market from 2018-2022. (Graphic: Business Wire)
The increasing popularity of personalized medicine is one of the major trends being witnessed in the . Personalized medicine is modifying medical treatment because it is based on the individual characteristics of each patient. Personalized medicine is a multi-faceted method to patient care, which improves the capacity to diagnose and treat diseases, as well as offers the potential to distinguish disease at an early stage when it is easier to treat effectively.
According to Technavio analysts, one of the key factors contributing to the growth of the global genomics market is the rise in vaccines production:
Global genomics market: Rise in vaccines production
Vaccines are beneficial for the prevention of infectious diseases such as diphtheria, hepatitis B, and measles. Vaccination is one of the most cost-effective and successful strategies for precaution against various diseases. It is the best way of preventing the spread of seasonal influenza, which is highly unpredictable.
According to a senior analyst at Technavio for research on life science research tools, “In the recent past, the global vaccine market witnessed growth, owing to the increasing awareness about the importance of immunization. For instance, the National Immunization Program organized by the World Health Organization aims at preventing disease, death, and disability by providing vaccination against diseases. Vaccines used in universal programs are highly effective in targeting, controlling, and eliminating illness. Thus, the rising awareness along with increasing investments by companies and a rise in an outbreak of diseases such as pandemic influenza has resulted in increased production of devices.”
Global genomics market: Segmentation analysis
The global genomics market research report provides market segmentation by product (products and services) and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the two major products, the products segment held the largest market share in 2017, contributing to over 55% of the market, owing to the growing need to produce new drugs against the increasing prevalence of chronic illnesses.
The Americas held the largest share of the market in 2017, accounting for around 41% share. It was followed by EMEA and APAC respectively. The growth in the region can be due to the increasing number of research studies assessing genetic anomalies to discover new therapies for disease such as cancer.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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SOURCE: Technavio Research
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PUB: 08/27/2018 11:18 AM/DISC: 08/27/2018 11:18 AM