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Genomics Market is Expected to Reach $54.4 billion | MarketsandMarkets.

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Chicago, March 28, 2023 (GLOBE NEWSWIRE) — The genomics industry is expected to continue to grow rapidly in the near future. This growth is due to the increasing demand for personalized medicine as well as advances in technology which are enabling more accurate and cost-efficient sequencing services. In addition, the development of new treatments and therapies based on genomics data is expected to further drive the growth of the industry. Further, the combination of genomic data and artificial intelligence could lead to more personalized treatments and better outcomes for patients. Finally, the increasing availability of genomic data and its use in clinical practice is expected to drive the growth of the industry in the near future.

Genomics market in terms of revenue was estimated to be worth $22.7 billion in 2020 and is poised to reach $54.4 billion by 2025, growing at a CAGR of 19.0% from 2020 to 2025 according to a latest report published by MarketsandMarkets™. The major factors driving the growth of this market include the increasing government funding to support genomics projects, the growing incidence of cancer and increasing applications of NGS in cancer research, the entry of new players and start-ups in the genomics market, and the growing application areas of genomics.

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Genomics Market Scope:

Report Coverage Details
Market Revenue in 2020 $22.7 billion
Estimated Value by 2025 $54.4 billion
Growth Rate Poised to grow at a CAGR of 19.0%
Market Size Available for 2018–2025
Forecast Period 2020–2025
Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered Product & Service, Technology, Application, End User, and Region
Geographies Covered North America, Europe, APAC and the RoW
Report Highlights Updated financial information / product portfolio of players
Key Market Opportunity Use of genomics in specialized/personalized medicine
Key Market Drivers Increasing government funding to support genomics projects

Based on product & service, the genomics market is segmented into consumables, systems & software, and services. In 2019, consumables accounted for the fastest growing segment of the genomics market during the forecast period. Consumables are used in large numbers in genomic systems, and their use will continue to increase with the growing number of genomic tests performed across the globe. This is a key factor driving the market growth.

Based on end users, the genomics market is segmented into hospitals & clinics, research centers and academic & government institutes, pharmaceutical & biotechnology companies, and other end users. In 2019, the hospitals & clinics segment accounted for the fastest growing of the market. Hospitals & clinics are shifting from traditional genomic testing methods to cost-effective and more sensitive methods, such as whole-exome sequencing, which is a major factor driving the market growth.

The genomics market in the Asia Pacific is projected to register the highest growth during the forecast period, this is mainly due to favorable government support for genomics projects, increasing awareness about newer genomics technologies such as NGS, and expansions of key players to strengthen their presence in the APAC region.

Key Market Players:

Some of the leading players operating in the genomics market are Illumina, Inc. (US), Thermo Fisher Scientific (US), QIAGEN N.V. (Netherlands), Agilent Technologies, Inc. (US), F. Hoffmann-La Roche Ltd. (Switzerland), Bio-Rad Laboratories, Inc. (US), and BGI (China).

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Hypothetic Challenges of Genomics Market in Near Future:

  • Data security and privacy concerns: As the genomics market continues to grow, there will be an increasing need to ensure data security and privacy. Due to the sensitive nature of genomic data, the potential for misuse or unauthorized access must be addressed.
  • Accessibility and affordability: Making genomic sequencing and analysis accessible and affordable for everyone is a huge challenge. Currently, the cost of sequencing and analyzing a human genome is prohibitive for most people.
  • Regulatory issues: As the genomics market expands, there will be a need to develop a regulatory framework that balances the interests of industry, government, and the public.
  • Education and training: Educating and training the public and healthcare professionals on genomics is essential for the proper use of genomics data.
  • Ethical considerations: As the genomics market grows, ethical considerations must be taken into account. This includes issues such as the use of genetic data in decision-making, genetic discrimination, and the potential misuse of genetic information.

Top 3 Use Cases of Genomics Market:

  • Diagnostics: Genomics is being increasingly used in the diagnosis of hereditary diseases, genetic disorders, and cancer. It helps in identifying a patient’s risk of developing certain diseases, determining the best possible treatment for a particular condition, identifying the cause of a particular disease, and providing better prognoses.
  • Research & Development: Genomics is being used in research and development to further understanding of various diseases and conditions. It is also used to develop personalized treatments and identify new drug targets.
  • Agriculture: Genomics is being used in the agricultural sector to improve crop yields and reduce the use of pesticides and fertilizers. It is also being used to identify and develop new crop varieties that are more resistant to environmental stressors.

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Recent Developments:

  • In 2021, Illumina (US) collaborated with Helix OpCo (US) to improve the national surveillance infrastructure in the US so as to track the emergence and prevalence of novel strains of SARS-CoV-2 with support from the CDC. Illumina’s sequencing technology and expertise and Helix’s national COVID-19 testing footprint will significantly expand the country’s existing surveillance efforts to detect and characterize emerging variants of SARS-CoV-2.
  • In 2020, BGI (China) expanded its DNA sequencing and laboratory automation products available in Latin America by signing agreements with top distributors in Brazil, Argentina, Peru, Ecuador, Colombia, and Mexico.
  • In2020, QIAGEN (Netherlands) acquired NeuMoDx Molecular (US) to strengthen its leadership position in automated molecular testing. Medium- and high-throughput NeuMoDx automation solutions based on PCR testing technology will now be integrated into QIAGEN’s portfolio
  • In 2020, Thermo Fisher Scientific (US) launched the Oncomine Myeloid Assay GX.

Related Reports:

Mass Spectrometry Market

Proteomics Market

Genome Editing Market

Protein Crystallization Market

NGS-based RNA-sequencing Market


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Wirex Executive Joins CryptoUK’s New Policy Committee

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LONDON, May 21, 2024 /PRNewswire/ — Wirex, a leading Web3 money app, is proud to announce that Chet Shah, Global Chief Risk & Compliance Officer at Wirex, has joined CryptoUK’s newly established Policy Committee.

CryptoUK, the premier trade body representing the UK’s digital asset sector, formed its new Policy Committee which brings together industry-leading experts from the legal, regulatory, and compliance sectors. The committee’s mission is to provide strategic policy guidance, advocate for regulatory clarity, and foster innovation to support the growth of the UK’s digital assets industry.
This appointment underscores Wirex’s commitment to advancing regulatory clarity and innovation in the digital asset sector.
Chet brings a wealth of experience in risk and compliance. His background covers banking, auditing, and traditional finance, as well as solid expertise in the cryptocurrency space. At Wirex, Chet has been crucial in building and improving relationships with global regulators, including the Financial Conduct Authority, and authorities in countries including Singapore, Croatia, and Italy.
Chet’s approach prioritises commercially focused compliance and risk management, ensuring that Wirex operates smoothly at the intersection of traditional finance and Web3. His ability to balance regulatory requirements with innovation has been key to Wirex’s growth and success.
Commenting on his appointment, Chet said, “My experience aligns perfectly with the committee’s goals and together, we can advocate for policies that balance regulation with growth in the digital assets space.”
About Wirex 
Wirex is a prominent UK-based digital payments platform with over 6 million customers spread across 130 countries. It offers secure accounts, making it easy for users to store, purchase, and exchange multiple currencies seamlessly. As a principal member of both Visa and Mastercard, Wirex goes beyond traditional services, embracing the evolving trends of Web3 to provide mainstream access to digital finance and wealth management.
Having processed transactions totalling $20 billion, Wirex aims to contribute to the adoption of a cashless society by facilitating straightforward transactions in various currencies worldwide. Wirex is simplifying digital payments, making it more accessible and convenient for people across the globe.
| wirexapp.com |
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Media Production Company Egg Is Coming Chooses Infortrend SAN Storage to Empower Content Creation Workflows

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TAIPEI, May 21, 2024 /PRNewswire/ — Infortrend® Technology, Inc. (TWSE: 2495), the industry-leading enterprise storage provider, today announced that Korean media production company Egg is coming is leveraging Infortrend’s storage solution for M&E – EonStor DS enterprise SAN storage to empower content creation workflows and store the growing volume of UHD videos they produce.

Egg is coming is a media content production company operating as a spin-off from the South Korean entertainment giant CJ ENM Entertainment Division, the distributor of Oscar-winning movie “Parasite”. With the renowned producer Lee Myung-han as its CEO, Egg is coming specializes in production of popular entertainment content, including drama series, broadcast programs, music videos, etc. The team has successfully produced numerous renowned series, including “Hospital Playlist” which became the ninth highest-rated Korean drama in cable television history at the time.
As the company was established, they started looking for a high-speed shared storage solution. Infortrend’s EonStor DS SAN storage came highly recommended by a major media company that has been successfully using it with Tiger Technology’s SAN file sharing solution. Trusting this recommendation, Egg is coming adopted EonStor DS for video editing application. In total, four DS 4016 appliances, expanded with four units of JB 3060L expansion enclosure, were chosen for the initial deployment of the studio’s storage system. The solution provides 1.8 PB total capacity to store ever-expanding UHD video content and enables seamless workflows for 29 simultaneous post-production processes.
“Infortrend’s SAN storage EonStor DS was recommended to us by a major media production company, and we are happy that we adopted the same solution as DS enables fast and comfortable collaboration between 29 video editors,” – said Changmin Sim, the Team Leader of the Video Editing Team at Egg is coming.
Learn more about EonStor DS
About Infortrend
Infortrend (TWSE: 2495) has been developing and manufacturing storage solutions since 1993. With a strong emphasis on in-house design, testing, and manufacturing, Infortrend storage delivers performance and scalability with the latest standards, user friendly data services, personal after-sales support, and unrivaled value. For more information, please visit www.infortrend.com
Infortrend® and EonStor® are trademarks or registered trademarks of Infortrend Technology, Inc.; other trademarks are the property of their respective owners.

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Gcore And Xsolla Announce Partnership To Drive Global Game Distribution And Faster Downloads

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Gcore’s edge network to deliver Xsolla Launcher, ensuring global reach, smoother game downloads and higher conversion rates

LUXEMBOURG, May 21, 2024 May 21, 2024 — Gcore, the global edge AI, cloud, network, and security solutions provider, announced its partnership with video game commerce company Xsolla. The alliance will enable Xsolla to provide game developers and publishers with new global distribution channels catering to gamers worldwide, regardless of their locations. With Gcore’s 180 global points of presence (PoPs), players will benefit from reduced time-to-play and smoother, more efficient game downloads.
Xsolla Launcher is a powerful tool for game development companies of all sizes to widen distribution and easily build communities. It streamlines game installation, enhances player communication, and boosts monetization, allowing developers to concentrate on creativity and business logic. By leveraging Gcore’s robust CDN, Xsolla Launcher ensures seamless, speedy game downloads for all players by efficiently fetching and caching game components and initiating rapid downloads upon player request.
“At Xsolla, we’re committed to elevating the gaming experience for developers and players globally,” said David Stelzer, President of Xsolla. “Our collaboration with Gcore’s cutting-edge CDN technology significantly narrows the gap between the game and its players by delivering assets at unparalleled speed. This integration into our new Xsolla Launcher sets the bar for high-performance service and empowers our customers to focus on what they do best: create captivating games.”
Xsolla engineers chose Gcore CDN for its global network of 180+ edge servers, ensuring uninterrupted delivery of game assets worldwide. With a network capacity exceeding 110 Tbps and connectivity to 14,000 peering partners, Gcore averts congestion and disruptions, even during major releases. Operating under strict security measures and meticulous server maintenance, Gcore guarantees exceptional availability. Additionally, Gcore’s CDN integration with its proprietary DNS services further minimizes the risk of service interruptions or outages.
“We’re thrilled to be part of Xsolla’s pioneering solution, driving the gaming industry forward,” commented Ilya Matveev, Business Development Director at Gcore. “Xsolla Launcher brings flexibility to the industry, allowing companies to implement a D2C approach – a way to monetize their existing game fan base without the burden of platform fees. Relying on the power of Gcore’s edge infrastructure, Xsolla Launcher is revolutionizing game distribution by eliminating market barriers, reducing development costs, and fostering creativity.”
Read more about the partnership via this link.
About Gcore
Gcore is a global edge AI, cloud, network, and security solutions provider. Headquartered in Luxembourg, with a staff of 600 operating from ten offices worldwide, Gcore provides solutions to global leaders in numerous industries. Gcore manages its global IT infrastructure across six continents, with one of the best network performances in Europe, Africa, and LATAM due to the average response time of 30 ms worldwide. Gcore’s network consists of 180 points of presence worldwide in reliable Tier IV and Tier III data centers, with a total capacity exceeding 110 Tbps.Website | Twitter | Facebook | LinkedIn
About Xsolla 
Xsolla is a global video game commerce company with a robust and powerful set of tools and services designed specifically for the industry. Since its founding in 2005, Xsolla has helped thousands of game developers and publishers of all sizes fund, market, launch, and monetize their games globally and across multiple platforms. As an innovative leader in game commerce, Xsolla’s mission is to solve the inherent complexities of global distribution, marketing, and monetization to help our partners reach more geographies, generate more revenue, and create relationships with gamers worldwide. Headquartered and incorporated in Los Angeles, California, with offices in London, Berlin, Beijing, Guangzhou, Seoul, Tokyo, Kuala Lumpur, Raleigh, and cities around the world, Xsolla supports major gaming titles like Valve, Epic Games, Take-Two, KRAFTON, Nexters, NetEase, Playstudios, Playrix, miHoYo, and more.
Website | Twitter | Facebook | LinkedIn
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