Genomics Boom Continues

A new report estimates that the genomics research tools market will be worth nearly $9 billion by 2016.

Jef Akst
Jef Akst

Jef (an unusual nickname for Jennifer) got her master’s degree from Indiana University in April 2009 studying the mating behavior of seahorses. After four years of diving off the Gulf...

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Apr 16, 2012

ISTOCK, ALENGO

Los Angeles-based market-analysis company DeciBio predicts that the global genomics life science research tools market will grow some 6 percent over the next 5 years, reaching $8.9 billion by 2016, reported GenomeWeb Daily News. Part of this rise will be supported by the grown of the next-generation sequencing market, which DeciBio estimated to increase by 16 percent annually, reaching $2.25 billion by 2016, according to a new report published last week (April 12).

Genomics "is expected to be the fastest growing segment in the life science research tools space," Stéphane Budel, a partner in DeciBio, told GenomeWeb.

The report noted how technological advancements had driven down the price of genome sequencing from $3 billion a decade ago to just $3,000 today. In the future, such technologies will be applied more and more in a clinical setting, looking for disease-causing mutations in cancer biopsies, for example.

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