The global genomics market was valued at US$ 28.1 billion in 2022 and is projected to reach US$ 40.9 billion by 2030, growing at a CAGR of 13.4% from 2023-2030. The global genomics market refers to the market for technologies, products, and services related to the study and analysis of genetic information, including DNA sequencing, genotyping, gene expression analysis, and bioinformatics. This market is driven by advances in genomics research, personalized medicine, and increasing demand for precision medicine.

Some of the key players in the genomics market include Illumina, Inc., Thermo Fisher Scientific, Qiagen N.V., BGI Group, F. Hoffmann-La Roche AG, and Eurofins Scientific. The market is highly competitive, with many established players and new entrants constantly entering the market with innovative products and services.

Market Dynamics

Driving Factors

There are several driving factors contributing to the growth of the global genomics market:

Increasing Prevalence of Genetic Diseases: The prevalence of genetic diseases such as cancer, rare genetic disorders, and inherited diseases is increasing, creating a need for improved genomic analysis and testing.

Growing Awareness of Genetic Testing: Growing awareness of the benefits of genetic testing and analysis, coupled with increasing patient empowerment and involvement in their own healthcare decisions, is driving demand for genomic testing and analysis.

Government Funding: Government funding and initiatives supporting genomics research and personalized medicine are also contributing to the growth of the global genomics market.

Collaborations and Partnerships: Collaborations and partnerships between companies, academic institutions, and research organizations are driving innovation and advancing genomics research, resulting in the development of new products and services.

Restraining Factors

The global genomics market is expected to continue to grow in the coming years, there are several factors that could potentially restrain its growth:

Limited Reimbursement Policies: Limited or non-existent reimbursement policies for genomic testing and analysis can limit the adoption and use of these technologies by healthcare providers and patients.

Regulatory Hurdles: Regulatory hurdles and the lack of clear guidelines for the development and use of genomic technologies can hinder their adoption and growth in certain regions or countries.

Lack of Standardization: Lack of standardization in genomic testing and analysis methods and data interpretation can lead to inconsistencies and errors, reducing the reliability and accuracy of genomic analysis results.

Ethical Concerns: The use of genomic data raises ethical concerns around issues such as genetic discrimination, informed consent, and ownership of genetic information, which could limit the adoption and growth of genomic technologies.

Challenges Factors

The global genomics market also faces several challenges that could impact its growth and development, including:

Lack of Standardization: There is a lack of standardization in genomic testing and analysis methods and data interpretation, which can lead to inconsistencies and errors, reducing the reliability and accuracy of genomic analysis results.

Limited Reimbursement Policies: Limited or non-existent reimbursement policies for genomic testing and analysis can limit the adoption and use of these technologies by healthcare providers and patients.

High Cost of Genomic Technologies: The high cost of genomic technologies and associated products and services can make them inaccessible to many individuals and healthcare providers, limiting their adoption and use.

Regulatory Hurdles: Regulatory hurdles and the lack of clear guidelines for the development and use of genomic technologies can hinder their adoption and growth in certain regions or countries.

Limited Infrastructure: In some regions, there may be a lack of infrastructure or skilled personnel for genomic testing and analysis, limiting the adoption and use of these technologies.

Opportunity Factors

The global genomics market presents several opportunities for growth and expansion, including:

Development of New Applications: The development of new applications for genomics technologies, such as gene editing and gene therapy, presents significant growth opportunities for companies in the genomics market.

Increasing Investment in Genomics Research: Increasing investment in genomics research, particularly by government and academic institutions, is expected to drive innovation and advance the development of new genomics products and services.

Growing Demand for Direct-to-Consumer (DTC) Genomics: The growing popularity of DTC genomics, which allows individuals to access and analyze their own genetic data, presents significant growth opportunities for companies offering DTC genomics products and services.

Collaborations and Partnerships: Collaborations and partnerships between companies, academic institutions, and research organizations present opportunities for the development of new products and services, as well as expansion into new markets and regions.

Segmentation Analysis

Technology Type Outlook

Genomic sequencing is a key technology in the genomics market, allowing researchers and clinicians to study the DNA sequence of individuals, populations, and species. The market for sequencing technologies is expected to continue to grow, driven by the increasing demand for personalized medicine, precision agriculture, and conservation genomics.

Gene editing technologies, such as CRISPR/Cas9, allow researchers to modify the DNA sequence of an organism. The gene editing market is expected to continue to grow, driven by the increasing demand for therapeutic applications in fields such as gene therapy, cell therapy, and regenerative medicine. Other technologies in the genomics market include bioinformatics, synthetic biology, and single-cell genomics. These technologies are expected to continue to grow, driven by the increasing demand for computational tools, synthetic biology applications, and single-cell analysis capabilities.

End User Outlook

Genomics companies also offer a range of software tools, including data analysis software, genotyping software, and bioinformatics software. The software segment is expected to continue to grow, driven by the increasing demand for computational tools in genomics research and clinical applications.

Genomics companies also offer a range of consumables, including reagents, chemicals, and lab supplies. The consumables segment is expected to continue to grow, driven by the increasing demand for genomic technologies in research and clinical applications. Other deliverables in the genomics market include diagnostics and therapeutics, such as gene therapies, cell therapies, and vaccines. These deliverables are expected to continue to grow, driven by the increasing demand for personalized medicine and precision therapeutics.

The genomics market is expected to continue to offer a diverse range of products and services, driven by the increasing demand for genomic technologies in research and clinical applications. Companies that can offer differentiated products and services that meet the evolving needs of customers are likely to be successful in this market.

Regional Analysis

North America is the largest market for genomics products and services, driven by factors such as the presence of key market players, increasing investments in genomics research, and growing demand for personalized medicine. The United States is the largest contributor to the North American genomics market.

The Middle East & Africa region is a growing market for genomics products and services, driven by increasing investments in genomics research and growing demand for personalized medicine. South Africa and Saudi Arabia are the largest contributors to the Middle East & Africa genomics market.

The genomics market is expected to grow across all regions due to increasing investments in genomics research, rising demand for personalized medicine, and growing awareness about genetic testing and analysis. However, regional differences in infrastructure, government policies, and cultural attitudes towards genomic data may impact the growth and adoption of genomics technologies in each region.

Scope Of Report:

The Global Genomics Market has been segmented into:

By Application & Technology

• Functional Genomics
• Transfection
• Real-Time PCR
• RNA Interference
• Mutational Analysis
• SNP Analysis
• Microarray Analysis
• Epigenomics
• Bisulfite Sequencing
• Chromatin Immunoprecipitation (ChIP & ChIP-Seq)
• Methylated DNA Immunoprecipitation (MeDIP)
• High-Resolution Melt (HRM)
• Chromatin Accessibility Assays
• Microarray Analysis
• Pathway Analysis
• Bead-Based Analysis
• Microarray Analysis
• Real-time PCR

By Proteomics Tools (2-D PAGE; yeast 2-hybrid studies)

• Biomarker Discovery
• Mass Spectrometry
• Real-time PCR
• Microarray Analysis
• Statistical Analysis
• Bioinformatics
• DNA Sequencing
• Others

By Deliverables

Products

• Instruments/Systems/Software
• Consumables & Reagents

Services

• NGS-based Services
• Core Genomics Services
• Biomarker Translation Services
• Computational Services
• Others

By End-use

• Clinical Research
• Academic & Government Institutes
• Hospitals & Clinics
• Pharmaceutical & Biotechnology Companies
• Other End Users

By Region

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
  • Germany
  • France
  • Italy
  • Spain
  • UK
  • Nordic Countries
    • Denmark
    • Finland
    • Iceland
    • Sweden
    • Norway
  • Benelux Union
    • Belgium
    • The Netherlands
    • Luxembourg
  • Rest of Europe
• Asia-Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
  • Southeast Asia
    • Indonesia
    • Thailand
    • Malaysia
    • Singapore
    • Rest of Southeast Asia
• Rest of Asia-Pacific
• The Middle East & Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of the Middle East & Africa
• Latin America
• Brazil
• Argentina
• Rest of Latin America

Market Players 

The global genomics market is highly competitive and fragmented, with numerous players vying for market share. Some of the key companies in the market are:

• Agilent Technologies
• Bio-Rad Laboratories, Inc.
• BGI Genomics
• Color Genomics, Inc.
• Danaher Corporation
• Eppendorf AG
• Eurofins Scientific
• F. Hoffmann-La Roche Ltd.
• GE Healthcare
• Illumina, Inc.
• Myriad Genetics, Inc.
• Oxford Nanopore Technologies
• Pacific Biosciences of California, Inc.
• QIAGEN N.V.
• Quest Diagnostics Incorporated
• Thermo Fisher Scientific, Inc.
• 23andMe, Inc.

Illumina acquires GRAIL: In September 2020, Illumina, Inc. announced the acquisition of GRAIL, Inc., a company focused on developing blood tests for early cancer detection, for $8 billion. The acquisition is expected to strengthen Illumina's position in the cancer diagnostics market.

Thermo Fisher Scientific acquires Qiagen: In March 2020, Thermo Fisher Scientific, Inc. announced the acquisition of Qiagen N.V., a provider of sample and assay technologies for genomics research and molecular diagnostics, for $11.5 billion. The acquisition is expected to enhance Thermo Fisher Scientific's position in the genomics market.

PerkinElmer acquires Oxford Immunotec: In December 2020, PerkinElmer, Inc. announced the acquisition of Oxford Immunotec, a provider of immunology-based diagnostic tests, for $591 million. The acquisition is expected to expand PerkinElmer's diagnostics portfolio.

Illumina invests in Luminostics: In August 2020, Illumina, Inc. announced an investment in Luminostics, a company developing rapid diagnostic tests based on its smartphone-powered technology. The investment is expected to expand Illumina's portfolio of diagnostic products.

BGI Group expands in Europe: In June 2020, BGI Group announced the opening of a genomics research center in Copenhagen, Denmark. The new center is expected to expand BGI Group's presence in Europe and enhance its genomics research capabilities.