Precision Genomic Testing Market to Grow with a CAGR of 5.12% through 2030
The rising prevalence of genetic disorders and cancer and the
increasing adoption of personalized medicine are factors driving the Global Precision
Genomic Testing Market in the forecast period 2026-2030.
According to
TechSci Research report, “Precision Genomic Testing Market - Global Industry
Size, Share, Trends, Competition Forecast & Opportunities, 2030F”,
the Global Precision Genomic Testing Market stood at USD 15.51 Billion in 2024
and is anticipated to grow with a CAGR of 5.12% through 2030. Support from governments and research
organizations is playing a crucial role in expanding the precision genomic
testing market. Many countries have launched national genomics programs aimed
at integrating genetic testing into routine healthcare. Increased funding for
genomic research, collaborations between academia and industry, and regulatory
approvals for novel genetic tests are fostering market growth. In addition,
policies that promote reimbursement for genetic testing services are
encouraging greater adoption among patients and healthcare providers.
One
of the primary drivers of the precision genomic testing market is the
continuous evolution of genomic technologies. Innovations such as
next-generation sequencing (NGS), CRISPR gene editing, and whole-genome
sequencing have significantly improved the accuracy, speed, and affordability
of genetic testing. These technological advancements have expanded the
application of precision genomic testing beyond rare genetic disorders to
broader areas such as oncology, infectious diseases, and reproductive health.
Browse over XX market data Figures spread through XX Pages and an in-depth TOC on "Global Precision Genomic Testing Market”
The Global Precision
Genomic Testing Market is segmented into technology, product & Service, application,
end use, regional distribution, and company.
Based
on application, oncology has emerged as the dominating segment in the
Global Precision Genomic Testing Market in 2024. due to the increasing reliance
on genomic insights for cancer diagnosis, prognosis, and personalized treatment
strategies. The growing global cancer burden, coupled with advancements in
next-generation sequencing (NGS) and biomarker-driven therapies, has propelled
the demand for precision genomic testing in oncology. Physicians and
oncologists are increasingly utilizing these tests to identify genetic
mutations, hereditary cancer risks, and tumor-specific alterations that guide
targeted therapies, improving treatment outcomes while minimizing adverse
effects. Another key driver of this dominance is the rising adoption of liquid
biopsy techniques, which offer a non-invasive alternative to traditional tissue
biopsies. Liquid biopsies enable real-time monitoring of tumor evolution,
detecting minimal residual disease (MRD) and therapy resistance. The
integration of artificial intelligence (AI) and bioinformatics tools has
further enhanced the accuracy and efficiency of genomic analysis, enabling
precise patient stratification and more effective treatment planning. Additionally,
regulatory approvals and reimbursement support for companion diagnostics—tests
that help determine a patient’s suitability for specific cancer drugs—have
boosted the adoption of precision genomic testing in oncology.
In
2024, North America has emerged as the dominant region in the Global Precision
Genomic Testing Market, due to its advanced healthcare infrastructure, strong
R&D, and government support. The presence of leading biotech firms,
research institutions, and regulatory bodies like the NIH and FDA fosters
innovation. Rising cases of genetic disorders and cancer drive demand,
supported by favorable reimbursement policies. Technological advancements in
next-generation sequencing (NGS) and AI-driven genomic analysis further enhance
market growth. Additionally, increasing consumer awareness and the rise of
direct-to-consumer (DTC) genetic testing services boost adoption. Strong
collaborations and funding solidify North America’s leadership in precision
genomic testing.
Major companies
operating in the Global Precision Genomic Testing Market are:
- Danaher Corporation
- Merck
KGaA
- Revvity,
Inc.
- Maravai
LifeSciences
- GenScript
Biotech
- QIAGEN
N.V.
- PacBio
Biosciences Inc.
- Oxford
Nanopore Technologies plc.
- Illumina, Inc.
- 10x Genomics, Inc.
- Waters
Corporation
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“The global
precision genomic testing market is being driven by a combination of
technological advancements, the rise of personalized medicine, the growing
burden of genetic diseases, and strong governmental support. As the field
continues to evolve, its impact on healthcare, pharmaceuticals, and even
non-medical sectors is expected to be profound, ensuring sustained market
growth in the coming years”, said Mr. Karan Chechi, Research Director of
TechSci Research, a research-based management consulting firm.
“Precision Genomic Testing Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Technology (Next-Generation Sequencing, Polymerase Chain Reaction, Microarray Technology, Sanger Sequencing, CRISPR/Cas Systems, Others), By Product & Services (Consumables (Kits & Reagents), Equipment, Services), By Application (Oncology, Cardiovascular Diseases, Neurological Disorders, Reproductive Health, Rare Diseases, Others), By End-Use (Hospitals and Clinics, Diagnostic Laboratories, Research & Academic Institutes, Others), By Region and Competition 2020-2030F”, has evaluated the future growth potential of Global
Precision Genomic Testing Market and provides statistics & information on
market size, structure, and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in Global Precision
Genomic Testing Market.
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