Genome Testing Market by Component (Consumables, Equipment, Software & Services), Technology (Microarrays, Next-Generation Sequencing, Targeted Sequencing), Application, Distribution Channel, End-use - Global Forecast 2024-2030

Genome Testing Market by Component (Consumables, Equipment, Software & Services), Technology (Microarrays, Next-Generation Sequencing, Targeted Sequencing), Application, Distribution Channel, End-use - Global Forecast 2024-2030

The Genome Testing Market size was estimated at USD 17.57 billion in 2023 and expected to reach USD 19.76 billion in 2024, at a CAGR 13.21% to reach USD 41.90 billion by 2030.

Genome Testing, often referred to as whole genome sequencing (WGS), involves examining the complete sequence of DNA in an organism’s genome at a single time. This comprehensive analysis covers all types of genetic variations, including insertions, deletions, single nucleotide polymorphisms (SNPs), copy number variations, and large structural changes. Growing emphasis on early disease detection & prevention, along with the increasing interest in ancestry and genealogy, boosts the significance of genome testing. However, the high cost associated with genomics equipment and the complexity of interpreting genetic information impact the market growth. Furthermore, the integration of AI and big data analytics for improved interpretation of genetic data is creating a potential opportunity for market growth.

Regional Insights



In the Americas, particularly in the United States and Canada, the consumer need for genome testing is driven by a heightened awareness of personalized medication and a growing focus on preventive healthcare procedures. Customers in these regions exhibit a willingness to invest in health and wellness, supported by higher disposable income and substantial healthcare spending. The increasing prevalence of genetic disorders has catalyzed the demand for genome testing services. The European Union displays a diverse market for genome testing due to differences in healthcare systems, regulations, and consumer attitudes across member countries. Privacy concerns, ethical considerations, and regulatory frameworks such as the General Data Protection Regulation (GDPR) profoundly influence customer purchasing behavior. Emerging economies in the MEA show varying levels of demand for genome testing. The Middle East, with its well-funded healthcare systems in countries, is witnessing an increased interest in genome testing for personalized medicine. The Asia Pacific region, especially China, Japan, and India, exhibits a rapidly developing market for genome testing. China's investment in biotechnology has soared, as evidenced by its large-scale genome research projects and international collaborations.

Market Insights



Market Dynamics



The market dynamics represent an ever-changing landscape of the Genome Testing Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers


Increasing prevalence of genetic disorders and cancer across the globe
Growing emphasis on early disease detection & prevention
Increasing awareness of personalized medicine

Market Restraints


High cost associated with genomics equipment

Market Opportunities


Technological advancements in gene sequencing and data analysis
Rising government initiatives and fundings for boosting research activities

Market Challenges


Complexities associated with the interpreting genetic information

Market Segmentation Analysis


Component: Ongoing advancements in equipments for high-throughput sequencing
Technology: Increasing preference of next-generation sequencing due to its precise and comprehensive genomic analysis
Application: Increasing investment for advance genome testing across
End-use: Rising significance of advanced genomic in diagnostic laboratories for research associated with genetic diseases

Market Disruption Analysis


Porter’s Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix



The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Genome Testing Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis



The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Genome Testing Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments




Cone Health Readies for 100,000 Person Genomics Project

Cone Health is on the brink of launching an expansive genomic testing initiative designed to enhance the health and longevity of individuals throughout the Piedmont Triad region. The program aims to harness the predictive power of genomics to identify individuals at risk for certain diseases, such as breast cancer and cardiac issues, thereby enabling early intervention and personalized healthcare. Cone Health has partnered with population genomics specialist, Helix, and envisages recruiting 100,000 healthy volunteers within five years for DNA sequencing via blood or saliva samples.


Illumina Launches Advanced Liquid Biopsy Assay to Enable Comprehensive Genomic Profiling of Solid Tumors

Illumina Inc. has unveiled its latest innovation, the TruSight Oncology 500 ctDNA v2 (TSO 500 ctDNA v2), designed for the comprehensive genomic profiling (CGP) of circulating tumor DNA (ctDNA) using a noninvasive liquid biopsy approach. The TSO 500 ctDNA v2 presents a significant advancement for cancer research, offering a viable solution for genomic profiling when tissue samples are unattainable or enhancing the insights gained from traditional tissue-based tests.


Apollo Opens Genomic Institute In Chennai, to Open Three More in 2023

Apollo Hospitals Group has inaugurated a Genomics Institute in Chennai to advance the study of genes and tackle genetic disorders. This marks the newest addition to their growing network with existing facilities in Mumbai and Delhi. By the end of 2023, Apollo is poised to enhance its genomic footprint with additional institutes launching in Hyderabad, Bangalore, and Ahmedabad. The Chennai Institute is set to offer comprehensive genomic services, including genetic evaluation, clinical diagnostics, obstetric genetics, and cancer genomics. These services are meticulously designed to provide patients with critical information for the management and prevention of genetic disorders.

Strategy Analysis & Recommendation



The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Genome Testing Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles



The report delves into recent significant developments in the Genome Testing Market, highlighting leading vendors and their innovative profiles. These include 10x Genomics, 23andMe, Inc, Abbott Laboratories, Agilent Technologies, Inc., BGI Group, Bio-Rad Laboratories, Inc., Danaher Corporation, Eurofins Scientific SE, F. Hoffmann-La Roche, Ltd., Freenome Holdings, Inc., GeneDx, LLC, Genomic Testing Cooperative, Helix OpCo, LLC, Illumina, Inc., Merck KGaA, New England Biolabs, Inc., Novogene Co, Ltd., Oxford Nanopore Technologies PLC, PerkinElmer Inc., QIAGEN N.V., Quest Diagnostics Incorporated, Takara Bio Inc, Thermo Fisher Scientific Inc., Ultima Genomics, Inc., and VWR International, LLC.

Market Segmentation & Coverage



This research report categorizes the Genome Testing Market to forecast the revenues and analyze trends in each of the following sub-markets:

Component
Consumables
Equipment
Software & Services
Technology
Microarrays
Next-Generation Sequencing
Targeted Sequencing
Whole Genome Sequencing
Application
Cancer
Brain Cancer
Breast Cancer
Colorectal Cancer
Lung Cancer
Melanoma
Ovarian Cancer
Prostate Cancer
Non-cancer
Cardiovascular Diseases
Neurological Disorders
Tumors
Distribution Channel
Offline
Online
End-use
Diagnostic Laboratories
Hospitals & Clinics
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas
Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam
Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year