For developing personalized medicine for cost-effective treatments of various diseases, increasing prevalence of fetal diseases like cancer, diabetes and others, growing population of the elderly (aging is considered as the greatest risk factor for the development of diseases such as cardiovascular and neurological diseases), more approaches for developing novel genomics techniques and tools, and increased interest in genetically-modified animals and plants, and others are among the growth drivers for the global genomics market. On the other hand, significant investments needed in genomic instruments, lack of funding in some emerging markets, and ethical and legal challenges are a few constraints to the growth of the genomics market. All in all, the positive factors are forecast to prevail.
Among all the regions, North America has been dominating the global genomics market owing to the remarkable amount of grants and research funding available in the U.S. through key industry players like Illumina, Qiagen and Roche Diagnostics in addition to large private and public funding organizations such as the National Institutes of Health. Meanwhile, the Asian market is expected to undergo rapid growth, led by China and India because of their amazing economic growth, increasing genetic research and development activities, and the growing focus of the major players in this region.
The genomics industry as a whole is shifting from the early stage of its development for which the focus has been on technology, innovation and new research. Currently, providers in the industry are beginning to offer integrated genetic services.
Healthcare in China