Genomics Market: Size, Restraints, Drivers, Trends, and Analysis 2024-2033

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Overview and Scope

The study of genomes is called genomics. Single-cell genomics is an innovative method of classifying individual cells from a tissue sample, capable of defining unique traits and identifying rare cell types. Genomics is used in different fields of study, such as intragenomic phenomena such as pleiotropy, epistasis, heterosis, and other interactions between loci and alleles within the genome.

Sizing and Forecast

The genomics market size has grown rapidly in recent years. It will grow from $38.7 billion in 2023 to $45.95 billion in 2024 at a compound annual growth rate (CAGR) of 18.7%. The growth in the historic period can be attributed to reduction in sequencing costs, research and discovery, healthcare applications, personalized medicine.

The genomics market size is expected to see rapid growth in the next few years. It will grow to $93.79 billion in 2028 at a compound annual growth rate (CAGR) of 19.5%. The growth in the forecast period can be attributed to growing awareness and education, drug development and therapeutics, diagnostic applications, regulatory and ethical frameworks. Major trends in the forecast period include technological advancements, genomic sequencing in agriculture, collaboration and partnerships, genomic data analytics.

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Segmentation & Regional Insights

The genomics market covered in this report is segmented –

1) By Product Type: Instrument (Including Systems, Service Contract And Software), Reagents (Including Reagents And Consumables)

2) By Process: Cell Isolation, Sample Preparation, Genomic Analysis

3) By End User: Academic Institutes, Biopharmaceutical Companies, Clinical Research Institutes

North America was the largest region in the genomics market in 2023. Western Europe was the second largest region in the genomics market. The regions covered in the genomics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth

Rising government funds for research on genomics drives the growth of the single-cell genomics market. The government funding focuses on efforts to resolve the complexity of the human genome, define the genomic basis of human health and disease, and ensure that genomics is used safely to enhance patient care and benefit society through government, public and private institutions. For instance, in April 2021, US government announced an investment of $1.7 billion for improving the detection, monitoring, and reduction of SARS-CoV-2 variants and to improve infrastructure for further genomic sequencing. The funds were announced through the American Rescue Plan. The funding would be distributed through three separate initiatives at different times.

Key Industry Players

Major companies operating in the genomics market include 10X Genomics Inc., Qiagen NV, Standard BioTools Inc., Johnson and Johnson, Illumina Inc., Affymetrix Inc., Angle plc, Denovo Sciences Inc., Diagnologix LLC, DNA Electronics Ltd., Epic Sciences, Kellbenx Inc., Resolution Bioscience Inc., Wafergen Bio-systems Inc., Yikon Genomics Co. Ltd., Thermo Fisher Scientific Inc., Beckman Coulter Inc., Becton, Dickinson and Company, Bio-Rad Laboratories Inc., Carl Zeiss Microscopy GmbH, Cell Microsystems Inc., CellSorter, CYTENA GmbH, Dolomite Bio Limited, Agilent Technologies Inc., Fluxion Biosciences Inc., BGI Group, F. Hoffmann-La Roche AG, Oxford Nanopore Technologies Ltd., Pacific Biosciences of California Inc., Eurofins Scientific SE, Danaher Corporation, PerkinElmer Inc.

The genomics market report table of contents includes: