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, 2028
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Healthcare | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationGCC 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, 2028
According to Global Cancer Observatory, in 2020, around
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
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.
Growing Importance of Genomic Data in Drug Discovery & Development
Government Initiatives Related to Healthcare System
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
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 found at 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.
Market Segmentation
The GCC Genomics Services Market can be segmented
Market Players
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| Attribute | Details |
| Base Year | 2022 |
| Historic Data | 2018 – 2022 |
| Estimated Year | 2022 |
| Forecast Period | 2024 – 2028 |
| Quantitative Units | Revenue in USD Million, Volume Units and CAGR for 2018-2022 and 2023-2028 |
| Report coverage | Revenue forecast, Volume forecast company share, competitive landscape, growth factors, and trends |
| Segments covered | Technology Application End User Region Company |
| Regional scope | 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. |
| Customization scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
| Delivery Format | 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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