As genome sequencing approaches $100 direct to the consumer, a $50 billion potential opportunity is projected to unlock, resulting in 1 million terabytes of genome data by 2025.
The genome sequencing market will reach $25 billion by 2026, and it will be further intensified by COVID-19, diagnosis of tumors and rare diseases along with comprehensive genome studies. Adjacent markets for data storage, high performance computing (HPC), lab automation, and artificial intelligence are expected to open another $20 billion.
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According to MarketsandMarkets analysis,
- $50 billion of potential opportunities are unlocked as genome sequencing heads $100 directly to the consumer, which was one of the most talked about trends of 2021.
- Global genomic studies and projects involving advanced genetic sequencing are expected to lead to better clinical decisions in the coming years, providing profitable growth opportunities for NGS companies.
- In addition, the life sciences market is witnessing an increasing adoption of artificial intelligence, personalized healthcare, gene editing, etc., which is likely to disrupt the demand for genomics, which in turn affects the growth of the market.
- The increasing demand for sequencing and bioinformatics in diagnostics is expected to disrupt the demand for IVD over the next few years.
MarketsandMarkets focuses on high-growth niche markets such as Artificial Intelligence in Genomics, Spatial and Transcription Genomics, Liquid Biopsy, Single-Cell Analysis, and related markets, providing a comprehensive understanding of the entire genomics ecosystem through the world’s first cloud of market intelligence, “KnowledgeStore”. It helps find blind spots in customer revenue decisions due to the interconnectedness and unknowns that affect customers and their customers.
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