Genomics Market by Technology (Sequencing, Microarray, PCR, Nucleic Acid Extraction), Application (Drug Discovery, Diagnostic, Research), End User (Pharmaceutical, Hospital, Academic), Offering (Instrument, Consumables, Software) - Global Forecast to 2031

Genomics Market by Technology (Sequencing, Microarray, PCR, Nucleic Acid Extraction), Application (Drug Discovery, Diagnostic, Research), End User (Pharmaceutical, Hospital, Academic), Offering (Instrument, Consumables, Software) - Global Forecast to 2031

Genomics Market by Technology (Sequencing, Microarray, PCR, Nucleic Acid Extraction) Application (Drug Discovery, Diagnostic, Research) End User (Pharmaceutical, Hospital, Academic) Offering (Instrument, Consumable, Software)—Global Forecast to 2031

The global genomics market is projected to reach $70.52 billion by 2031, at a CAGR of 11.1% from 2024 to 2031.

Succeeding extensive secondary and primary research and in-depth analysis of the market scenario, the report comprises the analysis of key industry drivers, restraints, challenges, and opportunities. The growth of the genomics market is driven by the rising prevalence of genetic diseases, the increasing incorporation of genomic data in clinical workflows, increasing funding and investments in genomics projects, the growing applications of genomics in the healthcare sector, rising pharmaceutical R&D expenditures, decreasing cost of sequencing, and increasing healthcare spending. However, the lack of standardized approaches in genomics and concerns over the security & privacy of genomic data restrain the growth of this market.

Moreover, the rising adoption of personalized medicines and gene therapies is expected to generate market growth opportunities. However, the shortage of skilled bioinformatics and genomics personnel and the commercialization and scaling of genomic technologies are major challenges for market stakeholders.

The report offers a competitive landscape based on an extensive assessment of the product portfolio offerings, geographic presences, and key strategic developments adopted by leading market players in the industry over four years (2020–2024). The key players operating in the global genomics market are Agilent Technologies, Inc. (U.S.), Bio-Rad Laboratories, Inc. (U.S.), Danaher Corporation (U.S.), Thermo Fisher Scientific Inc. (U.S.), Illumina, Inc. (U.S.), QIAGEN N.V. (Netherlands), Pacific Biosciences of California, Inc. (U.S.), Oxford Nanopore Technologies Plc. (U.K.), Eppendorf SE (Germany), Myriad Genetics, Inc. (U.S.), Revvity, Inc. (Formerly PerkinElmer, Inc.) (U.S.), and BGI Genomics Co. Ltd (China).

Among all the offerings studied in this report, the consumables segment is projected to register the highest CAGR during the forecast period. The highest CAGR of this segment is attributed to the increasing prevalence of genetic diseases, growing adoption of genetic testing, and recurring purchase of consumables over instruments. An increase in the prevalence of genetic disease cases has triggered the demand for genetic tests, which is driving the adoption of consumables. For instance, according to a report published by MJH Life Sciences (U.S.) in 2022, approximately 300,000 babies are born with sickle cell disease per year globally, and nearly 5% of the world's population is affected by the disease.

Among all the technologies studied in this report, in 2024, the polymerase chain reaction (PCR) segment is expected to account for the largest share of the genomics market. The increasing use of PCR in clinical diagnostics, technological advancements in PCR, collaborations for genomic research, and the use of PCR in these research studies are some of the factors contributing to the segment’s largest share. Product launches further boost this segment’s large market share. For instance, in March 2023, Bio-Rad Laboratories launched PTC Tempo 96 and PTC Tempo Deepwell Thermal Cyclers to optimize PCR applications such as sequencing, cloning, and genotyping.

Among all the applications studied in this report, in 2024, the diagnostics segment is expected to account for the largest share of the genomics market. The use of genomics in oncology, newborn screening, and hepatitis testing is contributing to the largest share of the segment. Genomics is used in newborn screening, which are laboratory tests performed on newborn babies to identify known genetic diseases. Government agencies support newborn screening to reduce the incidence of genetic disorders among newborns through early detection, diagnosis, and intervention. For instance, in December 2022, the government of the U.K. invested more than USD 110.6 million (GBP 105 million) to speed up the rare disease diagnosis in newborns. Such initiatives play a vital role in driving the segment’s largest share.

Among all the end users studied in this report, the pharmaceutical & biotechnology companies’ segment is expected to record the highest CAGR during the forecast period. The highest CAGR of the segment is attributed to the increasing research & development by pharmaceutical & biotechnology companies, the rising utilization of genomics for research processes, and an increasing number of biotechnology companies. Moreover, the rising incidence of chronic diseases has accelerated the need to expedite drug development processes, further propelling the adoption of genomics among pharmaceutical companies.

An in-depth analysis of the geographical scenario of the global genomics market provides detailed qualitative and quantitative insights into the five major geographies (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa) along with the coverage of major countries in each region. In 2024, North America is expected to account for the largest share of the genomics market. North America is home to numerous renowned research institutions, universities, and organizations dedicated to genomics research; the region has made significant contributions to cancer genomics, with rising pharmaceutical R&D expenditure and the presence of key players. For instance, R&D spending by pharmaceutical companies in Canada for drug discovery has increased, driving the demand for genomics. For instance, in 2020, total R&D expenditure in Canada’s pharmaceutical sector was estimated at between USD 1.8 billion and USD 2.4 billion, compared to USD 1.6 billion and USD 2.2 billion in 2019. Thus, the presence of research institutes, rising testing for genetic disorders, and increasing pharmaceutical R&D expenditure is supporting the largest regional share.

Scope of the Report:

Genomics Market Assessment—by Offering

Systems
Consumables
Software
Services

Genomics Market Assessment—by Technology

Polymerase Chain Reaction (PCR)
Sequencing
NGS
Other Sequencing Technologies
Nucleic Acid Extraction and Purification
Microarray
Other Technologies

Note: Other sequencing technologies include pyrosequencing, degradome sequencing, sanger sequencing, chromatin immunoprecipitation (ChIP) sequencing, and methylation sequencing.

Note: Other technologies include cell counting, transfection, and gene editing.

Genomics Market Assessment—by Application

Diagnostics
Drug Discovery & Development
Life Sciences Research
Cancer Research
Stem Cell Research
Other Life Sciences Research
Other Applications

Note: Other life sciences research applications include cardiovascular research, osteoporosis, immunology, neurobiology, cellular and molecular biology, and diabetes

Note: Other applications include agriculture, forensics, and environmental.

Genomics Market Assessment—by End User

Pharmaceutical & Biotechnology Companies
Hospitals & Clinics
Diagnostics Laboratories
Contract Research Organizations (CROs)
Academic & Research Institutes
Other End Users

Note: Other end users include food & beverage companies, agriculture companies, and forensics.

Genomics Market Assessment—by Geography

North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Rest of Asia-Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa

Genomics Market by Technology - Report Summary

Report Metrics	Details
Years Considered	2016 - 2021
Base Year	2023
Forecast Period	2024-2031
Page Count	320
Segments/Key Topics	by Offering Instruments Consumables Software Services by Technology Polymerase Chain Reaction (PCR) Sequencing NGS Other Sequencing Technologies Nucleic Acid Extraction and Purification Microarray Other Technologies Note: Other sequencing technologies include pyrosequencing, degradome sequencing, sanger sequencing, chromatin immunoprecipitation (ChIP) sequencing, and methylation sequencing. Note: Other technologies include cell counting, transfection, and gene editing. by Application Diagnostics Drug Discovery & Development Life Sciences Research Cancer Research Stem Cell Research Other Life Sciences Research Other Applications Note: Other life sciences research applications include cardiovascular research, osteoporosis, immunology, neurobiology, cellular and molecular biology, and diabetes Note: Other applications include agriculture, forensics, and environmental applications. by End User Pharmaceutical & Biotechnology Companies Hospitals & Clinics Diagnostics Laboratories Contract Research Organizations (CROs) Academic & Research Institutes Other End Users Note: Other end users include food & beverage companies, agriculture companies, and forensics.
Regions Covered	North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, RoE), Asia-Pacific (China, Japan, India, RoAPAC), Latin America (Brazil, Mexico, RoLATAM), and Middle East & Africa
Key Companies Mentioned	Agilent Technologies, Inc. (U.S.), Bio-Rad Laboratories, Inc. (U.S.), Danaher Corporation (U.S.), Thermo Fisher Scientific Inc. (U.S.), Illumina, Inc. (U.S.), QIAGEN N.V. (Netherlands), Pacific Biosciences of California, Inc. (U.S.), Oxford Nanopore Technologies Plc. (U.K.), Eppendorf SE (Germany), Myriad Genetics, Inc. (U.S.), Revvity, Inc. (Formerly PerkinElmer, Inc.) (U.S.), and BGI Genomics Co. Ltd (China).

Key questions answered in the report:

What is the focus of the global genomics market study?

This study offers a detailed assessment of the genomics market, including the market sizes & forecasts for various segmentation such as offering, technology, application, end user, and geography. This report also involves the value analysis of various segments and subsegments of the genomics market at the regional and country levels.

What is the revenue generated from genomics across the globe? At what rate is their demand expected to grow for the next 5–7 years?

The global genomics market is projected to reach $70.52 billion by 2031, at a CAGR of 11.1% during the forecast period.

Which offering segment is expected to account for the largest share of the market in 2024?

Based on offering, in 2024, the consumables segment is expected to account for the largest share of the market due to the high demand for consumables from the increasing number of genetic testing and quality control processes.

Which end-user segment is expected to account for the largest share of the market in 2024?

Based on end user, in 2024, the pharmaceutical & biotechnology companies segment is expected to account for the largest market share due to the increased R&D spending by pharmaceutical companies.

What are the key factors supporting the growth of this market? Also, what are the major opportunities for existing market players and new entrants in the global genomics market?

The growth of the genomics market is driven by the rising prevalence of genetic diseases, the increasing incorporation of genomic data in clinical workflows, increasing funding and investments in genomics projects, the growing applications of genomics in the healthcare sector, rising pharmaceutical R&D expenditures, decreasing cost of sequencing, and increasing healthcare spending.

Moreover, the rising adoption of personalized medicines and gene therapies is expected to generate market growth opportunities.

Who are the major players operating in the global genomics market?

The key players profiled in the global genomics market report are Agilent Technologies, Inc. (U.S.), Bio-Rad Laboratories, Inc. (U.S.), Danaher Corporation (U.S.), Thermo Fisher Scientific Inc. (U.S.), Illumina, Inc. (U.S.), QIAGEN N.V. (Netherlands), Pacific Biosciences of California, Inc. (U.S.), Oxford Nanopore Technologies Plc. (U.K.), Eppendorf SE (Germany), Myriad Genetics, Inc. (U.S.), Revvity, Inc. (Formerly PerkinElmer, Inc.) (U.S.), and BGI Genomics Co. Ltd (China).

Which regions/countries are expected to offer significant growth opportunities for the market players operating in the global genomics market?

Emerging economies in the Asia-Pacific region are projected to offer significant growth opportunities to the market players due to increasing cases of inherited diseases such as Down syndrome, colon (colorectal) cancer, and breast cancer, growing awareness about the significance of genetic tests, increasing healthcare expenditure, increasing government initiatives for promoting genetic tests, and growing investments by major market players.