Shaping the Genomics Market in 2025: Advancements In Long-Read Technology For Enhanced Genome Sequencing And Analysis

How Big Is the Genomics Market Expected to Be, and What Will Its Growth Rate Be?
The size of the genomics market has expanded swiftly in the past few years. It is projected to rise from $45.47 billion in 2024 to $53.92 billion in 2025, indicating a compound annual growth rate (CAGR) of 18.6%. Factors contributing to its expansion during the historic period include lowering of sequencing expenses, research and discovery projects, healthcare applications, and the rise of personalized medicine.

Substantial expansion is predicted for the genomics market in the coming years, with the market size reaching $112.78 billion by 2029, reflecting a compound annual growth rate (CAGR) of 20.3%. The surge during the forecast period can be linked to rising education and awareness, progress in drug development and therapeutics, diagnostic applications, and the establishment of regulatory and ethical frameworks. Key trends for the forecast period include technological enhancements, the application of genomic sequencing in agriculture, strategic alliances and partnerships, and the analysis of genomic data.

What Are the Primary Growth Drivers for the Genomics Market?
The surge in government investment towards genomic research fuels the expansion of the single-cell genomics market. The priorities of this funding are to decode the intricacies of the human genome, decipher the genomic roots of human health and illness, and assure the safe application of genomics to elevate patient care and serve society, through governmental, public, and private establishments. For example, GOV.UK - a UK government services and information outlet - reported in December 2022 that in 2022, the UK government set aside £175 ($229.83) million to upgrade genomic healthcare. This investment highlights cutting-edge technologies that can enhance the diagnosis and therapy of numerous diseases, including cancer and rare genetic disorders.

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Who Are the Dominant Companies Influencing Genomics Market Trends?
Major companies operating in the genomics market include 10X Genomics Inc., Qiagen NV, Standard BioTools Inc., Johnson and Johnson, Illumina Inc., Affymetrix Inc., Angle plc, Denovo Sciences Inc., Diagnologix LLC, DNA Electronics Ltd., Epic Sciences, Kellbenx Inc., Resolution Bioscience Inc., Wafergen Bio-systems Inc., Yikon Genomics Co. Ltd., Thermo Fisher Scientific Inc., Beckman Coulter Inc., Becton, Dickinson and Company, Bio-Rad Laboratories Inc., Carl Zeiss Microscopy GmbH, Cell Microsystems Inc., CellSorter, CYTENA GmbH, Dolomite Bio Limited, Agilent Technologies Inc., Fluxion Biosciences Inc., BGI Group, F. Hoffmann-La Roche AG, Oxford Nanopore Technologies Ltd., Pacific Biosciences of California Inc., Eurofins Scientific SE, Danaher Corporation, PerkinElmer Inc.

How Is the Genomics Market Evolving?
Key players in the genomics market are emphasizing on technological progress, particularly in areas like long read technology, to improve the accuracy of genome sequencing. Long read technology provides a more comprehensive study of vast and intricate genetic regions, giving deeper understanding of genetic alterations previously hard to identify. This technique sequences lengthier DNA or RNA segments, enabling more accurate and comprehensive genetic analysis and aiding in detecting intricate variations and indicators related to diseases. For example, Illumina Inc., a biotechnology company from the US, introduced Illumina's Complete Long Read Prep in March 2023. This product delivers an effective, low-input option for whole-genome sequencing, providing both long and short read data via the same device. It simplifies operations and necessitates fewer materials than its counterparts.

What Are the Different Segmentations in the Genomics Market?
The genomics market covered in this report is segmented -

1) By Product Type: Instrument (Including Systems, Service Contract And Software), Reagents (Including Reagents And Consumables)
2) By Process: Cell Isolation, Sample Preparation, Genomic Analysis
3) By End User: Academic Institutes, Biopharmaceutical Companies, Clinical Research Institutes

Subsegments:
1) By Instrument: Systems, Service Contracts, Software
2) By Reagents: Kits, Consumables

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Which Region Is at the Forefront of the Genomics Market?
North America was the largest region in the genomics market in 2023. Western Europe was the second largest region in the genomics market. The regions covered in the genomics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

What Is Covered In The Genomics Global Market Report?

- Market Size Analysis: Analyze the Genomics Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Genomics Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Genomics Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Genomics Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

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