The Growing Significance of Genomics Technology

COVID-19 pandemic, an incomparable global public health emergency affected almost every industry, and its long-term effects have impacted the growth of genomics industry too. Genomics is a branch of biotechnology associated with using genetics and molecular biology techniques for the genetic mapping and DNA sequencing of sets of genes or entire genomes of selected organisms, storing the results in databases, and putting the data to use (as in medicine or biology). The major factors that have contributed to the growth of the genomics market over the years are growing government support and increased genomics research, lowered sequencing costs, and increased genomics applications.

The increasing number of start-up enterprises and medical genetics in developing countries is primarily responsible for the market's growth. Rising demand for genomes for medical applications, on the other hand, is expected to boost the growth of the Asia Pacific genomics market in the coming years. From US$ 3.2 billion in 2017, the Asia Pacific genomics industry is predicted to grow to US$ 7.6 billion in 2025. From 2018 to 2025, the market is expected to develop at a CAGR of 10.6 percent.

The healthcare professionals in the Asia Pacific region were unprepared for the requirements of clinical genetic services and have struggled to cope with both, communicable and non-communicable diseases. 

The need for genetic services has risen due to a mix of demands from the middle class population and a lack of regulatory control. Even within the same geographic region, the variety and pattern of genetic illnesses in emerging countries vary. Hence, the focus is on prevention of diseases through carrier screening, genetic counseling and prenatal diagnosis. As a result, the Ministry of Health & Family Welfare has initiated newborn screening programs for sickle cell disease in select states, with intentions to expand it to additional areas.

In 2017, the sequencing segment held a largest market share of 38.1 percent of the genomics market. Due to increased use of genomics sequencing technologies, this category is likely to dominate the market in 2025. Furthermore, the microarray segment is expected to develop at the fastest rate from 2018 to 2025. Additionally, during the forecast period of 2018 to 2025, the services category is expected to develop significantly. During the forecast period, the diagnostics segment is expected to increase at a CAGR of 12.0 percent by application. Diagnostics benefit humans in preventing diseases from being passed down to their children, as well as providing clarity for more concise treatment.

Some of the major primary and secondary sources for genomics included in the report are, Association for Responsible Research and Innovation in Genomics (ARRIGE), Biotechnology Industry Research Assistance Council (BIRAC), Defense Advanced Research Projects Agency (DARPA), Department of Biotechnology (DBT), Ministry of Health and Prevention (Mohap), and among others.