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Genomics Market Size, Share, Outlook

Genomics Market Size, 2023- Forecasts and Opportunities in the Genomics Industry by Type (Consumables, Instrumentation and Services), Technology (Sequencing, PCR, Nucleic Acid Sample Preparation, Others), End-User (Hospitals and Clinics, Pharmaceutical and Biotechnology Companies, Clinical Research and Academic & Government Institutes, Others), Companies and Countries to 2030

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  • |Published Month : February, 2024
  • |No. of Pages : 203

Technological advancements in the Genomics field is supporting its widespread adoption across end-user industries. The Genomics industry analysis report provides forecasts across different genomics types including consumables, instruments, and services. Further, technology insights across Sequencing, PCR, Nucleic Acid Sample Preparation, and Others is included in detail. In addition, the adoption of genomics across end-user industries including Hospitals and Clinics, Pharmaceutical and Biotechnology Companies, Clinical Research and Academic and Government Institutes, and Others is forecast to 2030. Further, leading companies and their product profile, and forecasts of 25 plus countries is included in the Genomics research study.

 

Genomics Market Study Highlights, 2023

  • The global Genomics Market Size stood at US$ 30.8 billion in 2022 and is poised to register 16.4% growth over the forecast period from 2023 to 2030
  • The Consumables segment forms the largest type of Genomics market with a 58% market share. Other key types of Genomics analyzed in the report include Instrumentation, software, and Services.  
  • Among different application types, Hospitals and Clinics, Pharmaceutical and Biotechnology Companies, Clinical Research, and Academic & Government Institutes, and Others are analyzed. Of these, Pharmaceutical and Biotechnology Companies application stood as the dominant users of Genomics in value terms
  • Driven by rapid adoption across pharmaceutical and biotechnology companies, North America dominates the global Genomics market with highest market share in value terms.
  • Among different genomics technologies analyzed in the report, Sequencing dominated the global markets with dominant market share. Further, PCR, Nucleic Acid Sample Preparation, and Others are included
  • Key market driving forces including government funding for genomics projects, rising prevalence of chronic diseases, use of genomics in personalized medicine, foray of new players, increase in demand for consumables, ongoing focus on emerging countries, and increasing geriatric population are identified among the main market dynamics
  • On the other hand, challenges associated with limited skilled professionals observed in developing countries, and safety concerns restrict the market growth
  • The market is relatively concentrated in nature with intense competitive conditions among leading market players. Intense competitive conditions exist among large conglomerates, resulting in increased mergers and acquisitions activities.

 

Genomics Market Outlook to 2030

Genomics Market Outlook to 2030

Genomics Market Overview

The genomics field is one of the fastest-growing markets in the global healthcare industry, with rapid adoption across developing and developed markets. Technological advancements in the industry are encouraging the wide adoption of genomics equipment and consumables.

As the field of genetic engineering continues to evolve driven by the rapid pace of data gathering and analysis and lowering costs, the industry presents significant growth over the forecast period. Genomics remains a major contributor to the advancement of modern medicine and treatment and enables diverse scientific discoveries that improve human health.

In particular, trends toward personalized medicines support the demand for high-quality genomics. As personalized medicine requires the availability of an extensive collection of samples with well-documented data, the demand for genomics in personalized medicine continues to witness rapid growth.

The market is fairly consolidated with the domination of a few companies having a presence across the value chain. In addition, several small and medium companies offer consumables, services, software, and other products.

The majority of the large-scale integrated system providers are expanding their product portfolio including software and informatics platforms, sequencing, PCR, and other instruments, consumables, services, and others.

In addition to R&D investments, and cloud storage systems, companies opt for product launches, partnerships, and collaboration strategies to expand their businesses. Further, Collaborations between leading players such as Illumina, Thermo Fischer Scientific, and others are likely to strengthen the market outlook.

On the other hand, strengthening the distribution network remains a major expansion strategy for companies. Merck, Agilent, and other companies are focusing on expansion in developed markets such as the UK and the US. Further, BGI China and other players are emphasizing expanding their distribution networks across Latin America, emerging Asia, and other markets to offer products at competitive prices.

The market growth is driven by government funding for genomics projects, rising prevalence of chronic diseases, use of genomics in personalized medicine, foray of new players, increase in demand for consumables, and other driving factors. On the other hand, challenges associated with limited skilled professionals observed in developing countries, safety concerns, and others restrict the market growth.

 

Genomics Market Trend - Use of genomics in personalized medicine

The global personalized medicine market is a rapidly expanding area in the healthcare industry, with several large companies such as Abbott, Danaher Corp, Biogen, GE Healthcare, Illumina, IBM, Genentech, Pfizer, Medtronic, and others emphasizing widening their product and service offerings. The rapidly increasing personalized medicine industry supports the potential for genomics.

Genomics has been identified as a key area for development to accelerate the discovery and development of new drugs, in particular, in the personalized medicine sector. Genomics form an integral contributor to personalized medicine, providing support for customized treatment tailored to individual patients.

The personalized medicine market stood at $512 billion in 2021 and is expected to register over 6.8% CAGR over the forecast period from 2022 to 2030. The potential for personalized medicine to transform clinical practice due to advances in the field, sophisticated diagnostic technologies, improved understanding of disease heterogeneity, acceleration in the fields of data generation, and personalization of the healthcare ecosystem including data, genetics in R&D, and other fields.

 

Genomics Market Opportunities- Foray of new players

The foray of a large number of small and medium scale companies into the genomics industry presents strong growth scope for the industry over the medium to long term future. Several small and medium-sized enterprises and research institutions are outsourcing their operations, which presents significant scope for new entrants.

With the widening application of genomics, new companies are emerging across the industry. In particular, a large volume of research is focused on human genetic disorders and drug discovery.

In addition, new fields of enhanced forensics, agriculture, microbes and microbiomes, and veterinary and other fields are witnessing the rapid foray of new entrants.

MGI, iCarbonX, Quantgene, Lumminary, GenomiQa, Zenome, TruGenomix Health, Avail Bio, Inc., Cognitive Genetics Inc, MedGenome, SeqOne Genomics, and others continue to expand in the industry.

Leading companies such as Illumina continue to invest in start-ups such as BiotaX Labs LTD, Broken String Biosciences Limited, Mitra Bio Limited, MultiplAI Health LTD, Doloromics Inc, Flightpath Biosciences, Inc, Oshun Medical Inc, Parallel Health Inc, and Rubik Therapeutics, Inc.

The advent of small-scale companies across different segments of genomics fields supports the market outlook. 

 

Genomics Market Share Analysis- Increase in Demand for Consumables

Rapid growth in the consumables including custom nucleic acid products across diverse genomics applications including next-generation sequencing, CRISPR genome editing, qPCR, and RNA interference supports the market growth.

Genomics Market Share by Consumables, Instrumentation, Services

The growing demand for consumables is encouraging the commercial growth of genetic testing. Further, declining pricing of these testing procedures is encouraging increased volumes, thereby supporting further demand for consumables.

Robust demand across various applications of genetic testing including academic and commercial research, agriculture, medical diagnostics, and pharmaceutical development is encouraging the market for application-specific consumables.

 

 

Disposable Endoscopy Market Segmentation

Types

  • Consumables
  • Instrumentation and Services

Technology

  • Sequencing
  • PCR
  • Nucleic Acid Sample Preparation
  • Others

End-Users

  • Hospitals and Clinics
  • Pharmaceutical and Biotechnology Companies
  • Clinical Research and Academic & Government Institutes
  • Others

Regions

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Companies Profiled in the Research study-

  • Illumina
  • Danaher Corp
  • F.Hoffman-La Roche
  • Agilent Technologies
  • Thermo Fisher Scientific
  • Qiagen
  • BGI Group
  • Bio-Rad Laboratories

1. Executive Summary

1.1 Introduction to Genomics Markets

1.2 Genomics Market Size Outlook, 2021- 2030

1.3 Growth Opportunities in Genomics Industry

1.4 Winning Strategies for the post-pandemic future

 

2. Report Guide

2.1 Market Definition and Scope

2.2 Market Segmentation

2.3 Research Methodology

2.4 Forecast Methodology

2.5 List of Abbreviations

 

3. Growth Opportunity Analysis

3.1 Key Genomics Market Trends

3.1.1 Government funding for Genomics projects

3.1.2 Use of genomics in personalized medicine

3.1.3 Foray of New players       

 

3.2 Key Genomics Market Growth Drivers

3.2.1 Rising Prevalence of Chronic Diseases

3.2.2 Increase in Demand for Consumables

3.2.3 Increasing Geriatric population and growing healthcare expenditures

 

3.3 Key Genomics Market Growth Restraints

3.3.1 Dearth of skilled professionals in developing countries

3.3.2 Safety Concerns of Data

 

4 Genomics Market Outlook – Scenario Analysis

4.1 Low Growth Case Scenario Forecasts: Genomics Market Size Outlook to 2030

4.2 Reference Growth Case Scenario Forecasts: Genomics Market Size Outlook to 2030

4.3 High Growth Case Scenario Forecasts: Genomics Market Size Outlook to 2030

 

5. Genomics Market Segmentation- Outlook by Type

5.1 Genomics Market Share Analysis by Type, 2023

5.2 Consumables Market Outlook to 2030

5.3 Instrumentation and Services Market Outlook to 2030

 

6. Genomics Market Segmentation- Outlook by Technology

6.1 Genomics Market Share Analysis by Technology, 2023

6.2 Sequencing: Genomics Market Outlook to 2030

6.3 PCR: Genomics Market Outlook to 2030

6.4 Nucleic Acid Sample Preparation Genomics Market Outlook to 2030

6.5 Other Genomics Market Outlook to 2030

 

7. Genomics Market Segmentation- Outlook by Application

7.1 Genomics Market Share Analysis by Application, 2023

7.2 Hospitals and Clinics: Genomics Market Outlook to 2030

7.3 Pharmaceutical and Biotechnology Companies: Genomics Market Outlook to 2030

7.4 Clinical Research and Academic & Government Institutes Preparation Genomics Market Outlook to 2030

7.5 Other End-Users Market Outlook to 2030

 

8. North America Genomics Market Outlook and Opportunities to 2030

8.1 Market Snapshot, 2023

8.2 North America Genomics Market Growth Opportunities

8.2.1 North America Genomics Market Outlook by Type, 2021 to 2030

8.2.2 North America Genomics Market Outlook by Application, 2021 to 2030

8.2.3 North America Genomics Market Outlook by Country, 2021 to 2030

8.3 United States Genomics Market Outlook, 2021 to 2030

8.4 Canada Genomics Market Outlook, 2021 to 2030

8.5 Mexico Genomics Market Outlook, 2021 to 2030

 

9. Europe Genomics Market Outlook and Opportunities to 2030

9.1 Market Snapshot, 2023

9.2 Europe Genomics Market Growth Opportunities

9.2.1 Europe Genomics Market Outlook by Type, 2021 to 2030

9.2.2 Europe Genomics Market Outlook by Application, 2021 to 2030

9.2.3 Europe Genomics Market Outlook by Country, 2021 to 2030

9.3 Germany Genomics Market Outlook, 2021 to 2030

9.4 France Genomics Market Outlook, 2021 to 2030

9.5 United Kingdom Genomics Market Outlook, 2021 to 2030

9.6 Spain Genomics Market Outlook, 2021 to 2030

9.7 Italy Genomics Market Outlook, 2021 to 2030

9.8 Other Europe Genomics Market Outlook, 2021 to 2030

 

10. Asia Pacific Genomics Market Outlook and Opportunities to 2030

10.1 Market Snapshot, 2023

10.2 Asia Pacific Genomics Market Growth Opportunities

10.2.1 Asia Pacific Genomics Market Outlook by Type, 2021 to 2030

10.2.2 Asia Pacific Genomics Market Outlook by Application, 2021 to 2030

10.2.3 Asia Pacific Genomics Market Outlook by Country, 2021 to 2030

10.3 China Genomics Market Outlook, 2021 to 2030

10.4 Japan Genomics Market Outlook, 2021 to 2030

10.5 India Genomics Market Outlook, 2021 to 2030

10.6 South Korea Genomics Market Outlook, 2021 to 2030

10.7 Indonesia Genomics Market Outlook, 2021 to 2030

10.8 Other Asia Pacific Genomics Market Outlook, 2021 to 2030

 

11. South and Central America Genomics Market Outlook and Opportunities to 2030

11.1 Market Snapshot, 2023

11.2 South and Central America Genomics Market Growth Opportunities

11.2.1 South and Central America Genomics Market Outlook by Type, 2021 to 2030

11.2.2 South and Central America Genomics Market Outlook by Application, 2021 to 2030

11.2.3 South and Central America Genomics Market Outlook by Country, 2021 to 2030

11.3 Brazil Genomics Market Outlook, 2021 to 2030

11.4 Argentina Genomics Market Outlook, 2021 to 2030

11.5 Other Latin America Genomics Market Outlook, 2021 to 2030

 

12. Middle East and Africa Genomics Market Outlook and Opportunities to 2030

12.1 Market Snapshot, 2023

12.2 Middle East and Africa Genomics Market Growth Opportunities

12.2.1 Middle East and Africa Genomics Market Outlook by Type, 2021 to 2030

12.2.2 Middle East and Africa Genomics Market Outlook by Application, 2021 to 2030

12.2.3 Middle East and Africa Genomics Market Outlook by Country, 2021 to 2030

12.3 Saudi Arabia Genomics Market Outlook, 2021 to 2030

12.4 United Arab Emirates (the UAE) Genomics Market Outlook, 2021 to 2030

12.5 Other Middle East Genomics Market Outlook, 2021 to 2030

12.6 Egypt Genomics Market Outlook, 2021 to 2030

12.7 South Africa Genomics Market Outlook, 2021 to 2030

12.8 Other Africa Genomics Market Outlook, 2021 to 2030

 

13. Profiles of major world Genomics Companies

13.1 Illumina

- Key Statistics

- Business Operations

- Products and Services Offered

- SWOT Analysis

- Financial Profile

13.2 Danaher Corp

- Key Statistics

- Business Operations

- Products and Services Offered

- SWOT Analysis

- Financial Profile

13.3 F.Hoffman-La Roche

- Key Statistics

- Business Operations

- Products and Services Offered

- SWOT Analysis

- Financial Profile

13.4 Agilent Technologies

- Key Statistics

- Business Operations

- Products and Services Offered

- SWOT Analysis

- Financial Profile

13.5 Thermo Fisher Scientific

- Key Statistics

- Business Operations

- Products and Services Offered

- SWOT Analysis

- Financial Profile

13.6 Qiagen

- Key Statistics

- Business Operations

- Products and Services Offered

- SWOT Analysis

- Financial Profile

13.7 BGI Group

- Key Statistics

- Business Operations

- Products and Services Offered

- SWOT Analysis

- Financial Profile

13.8 Bio-Rad Laboratories

- Key Statistics

- Business Operations

- Products and Services Offered

- SWOT Analysis

- Financial Profile

- Financial Profile

 

14. Appendix

14.1 Publisher’s Expertise

14.2 List of Tables and Charts

14.3 List of Exhibits

14.4 Legal Disclaimer                     

Frequently Asked Questions

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