Genomics Market Size

Genomics Market size was valued at USD 33.25 Billion in 2023 and is poised to grow from USD 39.7 Billion in 2024 to USD 491.15 Billion by 2032, growing at a CAGR of 19.4% during the forecast period (2025-2032).

The genomics market is vast in nature with the presence of major companies in the market using operational strategies to promote their items and develop their market positions. One such strategy is to create new goods in collaboration with other firms in order to broaden their reach to end consumers. In August 2023, Genome Medical Announces the Acquisition of Gene Matters and the Closing of $60 Million Series C Financing. 'Illumina, Inc. (US) ', 'Thermo Fisher Scientific (US) ', 'Qiagen N.V. (Netherlands) ', 'BGI Group (China) ', 'F. Hoffmann-La Roche AG (Switzerland) ', 'Danaher Corporation (US) ', 'Pacific Biosciences of California, Inc. (US) ', 'Oxford Nanopore Technologies, Ltd. (United Kingdom) ', 'Agilent Technologies, Inc. (US) ', 'Eurofins Scientific SE (Luxembourg) ', 'Bio-Rad Laboratories, Inc. (US) ', 'Myriad Genetics, Inc. (US) ', 'Fluidigm Corporation (US) ', 'PerkinElmer, Inc. (US) ', 'Twist Bioscience Corporation (US) ', 'Natera, Inc. (US) ', 'Veracyte, Inc. (US) ', 'Personalis, Inc. (US) ', '10x Genomics, Inc. (US) ', 'Quest Diagnostics (US)'

Genomics market is being driven by increased application Next-Generation Sequencing (NGS) which is becoming more widely used in cancer research. Whole-genome sequencing, genome diversity inquiry, metagenomics, epigenetics, the discovery of non-coding RNAs and protein-binding sites, and gene-expression profiling by RNA sequencing are all applications of NGS technologies contributing to Genomics market growth.  

Switch to a customised Illumina global screening array (GSA) microarray instead of the Illumina OmniExpress chip. The OmniExpress chip from Illumina will be phased out in favour of the GSA chip. As a result, organisations like Ancestry.com will be obliged to convert to the GSA, acquire Thermo Fisher Scientific goods, or implement next-generation sequencing technology if they continue to utilize this equipment. 

North America dominated the market in terms of genomics market share in 2023 with a share of 42%. 65%, due mostly to the increased backing from research organizations and pharmaceutical companies. They keep changing the genetics, expression and health and therefore their influence makes genomics important in disease and drugs development. Some examples include the combination project initiated in January 2022 between Illumina, Inc. and Nashville Biosciences, LLC which is affiliated to the Vanderbilt University Medical Center. This collaboration will employ genomics for the purposes of drug discovery and create the best clinico-genomic resource.