Increasing Investments are accelerating the growth of Genomics

The global genomics market is expected to reach US$ 32,995.3 Mn in 2025 from US$ 32,995.3 Mn in 2017. The market is estimated to grow with a CAGR of 10.8% from 2017-2025. The report highlights the trends prevalent in the global genomics market and the factors driving the market along with those that act as restraints to its growth. The global genomics market is experiencing significant rise in the present days and is anticipated to explore in the forecast period owing to the following factors. Growth in investments & funds, declining cost of sequencing procedures, increasing number of start-up companies and technological developments in genomics. However nonexistence of skilled professionals and high cost of equipment used in genomics are likely to slower down the growth of the market in the coming future.

The growth of the genomics market is back boned by the rising investments and funds for the development of the genomics as it is field of science which deals in the production of whole genomes of organisms, and includes elements from genetics. Genomics uses a mixture of recombinant DNA, DNA sequencing methods, and bioinformatics to sequence, assemble, and analyze the structure and function of genomes. For instance, in July 2018, Innovate UK, the UK’s innovation agency, funded approximately US$ 1.76 million (£1.3 million) project, Evonetix Ltd, (UK) that will be in partnership with Durham University. The funds will be utilized for the development of a new enzymatic approach to DNA synthesis. Similarly, in April 2018, DNA Script received approximately US$5.5 million in grant funds from the European Commission and Bpifrance (French investment bank). The technology platform, and other related resources are helping the company to accelerate the development of the genomes. The large-scale Genome Centers will present the All of Us genomics platform.

Furthermore, companies have also raised up their research and development funds for the enhancing the gene synthesis. Additionally, in 2016, Twist Bioscience raised its revenue with US$ 61 million for the scale-up and commercial operation of the silicon chip-based high throughput low-cost gene synthesis platform. Similarly, In March 2018, SynbiCITE (UK) received around US$ 17.6 million (£13M) grants and US$ 318.5 million (£234M) private investment. Notably, SynbiCITE is made for increasing synbio applications in the UK. Thus, a huge investments made by the government, companies is anticipated to increase the growth of the global genomics market over the forecast years.

The developments by the companies are developing technologies and services and are investing more for the research and developments. For instance, Thermo Fisher Scientific Inc. invested 3.7%, 4.1% and 4.2% of its total revenue on R&D activity in 2015, 2016 and 2017 respectively. Since the last three years, the company is focusing on research and development activities which is indicated by increasing R&D expenditure. Therefore, the company strives towards technological developments thereby offering new products in the market.