The global genomics market is projected to reach $70.52 billion by 2031, at a CAGR of 11.1% from 2024 to 2031.
Succeeding extensive secondary and primary research and in-depth analysis of the market scenario, the report comprises the analysis of key industry drivers, restraints, challenges, and opportunities. The growth of the genomics market is driven by the rising prevalence of genetic diseases, the increasing incorporation of genomic data in clinical workflows, increasing funding and investments in genomics projects, the growing applications of genomics in the healthcare sector, rising pharmaceutical R&D expenditures, decreasing cost of sequencing, and increasing healthcare spending. However, the lack of standardized approaches in genomics and concerns over the security & privacy of genomic data restrain the growth of this market.
Moreover, the rising adoption of personalized medicines and gene therapies is expected to generate market growth opportunities. However, the shortage of skilled bioinformatics and genomics personnel and the commercialization and scaling of genomic technologies are major challenges for market stakeholders.
The report offers a competitive landscape based on an extensive assessment of the product portfolio offerings, geographic presences, and key strategic developments adopted by leading market players in the industry over four years (2020-2024). The key players operating in the global genomics market are Agilent Technologies, Inc. (U.S.), Bio-Rad Laboratories, Inc. (U.S.), Danaher Corporation (U.S.), Thermo Fisher Scientific Inc. (U.S.), Illumina, Inc. (U.S.), QIAGEN N.V. (Netherlands), Pacific Biosciences of California, Inc. (U.S.), Oxford Nanopore Technologies Plc. (U.K.), Eppendorf SE (Germany), Myriad Genetics, Inc. (U.S.), Revvity, Inc. (Formerly PerkinElmer, Inc.) (U.S.), and BGI Genomics Co. Ltd (China).
Among all the offerings studied in this report, the consumables segment is projected to register the highest CAGR during the forecast period. The highest CAGR of this segment is attributed to the increasing prevalence of genetic diseases, growing adoption of genetic testing, and recurring purchase of consumables over instruments. An increase in the prevalence of genetic disease cases has triggered the demand for genetic tests, which is driving the adoption of consumables. For instance, according to a report published by MJH Life Sciences (U.S.) in 2022, approximately 300,000 babies are born with sickle cell disease per year globally, and nearly 5% of the world's population is affected by the disease.
Among all the technologies studied in this report, in 2024, the polymerase chain reaction (PCR) segment is expected to account for the largest share of the genomics market. The increasing use of PCR in clinical diagnostics, technological advancements in PCR, collaborations for genomic research, and the use of PCR in these research studies are some of the factors contributing to the segment’s largest share. Product launches further boost this segment’s large market share. For instance, in March 2023, Bio-Rad Laboratories launched PTC Tempo 96 and PTC Tempo Deepwell Thermal Cyclers to optimize PCR applications such as sequencing, cloning, and genotyping.
Among all the applications studied in this report, in 2024, the diagnostics segment is expected to account for the largest share of the genomics market. The use of genomics in oncology, newborn screening, and hepatitis testing is contributing to the largest share of the segment. Genomics is used in newborn screening, which are laboratory tests performed on newborn babies to identify known genetic diseases. Government agencies support newborn screening to reduce the incidence of genetic disorders among newborns through early detection, diagnosis, and intervention. For instance, in December 2022, the government of the U.K. invested more than USD 110.6 million (GBP 105 million) to speed up the rare disease diagnosis in newborns. Such initiatives play a vital role in driving the segment’s largest share.
Among all the end users studied in this report, the pharmaceutical & biotechnology companies’ segment is expected to record the highest CAGR during the forecast period. The highest CAGR of the segment is attributed to the increasing research & development by pharmaceutical & biotechnology companies, the rising utilization of genomics for research processes, and an increasing number of biotechnology companies. Moreover, the rising incidence of chronic diseases has accelerated the need to expedite drug development processes, further propelling the adoption of genomics among pharmaceutical companies.
An in-depth analysis of the geographical scenario of the global genomics market provides detailed qualitative and quantitative insights into the five major geographies (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa) along with the coverage of major countries in each region. In 2024, North America is expected to account for the largest share of the genomics market. North America is home to numerous renowned research institutions, universities, and organizations dedicated to genomics research; the region has made significant contributions to cancer genomics, with rising pharmaceutical R&D expenditure and the presence of key players. For instance, R&D spending by pharmaceutical companies in Canada for drug discovery has increased, driving the demand for genomics. For instance, in 2020, total R&D expenditure in Canada’s pharmaceutical sector was estimated at between USD 1.8 billion and USD 2.4 billion, compared to USD 1.6 billion and USD 2.2 billion in 2019. Thus, the presence of research institutes, rising testing for genetic disorders, and increasing pharmaceutical R&D expenditure is supporting the largest regional share.
Note: Other technologies include cell counting, transfection, and gene editing.
Succeeding extensive secondary and primary research and in-depth analysis of the market scenario, the report comprises the analysis of key industry drivers, restraints, challenges, and opportunities. The growth of the genomics market is driven by the rising prevalence of genetic diseases, the increasing incorporation of genomic data in clinical workflows, increasing funding and investments in genomics projects, the growing applications of genomics in the healthcare sector, rising pharmaceutical R&D expenditures, decreasing cost of sequencing, and increasing healthcare spending. However, the lack of standardized approaches in genomics and concerns over the security & privacy of genomic data restrain the growth of this market.
Moreover, the rising adoption of personalized medicines and gene therapies is expected to generate market growth opportunities. However, the shortage of skilled bioinformatics and genomics personnel and the commercialization and scaling of genomic technologies are major challenges for market stakeholders.
The report offers a competitive landscape based on an extensive assessment of the product portfolio offerings, geographic presences, and key strategic developments adopted by leading market players in the industry over four years (2020-2024). The key players operating in the global genomics market are Agilent Technologies, Inc. (U.S.), Bio-Rad Laboratories, Inc. (U.S.), Danaher Corporation (U.S.), Thermo Fisher Scientific Inc. (U.S.), Illumina, Inc. (U.S.), QIAGEN N.V. (Netherlands), Pacific Biosciences of California, Inc. (U.S.), Oxford Nanopore Technologies Plc. (U.K.), Eppendorf SE (Germany), Myriad Genetics, Inc. (U.S.), Revvity, Inc. (Formerly PerkinElmer, Inc.) (U.S.), and BGI Genomics Co. Ltd (China).
Among all the offerings studied in this report, the consumables segment is projected to register the highest CAGR during the forecast period. The highest CAGR of this segment is attributed to the increasing prevalence of genetic diseases, growing adoption of genetic testing, and recurring purchase of consumables over instruments. An increase in the prevalence of genetic disease cases has triggered the demand for genetic tests, which is driving the adoption of consumables. For instance, according to a report published by MJH Life Sciences (U.S.) in 2022, approximately 300,000 babies are born with sickle cell disease per year globally, and nearly 5% of the world's population is affected by the disease.
Among all the technologies studied in this report, in 2024, the polymerase chain reaction (PCR) segment is expected to account for the largest share of the genomics market. The increasing use of PCR in clinical diagnostics, technological advancements in PCR, collaborations for genomic research, and the use of PCR in these research studies are some of the factors contributing to the segment’s largest share. Product launches further boost this segment’s large market share. For instance, in March 2023, Bio-Rad Laboratories launched PTC Tempo 96 and PTC Tempo Deepwell Thermal Cyclers to optimize PCR applications such as sequencing, cloning, and genotyping.
Among all the applications studied in this report, in 2024, the diagnostics segment is expected to account for the largest share of the genomics market. The use of genomics in oncology, newborn screening, and hepatitis testing is contributing to the largest share of the segment. Genomics is used in newborn screening, which are laboratory tests performed on newborn babies to identify known genetic diseases. Government agencies support newborn screening to reduce the incidence of genetic disorders among newborns through early detection, diagnosis, and intervention. For instance, in December 2022, the government of the U.K. invested more than USD 110.6 million (GBP 105 million) to speed up the rare disease diagnosis in newborns. Such initiatives play a vital role in driving the segment’s largest share.
Among all the end users studied in this report, the pharmaceutical & biotechnology companies’ segment is expected to record the highest CAGR during the forecast period. The highest CAGR of the segment is attributed to the increasing research & development by pharmaceutical & biotechnology companies, the rising utilization of genomics for research processes, and an increasing number of biotechnology companies. Moreover, the rising incidence of chronic diseases has accelerated the need to expedite drug development processes, further propelling the adoption of genomics among pharmaceutical companies.
An in-depth analysis of the geographical scenario of the global genomics market provides detailed qualitative and quantitative insights into the five major geographies (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa) along with the coverage of major countries in each region. In 2024, North America is expected to account for the largest share of the genomics market. North America is home to numerous renowned research institutions, universities, and organizations dedicated to genomics research; the region has made significant contributions to cancer genomics, with rising pharmaceutical R&D expenditure and the presence of key players. For instance, R&D spending by pharmaceutical companies in Canada for drug discovery has increased, driving the demand for genomics. For instance, in 2020, total R&D expenditure in Canada’s pharmaceutical sector was estimated at between USD 1.8 billion and USD 2.4 billion, compared to USD 1.6 billion and USD 2.2 billion in 2019. Thus, the presence of research institutes, rising testing for genetic disorders, and increasing pharmaceutical R&D expenditure is supporting the largest regional share.
Scope of the Report:
Genomics Market Assessment - by Offering
- Systems
- Consumables
- Software
- Services
Genomics Market Assessment - by Technology
- Polymerase Chain Reaction (PCR)
- Sequencing
- Nucleic Acid Extraction and Purification
- Microarray
- Other Technologies
Note: Other technologies include cell counting, transfection, and gene editing.
Genomics Market Assessment - by Application
- Diagnostics
- Drug Discovery & Development
- Life Sciences Research
- Other Applications
Note: Other life sciences research applications include cardiovascular research, osteoporosis, immunology, neurobiology, cellular and molecular biology, and diabetes
Note: Other applications include agriculture, forensics, and environmental.Genomics Market Assessment - by End User
- Pharmaceutical & Biotechnology Companies
- Hospitals & Clinics
- Diagnostics Laboratories
- Contract Research Organizations (CROs)
- Academic & Research Institutes
- Other End Users
Genomics Market Assessment - by Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
Table of Contents
1. Introduction
2. Research Methodology
4. Market Insights
5. Genomics Market Assessment - by Offering
6. Genomics Market Assessment - by Technology
7. Genomics Market Assessment - by Application
8. Genomics Market Assessment - by End User
9. Genomics Market Assessment - by Geography
10. Competition Analysis
11. Company Profiles (Company Overview, Financial Snapshot, Product Portfolio, and Strategic Developments)
12. Appendix
List of Tables
List of Figures
Executive Summary
The genomics market is projected to reach $70.52 billion by 2031, at a CAGR of 11.1% during the forecast period. The growth of the genomics market is driven by the rising prevalence of genetic diseases, the increasing incorporation of genomic data in clinical workflows, increasing funding and investments in genomics projects, the growing applications of genomics in the healthcare sector, rising pharmaceutical R&D expenditures, decreasing costs of sequencing, and increasing healthcare spending. However, the lack of standardized approaches in genomics and concerns over the security & privacy of genomic data restrain the growth of this market.Moreover, the rising adoption of personalized medicines and gene therapies is expected to generate market growth opportunities. However, the shortage of skilled bioinformatics and genomics personnel and the commercialization and scaling of genomic technologies are major challenges for market stakeholders.
Key Plyears
The key players operating in the global genomics market are Agilent Technologies, Inc. (U.S.), Bio-Rad Laboratories, Inc. (U.S.), Danaher Corporation (U.S.), Thermo Fisher Scientific Inc. (U.S.), Illumina, Inc. (U.S.), QIAGEN N.V. (Netherlands), Pacific Biosciences of California, Inc. (U.S.), Oxford Nanopore Technologies Plc. (U.K.), Eppendorf SE (Germany), Myriad Genetics, Inc. (U.S.), Revvity, Inc. (Formerly PerkinElmer, Inc.) (U.S.), and BGI Genomics Co. Ltd (China).Genomics market: Future Outlook
The global genomics market is segmented by Offering (Systems, Consumables, Software, and Services), Technology (Polymerase Chain Reaction (PCR), Sequencing [Next Generation Sequencing (NGS) and Other Sequencing Technologies], Nucleic Acid Extraction and Purification, Microarray and Other Technologies), Application (Diagnostics, Drug Discovery & Development, Life Science Research [Cancer Research, Stem Cell Research, and Other Life Science Research], and Other Applications), End User (Pharmaceutical & Biotechnology Companies, Hospitals & Clinics, Diagnostic Laboratories, Contract Research Organizations (CROs), Academic & Research Institutes, and Other End Users) and Geography. The study also evaluates industry competitors and analyzes their market shares at the global and regional levels.Based on offering, the genomics market is segmented into systems, consumables, software, and services. In 2024, the consumables segment is expected to account for the largest share of the market. The large market share of this segment is attributed to increased demand for consumables for next-generation sequencing and a rise in genetic research. As genomic research grows, the demand for consumables is further expected to rise, driving the market’s growth.
Based on technology, the genomics market is segmented into sequencing, microarray, PCR, nucleic acid extraction and purification, and other technologies. The sequencing segment is expected to register the highest CAGR during the forecast period. The factors contributing to the segment’s highest CAGR are technological advancements in sequencing, improvements in the efficiency of sequencing processes, and the increased scalability of sequencing technologies. Moreover, key players are implementing various growth strategies, such as product launches, approvals, and acquisitions, contributing to the market’s growth. For instance, in August 2022, Bio-Rad Laboratories acquired Curiosity Diagnostics, Sp. Z. o. o. (Poland) for the development of a new generation of rapid PCR systems to market.
Based on application, the genomics market is segmented into drug discovery & development, diagnostics, life science research, and other applications. The drug discovery & development segment is expected to register the highest CAGR during the forecast period. The growth of this segment can be attributed to the high prevalence of chronic diseases such as diabetes and cancer and the increased need for discovering effective drug therapies against diseases.
Based on end user, the genomics market is segmented into pharmaceutical & biotechnology companies, hospitals & clinics, academic & research institutes, diagnostic laboratories, CROs, and other end users. In 2024, the pharmaceutical & biotechnology companies segment is expected to account for the largest share of the market. The large market share of this segment is attributed to the use of genomics in targeted drug development, biomarker discovery, personalized medicine, and data analysis. Additionally, genomics is widely used in research activities by pharmaceutical and biotechnology companies as it helps identify new drug targets, improve patient outcomes, and develop more effective therapies. NGS and other genomic analysis technologies help biotech and pharmaceutical researchers better understand genetic variants related to several diseases.
Geographic Review
This research report analyzes major geographies and provides a comprehensive analysis of North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, and the Rest of Europe), Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and Middle East & Africa. In 2024, North America is expected to hold the largest share of the global genomics market due to significant R&D investments, an advanced healthcare system, the presence of prominent market players, and a surge in the adoption of new technologies.Key questions answered in the report-
- Which are the high-growth market segments in terms of offering, technology, application, end user, and country/region?
- What was the historical market for genomics across the globe?
- What are the market forecasts and estimates for the period 2024-2031?
- What are the major drivers, restraints, challenges, opportunities, and trends in the global genomics market?
- Who are the major players in the global genomics market?
- What is the competitive landscape like, and who are the market leaders in the global genomics market?
- What are the recent developments in the genomics market?
- What are the different strategies adopted by the major players in the genomics market?
- What are the geographical trends and high-growth regions/countries?
Companies Mentioned
- Agilent Technologies Inc. (U.S.)
- Bio-Rad Laboratories Inc. (U.S.)
- Danaher Corporation (U.S.)
- Thermo Fisher Scientific Inc. (U.S.)
- Illumina Inc. (U.S.)
- QIAGEN N.V. (Netherlands)
- Pacific Biosciences of California Inc. (U.S.)
- Oxford Nanopore Technologies Plc. (U.K.)
- Eppendorf SE (Germany)
- Myriad Genetics Inc. (U.S.)
- Revvity Inc. (Formerly PerkinElmer Inc.) (U.S.)
- BGI Genomics Co. Ltd (China)
