Functional Genomics Market Forecast, 2023-2033 [BIS Research]

Market Research Report

A quick peek into the report

1.1   Product Definition
1.2   Inclusion and Exclusion Criteria
1.3   Market Scope
1.3.1   Scope of the Study
1.3.2   Key Questions Answered in the Report
1.4   Research Methodology
1.4.1   Global Functional Genomics Market: Research Methodology
1.4.2   Data Sources
1.4.3   Market Estimation Model
1.4.4   Criteria for Company Profiling

2.1   Functional Genomics Workflow Analysis
2.2   Future Potential
2.3   Impact of Functional Genomics
2.3.1   Gene Therapy
2.3.2   Drug Discovery and Development
2.3.3   Gene Expression
2.3.4   Single-Cell Analysis

3.1   Legal and Regulatory Framework of Genetic Tests
3.1.1   Diagnostic Test
3.2   Reimbursement Scenario

4.1   Overview
4.2   Market Drivers
4.2.1   Integration of Multi-omics Approaches for Patient Stratification
4.2.2   Increasing Popularity of Epigenetics Leading to Vast Usage
4.2.3   Increased Technological Advancements and Government Initiatives in the Functional Genomics Ecosystem
4.3   Market Challenges
4.3.1   Limitations in Implementation of Data in Proteomics and Metabolomics
4.3.2   Regulatory Compliance Issues Related to Functional Genomics Technology
4.4   Market Opportunities
4.4.1   Upsurge in Proteomic Approaches in Biomarker Discovery
4.4.2   Rising Opportunities for Translational and Clinical Studies

5.1   Overview
5.2   Key Strategies and Developments
5.2.1   Synergistic Activities
5.2.2   Product Launches and Product Approvals
5.2.3   Expansions
5.2.4   Mergers and Acquisitions
5.2.5   Investments and Other Activities
5.3   Market Share Analysis (2022)

6.1   Overview
6.1.1   Kits and Assays
6.1.2   Instruments

7.1   Overview
7.1.1   Next-Generation Sequencing (NGS)
7.1.2   Polymerase Chain Reaction (PCR)
7.1.3   Microarray
7.1.4   Other Technologies

8.1   Overview
8.2   Epigenomics
8.3   Transcriptomics
8.4   Proteomics
8.5   Metabolomics

9.1   Overview
9.2   Academic and Research Institutions
9.3   Biotechnology and Biopharmaceutical Companies
9.4   Other End Users (Hospitals, Clinics, and Diagnostic Labs)

10.1   Overview
10.2   North America
10.2.1   U.S.
10.2.2   Canada
10.3   Europe
10.3.1   Germany
10.3.2   France
10.3.3   U.K.
10.3.4   Italy
10.3.5   Spain
10.3.6   Rest-of-Europe
10.4   Asia-Pacific
10.4.1   China
10.4.2   Japan
10.4.3   India
10.4.4   Australia
10.4.5   Singapore
10.4.6   Rest-of-Asia-Pacific
10.5   Latin America
10.5.1   Brazil
10.5.2   Mexico
10.5.3   Rest-of-Latin America
10.6   Rest-of-the-World

11.1   Overview
11.2   Agilent Technologies, Inc.
11.2.1   Company Overview
11.2.2   Role of Agilent Technologies, Inc. in the Global Functional Genomics Market
11.2.3   Financials
11.2.4   Key Insights about the Financial Health of the Company
11.2.5   Recent Developments
11.2.6   Analyst Perspective
11.3   Becton, Dickinson and Company (BD)
11.3.1   Company Overview
11.3.2   Role of Becton, Dickinson and Company (BD) in the Global Functional Genomics Market
11.3.3   Financials
11.3.4   Key Insights about the Financial Health of the Company
11.3.5   Analyst Perspective
11.4   Bio-Rad Laboratories, Inc.
11.4.1   Company Overview
11.4.2   Role of Bio-Rad Laboratories, Inc. in the Global Functional Genomics Market
11.4.3   Financials
11.4.4   Key Insights about the Financial Health of the Company
11.4.5   Recent Developments
11.4.6   Analyst Perspective
11.5   Danaher. (Integrated DNA Technologies, Inc.)
11.5.1   Company Overview
11.5.2   Role of Danaher. (Integrated DNA Technologies, Inc.) in the Global Functional Genomics Market
11.5.3   Financials
11.5.4   Key Insights about the Financial Health of the Company
11.5.5   Analyst Perspective
11.6   Exact Sciences Corporation
11.6.1   Company Overview
11.6.2   Role of Exact Sciences Corporation in the Global Functional Genomics Market
11.6.3   Financials
11.6.4   Key Insights about the Financial Health of the Company
11.6.5   Recent Developments
11.6.6   Analyst Perspective
11.7   F. Hoffmann-La Roche Ltd
11.7.1   Company Overview
11.7.2   Role of F. Hoffmann-La Roche Ltd in the Global Functional Genomics Market
11.7.3   Financials
11.7.4   Key Insights about the Financial Health of the Company
11.7.5   Recent Developments
11.7.6   Analyst Perspective
11.8   Illumina, Inc.
11.8.1   Company Overview
11.8.2   Role of Illumina, Inc. in the Global Functional Genomics Market
11.8.3   Financials
11.8.4   Key Insights about the Financial Health of the Company
11.8.5   Recent Developments
11.8.6   Analyst Perspective
11.9   Merck KGaA
11.9.1   Company Overview
11.9.2   Role of Merck KGaA in the Global Functional Genomics Market
11.9.3   Financials
11.9.4   Key Insights about the Financial Health of the Company
11.9.5   Analyst Perspective
11.10 MRM Proteomics
11.10.1   Company Overview
11.10.2   Role of MRM Proteomics in the Global Functional Genomics Market
11.10.3   Analyst Perspective
11.11   Pacific Biosciences of California, Inc.
11.11.1   Company Overview
11.11.2   Role of Pacific Biosciences of California, Inc. in the Global Functional Genomics Market
11.11.3   Financials
11.11.4   Key Insights about the Financial Health of the Company
11.11.5   Recent Developments
11.11.6   Analyst Perspective
11.12   Perkin Elmer, Inc.
11.12.1   Company Overview
11.12.2   Role of PerkinElmer, Inc. in the Global Functional Genomics Market
11.12.3   Financials
11.12.4   Key Insights about the Financial Health of the Company
11.12.5   Analyst Perspective
11.13   Promega Corporation
11.13.1   Company Overview
11.13.2   Role of Promega Corporation in the Global Functional Genomics Market
11.13.3   Analyst Perspective
11.14   QIAGEN
11.14.1   Company Overview
11.14.2   Role of QIAGEN in the Global Functional Genomics Market
11.14.3   Financials
11.14.4   Key Insights about the Financial Health of the Company
11.14.5   Recent Developments
11.14.6   Analyst Perspective
11.15   Thermo Fisher Scientific Inc.
11.15.1   Company Overview
11.15.2   Role of Thermo Fisher Scientific Inc. in the Global Functional Genomics Market
11.15.3   Financials
11.15.4   Key Insights about the Financial Health of the Company
11.15.5   Recent Developments
11.15.6   Analyst Perspective

Table 1:   Global Functional Genomics Market: Impact Analysis
Table 2:   Technological Trends in Global Functional Genomics Market
Table 3:   Technological Advancements in the Functional Genomics Ecosystem
Table 4:   Initiatives Taken by the Government in Functional Genomics
Table 5:   Cancers and Their Most Common Biomarker Tests
Table 6:   Kits and Assays Offered by Key Players
Table 7:   Instruments Offered by Key Players
Table 8:   Next-Generation Sequencing (NGS) Based Products for Functional Genomics
Table 9:   Polymerase Chain Reaction (PCR) Based Products for Functional Genomics
Table 10:   Microarray-Based Products for Functional Genomics
Table 11:   North America: Market Dynamics
Table 12:   Europe: Market Dynamics
Table 13:   Asia-Pacific: Market Dynamics
Table 14:   Latin America: Market Dynamics

Figure 1:   Global Functional Genomics Market, $Billion, 2023 and 2033
Figure 2:   Biological Features of Functional Genomics Approaches
Figure 3:   Share of Global Functional Genomics Market (By Product), $Billion, 2022 and 2033
Figure 4:   Share of Global Functional Genomics Market (by Application), $Billion, 2022 and 2033
Figure 5:   Share of Global Functional Genomics Market (by Region), 2022
Figure 6:   Global Functional Genomics Market Segmentation
Figure 7:   Global Functional Genomics Market: Research Methodology
Figure 8:   Primary Research Methodology
Figure 9:   Bottom-Up Approach (Segment-Wise Analysis)
Figure 10:   Top-Down Approach (Segment-Wise Analysis)
Figure 11:   Epigenomics Workflow
Figure 12:   Transcriptomics Workflow
Figure 13:   Proteomics Workflow
Figure 14:   Metabolomics Workflow
Figure 15:   U.S. Federal Agencies and their Role in Genetic Tests
Figure 16:   U.S. FDA Regulatory Workflow for Diagnostic Tests
Figure 17:   Global Functional Genomics Market Dynamics
Figure 18:   Rate of Adoption of Multi-omics Approach for Patient Stratification and Research
Figure 19:   Total Number of Publications Published Each Year for Cancer Research Through Multi-omics
Figure 20:   Total Epigenetics Publications to Understand the Development of Age-Related Chronic Diseases
Figure 21:   Total Number of Clinical Trials under Drug Development for Genomics, 2016-2022
Figure 22:   Share of Key Developments and Strategies, January 2020-March 2023
Figure 23:   Share of Synergistic Activities (by Company), January 2020-March 2023
Figure 24:   Share of Product Launches and Product Approvals (by Company), January 2020-March 2023
Figure 25:   Share of Expansions (by Company), January 2020-March 2023
Figure 26:   Share of Mergers and Acquisitions (by Company), January 2020-March 2023
Figure 27:   Share of Investments and Other Activities (by Company), January 2020-March 2023
Figure 28:   Market Share Analysis for Global Functional Genomics Market, $Billion, 2022
Figure 29:   Global Functional Genomics Market (by Product)
Figure 30:   Share of Global Functional Genomics Market (by Product), $Billion, 2022 and 2033
Figure 31:   Global Functional Genomics Market (Kits and Assays), ($Billion), 2022-2033
Figure 32:   Global Functional Genomics Market (Instruments), ($Billion), 2022-2033
Figure 33:   Global Functional Genomics Market (by Technology)
Figure 34:   Share of Global Functional Genomics Market (by Technology), $Billion, 2022 and 2033
Figure 35:   Global Functional Genomics Market (Next-Generation Sequencing (NGS)), $Billion, 2022-2033
Figure 36:   Global Functional Genomics Market (Polymerase Chain Reaction (PCR)), $Billion, 2022-2033
Figure 37:   Global Functional Genomics Market (Microarray), $Billion, 2022-2033
Figure 38:   Global Functional Genomics Market (Other Technologies), $Billion, 2022-2033
Figure 39:   Global Functional Genomics Market (by Application)
Figure 40:   Global Functional Genomics Market (by Application), $Billion, 2022 and 2033
Figure 41:   Global Functional Genomics Market (Epigenomics), $Billion, 2022-2033
Figure 42:   Global Functional Genomics Market (Transcriptomics), $Billion, 2022-2033
Figure 43:   Global Functional Genomics Market (Proteomics), $Billion, 2022-2033
Figure 44:   Global Functional Genomics Market (Metabolomics), $Billion, 2022-2033
Figure 45:   Global Functional Genomics Market (by End User)
Figure 46:   Global Functional Genomics Market (by End User), $Billion, 2022 and 2033
Figure 47:   Global Functional Genomics Market (Academic and Research Institutions), $Billion, 2022-2033
Figure 48:   Global Functional Genomics Market (Biotechnology and Biopharmaceutical Companies), $Billion, 2022-2033
Figure 49:   Global Functional Genomics Market (Other End Users), $Billion, 2022-2033
Figure 50:   Global Functional Genomics Market Snapshot (by Region)
Figure 51:   Global Functional Genomics Market (by Region), $Billion, 2023-2033
Figure 52:   North America Functional Genomics Market, $Billion, 2023-2033
Figure 53:   North America Functional Genomics Market (by Country), $Billion, 2023-2033
Figure 54:   U.S. Functional Genomics Market, $Billion, 2022-2033
Figure 55:   Canada Functional Genomics Market, $Billion, 2022-2033
Figure 56:   Europe Functional Genomics Market, $Billion, 2022-2033
Figure 57:   Europe Functional Genomics Market (by Country), $Billion, 2022-2033
Figure 58:   Germany Functional Genomics Market, $Billion, 2022-2033
Figure 59:   France Functional Genomics Market, $Billion, 2022-2033
Figure 60:   U.K. Functional Genomics Market, $Billion, 2022-2033
Figure 61:   Italy Functional Genomics Market, $Billion, 2022-2033
Figure 62:   Spain Functional Genomics Market, $Billion, 2022-2033
Figure 63:   Rest-of-Europe Functional Genomics Market, $Billion, 2022-2033
Figure 64:   Asia-Pacific Functional Genomics Market, $Billion, 2022-2033
Figure 65:   Asia-Pacific Functional Genomics Market (by Country), $Billion, 2022-2033
Figure 66:   China Functional Genomics Market, $Billion, 2022-2033
Figure 67:   Japan Functional Genomics Market, $Billion, 2022-2033
Figure 68:   India Functional Genomics Market, $Billion, 2022-2033
Figure 69:   Australia Functional Genomics Market, $Billion, 2022-2033
Figure 70:   Singapore Functional Genomics Market, $Billion, 2022-2033
Figure 71:   Rest-of-Asia-Pacific Functional Genomics Market, $Billion, 2022-2033
Figure 72:   Latin America Functional Genomics Market, $Billion, 2022-2033
Figure 73:   Latin America Functional Genomics Market Share (by Country), $Million, 2022-2033
Figure 74:   Brazil Functional Genomics Market, $Million, 2022-2033
Figure 75:   Mexico Functional Genomics Market, $Million, 2022-2033
Figure 76:   Rest-of-Latin America Functional Genomics Market, $Million, 2022-2033
Figure 77:   Rest-of-the-World Functional Genomics Market, $Billion, 2022-2033
Figure 78:   Global Functional Genomics Market, Total Number of Key Companies Profiled
Figure 79:   Agilent Technologies, Inc.: Product Portfolio
Figure 80:   Agilent Technologies, Inc.: Overall Financials, $Million, 2020-2022
Figure 81:   Agilent Technologies, Inc.: Revenue (by Segment), $Million, 2020-2022
Figure 82:   Agilent Technologies, Inc.: Revenue (by Region), $Million, 2020-2022
Figure 83:   Agilent Technologies, Inc.: R&D Expenditure, $Million, 2020-2022
Figure 84:   Becton, Dickinson and Company (BD): Product Portfolio
Figure 85:   Becton, Dickinson and Company (BD).: Overall Financials, $Million, 2020-2022
Figure 86:   Becton, Dickinson and Company (BD).: Revenue (by Segment), $Million, 2020-2022
Figure 87:   Becton, Dickinson and Company (BD).: Revenue (by Region), $Million, 2020-2022
Figure 88:   Becton, Dickinson and Company (BD).: R&D Expenditure, $Million, 2020-2022
Figure 89:   Bio-Rad Laboratories, Inc.: Product Portfolio
Figure 90:   Bio-Rad Laboratories, Inc.: Overall Financials, $Million, 2020-2022
Figure 91:   Bio-Rad Laboratories, Inc.: Revenue (by Segment), $Million, 2020-2022
Figure 92:   Bio-Rad Laboratories, Inc.: Revenue (by Region), $Million, 2020-2022
Figure 93:   Bio-Rad Laboratories, Inc.: R&D Expenditure, $Million, 2020-2022
Figure 94:   Danaher. (Integrated DNA Technologies, Inc.): Product Portfolio
Figure 95:   Danaher. (Integrated DNA Technologies, Inc.): Overall Financials, $Million, 2020-2022
Figure 96:   Danaher. (Integrated DNA Technologies, Inc.): Revenue (by Segment), $Million, 2020-2022
Figure 97:   Danaher. (Integrated DNA Technologies, Inc.): Revenue (by Region), $Million, 2020-2022
Figure 98:   Danaher. (Integrated DNA Technologies, Inc.): R&D Expenditure, $Million, 2020-2022
Figure 99:   Exact Sciences Corporation: Product Portfolio
Figure 100:   Exact Sciences Corporation: Overall Financials, $Million, 2020-2022
Figure 101:   Exact Sciences Corporation: Revenue (by Segment), $Million, 2020-2022
Figure 102:   Exact Sciences Corporation: Revenue (by Region), $Million, 2020-2022
Figure 103:   Exact Sciences Corporation: R&D Expenditure, $Million, 2020-2022
Figure 104:   F. Hoffmann-La Roche Ltd: Product Portfolio
Figure 105:   F. Hoffmann-La Roche Ltd: Overall Financials, 2020-2022
Figure 106:   F. Hoffmann-La Roche Ltd: Revenue (by Segment), 2020-2022
Figure 107:   F. Hoffmann-La Roche Ltd: R&D Expenditure, 2020-2022
Figure 108:   Illumina, Inc.: Product Portfolio
Figure 109:   Illumina, Inc.: Overall Financials, $Million, 2020-2022
Figure 110:   Illumina, Inc.: Revenue (by Segment), $Million, 2020-2022
Figure 111:   Illumina, Inc.: Revenue (by Region), $Million, 2020-2022
Figure 112:   Illumina, Inc. (GRAIL, LLC.): R&D Expenditure, $Million, 2020-2022
Figure 113:   Merck KGaA: Product Portfolio
Figure 114:   Merck KGaA: Overall Financials, $Million, 2020-2022
Figure 115:   Merck KGaA: Revenue (by Segment), $Million, 2020-2022
Figure 116:   Merck KGaA: Revenue (by Region), $Million, 2020-2022
Figure 117:   Merck KGaA: R&D Expenditure, $Million, 2020-2022
Figure 118:   MRM Proteomics: Product Portfolio
Figure 119:   Pacific Biosciences of California, Inc: Product Portfolio
Figure 120:   Pacific Biosciences of California, Inc.: Overall Financials, 2020-2022
Figure 121:   Pacific Biosciences of California, Inc.: Revenue (by Segment), 2020-2022
Figure 122:   Pacific Biosciences of California, Inc.: Revenue (by Region), 2020-2022
Figure 123:   Pacific Biosciences of California, Inc.: R&D Expenditure, 2020-2022
Figure 124:   Perkin Elmer, Inc.: Product Portfolio
Figure 125:   PerkinElmer, Inc.: Overall Financials, $Million, 2020-2022
Figure 126:   PerkinElmer, Inc.: Revenue (by Segment), $Million, 2020-2022
Figure 127:   PerkinElmer, Inc.: Revenue (by Region), $Million, 2020-2022
Figure 128:   PerkinElmer, Inc.: R&D Expenditure, $Million, 2020-2022
Figure 129:   Promega Corporation: Product Portfolio
Figure 130:   QIAGEN.: Product Portfolio
Figure 131:   QIAGEN: Overall Financials, $Million, 2019-2021
Figure 132:   QIAGEN: Revenue (by Segment), $Million, 2019-2021
Figure 133:   QIAGEN: Revenue (by Region), $Million, 2019-2021
Figure 134:   QIAGEN N.V.: R&D Expenditure, $Million, 2019-2021
Figure 135:   Thermo Fisher Scientific Inc.: Product Portfolio
Figure 136:   Thermo Fisher Scientific Inc.: Overall Financials, $Million, 2020-2022
Figure 137:   Thermo Fisher Scientific Inc.: Revenue (by Segment), $Million, 2020-2022
Figure 138:   Thermo Fisher Scientific Inc.: Revenue (by Region), $Million, 2020-2022
Figure 139:   Thermo Fisher Scientific Inc.: R&D Expenditure, $Million, 2020-2022

Market Report Coverage

Functional Genomics Market
Base Year	2022	Market Size in 2022	$10.57 Billion
Forecast Period	2023-2033	Value Projection and Estimation by 2033	$46.24 Billion
CAGR During Forecast Period	14.04%	Number of Tables	14
Number of Pages	180	Number of Figures	139

Key Market Players and Competition Synopsis

The companies that are profiled have been selected based on inputs gathered from primary experts, analyzing company coverage, product portfolio, and market penetration.

Key Companies Profiled

•   Agilent Technologies, Inc.
•   Becton, Dickinson and Company (BD)
•   Bio-Rad Laboratories, Inc.
•   Danaher. (Integrated DNA Technologies, Inc.)
•   Exact Sciences Corporation
•   F. Hoffmann-La Roche Ltd
•   Illumina, Inc.
•   Merck KGaA
•   MRM Proteomics
•   Pacific Biosciences of California, Inc.
•   Promega Corporation
•   QIAGEN
•   Thermo Fisher Scientific Inc.

How can this report add value to an organization?

Product/Innovation Strategy: The report considers functional genomics kits and assays-based companies. The industry is seeing constant development and product launches with new and innovative upgrades. Additionally, new discoveries of more efficient instruments and tools of functional genomics is increasing researchers' trust in functional genomics.

Growth/Marketing Strategy: The key components in functional genomics are the kits and assays along with the instruments for sample analysis. The advancements in the overall fucntioncal genomics ecosystem are influencing the growth of this market.

Competitive Strategy: The key players in the global functional genomics market have been analyzed and profiled in the study, consisting of most product-based companies. Moreover, a detailed competitive benchmarking of the players operating in the global functional genomics market has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.

Functional Genomics Industry and Technology Overview

In 2022, the global functional genomics market was valued at $10.57 billion, and it is expected to reach $46.24 billion by 2033, growing at a CAGR of 14.04% during the forecast period 2023-2033. The growth in the global functional genomics market is expected to be driven by its increased applications especially in targeted therapy and precision medicine.

Market Lifecycle Stage

Functional genomics is the study of genes and their interactions in different biological processes. The field aims to narrow down the candidate genes or regions from the entire genome that can be analyzed in detail to understand the working of various biological processes. The workings of individual components of a biological system including various interactions at the DNA, RNA, and proteins level is analyzed at the genotypic as well as the phenotypic level. The field is focused on the dynamics of gene products which can be at a specific developmental stage during a disease. Functional genomics is used to link phenotypes to genotypes using the study findings.

According to BIS Research functional genomics products are used in DNA level (epigenomics), RNA level (transcriptomics), protein level (proteomics) or metabolite level (metabolomics). This includes all the products used in these fields’ workflow before bioinformatics and data analysis. Together all these fields describe the transcripts, metabolites, and proteins of any biological system. The integration of all these pieces makes up the entire biological system that is being studied which makes up the field of functional genomics.

Figure: Global Functional Genomics Market, $Billion, 2023 and 2033

Source: BIS Research Analysis

Impact

• For instance, in May 2022, Thermo Fisher Scientific, Inc. partnered with Qatar Foundation to develop a pan-Arab genotyping array. The intent behind this product launch was to be a cost-effective alternative to whole-genome sequencing and to provide greater diversity in genome-wide research studies under Qatar Genome Program.
• In September 2022, Illumina Inc. introduced the NovaSeqX Series (NovaSeq X and NovaSeq X Plus), which are next-generation sequencers designed for large-scale production. With the capability to sequence over 20,000 genomes per year, this new technology offers unparalleled accuracy and scalability.

Impact of COVID-19

In March 2019, the world was hit by a storm with the Sars-CoV-2 virus, which led to the entire world being shut down and everybody getting tested for the virus. As the amount of testing increased, it became important to increase the pace of testing as well. To do this, next-generation sequencers were set up at many clinical and diagnostic centers to sequence the genomes and transcriptomes of the virus as well as the infected patients to understand and procure treatments.

Recently, NGS technologies are increasingly being used for clinical diagnosis. The overall popularity of NGS sequencing for genome and transcriptome sequencing was increased during COVID-19 because of its use in the detection of coronavirus by the methods such as SARS-CoV-2 surveillance, detection, and the detection of new viruses.

In response to the COVID-19 pandemic and the impact on medical research at the National Institutes of Health (NIH) and the National Cancer Institute (NCI) both extended grant application deadlines, laid back reporting requirements, and offered flexibility on how the grant money is spent. The national government supported research work and offered medical researchers the flexibility to implement their skill set and knowledge in studying SARS-CoV-2. Due to this, the use of NGS during COVID-19 ended up increasing due to its use in COVID-19 testing.

In fact, even now, after the pandemic has subsided the effect lingers and the use of sequencing instruments is not expected to go down but to keep increasing over the next decade enhancing the fields for epigenomics, transcriptomics, proteomics and metabolomics as well.

Market Segmentation:

Segmentation 1: by Product
• Kits and Assays
• Instruments

As of 2022, the global functional genomics market (by product) was dominated by the kits and assays segment, holding a 58.12% market share.

Segmentation 2: by Technology
•   Next-Generation Sequencing (NGS)
•   Polymerase Chain Reaction (PCR)
•   Microarray
•   Other

The global functional genomics market (by technology) is expected to be dominated by the next-generation sequencing (NGS) segment during the forecast period 2023-2033. This is because it is the most efficient and accurate technology currently available when it comes to gene analysis.

Segmentation 3: by Application
•   Transcriptomics
•   Epigenomics
•   Proteomics
•   Metabolomics

The global functional genomics market (by application) is expected to be dominated by the transcriptomics segment in the market during the forecast period 2023-2033. This is because this is one the oldest fields of functional genomics with much research and efficient tools already done, additionally it is easier to analyse RNAs as compared to proteins, thus the high revenue of this segment.

Segmentation 4: by End User
•   Academic & Research Institutions
•   Biotechnology and Biopharmaceutical Companies
•   Other End Users

As of 2022, the global functional genomics market (by end user) was dominated by the academic and research institutions segment, holding a 60.32% market share.

Segmentation 5: by Region
•   North America
•   Europe
•   Asia-Pacific
•   Latin America
•   Rest-of-the-World

North America is expected to dominate the global functional genomics market with a revenue of $4.21 billion in 2022. However, the Asia-Pacific (APAC) region, constituting several emerging economies, is expected to register the highest CAGR of 15.27% during the forecast period 2023-2033.

Recent Developments in Global Functional Genomics Market

•   In September 2022, Thermo Fisher Scientific partnerered with the joint effort of Acdemia Sinica and multiple hospitals across the country, i.e., Taiwan Precision Medicine Initiative (TPMI) to advance the next phase of the large-scale predictive genomics study. The intent behind this partnership was to support its goal of genotyping 1 million people in Taiwan. TPMI reached the milestone of enrolling more than 500,000 participants in July, making it the largest study of its kind outside of the United States and Europe.
•   In March 2022, Thermo Fisher Scientific collaborated with Symphogen and Servier to provide biopharmaceutical discovery and development laboratories with advanced tools and simplified processes for effective analysis of intricate therapeutic proteins, thereby supporting their research efforts.
•   In July 2021, Pacific Biosciences of California, Inc. has sighned a agreement to acquire Omniome. This acquitision is likley to expand the portfolio in epigenetics segments
•   In October 2022, Oxford Nanopore Technologies introduced the new PromethION 2 ("P2") Solo sequencer in the market. It is a high-yield sequencer that provides real-time whole genome sequencing, enabling more than just basic DNA analysis. With the capacity for comprehensive analysis of genetic variants, transcriptomic and epigenetic data on a single platform, this technology is aimed at driving scientific discovery to improve lives.
•   In September 2022, Illumina Inc. introduced the NovaSeqX Series (NovaSeq X and NovaSeq X Plus), which are next-generation sequencers designed for large-scale production. With the capability to sequence over 20,000 genomes per year, this new technology offers unparalleled accuracy and scalability.

Demand – Drivers and Limitations

Following are the demand drivers for the global functional genomics market:

•   Integration of Multi-omics Approaches for Patient Stratification
•   Increasing Popularity of Epigenetics Leading to Vast Usage
•   Increased Technological Advancements and Government Initiatives in the Functional Genomics Ecosystem

The market is expected to face some limitations too due to the following challenges:

• Limitation in Implementation of Data in Proteomics and Metabolomics
• Regulatory Compliance issues related to Functional Genomics Technology

Analyst’s View

According to Swati Sood, Principal Analyst, BIS Research, “Global functional genomics market is a one of the major markets going to be involved in the revolution of precision medicine in the coming years. Functioanl genomics helps us understand the granulality of the interactions between DNA, RNA and proteins which is the base of all the drug discovery, precision medicine and targeted therapy research among many pother applications of the field.”

Functional Genomics Market - A Global and Regional Analysis

Focus on Product, Technology, Application, End User and Country Analysis - Analysis and Forecast, 2023-2033

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Some Faq's

Frequently Asked Questions

Functional genomics can be studied at two levels, at the genetic and proteomic level where the functional interaction of genes and proteins are studied or on the other hand at the gene-by-gene level using molecular biology techniques. Data generated from functional genomics studies varies greatly and is derived from various processes related to gene expression, DNA sequence, protein function which includes coding and non-coding transcription, protein-DNA, protein-RNA, and protein-protein interactions, protein translation. This data is used to understand the dynamics and interactive networks which regulate cell differentiation, gene expression and cell cycle progression.

The major advantage of functional genomics, is its intergrations of the for fields i.e. DNA level (epigenomics), RNA level (transcriptomics), protein level (proteomics) or metabolite level (metabolomics). With recent technological advancements, it has also become easier to study cells at the system level and the availability of complete genome sequences. The factors captured by functional genomics ultimately help establish the relationship between phenotype and genotype of the body and thus, how the disease is presented in a patient. The understanding of this field leads to increased diagnosis accuracy and better targeted treatments.

The global functional genomics market has seen major developments such as business expansions, partnerships, collaborations, and joint ventures by key players operating in the market. According to BIS Research analysis, the majority of the companies preferred partnerships, collaborations, and joint ventures in addition to multiple product launches as a strategy to further increase their growth in the global functional genomics market.

A new entrant needs to make sure that the scope fo the functional genomics market is huge and can range from researching cell interations to discussing the switching on and off of genes. To enter the market one needs to know the exact applications the company wants to target and focus on the developments, instruments, and kits around it.

The following can be considered the USPs of the report:

· Vast segmentation of the report

· Product specifications and comparative analysis

· Market dynamic analysis of the opportunities, trends, and challenges in the market

· Competitive benchmarking of key players for each product type

· Growth share analysis for key segments

This report will be useful for firms trying to understand the latest developemnts and applications in the field of functional genomics. Additionally, new entrants can also benefit from the report to get an overview of how the market is divided and segmented in various applications and regions.

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A quick peek into the report

Table of Contents

Market Report Coverage

How can this report add value to an organization?

Functional Genomics Industry and Technology Overview

$5500

Functional Genomics Market - A Global and Regional Analysis

Frequently Asked Questions

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Functional Genomics Market - A Global and Regional Analysis

A quick peek into the report

Table of Contents

1 Markets

2 Market Overview

3 Industry Insight

4 Market Dynamics

5 Competitive Insight

6 Global Functional Genomics Market (By Product), 2022-2033

7 Global Functional Genomics Market (By Technology), 2022-2033

8 Global Functional Genomics Market (by Application), 2022-2033

9 Global Functional Genomics Market (by End User), 2022-2033

10 Global Functional Genomics Market (By Region), 2022-2033

11 Company Profiles

List of Tables

List of Figures

Market Report Coverage

How can this report add value to an organization?

Functional Genomics Industry and Technology Overview

$5500

Functional Genomics Market - A Global and Regional Analysis

Frequently Asked Questions

Q: What is functional genomics?

Q: What are the key trends in functional genomics?

Q: What kinds of new strategies are being adopted by the existing market players to strengthen their market position in the industry?

Q: For a new company looking to enter the functional genomics market, which areas could it focus on to stay ahead of the competition?

Q: What is the USP of this report?

Q: Who should buy this report?

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