Australia Genomics Market Market Report 2023 to 2030

Australia Genomics Market Analysis

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Australia Genomics Market is projected to grow from $xx Mn in 2023 to $xx Mn by 2030, registering a CAGR of xx% during the forecast period of 2023 - 2030. The market for Genomics is expanding as a result of rising incidence of cancer and increased government support. This demand is fueling the development of Genomics and its application in various fields of healthcare. Some of the key players in the global Genomics Market include Aglient Technologies, Illumina, Inc., Danaher Corporation, Hoffmann-La Roche Ltd., QIAGEN, Perkin Elmer, Thermo Fisher Scientific, Eurofins Scientific, Bio-Rad Laboratories, Inc., Oxford Nanopore Technologies Ltd., Myriad Genetic, Pacific Biosciences, and BGI.

ID: IN10AUHS051 CATEGORY: Healthcare Services GEOGRAPHY: Australia AUTHOR: Dr. Nensi Savani

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Australia Genomics Market Executive Summary

Australia Genomics Market is valued at around $337.1 Bn in 2022 and is projected to reach $1267 Bn by 2030, exhibiting a CAGR of 18% during the forecast period 2023-2030.

Genomics focuses on understanding, applying, and interpreting DNA code to a range of issues. Numerous generic variants, which can be riskier for asymptomatic people to acquire the disease, can be detected using genomics. Genomic research is helpful in the search for new antibacterial agents and in limiting the spread of bacterial diseases, hence, driving the growth of the Genomics market.

Scientific evidence supports the effectiveness of genomics in the management, diagnosis, and treatment of disease. Over the past few years, exceptional clinical qualities have shifted the healthcare environment from conventional treatment procedures to precision medicine. Whole genome sequencing has become an effective tool for the detection of chronic diseases like cancer.

Pharmaceutical and biotechnology firms Agilent Technologies, Illumina, Inc., Danaher Corporation, Hoffmann-La Roche Ltd., QIAGEN, Perkin Elmer, Thermo Fisher Scientific, Eurofins Scientific, Bio-Rad Laboratories, Inc., Oxford Nanopore Technologies Ltd., Myriad Genetic, Pacific Biosciences, and BGI, are some of the major players in the Genomics Market.

The Genomics market is showing exponential growth as essential genetic developments and their applications in various areas of study, such as intragenomic phenomena like epistasis, heterosis, pleiotropy, and other correlations between alleles and loci inside the genome, are driving the market. Also, bioengineering and synthetic biology are anticipated to fuel the growth of the genomics market.

The development of genetic technologies such as CGH, FISH, microarray, karyotyping, sequencing, and gene-editing tools has had a significant impact on how healthcare systems and fundamental biological research are conducted. Additionally, despite a number of moral and legal concerns, direct-to-consumer solutions are one of the most significant advancements in the genomics market since they enable patients to carry out genetic tests on their own.

Market Dynamics

Drivers of Australia Genomics Market:

Growing Incidence of Cancer: The prevalence of cancer and the growing use of next-generation sequencing in cancer research are important drivers for the Genomics market expansion. The way cancer is identified and treated is changing as a result of genomics.

Increasing Government Funding: Recently, the government has been supporting various countries by making significant investments in Genomics which will drive the market for Genomics.

Growing Interest in Personalised Medicine: Personalised medicine helps practitioners to prescribe medicines and treatments according to the exact needs of the patient. Growth in personalised medicine will boost the market for Genomics.

Implementation of Artificial Intelligence: The use of artificial intelligence (AI) in genomics has grown during the past few years. Artificial intelligence algorithms assess the data produced by sequencing technology, allowing for rapid and accurate identification of the genetic variants causing a certain disease which will propel the Genomics market significantly.

Notable Deals in Genomics Market:

In 2023, Complete Genomics announced the launch of DNBSeq-T20, a genetic sequencer that would generate the first sub-$100 genome as well as ultra-high speed DNBSeq-G99 with low to midrange throughput.

In 2022, Trivitron Healthcare launched the Center of Excellence with state- of- the art R&D and manufacturing facilities in India. This centre will implement research and innovation in the field of genomics and others.

In 2022, Replay launched with USD 55 million to transform genomic medicine with interlinking technology platforms. The launch is supported by an international syndicate of investors.

Key players

Garvan Institute of Medical Research The Walter and Eliza Hall Institute of Medical Research QIMR Berghofer Medical Research Institute The South Australian Health and Medical Research Institute (SAHMRI) The Australian Genome Research Facility (AGRF) The University of Queensland Genomics Initiative (UQGI) The Peter MacCallum Cancer Centre Melbourne Genomics Health Alliance Genome.One The Murdoch Children's Research Institute (MCRI)

1. Executive Summary
1.1 Service Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Healthcare Services Market in Country
1.6 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Services
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Market Segmentations For Australia Genomics Market

By Products and Service:

System and Software
Consumables
Services

By Technology:

Sequencing
Microarray
PCR
Nucleic Acid Extraction and Purification
Others

By Application:

Diagnostic Application
Drug Discovery and Development
Agriculture
Precision Medicine

By End-user:

Hospitals and Clinics
Research Institutes
Pharmaceutical and Biotechnology Companies
Others

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.