Global Genomics Industry Overview
The global genomics market is expected to experience a rapid growth with maximum application of genomics originating from the genomics companies around the world. The global genomics market is predicted to reach a size of more than USD 25 billion by 2022. This growth is mainly due to the rising number of research studies assessing genetic anomalies to discover new therapies for diseases such as cancer. The genomics market is vastly driven by the increasing demand for genetically modified crops. The market consists of highly concentrated players who are focused on developing different types of genomics which includes structural genomics and functional genomics. The vendors and the genome industry to get further push with the national initiative spurring molecular research activities globally. Moreover, the genomics impact factor to increase with the rising popularity of personalized medicine. It is gaining popularity in the development of personalized medicines for the detection of diseases and selection of the precise treatment methods that can reduce mortality rate.
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Why Genomics is Important?
Genomics helps identify genetic diseases, develop the best method of treatment, and actively contribute to the development of personalized medicine. Personalized medicine is a method which not only improves the capacity to diagnose and treat the disease but also offers the potential to distinguish at an earlier stage when it is comparatively easier to treat.
Genomic technology allows researchers to examine critical biological complications such as the genomic variations and nature of inherited syndromes that can cause several diseases such as cardiovascular diseases and cancers. Therefore, identifying and assessing the genetic composition of an individual is very important in order to determine the health and vulnerability of severe diseases.
Top 10 Genomics Companies in the World 2019
1. Agilent Technologies
Agilent Technologies, established in 1999 is one of the world’s leading genomics companies that deals with the provision of analytical instruments, software services, and consumables for the entire laboratory workflow. Agilent Technologies headquartered in Santa Clara, focuses its expertise on six key markets, namely food, environmental and forensics, diagnostic, pharmaceutical, research, and chemical and energy. The company was recognized as Aon best employer in Malaysia in 2018 and successfully displayed the revenue growth of USD 1.29 billion in October, 2018. The mission of Agilent Technologies is to improve the human condition through sustainability.
2. Bio-Rad Laboratories
Bio-Rad Laboratories, originated in 1952 in Berkeley, California, develops, manufactures, and markets a wide range of products for the life science research and clinical diagnostics markets. Bio-Rad provides the healthcare industry with innovative genomics application and useful products that help life science researchers accelerate the discovery process and medical diagnostic labs obtain faster and better results. Bio-Rad is one of the leading genomics companies with an array of customers which include university and research institutions, hospitals, public health and commercial laboratories, as well as the biotechnology, pharmaceutical, and food safety industries.
Danaher Corporation is a renowned genomic company headquartered in Washington D.C, USA. Danaher deals with the provision of products in the fields of design, manufacturing, and marketing of industrial, healthcare and consumer products. It operates mainly in four segments, that is, diagnostics, environmental & applied solutions, dental, and life sciences. The company has been listed in the top 200 companies in the Fortune 500 list. Danaher is a trendsetter in global science and technology dedicated to helping customers through latest genomic applications to solve complex challenges, evolving life-saving scientific research and protecting our global food and water supplies.
4. F. Hoffmann-La Roche
Hoffmann-La Roche is the world’s largest biotech company that deals majorly in pharmaceuticals and diagnostics. F. Hoffmann-La Roche is a Switzerland based healthcare genomic company that provides in-vitro diagnostics and drugs for cancer and transplantation. It specializes in medicines for genetics, virology, metabolism, inflammation, oncology, infectious diseases, blood screening, CNS, immunology, clinical chemistry, urinalysis, and microbiology. Roche endures to search for improved applications of genomics to diagnose, prevent and treat diseases and make a sustainable contribution to the society.
5. General Electric
General Electric ranked among the Fortune 500 list as the 18th largest firm in the US, in 2018. General Electric which was established in 1892, is an America based genomics company headquartered in Boston. The company operates in an array of segments such as healthcare, renewable energy, power, aviation, transportation, additive manufacturing, digital, lighting, venture capital and finance, and oil and gas. In the healthcare segment, the company manufactures and distributes diagnostic imaging agents and radiopharmaceuticals for imaging modalities that are used in medical imaging procedures.
Illumina is majorly concerned with the sequencing and providing array-based solutions for analysis of genetic variation and function, in fields ranging from cancer research to agriculture. Illumina deals with research in cancer, microbiology, oncology, Agri genomics, complex diseases, genetic health, and reproductive health. The researchers in Illumina are performing tests to identify variants associated with lupus and other autoimmune diseases.
QIAGEN provides solutions and applications from cancer research to food safety testing. QIAGEN deals in an array of products such as next-gen sequencing, molecular diagnostics, life science research, bioinformatics, human ID and forensics, animal and vet. testing, food safety testing, genomic services, and provides service solutions and custom solutions. Based out of Germany, QUIAGEN is one of the world’s leading genomics companies.
8. Thermo Fisher Scientific
Thermo Fisher Scientific was founded in 2006, by merger of Thermo Electron and Fischer Scientific. Based in America Thermo Fisher Scientific is a biotechnology product development genomic company that deals with products such as analytical instruments, equipment, reagents, and consumables, software and services for research, manufacturing, analysis, and pharmaceutical products. The company offers innovative technologies, latest genomic applications, purchasing convenience, and comprehensive services through their premier brands – Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific and Unity Lab Services.
BGI is one of the major Chinese conglomerates aiming to elevate genome sequencing and bioinformatics to a whole new level. BGI deals with molecular genetics, sequencing services, and pharma solutions and provides researchers and healthcare professionals with quality genomic data. Beyond offering human, plant, and animal DNA sequencing services to empower genomics research, BGI developed its own sequencing platforms.
10. PacBio (Pacific Biosciences of California)
PacBio, that develops and manufactures systems for gene sequencing, is a biotechnology genomics company founded in 2004. PacBio headquartered in Menlo Park, CA, United states, provides the most comprehensive view of genomes, epigenomes, and transcriptomes. The company was recently in news for its SMRT Sequencing that provides unprecedented insights into genome of disease-causing mosquito.
Top Genomic Companies: Future Growth and Market Trends
Since vaccines are produced with the help of microbial genomic studies that enable the analysis of the genome, transcriptome, and proteome of microorganisms, an increase in demand for vaccine pushes growth in the genomics market. Thus, the growth in the demand for vaccine for universal program and emergence of diseases such as influenza will result in increased analytical testing services for vaccine synthesis. This will drive the growth in the market as vaccination is the effective way of preventing the spread of seasonal influenza whose effect is unpredictable. With the growing importance of genomics in therapeutics and increasing demand for genetically modified crops the genomics industries is expected to grow at an impressive rate during the forecast period. Further, the technological advances in genome sequencing and rise in collaborations among genomics companies will propel market growth helping the top genomic companies earn some impressive revenue during the forecast period.
- Decreasing Cost per Genome Will Mean Big Things for Personalized Medicine
- Better Drug Discovery and Delivery through Genomics
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