Global Genomics Market Projected to Grow at 16.4% CAGR, Reaching $92.24 Billion by 2029

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What Will the Genomics Industry Market Size Be by 2025?
The overall scale of the genomics industry has seen substantial expansion lately, projected to increase from $43.41 billion across 2024 to reach $50.23 billion the following year, reflecting a compound annual growth rate (CAGR) of 15.7%; this upward trajectory during the past period has been fueled by factors such as the declining expense associated with sequencing procedures, ongoing efforts in research and scientific discovery, broader adoption within healthcare contexts, and the advancement of tailored medical treatments.

What's the Long-Term Growth Forecast for the Genomics Market Size Through 2029?
Projections indicate that the genomics sector is poised for substantial expansion over the coming years, destined to reach a valuation of $92.24 billion by 2029, driven by a compound annual growth rate (CAGR) of 16.4%; this upward trajectory is primarily fueled by increasing knowledge dissemination and public awareness, the advancement of pharmaceutical creation and treatment modalities, expanding utilization in diagnostic testing, and the evolution of governing regulations and ethical guidelines. Core developments shaping this period will encompass leaps forward in technology, the increasing implementation of genomic sequencing within agricultural practices, the formation of strategic alliances and cooperative ventures, alongside sophisticated genomic data analysis techniques.

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What Are the Key Growth Drivers Fueling the Genomics Market Expansion?
Increased financial backing from governmental bodies toward genomic investigation is propelling the expansion of the single-cell genomics market. This public sector support is directed at tackling the intricate nature of the human genome, establishing the genetic foundations of both well-being and illness in humans, and making certain that genomic science is employed responsibly to elevate patient treatment and provide societal advantages through collaboration among governmental, public, and private organizations. To illustrate this commitment, reports from GOV.UK, the service platform for the UK government, indicated that in December 2022, the United Kingdom administration earmarked 175 million pounds, equivalent to approximately 229.83 US dollars, specifically for improving genomic healthcare services, with a notable emphasis on pioneering technologies capable of advancing the diagnosis and therapeutic strategies for numerous ailments, such as malignancies and infrequently occurring inherited conditions.

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What Are the Key Trends Driving Genomics Market Growth?
Leading firms within the genomics sector are heavily prioritizing innovation in technology, specifically pursuing long read sequencing methods to substantially improve the precision of genome mapping, facilitate study of expanded and more intricate genetic territories, and yield more profound understandings of variations in the DNA structure that were heretofore challenging to identify. This long read capability in the field of genomics entails sequencing longer strands of genetic material, either DNA or RNA, to achieve a more thorough and accurate genetic profile, which ultimately supports superior identification of intricate structural alterations and markers linked to various ailments. As an illustration, in the third month of 2023, the American biotech entity, Illumina Inc., introduced Illumina's Complete Long Read Prep; this particular offering presents an effective, low-sample requirement approach for full genome sequencing, merging the output of both lengthy and brief reads from a solitary instrument, characterized by streamlined processes and a reduced need for consumables when contrasted with alternative sequencing technologies.

How Is the Genomics Market Segmented?
The genomicsmarket 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 Companies Are Leading the Charge in Genomics Market Innovation?
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, dic*kinson 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.

Which Regions Are Leading the Global Genomics Market in Revenue?
North America was the largest region in the genomics market in 2024. 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

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