Press release
Global Genomics Market Analysis 2025-2030: Growth Drivers, Challenges, And Opportunities
Genomics
How Big Is the Genomics Market Size Expected to Be by 2034?
The genomics market size has grown rapidly in recent years. It will increase from $45.47 billion in 2024 to $53.92 billion in 2025 at a CAGR of 18.6%. The growth is attributed to lower sequencing costs, advancements in research and discovery, the rise of healthcare applications, and the increasing use of personalized medicine.
The genomics market size is expected to see rapid growth in the next few years. It will grow to $112.78 billion by 2029 at a compound annual growth rate (CAGR) of 20.3%. The growth is driven by factors such as growing awareness, drug development and therapeutics, diagnostic applications, and evolving regulatory and ethical frameworks. Key trends in the forecast period include technological advancements, genomic sequencing in agriculture, collaborations and partnerships, and the growth of genomic data analytics.
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What Are the Emerging Segments Within 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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What Long-Term Drivers Are Shaping Genomics Market Trends?
Government funding for genomics research is expected to drive the growth of the single-cell genomics market. These funds are focused on unraveling the complexities of the human genome and using genomics to enhance healthcare. For example, in December 2022, the UK government allocated £175 million ($229.83 million) to advance genomic healthcare, including innovations for diagnosing and treating diseases like cancer and rare genetic disorders, supporting the growth of the single-cell genomics market.
Who Are the Top Competitors in Key Genomics Market Segments?
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.
What Genomics Market Trends Are Gaining Traction Across Different Segments?
Technological innovation in the genomics market is being driven by advancements like long read sequencing to improve genetic analysis. In March 2023, Illumina Inc. launched the Complete Long Read Prep, a whole-genome sequencing solution that produces both long- and short-read data using fewer materials, enabling better detection of complex genetic variations.
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Which Regions Are Becoming Hubs for Genomics Market Innovation?
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
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Genomics Market?
2. What is the CAGR expected in the Genomics Market?
3. What Are the Key Innovations Transforming the Genomics Industry?
4. Which Region Is Leading the Genomics Market?
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