Genomics Market By Product (Consumables and Reagent, Services, Instruments, Systems and Software) , By Technology (Sequencing, PCR, Flow Cytometry, Microarray, Others) By Application (Functional Genomics, Epigenomics, Pathway Analysis, Biomarker Discovery, Others) By End User (Clinical Research, Academic and Government Institutions, Hospitals and Clinics, Pharmaceutical and Biotechnology Companies, Others) : Global Opportunity Analysis and Industry Forecast, 2024-2033
Genomics Market
The genomics market was valued at $33.2 billion in 2023 and is projected to reach $97.1 billion by 2033, growing at a CAGR of 11.5% from 2024 to 2033.
Genomics is the branch of molecular biology that involves the study of structure, function, mapping, evolution, and editing of the genome of living organisms. A genome is defined as the entire set of an individual’s deoxyribonucleic acid (DNA). DNA is an essential chemical compound present inside a living body that contains the critical information for the development and functioning of the body. The major role of genomics is to determine the sequence of molecules which form the DNA content of organisms.
Increase in the integration of genomics into healthcare through personalized treatment plans, diagnosis of diseases, and genetic testing is driving the development of the market. In addition, constant efforts toward new drug development are boosting the demand for innovative genomics technology. In recent times, 3D and spatial genomics is a flourishing trend that involves studying the spatial positioning of chromatin inside the nucleus. This technology is predicted to revolutionize the field of human health and medicine owing to the novel insights it provides into the genetic makeup of individuals.
However, the high expense of establishing genomics laboratories and infrastructure acts as a key restraint for the growth of the market. In addition, the high risk associated with the misuse of genetic data limits market development. According to an article by the National Center for Biotechnology Information, every year millions of individuals dynamically provide unlimited access of their health information to different institutions for multiple uses, including insurance and commercial transactions. The sharing of data is highly extensive such that the information becomes available to institutions not covered under Health Insurance Portability and Accountability Act (HIPPA), thereby losing the security offered by the HIPAA Privacy Rule.
Segment ReviewThe genomics market is segmented into product, technology, application, end user, and region. On the basis of product, the market is divided into consumables & reagent, services, instruments, systems and software. By technology, it is classified into sequencing, PCR, flow cytometry, microarray, and others. As per application, it is categorized into functional genomics, epigenomics, pathway analysis, biomarker discovery, and others. Depending on end user, it is segmented into clinical research, academic & government institutions, hospitals & clinics, pharmaceutical & biotechnology companies, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key FindingsOn the basis of product, the consumables & reagent segment dominated the market in 2023.
By technology, the sequencing segment held the highest market share in 2023.
As per application, the functional genomics segment acquired a high stake in the market in 2023.
Depending on end user, the pharmaceutical & biotechnology companies segment was the highest shareholder in 2023.
Region wise, North America was the highest revenue generator in 2023.
Competition AnalysisThe leading players operating in the global genomics market include Color Genomics, Inc., BGI Genomics, Agilent Technologies, Danaher Corporation, Eppendorf AG, Eurofins Scientific SE, F. Hoffmann-La Roche Ltd., GE Healthcare, Illumina, Inc., and Bio-Rad Laboratories, Inc. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, to strengthen their foothold in the competitive market.
Key Market SegmentsBy ProductConsumables and Reagent
Services
Instruments, Systems and Software
By TechnologySequencing
PCR
Flow Cytometry
Microarray
Others
By ApplicationFunctional Genomics
Epigenomics
Pathway Analysis
Biomarker Discovery
Others
By End UserClinical Research
Academic and Government Institutions
Hospitals and Clinics
Pharmaceutical and Biotechnology Companies
Others
By RegionNorth America
U.S.
Canada
Mexico
Europe
France
Germany
Italy
Spain
UK
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
South Africa
Saudi Arabia
UAE
Rest of LAMEA
Key Market Players
Color Genomics, Inc.
BGI Genomics
Agilent Technologies
Danaher Corporation
Eppendorf AG
Eurofins Scientific SE
F. Hoffmann-La Roche Ltd.
GE Healthcare
Illumina, Inc.
Bio-Rad Laboratories, Inc.