USD 27.81 billion
Global Genomics Market Size, Share, Growth Analysis, By Deliverables(Product, Service), By Technology(Sequencing, PCR), By End Use(Government, Academic Institutes), By Application(Drug Discovery & Development, Diagnostics) - Industry Forecast 2023-2030
Report ID: SQSG35H2011 | Region: Global | Published Date: April, 2023 | Pages: 165 | Tables: 121 | Figures: 77
Global Genomics Market Insights
Genomics Market size was valued at USD 27.81 billion in 2021 and is poised to grow from USD 33.25 billion in 2022 to USD 411.35 billion by 2030, growing at a CAGR of 19.4% in the forecast period (2023-2030).
Genomics is the branch of molecular biology concerned with the structure, function, evolution, and mapping of genomes. Over the years, the genomics market has had a major impact on health care. As a result of the genomics revolution, medicine and biomedical sciences are undergoing fast change. The rising global burden of cancer has led to an increase in government assistance in the form of grants for genomics initiatives. The creation of customized medicine has resulted from research into the human genome, which has changed the clinical landscape for cancer treatment and rare genetic illnesses.
Academics are increasingly exploring the link between genetics and cognitive disorders, in an effort to better understand the brain's role in these conditions. Because of the increasing amount of research on cancer and cancer therapy,conducted on cancer and cancer therapy, the growing need for simple and rapid clinical diagnosis, and increased investment in RD by government organizations and biopharmaceutical companies, the global genomics market is experiencing rapid revenue growth.
US Genomics Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot
Global Market Size
Largest Segment
Service
Fastest Growth
Service
Growth Rate
19.4% CAGR
Global Genomics Market, 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
Global Genomics Market Size By Deliverables , 2021-2028($ Bn)
Global Genomics Market Size By Deliverables , 2021-2028 (%)
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Global Genomics Market Segmental Analysis
Global Genomics Market is segmented based on Deliverables, Technology, End Use, application, and Region. Based on Deliverables it is categorized into Product and Service. Based on Technology it is categorized into Sequencing, PCR, Purification, Microarray and Others. Based on End Use it is categorized into Government and Academic Institutes, Hospitals & Clinics, Pharmaceutical & Biotechnology Companies and Others. Based on application, the Genomics Market is segmented into Drug discovery & development, diagnostics, agriculture & animal research, and other applications. Based on Region it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Genomics Market Analysis by Deliverables
The Service segment is likely to contribute the highest market share at a fastest CAGR during the forecast period due to the growing number of genomic services start-ups. Over the years, genomic research has helped to forecast illness risk, generate new medicines, and advance our clinical world. Individual genomic data holds the key to predicting and treating disease in clinical medicine in the future. Our genetic variation biomarkers are the key to this novel advancement.
Genomics Market Analysis by Technology
Within functional genomics, real-time PCR was the most profitable method accounting for more than 30% share. The absolute measurement of genetic components in genomic DNA has been greatly aided by real-time quantitative PCR. This approach was used to test the use of tissue genomic DNA as a universal external standard for speeding the measurement of any target sequence in the genomes of different animals. Particularly in developed markets, the sequencing process is rather mature. The benefits of sequencing technologies, including as ultra-high throughput, scalability, and speed, enable researchers to execute a wide range of tasks, including animal breeding, agriculture, and human genomics.
Genomics Market Analysis by End Use
In terms of end use, the genomics market is segmented into Government and Academic Institutes, Hospitals & Clinics, Pharmaceutical & Biotechnology Companies and Others. Significant investments by biotechnology and pharmaceutical businesses have contributed considerably to the revenue generated by the biomarker discovery application sector in terms of future research and development for predictive biomarkers geared toward diagnosis and patient monitoring. Clinical trials involving genomes sequencing have been extremely successful, prompting an avalanche of disease-based research to investigate its use for novel treatment options and a frenetic quest for biomarkers. During the projected period, revenue in the hospital and clinics category is predicted to expand at a stable rate. This is due to the fact that genomics plays a significant role in hospitals.
Global Genomics Market By Deliverables , 2021(%)
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Global Genomics Market Regional Insights
In 2021, the North American genomics market accounted for the largest revenue share of the worldwide market. The availability of money granted by both the government and firms investigating molecular biology are major drivers driving the North American market. Genomic technology is commonly used in pharmaceutical businesses to create high-class medications like IVT (in-vitro transcribed) mRNA. In addition, numerous important companies in the region provide effective genomics solutions. Due to the increased focus on increasing genetic research and development activities and government on encouraging research in the field of genomics and drastically reduced mass-scale genetic testing costs within the region, Asia-Pacific is expected to see significant growth during the forecast period of 2022 to 2028. Active government backing, particularly in the United Kingdom and England, through research funding and genomic analysis, as well as research and academic institutes, is expected to help the business expand in Europe.
Global Genomics Market By Geography, 2021 - 2028
- Largest
- Fastest
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Global Genomics Market Dynamics
Genomics Market Driver
- Global 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 capturing the genomics market share.
- Government funding for genomics projects is increasing. According to the Economic Survey 2021-22, foreign direct investment (FDI) in the Indian pharmaceutical sector increased by 200 % in 2020-21. 'Genomics and Pharmaceuticals' are identified in the Union Budget 2022 as sunrise possibilities suitable for a supporting framework to strengthen local capacities and encourage R&D leading to drive the genomic market.
Genomics Market Restraints
- Professionals with expertise in genetics are needed. Market expansion is projected to be hampered by a scarcity of qualified personnel. Furthermore, the high cost of genomic equipment, as well as challenges with ensuring the storage of huge numbers of sequenced data, are expected to pose a challenge to the genomics industry in the years 2022-2028. The use of genomic data and technology offers the potential to enhance healthcare outcomes, quality, and safety while also saving money. In order to get the most benefit from this, highly skilled professionals are needed.
- In a single encounter, a genetic examination of a single patient can generate roughly 1 terabyte of data. Considering that genomics can be analyzed before or during diagnosis, as well as multiple times during treatment, and that it can be combined with lab data, clinical observations, tissue biopsy and other morphologic data, and imaging data, the amount of new data generated necessitates the development of roadmaps and big data for its integration.
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Global Genomics Market Competitive Landscape
The Global 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 2021, Genome Medical Announces the Acquisition of GeneMatters and the Closing of $60 Million Series C Financing.
Genomics Market Top Players Company Profiles
- Illumina, Inc. (US)
- Thermo Fisher Scientific (US)
- Qiagen N.V.
- BGI Group
- F. Hoffmann-La Roche AG
- Danaher Corporation
- Pacific Biosciences of California, Inc.
- Oxford Nanopore Technologies, Ltd.
- Agilent Technologies, Inc.
- Eurofins Scientific SE
- Bio-Rad Laboratories, Inc.
- Genewiz, Inc.
- Myriad Genetics, Inc.
- Fluidigm Corporation
- PerkinElmer, Inc.
- Twist Bioscience Corporation
- Natera, Inc.
- Veracyte, Inc.
- Personalis, Inc.
- 10x Genomics, Inc.
Genomics Market Recent Developments
- In June 2022, Chromosome-level and haplotype-resolved genome provides insight into the tetraploid hybrid origin of patchouli.
- In May 2021, Bio-Rad Launches the SEQuoia RiboDepletion Kit for Next-Generation Sequencing. SEQuoia RiboDepletion Kit is a stand-alone, post-library depletion kit that eliminate fragments derived from cytoplasmic ribosomal RNA (rRNA) and mitochondrial ribosomal RNA (mt rRNA) sequences from an RNA-Seq library. The ribosomal RNA is abundant, constituting 80–90% of total RNA.
Global Genomics Key Market Trends
- 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.
- Third-Generation Sequencing (TGS) marks the third revolution in sequencing technology. To stay up with the shifting trends, several firms began developing TGS technology. These new tools allow us to examine genomes in higher detail than ever before. Next-generation sequencing (NGS) has raised the bar in genomic research by allowing for high-throughput sequencing that is quicker, more efficient, and less expensive than Sanger sequencing.
Global Genomics Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, by deliverable, service segment held the largest market share in 2021 and is predicted to continue its dominance throughout the projection period because of emerging start-ups throughout the world. By Technology, the PCR contribute to largest share of more than 30% according to the forecast period. By End use, Hospital & Clinics accounted for maximum share of global Genomics market 2021 because of various uses in medical field. In 2021, North America dominated the Genomics market by contributing over 70% of the global Genomics market.
| Report Metric | Details |
|---|---|
| Market size value in 2021 | USD 27.81 billion |
| Market size value in 2030 | USD 33.25 billion |
| Growth Rate | 19.4% |
| Base year | 2021 |
| Forecast period | 2023-2030 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Genomics Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Genomics Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Genomics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Genomics Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Genomics Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Genomics Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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