Functional Genomics Market Report 2025

The functional genomics market size has grown rapidly in recent years. It will grow from $12.96 billion in 2024 to $14.84 billion in 2025 at a compound annual growth rate (CAGR) of 14.5%. The growth in the historic period can be attributed to the increasing emphasis on gene expression studies, rising use of functional assays in drug discovery, expansion of biotech firms, development of high-throughput screening methods, and growing integration of bioinformatics in genomics research.

The functional genomics market size is expected to see rapid growth in the next few years. It will grow to $25.19 billion in 2029 at a compound annual growth rate (CAGR) of 14.2%. The growth in the forecast period can be attributed to increasing investments in precision medicine, wider adoption of multi-omics approaches, rising demand for advanced genetic testing, expanding applications of functional genomics in oncology, and greater investment in research and development. Key trends in the forecast period include advancements in single-cell sequencing technologies, development of cloud-based genomic data platforms, innovation in high-throughput functional screening methods, progress in integrating genomics with proteomics, and the emergence of personalized therapeutic approaches using functional genomics.

The growing investment in research and development is expected to drive significant growth in the functional genomics market. Research and development involve a systematic effort to create, improve, and innovate products, processes, or knowledge through investigation and experimentation. As companies aim to stay competitive, they are increasingly allocating resources toward developing new products, advancing technologies, and seizing emerging market opportunities. This surge in investment is benefiting functional genomics by advancing the identification and analysis of gene functions, thus deepening our understanding of complex biological processes and supporting the development of targeted therapeutic strategies. For example, in December 2022, the UK Department of Health and Social Care announced a £105 million investment to accelerate the diagnosis of rare genetic conditions in newborns, aiming to provide life-saving treatments. This funding will enhance research into genomic healthcare by studying patients' DNA, further propelling the growth of the functional genomics market.

Key companies in the functional genomics market are focusing on advancing technologies such as high-throughput sequencing. This method enables the rapid and simultaneous sequencing of large amounts of DNA or RNA, allowing for broad-scale genetic analysis. For instance, in February 2025, Roche, a pharmaceutical company based in Switzerland, introduced sequencing by expansion (SBX) technology, a groundbreaking next-generation sequencing method. SBX chemistry, paired with an advanced sensor module, allows ultra-fast, high-throughput sequencing that is adaptable and scalable for various applications. The innovative technique converts DNA or RNA sequences into a detectable polymer called an Xpandomer, which is fifty times longer than the original nucleic acid. This process creates strong, low-noise signals for clear detection, utilizing a CMOS-based sensor for parallel processing and achieving high-accuracy, single-molecule nanopore sequencing with impressive speed and versatility.

In November 2022, Biocare Medical, a US-based medical equipment company, acquired Empire Genomics to expand its functional genomics capabilities. The acquisition aimed to enhance Biocare’s molecular diagnostics and functional genomics expertise by integrating a portfolio of over one million biomarkers and rapid biomarker development into its existing diagnostic platforms. This move will strengthen Biocare's ability to support cancer research and personalized diagnostics. Empire Genomics, also based in the US, specializes in functional genomics and brings additional expertise to Biocare’s growing capabilities.

Major players in the functional genomics market are Hoffmann-La Roche Ltd., Thermo Fisher Scientific Inc., Merck KGaA, Becton Dickinson and Company, Agilent Technologies Inc., Illumina Inc., Perkin Elmer Inc., Revvity Inc., Exact Sciences Corporation, Bio-Rad Laboratories Inc., QIAGEN NV, Integrated DNA Technologies Inc., Promega Corporation, Pacific Biosciences of California Inc., Genomics Ltd., MEDiC LLC, Enhanc3D Genomics Ltd., Samplix, Arima Genomics Inc., Phase Genomics Inc.

North America was the largest region in the functional genomics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in functional genomics report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the functional genomics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

The sudden escalation of U.S. tariffs and the consequent trade frictions in spring 2025 are severely impacting the healthcare sector, particularly in the supply of critical medical devices, diagnostic equipment, and pharmaceuticals. Hospitals and healthcare providers are facing higher costs for imported surgical instruments, imaging equipment, and consumables such as syringes and catheters, many of which have limited domestic alternatives. These increased costs are straining healthcare budgets, leading some providers to delay equipment upgrades or pass on expenses to patients. Additionally, tariffs on raw materials and components are disrupting the production of essential drugs and devices, causing supply chain bottlenecks. In response, the industry is diversifying sourcing strategies, boosting local manufacturing where possible, and advocating for tariff exemptions on life-saving medical products.

Functional genomics is the field of study focused on how genes and other elements of the genome function and interact within an organism. Its goal is to understand the roles of genes in regulating biological processes and how they impact traits and behaviors. By analyzing patterns of gene expression and the effects of genetic variations, functional genomics uncovers the mechanisms that control cells, tissues, and entire organisms.

The main products in functional genomics are kits and assays and instruments. Kits and assays are standardized laboratory tools developed to identify, measure, or analyze specific biomolecules, genes, or proteins. It employs technologies such as next-generation sequencing (NGS), microarray analysis, CRISPR and gene editing technologies, and RNA sequencing (RNA-seq), and is utilized by various end-users, including academic and research institutes, pharmaceutical and biopharmaceutical companies, contract research organizations (CROs), clinical laboratories, and agricultural biotechnology companies.

The functional genomics market research report is one of a series of new reports that provides functional genomics market statistics, including functional genomics industry global market size, regional shares, competitors with a functional genomics market share, detailed functional genomics market segments, market trends and opportunities, and any further data you may need to thrive in the functional genomics industry. This functional genomics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The functional genomics market consists of revenues earned by entities by providing services such as gene expression profiling, epigenomic profiling, phenotypic screening, and variant effect analysis. The market value includes the value of related goods sold by the service provider or included within the service offering. The functional genomics market also includes sales of microarray scanners, thermal cyclers, fluorometers, and bioanalyzers. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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