GCC Genomics Services Market is expected to be Dominated by Sequencing Type Through 2028
Rising prevalence of chronic diseases is expected to drive
the growth of the market in the forecast period, 2024-2028
According to TechSci Research report, “GCC Genomics Services Market - By Region, Forecast and Opportunities, 2018-2028F”, the GCC Genomics Services Market is expected to grow with an impressive
CAGR during the forecast period 2024-2028. The rise in prevalence of chronic
diseases, increasing R&D activities related to genomics, rising government
initiatives, and growing awareness amongst the key market players including service
providers who are involved in new sequencing service launches, acquisitions,
expansions, and strategic collaborations, and recent developments etc., shows
the growth of GCC Genomics Services Market.
However, the government fundings
to promote genome-based diagnosis/treatments and medical advancement improves the treatment of serious diseases
like surgery, trauma and cancer which enhanced the growth of the market in the
forecast period.
GCC Genomic Services
Market is also restrained by some factors. Genomic services/testing involves
the collection of sensitive personal information, including an individual's
genetic makeup. There are concerns about the usage of personal information,
shared, and protected. The potential for genetic discrimination and
stigmatization could also discourage individuals from undergoing genomic
testing, limiting the growth of the market.
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TOC on "GCC Genomics Services Market".
The GCC Genomics Services Market can be segmented by technology,
application, end user and region.
Based on technology, the
market can be bifurcated into Sequencing, PCR, Nucleic Acid Extraction and
Purification, Microarray, and Others. The PCR segment held the maximum share,
in 2020. Moreover, the sequencing segment is expected to show an impressive
growth in forecast period due to increased number of government genomics
project and rising adoption of sequencing technologies due to decreasing cost as
they made genomic sequencing more accessible to
researchers and healthcare providers.
In terms of application, the
market can be split into Drug Discovery & Development, Diagnostics,
Agriculture & Animal Research, and Others. The diagnostics segment is
expected to show an impressive growth due to emergence of direct-to-customer
genetic testing and use of sequencing technology for clinical diagnostics.
Based on the end user, the
market can be classified into Hospitals & Clinics, Academic & Research
Institutions, Biotechnology & Pharmaceutical Companies, and Others. The hospitals
and clinics segment is expected to show an impressive growth in forecast period
due tor advanced healthcare facilities and growing expenditure in research and
development.
Major companies operating
in GCC Genomics Services Market include:
- Igenomix
Dubai
- Genetika
(MenaLabs Medical Laboratories)
- G42
Healthcare-Saphetor SA
- Dante
Genomics
- Anwa Medical
Labs
- Dammam
Valleya-Arcensus GmbH
- NoorDx
- Neo Science
Diagnostic LLC
- Al Ward
Medical Services Genetic Laboratory
- Eurofins
Scientific
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“GCC
Genomics Services market is expected to witness significant growth during the
forecast period, on account of rising prevalence of chronic diseases. An
increased rate of technological awareness for chronic diseases further supports
the demand for Genomics Services Market in GCC countries. Additionally, rising
government initiatives and fundings to promote genome-based
diagnosis/treatments and medical advancement, is further expected to create
lucrative opportunities for the market growth in the next few years”
said Mr. Karan Chechi, Research Director with TechSci Research, a research-based
global management consulting firm.
“GCC Genomics Services Market, By Technology
(Sequencing, PCR, Nucleic Acid Extraction and Purification, Microarray, Others),
By Application (Drug Discovery & Development, Diagnostics, Agriculture
& Animal Research, Others), By End User (Hospitals & Clinics, Academic
& Research Institutions, Biotechnology & Pharmaceutical Companies,
Others), By Region, Competition, Forecast & Opportunities, 2028F”, has evaluated the future growth
potential of GCC Genomics Services Market and provides statistics &
information on market size, structure, and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in GCC Genomics Services Market.
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