Consumer Insights
Uncover trends and behaviors shaping consumer choices today
Procurement Insights
Optimize your sourcing strategy with key market data
Industry Stats
Stay ahead with the latest trends and market analysis.
Base Year
Historical Year
Forecast Year
The global genomics market size was valued at USD 38.1 billion in 2023, driven by increased funding for genomic projects and the prevalence of chronic diseases across the globe. The market is expected to grow at a CAGR of 15.6% during the forecast period of 2024-2032, with the values likely to rise from USD 44 billion in 2024 to USD 140.1 billion by 2032.
Read more about this report - REQUEST FREE SAMPLE COPY IN PDF
Genomics attempts to understand the genetic makeup of an organism and the downstream biological products. This branch of biology has emerged as the most impactful industry trend to treat and prevent diseases. The market demand is driven by multiple factors such as the increased demand for personalized medicine, gene therapy, and the prevalence of chronic diseases like cancer. A study published in Nature Medicine in January 2024 revealed that integrating clinical data with whole genome sequence data can pave the way for precision oncology. Consequently, it would help doctors provide customized treatment plans to patients suffering from cancer, leading to better patient outcomes.
The robust research activities have resulted in the development of a genomic data pool. This data can be utilized by physicians and biologists to find the genetic predisposition to certain diseases. It is expected that the clinical implementation of this genetic data pool will fuel the genomics market growth along with the evolution of a healthcare system that is more tailored to the patient’s needs.
Growth of Genome Editing-Based Therapeutics
The clinical application of genomics can improve the diagnostics system as well as provide personalized treatment options. The recent technological advancements in treatments, employing genomic editing holds the potential to improve the lives of many individuals. In January 2023, CAR-T cell therapy, which works by using genetically modified T cells to identify and destroy specific cancer cells, cured a 13-year-old patient suffering from leukaemia.
The surge in approvals by the regularity authorities has further amplified the genomics market share. In November 2023, the UK Medicines and Health Regulatory Authority (MHRA) approved a CRISPR-based gene therapy known as Casgevy or Exa-cel. This genome-edited cellular therapy utilizes the CRISPR/Cas9 system to produce healthy red blood cells in people with beta-thalassemia and sickle cell disease.
Increased Research Breakthroughs in Genomics
The growing research and clinical trials in the field of genomics, aided by increased funding and technological advancements have led to major research breakthroughs. In August 2023, a research article published in Nature revealed that scientists completed the sequencing of the human Y chromosome. It led to an addition of 30 million new bases in the human genome reference by end-to-end sequencing. The new research is poised to facilitate a better understanding of variation and associated diseases, offering improved therapeutic solutions to critical ailments.
Strategic Investments to Meet Genomics Market Demand
The rising investments by biotechnology firms to accelerate genomic research is expected to reflect significant implications in reshaping the market. In February 2023, Accenture Ventures made a strategic investment in Ocean Genomics, a technology and AI company based in the United States to assist biopharma companies by creating computational platforms. The investment is expected to expedite the development of personalized medicines and artificial intelligence driven drug discovery. The incorporation of technological and scientific advancements in the healthcare system is anticipated to result in improved therapeutics and diagnostics fuelling the market growth.
Read more about this report - REQUEST FREE SAMPLE COPY IN PDF
Market Breakup by Deliverables
Market Breakup by Technology
Market Breakup by Process
Market Breakup by Application
Market Breakup by End Users
Market Breakup by Region
Read more about this report - REQUEST FREE SAMPLE COPY IN PDF
In North America, the robust healthcare system and increased funding for genomic projects are pushing the market growth. The prevalence of health issues in the region such as cancer, fuels the demand for genomic research in diagnostics and personalized medicine further. As a result, several pharmaceutical companies are collaborating or forming strategic alliances to deliver improved products and services to patients.
Europe holds a significant genomics market share which can be attributed to the existence of major research institutes and healthcare companies that play a pivotal role in increasing the market size.
The growing approvals of gene therapy treatments by health authorities and the evolving preference of patients for minimally invasive treatment procedures have further aided the market growth. In January 2024, Qiagen , a multinational provider of molecular testing solutions based in Germany, received the United States Food and Drug Administration (FDA) approval for NeuMoDx CT/NG Assay employing integrated PCR-based clinical molecular testing system, NeuMoDx 96 and 288 Molecular Systems. This assay utilizing fully automated analysers is designed to provide a rapid and precise diagnosis of sexually transmitted infection (STI).
In January 2024, Veracyte, a global diagnostics company headquartered in the United States, acquired C2i Genomics, a biotechnology company based in Israel known for its minimal residual disease (MRD) tests in a USD 95 million deal. This acquisition aims to employ AI-assisted whole-genome MRD tests to expand the cancer diagnostics range. Thus, the boost in genomic research is supported by major investments in acquisitions, mergers, and expansions by the top biotechnology firms. Consequently, the genomics market value is expected to witness a surge in the forecast period.
The key features of the market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:
Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2017-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
Breakup by Deliverables |
|
Breakup by Technology |
|
Breakup by Process |
|
Breakup by Application |
|
Breakup by End Users |
|
Breakup by Region |
|
Market Dynamics |
|
Supplier Landscape |
|
Companies Covered |
|
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
Get in touch with us for a customized solution tailored to your unique requirements and save upto 35%!
The market attained a value of about USD 38.1 billion in 2023 driven by increased funding for genomic projects and the prevalence of chronic diseases across the globe.
The market is anticipated to grow at a CAGR of 15.6% during the forecast period of 2024-2032, likely to reach a market value of USD 140.1 billion by 2032.
The market demand is driven by the increasing prevalence of chronic diseases and the surge in funding and investments in research and development activities in the field of genomics.
The development in minimally invasive cancer screening-based research and growing clinical trials are some of the key trends in the genomics market. In January 2024, Veracyte, a global diagnostics company acquired an Israel-based biotechnology company, C2i Genomics, to expand its cancer diagnostics range.
Product, software and services are major deliverables.
Based on the technology type, the market is divided into sequencing, microarray, polymerase chain reaction (PCR), nucleic acid extraction, purification, and others.
It includes library preparation, and data analysis among others.
Common application areas include epigenomics, functional, biomarker discovery, pathway analysis, diagnostics, drug discovery and development, precision medicine, agriculture, animal research and others.
The various end users include government and academic institutes, clinical research centers, healthcare facilities, pharmaceutical and biotechnology companies, among others.
The major regions of the market include North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
Key players involved in the market are Eppendorf SE, Eurofins Scientific, F. Hoffmann-La, Roche Ltd, GE Healthcare, Freenome Holdings, Inc., Myriad Genetics, Oxford Nanopore Technologies, PacBio, QIAGEN, Thermo Fisher Scientific, 23andMe, FOUNDATION MEDICINE, IntegraGen, Genome Diagnostics Pvt. Ltd and Cytiva.
Purchase Full Report
Datasheet
Single User License
One User
Five User License
Five Users
Corporate License
Unlimited Users
How To Order
Our step-by-step guide will help you select, purchase, and access your reports swiftly, ensuring you get the information that drives your decisions, right when you need it.
Select License Type
Choose the right license for your needs and access rights.
Click on ‘Buy Now’
Add the report to your cart with one click and proceed to register.
Select Mode of Payment
Choose a payment option for a secure checkout. You will be redirected accordingly.
Gain insights to stay ahead and seize opportunities.
Get insights & trends for a competitive edge.
Track prices with detailed trend reports.
Analyse trade data for supply chain insights.
Leverage cost reports for smart savings
Enhance supply chain with partnerships.
Connect For More Information
Our expert team of analysts will offer full support and resolve any queries regarding the report, before and after the purchase.
Our expert team of analysts will offer full support and resolve any queries regarding the report, before and after the purchase.
We employ meticulous research methods, blending advanced analytics and expert insights to deliver accurate, actionable industry intelligence, staying ahead of competitors.
Our skilled analysts offer unparalleled competitive advantage with detailed insights on current and emerging markets, ensuring your strategic edge.
We offer an in-depth yet simplified presentation of industry insights and analysis to meet your specific requirements effectively.
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City,1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124
United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124
Share