GCC Genomics Services
Market is expected to grow at an impressive rate during the forecast period,
2024-2028. The major factors include increasing
prevalence of chronic diseases and cancer, increase in R&D activities
related to genomics, rising government initiatives and fundings to promote
genome-based diagnosis/treatments and medical advancement. According to Global Cancer Observatory,
in 2020, around 27,885 new cancer cases were reported in Saudi
Arabia, among which 4,007 number of cases are reported for colorectum cancer in
2020. Additionally, lack
of awareness among public for early cancer diagnosis and treatment is further
expected to drive the growth of GCC Genomics Services Market.
Moreover, the decreasing cost of sequencing
technologies is another driving factor in the genomics services market. The
cost of sequencing a human genome has decreased significantly in recent years,
from over $1 billion in 2003 to less than $1,000 today. This has made genomic
sequencing more accessible to researchers and healthcare providers, increasing
the demand for GCC Genomics Services Market.
Genomics is a branch of science that
focuses on genes and their function, structure, evolution, and mapping of the complete
gene in organism’s genome . The genomic test is generally carried out to
understand disease susceptibility, drug response, and human biology. The study
of genomics involves the analysis of structure and function, sequencing of
DNA, sequencing for drug discovery, and
recombinant DNA.
Additionally, the growth of the genomics
market is attributive to the extensive research and development strategies
carried out by the biopharmaceutical companies for drug discovery and
advancements in technology, the growing importance of genomic data in drug
discovery and development, and the decreasing cost of sequencing technologies.
Furthermore, the market players are extensively working towards collaborations,
expansions, acquisitions, and huge capital investments in advance research regarding
genomics in order to understand rare diseases and to aid drug discovery.
Rising Prevalence of Chronic Diseases
The prevalence in number of chronic diseases like
cardiovascular diseases, surgeries, trauma, and injuries are either caused due
to accidental or non-accidental reasons, resulting in the growth of the market.
The main cause of increasing demand of genomics services is due to increased
demand of health issues for the treatment of various severe diseases like
cancer. According to the research articles, In Saudi Arabia, cancer is one
of the prevalent diseases. For instance, in 2016, cancer contributed to 19% of
deaths from non-communicable diseases in which breast, thyroid and colon were
the most prevalent types of cancer in 2020. Moreover, according to Global Cancer Observatory,
in 2020, around 4,807
new cancer cases were reported in UAE
among which large number of cases were reported for breast and colorectum cancer,
respectively in 2020. This, in turn, is expected to drive the growth of GCC
Genomics Services Market in the forecast period, 2024-2028.
Growing Importance of Genomic Data in Drug Discovery & Development
Genomic data is also
playing an increasingly important role in drug discovery and development.
Advances in sequencing technology have made it possible to identify genetic
mutations that cause diseases, which can be targeted by new drugs. This has led
to a growing demand for genomics services from pharmaceutical companies and
research institutions, which are using genomic data to develop new treatments
for a range of diseases. Additionally, Genomics companies are providing a range
of services to support drug discovery and development, including genomic
sequencing, bioinformatics, and data analysis. As a result, the genomics
services market is expected to continue to grow as the demand for genomic data
in drug discovery and development increases, ultimately propelling the growth
of GCC Genomic Services Market.
Government Initiatives Related
to Healthcare System
The government initiatives and fundings are propelling the growth of
genome based clinical diagnosis and treatment to treat various disorders. Such
initiatives are likely to increase the analysis of genome sequences on different
types of research, concerning developing breakthrough drugs, drug delivery
methods, sequencing methods, screening methods, and understanding the genetic
diversity among the population. For instance, in Saudi Arabia, the
government spent 5.69% of its GDP on healthcare in 2019. Additionally, the
healthcare services are provided by three main sectors in the Kingdom of Saudi
Arabia (KSA): 60% by the Ministry of Health (MOH); 23% by the private sector; and
17% by other government healthcare sectors, which include university hospitals
and tertiary referral centres, etc. Genomics companies are
providing a range of services to support the genomic market demands, including
genomic sequencing, analysis, and interpretation, as well as bioinformatics and
data analysis. As a result, the genomics services market is poised for
continued growth, providing opportunities for both genomics companies and
healthcare providers.
Technology
Advancement for Making Genomic As Personalized Medicine
With recent advancements
and a radical decline in sequencing costs, the popularity of next generation
sequencing (NGS) is more in demand as compared to DNA Microarray Technology. As
costs become less prohibitive and methods become simpler and more widespread,
researchers are choosing NGS over microarrays for more of their genomic
applications. Additionally, NGS has the potential to offer even higher
resolution and a more comprehensive view of the genome. Personalized medicine
is the practice of tailoring medical treatment to the individual
characteristics of each patient, which includes their genomic makeup. The use
of genomic data in personalized medicine has been growing rapidly, as it allows
healthcare providers to identify genetic variants that may affect an
individual's response to specific drugs or treatments. This, in turn, leads to
more targeted and effective treatments, reducing healthcare costs and improving
patient outcomes. As personalized medicine becomes more mainstream, the demand
for genomics services is increasing. Genomics companies are providing a range
of services, including genomic sequencing, analysis, and interpretation, to
healthcare providers and patients. As a result, the genomics services market is
expected to continue to grow as the demand for personalized medicine increases.
This clearly indicates
that a lot of R&D is being done across the GCC region utilising NGS
sequencing for the treatment of human health, thereby supporting the growth of GCC Genomics Services market.
Recent
Developments
In November 2021, a Saudi Arabia based
genomic and bioinformatics startup namely NoorDX, had launched its partnership
with at the King Abdullah University of Science and Technology (KAUST)
innovation cluster, further planning to have a fully functioning
state-of-the-art genetic testing facility in Saudi Arabia in 2022. The company
provides the facilities for whole genome sequencing and whole exome sequencing.
Additionally, in August 2021, Arcensus GmBH announced the launch of its
direct-to-consumer myLifeHeart service, which is based on whole genome
sequencing (WGS) in Saudi Arabia. Furthermore, the increased research spending
and advancements in bioinformatics will have a positive impact on the growth of
the market in the coming years.
Moreover, various genetic services are
available in Saudi Arabia including genotyping, expression analysis,
bioinformatics, molecular karyotyping, and next-generation sequencing services,
etc. They are mainly provided by government hospitals and research centres,, propelling
the growth of GCC Genomics Services Market.
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Market
Segmentation
The GCC
Genomics Services Market can be segmented by technology,
application, end user, company, and region. By technology, the market can be
segmented into Sequencing, PCR, Nucleic Acid Extraction and Purification,
Microarray, and Others. Based on application, the market can be segmented into Drug
Discovery & Development, Diagnostics, Agriculture & Animal Research,
and Others. In terms of end user, the market can be segmented into Hospitals
& Clinics, Academic & Research Institutions, Biotechnology &
Pharmaceutical Companies, and Others.
Market
Players
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 etc. are some of the
leading companies operating in the market.
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Attribute
|
Details
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Base Year
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2022
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Historic
Data
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2018 – 2022
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Estimated
Year
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2022
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Forecast
Period
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2024 – 2028
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Quantitative
Units
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Revenue in USD
Million, Volume Units and CAGR for 2018-2022 and 2023-2028
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Report
coverage
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Revenue forecast, Volume
forecast company share, competitive landscape, growth factors, and trends
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Segments
covered
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Technology
Application
End User
Region
Company
|
|
Regional
scope
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Northeast Region, Midwest Region, South
Region, West Region
|
|
Key
companies profiled
|
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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|
Customization
scope
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10% free report
customization with purchase. Addition or alteration to country, regional
& segment scope.
|
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Pricing and
purchase options
|
Avail customized purchase options to meet your exact research
needs. Explore purchase options
|
|
Delivery
Format
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PDF and Excel through
Email (We can also provide the editable version of the report in PPT/Word
format on special request)
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Report Scope:
In this report, GCC Genomics Services
Market has been segmented into following categories, in addition to the
industry trends which have also been detailed below:
·
GCC Genomics Services Market, By Technology
o Sequencing
o PCR
o Nucleic Acid Extraction and Purification
o Microarray
o Others
·
GCC
Genomics Services Market, By Application
o Drug Discovery & Development
o Diagnostics
o Agriculture & Animal Research
o Others
·
GCC Genomics Services Market, By End User
o
Hospitals
& Clinics
o
Academic
& Research Institutions
o
Biotechnology
& Pharmaceutical Companies
o
Others
·
GCC Genomics Services Market, By Region:
o
UAE
o
Saudi
Arabia
o
Bahrain
o
Oman
o
Qatar
o
Kuwait
Competitive Landscape
Company Profiles: Detailed analysis of the major
companies present in GCC Genomics Services Market
Available Customizations:
With the given market data, TechSci Research offers
customizations according to a company’s specific needs. The following customization
options are available for the report:
Company
Information:
- Detailed analysis and profiling of additional market players (up to five).
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