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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Genomics Market Size
The global genomics market was valued at USD 38.1 billion in 2023, driven by increased funding for genomic projects and the prevalence of chronic diseases across the globe. The market is expected to grow at a CAGR of 15.6% during the forecast period of 2024-2032, with the values likely to rise from USD 44 billion in 2024 to USD 140.1 billion by 2032.
Genomics Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market attained a value of about USD 38.1 billion in 2023 driven by increased funding for genomic projects and the prevalence of chronic diseases across the globe.
The market is anticipated to grow at a CAGR of 15.6% during the forecast period of 2024-2032, likely to reach a market value of USD 140.1 billion by 2032.
The market demand is driven by the increasing prevalence of chronic diseases and the surge in funding and investments in research and development activities in the field of genomics.
The development in minimally invasive cancer screening-based research and growing clinical trials are some of the key trends in the genomics market. In January 2024, Veracyte, a global diagnostics company acquired an Israel-based biotechnology company, C2i Genomics, to expand its cancer diagnostics range.
Product, software and services are major deliverables.
Based on the technology type, the market is divided into sequencing, microarray, polymerase chain reaction (PCR), nucleic acid extraction, purification, and others.
It includes library preparation, and data analysis among others.
Common application areas include epigenomics, functional, biomarker discovery, pathway analysis, diagnostics, drug discovery and development, precision medicine, agriculture, animal research and others.
The various end users include government and academic institutes, clinical research centers, healthcare facilities, pharmaceutical and biotechnology companies, among others.
The major regions of the market include North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
Key players involved in the market are Eppendorf SE, Eurofins Scientific, F. Hoffmann-La, Roche Ltd, GE Healthcare, Freenome Holdings, Inc., Myriad Genetics, Oxford Nanopore Technologies, PacBio, QIAGEN, Thermo Fisher Scientific, 23andMe, FOUNDATION MEDICINE, IntegraGen, Genome Diagnostics Pvt. Ltd and Cytiva.
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