What is the present valuation and projected CAGR of the genomics market?
The genomics market size has grown rapidly in recent years. It will grow from $45.47 billion in 2024 to $53.92 billion in 2025 at a compound annual growth rate (CAGR) of 18.6%. The growth in the historic period can be attributed to reduction in sequencing costs, research and discovery, healthcare applications, personalized medicine.
The genomics market size is expected to see exponential growth in the next few years. It will grow to $112.78 billion in 2029 at a compound annual growth rate (CAGR) of 20.3%. The growth in the forecast period can be attributed to growing awareness and education, drug development and therapeutics, diagnostic applications, regulatory and ethical frameworks. Major trends in the forecast period include technological advancements, genomic sequencing in agriculture, collaboration and partnerships, genomic data analytics.
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What key drivers have fueled the genomics market’s development over the years?
Rising government funds for research on genomics drives the growth of the single-cell genomics market. The government funding focuses on efforts to resolve the complexity of the human genome, define the genomic basis of human health and disease, and ensure that genomics is used safely to enhance patient care and benefit society through government, public and private institutions. For instance, in December 2022, according to the GOV.UK, a UK-based government services and information provider, in 2022, the UK government allocated £175 ($229.83) million to enhance genomic healthcare, which includes a focus on innovative technologies that can improve diagnosis and treatment of various diseases, including cancer and rare genetic disorders.
What is the segmentation for the genomics market?
The genomics market covered in this report is segmented –
1) By Product Type: Instrument (Including Systems, Service Contract And Software), Reagents (Including Reagents And Consumables)
2) By Process: Cell Isolation, Sample Preparation, Genomic Analysis
3) By End User: Academic Institutes, Biopharmaceutical Companies, Clinical Research Institutes
Subsegments:
1) By Instrument: Systems, Service Contracts, Software
2) By Reagents: Kits, Consumables
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Who are the most influential companies in the genomics market?
Major companies operating in the genomics market include 10X Genomics Inc., Qiagen NV, Standard BioTools Inc., Johnson and Johnson, Illumina Inc., Affymetrix Inc., Angle plc, Denovo Sciences Inc., Diagnologix LLC, DNA Electronics Ltd., Epic Sciences, Kellbenx Inc., Resolution Bioscience Inc., Wafergen Bio-systems Inc., Yikon Genomics Co. Ltd., Thermo Fisher Scientific Inc., Beckman Coulter Inc., Becton, Dickinson and Company, Bio-Rad Laboratories Inc., Carl Zeiss Microscopy GmbH, Cell Microsystems Inc., CellSorter, CYTENA GmbH, Dolomite Bio Limited, Agilent Technologies Inc., Fluxion Biosciences Inc., BGI Group, F. Hoffmann-La Roche AG, Oxford Nanopore Technologies Ltd., Pacific Biosciences of California Inc., Eurofins Scientific SE, Danaher Corporation, PerkinElmer Inc.
How will emerging trends drive the genomics market throughout the forecast period?
Major companies operating in the genomics market are focused on technological advancements such as long read technology to enhance genome sequencing accuracy, enable the analysis of larger and more complex genetic regions, and provide deeper insights into genetic variations that were previously difficult to detect. Long read technology in genomics involves sequencing longer DNA or RNA segments for more precise and complete genetic analysis, enabling better detection of complex variations and disease-related markers. For instance, in March 2023, Illumina Inc., a US-based biotechnology company, launched Illumina’s Complete Long Read Prep. It provides an efficient, low-input solution for whole-genome sequencing, offering both long- and short-read data on the same device, with simplified workflows and fewer required materials compared to other technologies.
What are the major regional insights for the genomics market, and which region holds the top position?
North America was the largest region in the genomics market in 2023. Western Europe was the second largest region in the genomics market. The regions covered in the genomics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
What Does The Genomics Market Report 2025 Offer?
The genomics market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Genomics refers to the study of the complete set of genes (genome) within an organism, including their structure, function, evolution, and mapping. It involves analyzing the sequencing and interactions of DNA, RNA, and proteins to understand how genes regulate biological processes and contribute to traits and diseases. Genomics plays a crucial role in fields like medicine, agriculture, and biotechnology, helping to advance personalized medicine, improve crop yields, and develop targeted therapies for genetic disorders.
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