The global genomic data analysis and interpretation market accounted for USD 1.11 billion in 2023 and is expected to reach USD 3.26 billion by 2034 with a CAGR of 10.28% during the forecast period 2024-2034. Growing applications of Next-Generation Sequencing (NGS) in cancer research, rising incidence and prevalence of chronic diseases, growing government funding for genomics initiatives, and growing uses of genomics in personalized medicine will propel the market expansion.
Personalized medicine is a medical strategy that considers the distinct genetic composition of each patient. The ability to discover genetic variants that may raise a person's risk of contracting specific diseases makes genomic data analysis crucial for customized medicine. For instance, Illumina launched the VeriSeqTM NIPT system v2, an improved non-invasive prenatal testing (NIPT) system, in January 2024.
By product, the services segment accounted for the highest revenue-grossing segment in the global genomic data analysis and interpretation market in 2023 and is predicted to grow at the fastest CAGR during the forecast period owing to the increasing demand for specialized bioinformatics services, expansion of genomic research initiatives, and rising adoption of cloud-based analysis platforms. For instance, Thermo Fisher Scientific announced in February 2023 that it would acquire Mesa Biotech, Inc., a molecular diagnostic company, to increase its capabilities in testing based on PCR.
By application, the tertiary workflow division segment accounted for the highest revenue-grossing segment in the global genomic data analysis and interpretation market in 2023 owing to the growing adoption of advanced sequencing technologies, increasing focus on precision medicine, and rising demand for comprehensive genomic data analysis solutions. For instance, Qiagen announced in October 2023 the release of the automated sample preparation system QIAcube Connect MDx, which is intended for molecular diagnostic applications. Additionally, the biomarker discovery segment is predicted to grow at the fastest CAGR during the forecast period owing to the expanding applications in drug development, the rising prevalence of chronic diseases, and the growing emphasis on personalized medicine approaches.
By end-user, the academic institutes and research centers segment accounted for the highest revenue-grossing segment in the global genomic data analysis and interpretation market in 2023 owing to the increasing genomic research funding, collaborations with industry partners, and demand for cutting-edge bioinformatics tools for genomic analysis. For instance, in December 2023, NanoString Technologies, Inc. - a company that offers life science tools for molecular diagnostics and translational research - was acquired by Agilent Technologies. Additionally, the pharmaceutical and biotechnology company segment is predicted to grow at the fastest CAGR during the forecast period owing to the expanding applications of genomics in drug discovery, personalized medicine initiatives, and growing investments in precision medicine research.
North American region is anticipated to have the highest revenue share during the forecast period owing to the presence of key market players, robust healthcare infrastructure, and significant government funding for genomic research initiatives. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to the increasing adoption of genomic technologies, rising healthcare expenditure, and growing emphasis on precision medicine initiatives. For instance, PerkinElmer announced in November 2023 that the non-invasive prenatal testing (NIPT) solution, the Vanadis® NIPT System, would be available in Europe.
This extensive research report concentrates on the size and projections of the global and regional markets from 2023 to 2034.
Personalized medicine is a medical strategy that considers the distinct genetic composition of each patient. The ability to discover genetic variants that may raise a person's risk of contracting specific diseases makes genomic data analysis crucial for customized medicine. For instance, Illumina launched the VeriSeqTM NIPT system v2, an improved non-invasive prenatal testing (NIPT) system, in January 2024.
By product, the services segment accounted for the highest revenue-grossing segment in the global genomic data analysis and interpretation market in 2023 and is predicted to grow at the fastest CAGR during the forecast period owing to the increasing demand for specialized bioinformatics services, expansion of genomic research initiatives, and rising adoption of cloud-based analysis platforms. For instance, Thermo Fisher Scientific announced in February 2023 that it would acquire Mesa Biotech, Inc., a molecular diagnostic company, to increase its capabilities in testing based on PCR.
By application, the tertiary workflow division segment accounted for the highest revenue-grossing segment in the global genomic data analysis and interpretation market in 2023 owing to the growing adoption of advanced sequencing technologies, increasing focus on precision medicine, and rising demand for comprehensive genomic data analysis solutions. For instance, Qiagen announced in October 2023 the release of the automated sample preparation system QIAcube Connect MDx, which is intended for molecular diagnostic applications. Additionally, the biomarker discovery segment is predicted to grow at the fastest CAGR during the forecast period owing to the expanding applications in drug development, the rising prevalence of chronic diseases, and the growing emphasis on personalized medicine approaches.
By end-user, the academic institutes and research centers segment accounted for the highest revenue-grossing segment in the global genomic data analysis and interpretation market in 2023 owing to the increasing genomic research funding, collaborations with industry partners, and demand for cutting-edge bioinformatics tools for genomic analysis. For instance, in December 2023, NanoString Technologies, Inc. - a company that offers life science tools for molecular diagnostics and translational research - was acquired by Agilent Technologies. Additionally, the pharmaceutical and biotechnology company segment is predicted to grow at the fastest CAGR during the forecast period owing to the expanding applications of genomics in drug discovery, personalized medicine initiatives, and growing investments in precision medicine research.
North American region is anticipated to have the highest revenue share during the forecast period owing to the presence of key market players, robust healthcare infrastructure, and significant government funding for genomic research initiatives. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to the increasing adoption of genomic technologies, rising healthcare expenditure, and growing emphasis on precision medicine initiatives. For instance, PerkinElmer announced in November 2023 that the non-invasive prenatal testing (NIPT) solution, the Vanadis® NIPT System, would be available in Europe.
This extensive research report concentrates on the size and projections of the global and regional markets from 2023 to 2034.
Report Scope:
- Base Year: 2023
- Forecast Period: 2024-2034
- Study Coverage
- Market Forecast by Product, Application, and End-User
- Market Forecast for 5 Regions and 17+ Countries
- North America (U.S. and Canada)
- Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
- Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC)
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM)
- MEA (South Africa, GCC, Rest of MEA)
- Exhaustive Company Profiles of the Top 10+ Major Market Players
Segmentation: Genomic Data Analysis and Interpretation Market Report 2023 - 2034
Genomic Data Analysis and Interpretation Market Analysis & Forecast by Product 2023 - 2034 (Revenue USD Bn)
- Products
- Instruments/Systems/Software
- Consumables & Reagents
- Services
- NGS-based Services
- Core Genomics Services
- Biomarker Translation Services
- Computational Services
- Functional Genomics
- Real-time PCR
- Transfection
- SNP Analysis
- Mutational Analysis
- Microarray Analysis
- RNA Interference
- Pathway Analysis
- Bead-based Analysis
- Proteomics Tools
- Biomarker Discovery
- DNA Sequencing
- Chromatin Immunoprecipitation (ChIP & ChIP-Seq)
- Methylated DNA Immunoprecipitation (MeDIP)
- High-Resolution Melt (HRM)
- Chromatin Accessibility Assays
Genomic Data Analysis and Interpretation Market Analysis & Forecast by End-User 2023 - 2034 (Revenue USD Bn)
- Pharmaceutical and Biotechnology Companies
- Hospitals and Clinics
- Academic and Government Institutes
Genomic Data Analysis and Interpretation Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Genomic Data Analysis and Interpretation Market: Product Estimates & Trend Analysis
8. Genomic Data Analysis and Interpretation Market: Application Estimates & Trend Analysis
9. Genomic Data Analysis and Interpretation Market: End-User Estimates & Trend Analysis
10. Regional Market Analysis
11. North America Genomic Data Analysis and Interpretation Market
12. Europe Global Genomic Data Analysis and Interpretation Market
13. Asia Pacific Global Genomic Data Analysis and Interpretation Market
14. Latin America Global Genomic Data Analysis and Interpretation Market
15. MEA Global Genomic Data Analysis and Interpretation Market
16. Competitor Analysis
17. Company Profiles
Companies Mentioned
- Illumina Inc.
- Thermo Fisher Scientific Inc.
- Qiagen N.V.
- Agilent Technologies Inc.
- BGI Genomics Co. Ltd.
- PerkinElmer Inc.
- F. Hoffmann-La Roche Ltd.
- Oxford Nanopore Technologies Ltd.
- Pacific Biosciences of California Inc.
- Bio-Rad Laboratories Inc.
- GENEWIZ Inc.
- Eurofins Scientific SE
- Partek Incorporated
- DNAnexus Inc.
- Fabric Genomics Inc.
