Global Genomics Market: A Rundown
In any, every microorganism or multicellular organism exists a complete set of DNA: the access to all the information that is essentially required for the maintenance and sustenance of the organism. According to the National Institute of Health’s official website, in homo sapiens, more than 3 billion DNA base pairs are present in all the cells that have a nucleus inside them. Genomics is a genetics-related research area that deals with the sequencing, and careful analysis of an organism’s genome. The genomics market is experiencing a novel boost owing to its requirement in treating diseases and establishing a vivid understanding of the human body.
Genomics market researchers carefully analyze the genomes and engage in mapping and DNA sequencing of the genomes. They are able to achieve this by employing the use of efficient computer-aided technology that helps them in mapping the genomes without any errors.
Analysts at IndustryARC have invested time in researching upon the genomics market and predicted the value of market size in 2018 to be between $16 billion to $16.5 billion. The market is also projected to grow at a robust CAGR of 9.2%-10.2% between the forecast period of 2019-2025.
Global Genomics Market: Recent Developments and Market Trends
Genomics market is essential in the current global scenario because scientists are utilizing its resources to understand many diseases that are mostly incurable, and do not have any scientific findings.
- Genomics Will Help Cure Cancer
According to Cancer Research of the United Kingdom, around 9.6 million deaths occurred due to cancer throughout the world in the year 2018. After cardiovascular diseases, cancer has been a leading cause for an increase in human mortality as a growing number of people become a victim to it due to poor health lifestyles, and genetics. Scientists are working actively in the field to understand how genomics could help in developing a cure for cancer. When a person suffers from cancer, his/her tumor cells releases in the bloodstream after they experience death. While doing this, they mix their mutated DNA into the blood, a source that has been capitalized on tremendously by scientists in the genomics market. This helps in gaining insights into tumor progression, medicinal effect, and discover a possible non-invasive treatment.
- Artificial Intelligence and Genomics
Artificial Intelligence has started impacting the global healthcare industry at a colossal level. It is already making strides in the genomics market by enrolling stratospheric companies into the research. Microsoft, a company founded by Bill Gates started an elevation project where researchers from UC Berkeley collaborated with the company to improve on gene editing results. In the same way, Google released a deep leaning model in December 2017 that was titled DeepVariant. This model was made from scratch and trained to analyze genetic sequences.
Genomics is a field of science that deals with the sequencing, mapping, and analysis of genomes in microorganisms, or multicellular organisms. The genomics market will experience robust growth in the upcoming years because of increasing interest in the field by companies working on artificial intelligence. It won’t be long before we observe this market to grow fundamentally owing to its capabilities of performing a non-invasive, painless treatment.
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