Global Genomics Market – Industry Trends and Forecast to 2030

Genomics Market Analysis and Size

The essential factors contributing to the growth of the global genomics market in the forecast period of 2023-2030 include the rising genomics applications, growing government support, the increasing number of genomics studies, and the declining cost of sequencing. The genomics market is in its growth phase due to the latest genetic developments and their applications in various areas of study, such as pleiotropy, intragenomic phenomena, epistasis, heterosis, and others. Along with this, bioengineering and synthetic biology applications are expected to increase the growth of the genomics market in the forecast period of 2023 to 2030.

Data Bridge Market Research analyses that the genomics market which was USD 31.56 billion in 2022, is expected to reach USD 106.14 billion by 2030, growing at a CAGR of 16.37% during the forecast period of 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Genomics Market Scope and Segmentation

Market Definition

Genomics is the study of deciphering, interpreting, applying, and interpreting DNA code to various problems. Genomics is one of the most helpful technologies in today’s world. Genomics is significant for genome sequencing as different generic variants can be identified through genomics which can be riskier for asymptomatic people for disease development. Genomics helps identify different undiscovered antimicrobial compounds and for keeping bacterial diseases away.

Genomics Market Dynamics

Drivers

• Growing incidence of cancer

The incidence of cancer and the increasing applications of next-generation sequencing in cancer research is a significant factors helping in the market's growth. Genomics is modifying the way cancer is diagnosed and treated. Genome research is improving the methods of diagnosing cancer using a blood sample. Screening tests to find cancer that are inherited are increasing due to genomics.  Therefore, the growing incidents of cancer and the successful use of genomics for diagnosing and treating cancer are boosting the market's growth.

• Implementation of artificial intelligence

Artificial intelligence (AI) implementation in genomics has increased in the past few years. The data generated through sequencing technologies are analysed by artificial intelligence algorithms, enabling quick and precise diagnosis of genetic variations responsible for a particular disease. Artificial intelligence is also used to develop personalized patient treatment plans. This helps doctors prescribe the most beneficial treatment for the patient. Thus, the use of artificial intelligence provides accurate results, therefore, AI is becoming a major opportunity for the market’s growth.  

Opportunities

• Research and development on genomics

The growing focus on genomics research and developments is contributing to the growth of the genomics market. In July 2022, WHO's Science Council of Experts was launched for the equitable expansion of genomics. It includes a focus on increasing access to genomic technologies, majorly in countries with low and middle incomes, by directing the shortfalls in the financing, materials, highly trained professionals, and laboratory infrastructure. Therefore, all these initiatives are expected to help in the significant growth of the market.

• Applications of genomics in rare disorder diagnosis

Through large-scale genetic testing, it is possible to increase diagnosis and treatment options for patients with rare diseases. The ability to understand genomes quickly and inexpensively has led to advances in the diagnosis of rare disorders. This increased diagnosis and treatment provide significant relief to patients suffering from rare disorders, as well as help the patients to understand the risk of disorder to future generations. Thus, applications of genomics in diagnosing and treating rare disorders would help grow the market.

Restraints/Challenges

• Requirement of trained professionals

Genomics involve complex procedures such as a combination of recombinant DNA technology, DNA sequencing methods, and bioinformatics. It is used to sequence, assemble, and analyze the structure and function of genomes. Thus, it requires skilled genetics professionals. The lack of skilled genetics professionals is a major challenge hindering market growth. The shortage of trained genetic professionals has resulted in wrong result interpretations and false observations during genetic research and testing. Therefore, the lack of trained professionals is one of the main challenges hindering the global market.

•  Handling of sensitive instruments

Genomics studies involve procedures such as gene editing, amplification, sequencing, and multiplexing, which are highly complex and sensitive. Advanced instruments such as microarray equipment, PCR instruments, centrifuges, analyzers, liquid handling equipment, and sequencers are used in these procedures. Therefore, all the instruments must be handled with the utmost care. Handling these sensitive instruments is a major growth obstructing factor for the market.

This genomics market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the genomics market contact Data Bridge Market Research for an Analyst Brief, our team will help you make an informed market decision to achieve market growth.

Recent Development

• In March 2021, PCR Biosystems launched a range of IsoFast Bst Polymerase reagents for rapid, robust, and sensitive DNA and RNA amplification, enabling faster results and facilitating DNA and RNA amplification in the field without specialized thermos-cycling equipment. Therefore, the factors such as new product launches and the rising usage of consumables in genomics will help boost the market's growth.
• In August 2022, Trivitron Healthcare launched the Centre of Excellence with state-of-the-art R&D and manufacturing facilities in India. This center will implement research and innovation in the field of genomics and others. This would significantly help the market's growth in the Asia Pacific Region.
• In Feb, 2023, Complete Genomics, announced the launch of DNBSEQ-T20, a genetic sequencer calming it would generate the first sub-$100 with low to midrange throughput.
• In July 2020, Illumina launched TruSight software suite, which supplies readymade infrastructure to recognize the potentiality of whole-genome sequencing of old diseases.

Global Genomics Market Scope

The genomics market is segmented on the basis of deliverables, technology, application and end-user. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Deliverables

• Products
• Instruments
• Consumables & Reagents
• Software and Services
• NGS-based Services
• Core Genomics Services
• Biomarker Translation Services
• Computational Services
• Others

Technology

• Sequencing
• Next Generation Sequencing
• DNA Sequencing
• Bisulfide Sequencing
• Microarray
• Polymerase Chain Reaction (PCR)
• Nucleic Acid Extraction
• Purification
• Others

Process

• Library Preparation
• Data Analysis
• Imaging

Application

• Functional Genomics
• Transfection
• Ribonucleic acid (RNA) Interference
• Mutational Analysis
• Single nucleotide polymorphisms (SNP) Analysis
• Epigenomics
• Chromatin Immunoprecipitation (ChIP & ChIP-Seq)
• Methylated DNA Immunoprecipitation (MeDIP)
• High-Resolution Melt (HRM)
• Chromatin Accessibility Assays
• Pathway Analysis
• Bead-Based Analysis
• Proteomics Tools (2-D PAGE; yeast 2-hybrid studies)
• Biomarker Discovery
• Mass Spectrometry
• Statistical Analysis
• Bioinformatics
• Others

End-User

• Government

• Healthcare facilities
• Hospitals and Clinics
• Diagnostics Centers,
• Academic Institutes
• Clinical Research
• Biotechnology
• Pharmaceutical Companies
• Others

Genomics Market Regional Analysis/Insights

The genomics market is analysed and market size insights and trends are provided by deliverables, technology, process, application and end-user as referenced above.

The countries covered in the genomics market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the genomics market because of the rapid growth of sequencing technology U.S.’s genomics research grants and funds, help from major industrial players and increasing cases of cancer within the region. All these factors are further anticipated to boost market’s growth in North American Region.   

Asia Pacific is expected to witness significant growth during the forecast period of 2023 to 2030 because of the increased demand for genomics applications in diagnostics and the growing demand for novel therapeutic drugs for fighting against the increased incidence of diseases in the region. Several major human genome sequencing projects are being performed in the region, significantly contributing to the growth of the market in the region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Genomics Market Share Analysis

The genomics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to genomics market.

Some of the major players operating in the genomics market are:

• Agilent Technologies, Inc. (U.S.)
• Bio-Rad Laboratories, Inc. (U.S.)
• BGI (China)
• Color Health, Inc. (U.S.)
• Danaher  (U.S.)
• Eppendorf SE (Germany)
• Eurofins Scientific (Luxembourg)
• F. Hoffmann-La Roche Ltd. (Switzerland)
• GE Healthcare (U.S.)
• Illumina, Inc. (U.S.)
• Myriad Genetics, Inc. (U.S.)
• Oxford Nanopore Technologies plc. (U.K.)
• PacBio (U.S.)
• QIAGEN (Germany)
• Diagnostics Incorporated (U.S.)
• Thermo Fisher Scientific, Inc. (U.S.)
• 23andMe, Inc. (U.S.)
• FOUNDATION MEDICINE, INC. (U.S.)
• IntegraGen (France)
• Genome Diagnostics Pvt. Ltd. (India)
• Cytiva (U.S.) 

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