Genomics Market Is Projected To Grow At A CAGR 10.3% CAGR from 2014 to 2020: Grand View Research, Inc.
The global genomics market is estimated to reach USD 22.1 billion by 2020, growing at an expected CAGR of 10.3% from 2014 to 2020. Genomics is a subunit of biology that is concerned with the study of genes and its functions and brings together the function and structure of genomes. Genomics is applied in several fields such as biotechnology, genomic medicine, anthropology, and various other social sciences. It consists of functional genomics, comparative genomics, pharmacogenomics, structural genomics, and epigenomics. The global genomics market has undergone an increase in its market potential due to technological developments. Adding to it, factors including growing prevalence of fetal disorders such as diabetes and cancer, an increase in partial or full compensation by the government of certain countries add to the market’s growth across the globe. In 2013, genomics-based diagnostics held the largest share of market revenue at over 35% on account of the occurren...