Genomics Market worth 19.99 Billion USD by 2020 Genomics Market worth 19.99 Billion USD by 2020 | Page 3

companies offering genomics products. A boost in demand for genomic
products is anticipated in North America due to the passage of
Personalized Medicine Initiative in 2015. The new healthcare initiative
will increase the adaptation of genomics in personalized medicine and
provide better treatment to the patients.
The factors driving the growth of the global genomics market include
increasing investments, grants, and funds by the government; increasing
research in the field of genomics; increasing number of start-up
companies; and increasing application of genomic sequencing in the
diagnostics. Despite the large number of benefits like detection of
genetic variations in a diseased condition, high costs of genomic
sequencing instruments/systems are restraining the genomics market.
Some major players in the global genomics market include Illumina, Inc.
(U.S.), Affymetrix, Inc. (U.S.), Agilent Technologies, Inc. (U.S.), BGI
(China), Thermo Fisher Scientific, Inc. (U.S.), Bio Rad Laboratories,
Inc. (U.S.),