Genomics Market Analysis and Forecast by Size, Share, Growth, Trends 2031

Genomics Market Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Technology (Sequencing, Microarray, PCR, Nucleic Acid Extraction and Purification, and Others), Product & Service (Instruments/Systems, Consumables, and Services), Application (Diagnostics, Drug Discovery and Development, Precision/Personalized Medicine, Agriculture & Animal Research, and Others) and End User (Research Centers, Hospitals and Clinics, Pharmaceutical & Biotechnology Companies, and Others), and Geography

  • Report Code : TIPTE100000730
  • Category : Biotechnology
  • No. of Pages : 150

Genomics Market Trends, Size, Analysis, Top Players 2021-2031

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The Genomics Market size is projected to reach US$ 83.61 billion by 2031 from US$ 31.22 billion in 2023. The market is expected to register a CAGR of 13.1% in 2023–2031. Development of novel technologies in genomics and the use of artificial intelligence are likely to remain key genomics Market trends.

Genomics Market Analysis

Genomics is a field of molecular biology that studies the structure, function, evolution, and mapping of human genomes. It has various applications across fields such as personalized medicine, disease risk prediction, drug interaction studies, environmental microorganism exploration, biofuel generation, genealogical assessments, forensic science, and agriculture. Growing investments & funding in the field of genomics, an increasing number of start-ups is expected to favor the genomics market growth.

Genomics Market Overview

As highlighted by the Genomics Nation Report published in 2022 by the UK Bioindustry Association, companies in the field of genomics have raised a total of £1.85 (US$ 1.98) billion in venture investment, between 2017 and 2021. Out of which 39.2% of the funding was raised in 2021 alone. Specifically, genomic companies raised £718 (US$ 770.23) million in venture investment across 53 deals in 2021, which includes companies that exited during this period. Growing emphasis on research and development activities is contributing to the expansion of the genomics market.

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Genomics Market: Strategic Insights

Genomics Market
  • CAGR
    CAGR (2023 - 2031)
    13.1%
  • Market Size 2023
    US$ 31.22 Billion
  • Market Size 2031
    US$ 83.61 Billion

Market Dynamics

GROWTH DRIVERS
  • Growing Investments and Fundings
FUTURE TRENDS
  • Deployement of Artificial Intelligence
OPPORTUNITIES
  • Development of Novel Genomic Technologies

Key Players

  • Illumina Inc
  • Danaher
  • F HOFFMANN LA ROCHE LTD
  • BIO RAD LABORATORIES INC
  • General Electric Company
  • Thermo Fisher Scientific Inc
  • Agilent Technologies Inc
  • Eurofins Scientific
  • QIAGEN
  • BGI

Regional Overview

Regional Overview
  • North America
  • Europe
  • Asia-Pacific
  • South and Central America
  • Middle East and Africa

Market Segmentation

Market SegmentTechnology
  • Sequencing
  • Microarray
  • PCR
  • Nucleic Acid Extraction and Purification
  • Others
Market SegmentProduct & Service
  • Instruments/Systems
  • Consumables
  • Services
Market SegmentApplication
  • Diagnostics
  • Drug Discovery and Development
  • Precision/Personalized Medicine
  • Agriculture & Animal Research
  • Others
Market SegmentEnd User
  • Research Centers
  • Hospitals and Clinics
  • Pharmaceutical & Biotechnology Companies
  • Others
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

GENOMICS Market Drivers and Opportunities

Cost Efficacy of Genome Sequencing Procedures to Favor Market

In recent years, next-generation sequencing prices have declined substantially. The rapid costs reduction helps in clinical research with a greater speed and at a lowered price point. This is likely to be enticing to help startups for the health of consumers. According to an article published in Frontiers in January 2022, a study observed a cohort of 6 neonatal intensive care unit (NICU) patients in the US diagnosed by rapid whole genome sequencing (rWGS) and showed a reduction in length of hospital stay by 124 days resulting in a combined inpatient cost savings of US$ 803,200 (~ $19,000 per infant).

Artificial Intelligence – An Opportunity in Personalized Medicine

The field of genomics has been transformed by the use of artificial intelligence. These technologies are assisting researchers and scientists in analyzing and interpreting vast amounts of genomic data. As a result, new discoveries are being made, and personalized medicine is advancing. AI-powered solutions for clinical genomics applications, such as genomic diagnostics, prognostics, and therapeutics, are transforming healthcare. AI and genomics are being utilized to detect genetic mutations and biomarkers linked to particular illnesses, allowing for the creation of personalized treatment strategies for patients.

Genomics Market Report Segmentation Analysis

Key segments that contributed to the derivation of the genomics market analysis are technology, product & service, application, and end user.

  • Based on technology, the genomics market is divided into sequencing, microarray, PCR, nucleic acid extraction and purification, and others. The sequencing segment held a larger market share in 2023.
  • By product & service, the market is segmented into instruments/systems, consumables, and services. The instruments/systems segment held the largest share of the market in 2023.
  • In terms of application, the market is divided into diagnostics, drug discovery and development, precision/personalized medicine, agriculture & animal research, and others. The diagnostics segment dominated the market in 2023.

GENOMICS Market Share Analysis by Geography

The geographic scope of the genomics market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.

North America has dominated the genomics market. Factors such as the increasing incorporation of advanced sequencing methods in healthcare, extensive R&D activities by various academic and research institutes, and growing demand for DNA synthesis techniques from biopharmaceutical and biotechnology companies drive the growth of the genomics market in North America. Moreover, rising initiatives and fundings by the government for genome sequencing in precision medicine is further expected to stimulate market growth and contribute to exceptional revenue generation. Asia Pacific is anticipated to grow with the highest CAGR in the coming years.  

Genomics Market Report Scope

Report Attribute Details
Market size in 2023 US$ 31.22 Billion
Market Size by 2031 US$ 83.61 Billion
Global CAGR (2023 - 2031) 13.1%
Historical Data 2021-2022
Forecast period 2024-2031
Segments Covered By Technology
  • Sequencing
  • Microarray
  • PCR
  • Nucleic Acid Extraction and Purification
  • Others
By Product & Service
  • Instruments/Systems
  • Consumables
  • Services
By Application
  • Diagnostics
  • Drug Discovery and Development
  • Precision/Personalized Medicine
  • Agriculture & Animal Research
  • Others
By End User
  • Research Centers
  • Hospitals and Clinics
  • Pharmaceutical & Biotechnology Companies
  • Others
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • Illumina Inc
  • Danaher
  • F HOFFMANN LA ROCHE LTD
  • BIO RAD LABORATORIES INC
  • General Electric Company
  • Thermo Fisher Scientific Inc
  • Agilent Technologies Inc
  • Eurofins Scientific
  • QIAGEN
  • BGI
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

Genomics Market News and Recent Developments

The genomics market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the Genomics market:

  • Illumina, Inc. and Sequoia Capital China partnered to catalyze the startup ecosystem in China with the launch of the Sequoia Capital China Intelligent Healthcare Genomics Incubator. The company creation engine focused on building life sciences startup companies advancing breakthrough applications in genomics. (Source: Illumina, Inc, Company Website, 2021)
  • Agilent Technologies introduced the SureSelect DNA Kit which addresses key challenges that laboratories encounter when preparing DNA sequencing libraries for their research. (Source: Agilent Technologies, Press Release, 2020)

Genomics Market Report Coverage and Deliverables

The “Genomics Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

  • Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
  • Market dynamics such as drivers, restraints, and key opportunities
  • Key future trends
  • Detailed PEST/Porter’s Five Forces and SWOT analysis
  • Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
  • Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
  • Detailed company profiles
Report Coverage

Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered

Segment Covered

Technology, Product & Service, Application and End User

Regional Scope

Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope

Country Scope

Argentina, Australia, Brazil, Canada, China, Estonia, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, Singapore, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States

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