Press release
Genomics Market to Reach USD 115.4 Billion by 2031, Growing at 18.7% CAGR
Genomics Market
North America holds the largest share, driven by advanced healthcare infrastructure, regulatory approvals, and significant public and private funding. The Asia-Pacific region is forecast to grow at the fastest rate, fueled by translational research investments, clinical genomics expansion, and the adoption of tailored medicine across diverse genetic populations.
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Key Highlights from the Report
➤ Global genomics market forecast to reach USD 115.4 billion by 2031, growing at 18.7% CAGR
➤ Surge in genomic sequencing demand for cancer diagnostics, viral, and inherited diseases
➤ Products segment leads offerings, driven by rising demand for instruments, consumables, and reagents
➤ Sequencing technologies dominate in the technology category due to precision and accessibility gains
➤ Oncology diagnostics account for the largest share in applications, supported by tumor profiling and liquid biopsy advances
➤ Asia-Pacific projected as fastest-growing region with strong translational research funding and clinical genomics expansion
Market Segmentation
By offerings, products lead the market, encompassing instruments, reagents, and consumables essential for genomics workflows from sample preparation to data analysis. The rise of cancer genomics, precision diagnostics, and genomic surveillance demands robust, reliable products for research and clinical applications.
By technology, sequencing-including NGS and long-read methods-retains the largest share, enabling high-throughput, cost-effective genetic analysis. Sequencing's role in oncology, infectious disease profiling, and rare disease research has expanded substantially with advancements in accuracy, speed, and automation.
By diagnostic application, oncology dominates, leveraging genomics for tumor profiling, mutation identification, and targeted therapy selection. Emerging techniques like liquid biopsy and ctDNA analysis enhance early detection, response monitoring, and minimal residual disease assessment for cancers such as lung, breast, and colorectal.
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Regional Insights
North America: Largest Market Share
North America's leadership stems from advanced healthcare infrastructure, strong government funding (e.g., All of Us Research Program), rapid clinical integration of genomics, and FDA-approved genome-based diagnostics. The presence of leading research institutions and collaborations accelerates innovation in cancer and precision medicine applications.
Asia-Pacific: Fastest-Growing Market
Asia-Pacific's growth is driven by government-backed translational research, adoption of genomics in clinical diagnostics, and its diverse genetic base offering vast opportunities for customized healthcare. Rising investments in sequencing infrastructure position the region as an emerging genomics hub.
Market Dynamics
Market Drivers
Increased prevalence of viral and inherited disorders boosts the need for genomic surveillance, early diagnosis, and targeted therapies. Rising oncology applications and government-led genomic initiatives further support market expansion.
Market Restraints
High capital and operational costs for sequencing facilities and bioinformatics infrastructure limit adoption, especially in low- and middle-income regions.
Market Opportunities
Expanding role of genomics in precision medicine across oncology, cardiology, neurology, and immunology. Integration of genomic data with drug discovery accelerates tailored therapeutics development.
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Reasons to Buy the Report
✔ Comprehensive insight into market drivers, restraints, and emerging opportunities in genomics
✔ Detailed segmentation by offerings, technology, and application with growth forecasts
✔ In-depth regional analysis covering leading and fastest-growing markets
✔ Examination of major trends in oncology and precision medicine diagnostics
✔ Company profiles highlighting innovation strategies and partnerships shaping the industry
Frequently Asked Questions (FAQs)
◆ How big is the global genomics market in 2022 and its forecast for 2031?
◆ Which technology segment dominates the genomics market globally?
◆ What drives growth in oncology applications for genomics?
◆ Which region is projected to be the fastest-growing genomics market?
◆ Who are the key players in the global genomics industry?
Company Insights
Oxford Nanopore Technologies
Twist Bioscience
PacBio
Hamilton Company
Integra Biosciences
Revvity
Tecan Group Ltd.
Recent Developments:
May 2024 - Oxford Nanopore Technologies partnered with Twist Bioscience to launch a pharmacogenomics beta program integrating long-read sequencing workflows for research use.
September 2023 - PacBio announced partnerships with Hamilton, Integra, Revvity, and Tecan to automate sample preparation protocols for Revio and Sequel II systems.
Conclusion
The global genomics market is set for accelerated growth, driven by sequencing innovations, oncology diagnostics dominance, and precision medicine adoption worldwide. North America remains the technological leader, while Asia-Pacific emerges as the fastest-growing market through strategic investments in translational research and clinical genomics. As genomic integration deepens across healthcare, pharmaceuticals, and research, the industry is poised to transform disease detection, management, and personalized treatment over the next decade.
Contact Us
Mr. Sai Kiran
DataM Intelligence 4market Research LLP Ground floor
DSL Abacus IT Park, Industrial Development Area
Uppal, Hyderabad, Telangana 500039
USA: +1 877-441-4866
Email: Sai.k@datamintelligence.com
Visit Our Website: https://www.datamintelligence.com
About Us
DataM Intelligence 4Market Research is a comprehensive market intelligence platform offering syndicated and customized reports along with expert consulting across multiple industries, including chemicals, healthcare, agriculture, food & beverages, and more. With extensive experience and a strategy-focused approach, DataM provides businesses and individuals with reliable market insights, statistical forecasts, and personalized research solutions to help them make informed decisions and successfully bring innovations to market.
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