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GENOMICS MARKET SOARING IN THE NEXT DECADE
Genomics
is quietly transforming the pharmaceutical industry. Companies are moving from drug discovery and development based on
medicinal chemistry to designing and
developing drugs based on information provided by
genomics. Virtually all the major pharmaceutical houses have formed partnerships
with genomics firms that began to emerge in the early 1990s or have created
genomics divisions in-house. As little as two years ago, there were only dozen or so firms in
the genomics industry. In 1999, there were estimated to be more than 200 companies
worldwide that list genomics as one of
their businesses.
According to a soon-to-be-released BUSINESS COMMUNICATIONS CO., INC. study
RB-142 The Genomics Revolution, the market
for genomics-based products and services was estimated at $2.2 billion in 1999. Growing at an
average growth rate of 30.1% during the 5-year forecast period, this market is expected to reach
$8.2 billion by 2004.
Of the two applications markets for genomics-based
products and services, the research sector--which in 1999 comprised gene sequencing,
polymorphism analysis and gene expression--represented the greater part of the market. It will grow at an
AAGR of 27.2% over the next five years and is expected to total $3.7 billion by 2004.
However, the applied sector--which in 1999
comprised viral genotyping, diagnostics and disease management--will begin to overtake the research
market and is projected to reach approximately
$4.5 billion and represent about 55% of the total
market in 2004. This market is growing at an outstanding rate of 33.2% on average in the next
five years.
Genomics allows greater efficiency in identifying
therapeutic targets by determining which genes are responsible for the creation or enabling of
disease processes, how these genes control these
processes and what might be done to stop them.
Products provided by genomics firms include not only databases but specialized software to search
the databases. Besides databases, another
genomics product is the DNA (deoxyribonucleic acid)
biochip (also called the DNA microassay or DNA chip) which is able to analyze hundreds of
samples simultaneously with nucleic acid probes
placed on glass wafer.
APPLICATION MARKETS FOR GENOMIC-BASED PRODUCTS
AND SERVICES,
1999-2004
($ Millions)
| |
1999 |
2004 |
AAGR %
1999-2004 |
| Research |
1,120 |
3,720 |
27.2 |
| Applied |
1,063 |
4,440 |
33.2 |
| Total |
2,183 |
8,160 |
30.1 |
RB-142 The Genomics Revolution
Published: April 2000
Data and analysis provided courtesy of
BUSINESS COMMUNICATIONS COMPANY, INC., 25 Van Zant Street, Norwalk, CT
06855, Telephone: (203) 853-4266; ext. 309, Email: publisher@bccresearch.com |
