Genomics Market to Grow with a CAGR of 18.25% through 2030

Growing importance of personalized medicines to drive the Genomics market in the forecast period, 2026-2030.

According to TechSci Research report, “Genomics Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2030”, the Global Genomics Market was valued at USD 34.51 billion in 2024 and is expected to reach USD 94.36 billion by 2030 with a CAGR of 18.25% during the forecast period. The increase in demand for specialized medicines and vast application in several fields are the primary factors driving the demand for the global genomics market. Growing advancement in diagnostic therapeutics and heavy investments in R&D activities are expected to influence the market demand. Also, the growing number of startups and rise in genetic and chronic diseases are also a key factor for increasing the growth of the genomics market, globally. However, the high cost of genomic equipment and lack of education about genomics are likely to hinder the growth of market. Additionally, stringent regulatory framework to develop new products is likely to hamper the growth of the market.in the forecast period.

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The global genomics market is segmented into products & services, technology, application, end user, regional distribution, and company.

Based on Technology, sequencing is the fastest-growing segment in the global genomics market. This category includes next-generation sequencing (NGS), whole-genome sequencing (WGS), whole-exome sequencing (WES), and long-read sequencing platforms. The rapid growth of sequencing is driven by the steep decline in sequencing costs and the expansion of large-scale genome projects worldwide. According to the U.S. National Human Genome Research Institute (NHGRI), the cost of sequencing a human genome has dropped from nearly USD 100 million in 2001 to under USD 600 in 2022. This cost-effectiveness has enabled sequencing to become routine in research, clinical diagnostics, and even public health surveillance.

Based on Region, Asia-Pacific region is projected to witness the fastest growth in the global genomics market. Several factors drive this momentum: large-scale population genomics projects, rising healthcare expenditures, expanding biotechnology hubs, and proactive government investments in precision medicine initiatives. China has become a global genomics powerhouse, with extensive national sequencing programs. The Chinese government has invested billions into genomics infrastructure through initiatives like the Precision Medicine Initiative (2016–2030), which aims to integrate genomics into public health, cancer treatment, and rare disease research. China is also home to major sequencing companies that serve both domestic and international demand.

Major operating companies operating in Global Genomics Market are:

• Illumina, Inc.
• Thermo Fischer Scientific, Inc.
• QIAGEN N.V.
• Agilent Technologies, Inc.
• F. Hoffmann-La Roche AG
• Bio-Rad Laboratories, Inc.
• Eurofins Scientific SE
• Oxford Nanopore Technologies Limited
• Pacific Biosciences of California, Inc.
• Danaher Corporation

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“North America region dominates the market and is expected to maintain its dominance in the coming years due to the availability of funds provided by both the government and companies researching molecular biology. Also, the rising burden of chronic diseases, genetic disorders and the presence of advanced healthcare infrastructure in the region are expected to propel the global genomics market growth till 2030” said Mr. Karan Chechi, Research Director of TechSci Research, a research based global management consulting firm.

“Genomics Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Products & Services (Systems & Software, Consumables, Service), By Technology (Sequencing, PCR, Nucleic Acid Extraction and Purification, Microarray, Others), By Application (Drug Discovery & Development, Diagnostics, Agriculture & Animal Research, Others), By End User (Hospitals & Clinics, Academic & Research Institutions, Biotechnology & Pharmaceutical Companies, Others), By Region and Competition, 2020-2030F”, has evaluated the future growth potential of global genomics 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 genomics market.

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