NEW
YORK, Jan. 30, 2025 /PRNewswire/ -- Report with
the AI impact on market trends - The global genomics
market size is estimated to grow by USD
5.21 billion from 2024-2028, according to Technavio. The
market is estimated to grow at a CAGR of over 3.16%
during the forecast period. Rising investments in genomics research
and development is driving market growth, with a trend
towards advances in sequencing technologies.
However, varying regulations in genomics research and testing
poses a challenge. Key market players include 10X Genomics
Inc., Abcam plc, Agilent Technologies Inc., Becton Dickinson and Co., BGI Group, Bio Rad
Laboratories Inc., Danaher Corp., Eppendorf SE, F. Hoffmann La
Roche Ltd., Hamilton Bonaduz AG, Illumina Inc., Myriad Genetics
Inc., New England Biolabs Inc., Oxford Nanopore Technologies plc,
Pacific Biosciences of California Inc., Promega Corp., QIAGEN NV,
Standard BioTools Inc., Thermo Fisher Scientific Inc., and
PerkinElmer Inc.

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Genomics Market
Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
3.16%
|
Market growth
2024-2028
|
USD 5.21
billion
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
2.5
|
Regional
analysis
|
North America, Europe,
Asia, and Rest of World (ROW)
|
Performing market
contribution
|
North America at
33%
|
Key
countries
|
US, UK, Germany,
France, and China
|
Key companies
profiled
|
10X Genomics Inc.,
Abcam plc, Agilent Technologies Inc., Becton Dickinson and Co., BGI
Group, Bio Rad Laboratories Inc., Danaher Corp., Eppendorf SE, F.
Hoffmann La Roche Ltd., Hamilton Bonaduz AG, Illumina Inc., Myriad
Genetics Inc., New England Biolabs Inc., Oxford Nanopore
Technologies plc, Pacific Biosciences of California Inc., Promega
Corp., QIAGEN NV, Standard BioTools Inc., Thermo Fisher Scientific
Inc., and PerkinElmer Inc
|
Market Driver
The global genomics market is experiencing significant growth,
driven by trends in artificial intelligence (AI) and
bioengineering. Companies like Complete Genomics, Illumina, and
Singular Genomics Systems lead the way in next-generation
sequencing (NGS), while Eurofins Scientific and PCR Biosystems
focus on diagnostics. Cancer, chronic diseases, and rare disorder
diagnosis are key applications. Ethical issues and trade
regulations are important considerations. Bioengineering and
synthetic biology are revolutionizing gene therapy and personalized
medicine. Sensitive instruments, such as flow cytometry and
microarrays, are essential tools. Janssen, Life Sciences Vision,
Front Line Genomics, and Trivitron Healthcare are also significant
players. Raw material suppliers and trained professionals are
crucial for market expansion. Multi-omic-based approaches and the
diagnosis of viral diseases are emerging trends. Geographic
expansion and the integration of AI in genomics are future growth
opportunities.
The Human Genome Project (HGP) has played a pivotal role in
advancing our understanding of the human genome structure.
Next-generation genetic testing technologies, born from the HGP,
offer vendors valuable tools for managing comprehensive human
genome sets and deciphering genetic functions. These advancements
have revolutionized medical research, enabling the detection of
disease-causing mutations and gene variants. Additionally,
next-generation sequencing (NGS) has significantly reduced the cost
of genomics analysis and database management, making it more
accessible and affordable for researchers worldwide. NGS technology
has revolutionized the genomics market by facilitating large-scale
sequencing and offering insights into genetic variations that
contribute to various disorders.
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Market Challenges
- The global genomics market is experiencing significant growth
due to advancements in technologies like Next-Generation Sequencing
(NGS) and microarrays. Companies like Illumina, Complete Genomics,
and Eurofins Scientific lead the market. Challenges include ethical
issues, trade regulations, and the need for trained professionals.
AI and bioengineering are driving innovation in gene therapy and
synthetic biology. Cancer, chronic diseases, and rare disorder
diagnoses are major applications. Key players are expanding
geographically. Diagnostics, PCR Biosystems, Sensitive Instruments,
Front Line Genomics, and Trivitron Healthcare provide solutions.
Raw material suppliers and Life Sciences Vision are crucial
partners. Multi-omic-based approaches and NGS are revolutionizing
personalized medicine. Ethical issues and sensitivity to viral
diseases are concerns. Janssen and Singular Genomics Systems are
pioneering in cancer and gene therapy. Flow cytometry and
bioengineering are essential for cancer research. Bioengineering
and AI are crucial in cancer and chronic disease research. Cancer,
chronic diseases, and genetic disorders are primary applications.
Geographic expansion and regulatory compliance are key
challenges.
- The global genomics market presents both opportunities and
challenges for vendors due to varying regulatory standards and
compliances. With products used in highly regulated applications
like diagnostics, research, therapeutics, and drug discovery,
vendors face stringent requirements for accuracy, quality, safety,
and performance. Operating globally necessitates standardizing
products to meet the regulatory requirements of authorities such as
the US FDA, EMA, EAEMP, and ATGA. Ensuring compliance with these
agencies' guidelines is crucial for market success.
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Segment Overview
This genomics market report extensively covers market
segmentation by
- Solution
- 1.1 Products
- 1.2 Services
- Application
- 2.1 Diagnostic
- 2.2 Drug discovery
- 2.3 Precision medicine and others
- Geography
- 3.1 North America
- 3.2 Europe
- 3.3 Asia
- 3.4 Rest of World (ROW)
1.1 Products- The Genomics Market encompasses
instruments and consumables utilized in genomics research and
testing. Instruments include Polymerase chain reaction systems,
CRISPR-Cas systems, next-generation sequencers, and microarray
instruments, which perform nucleic acid extraction, isolation,
purification, gene cloning/amplification, high-throughput
sequencing, and gene expression. Vendors focus on advanced products
with features like LIMS compatibility, automation, high throughput,
and multiple read/run modes. Automation reduces hands-on time,
minimizes errors, and ensures high accuracy. Automated systems,
such as thermal cyclers, liquid handling systems, and sequencers,
are increasingly adopted. Fully automated workflows, like library
preparation workflows, are offered through partnerships. Automated
instruments ease the workload in genomics labs but have high
capital costs. Consumables include buffers, master mixes, kits,
primers, probes, reagents, dyes, and chemicals. Advances in
targeted sequencing, biomarker identification, and technologies
like CRISPR Cas9, NGS, and LCMS fuel market growth. Vendors benefit
from cost savings through NGS technology, which simplifies primer
and probe production, and the use of LCMS for characterization and
quantitation. CRISPR Cas9 offers customized genomic editing
solutions. These factors will drive the Global Genomics Market's
growth during the forecast period.
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Research Analysis
The Global Genomics Market is experiencing significant growth
due to advancements in Artificial Intelligence (AI) and
Bioengineering, leading to the development of innovative
technologies such as Next-generation Sequencing (NGS) and
Microarrays. These technologies are revolutionizing various
industries, including Cancer research, Diagnostics, and
Personalized Medicine, enabling the identification of genetic
markers for Chronic diseases, Rare Disorder Diagnosis, and Viral
diseases. Ethical issues surrounding the use of Genomic data and
the need for Trained professionals to interpret complex data are
key challenges. Geographic Expansion is a major trend, with
companies like Eurofins Scientific, Illumina, and Trivitron
Healthcare expanding their reach. Multi-omic-based approaches, Gene
therapy, Synthetic biology, and Flow cytometry are also driving
market growth. Companies like Complete Genomics, Front Line
Genomics, Janssen, Life Sciences Vision, PCR Biosystems, Singular
Genomics Systems, and others are at the forefront of these
developments. The market is expected to continue growing as these
technologies are applied to various applications, including Cancer
treatment, Chronic disease management, and the diagnosis of Genetic
disorders.
Market Research Overview
The Global Genomics Market is experiencing significant growth
due to advancements in Artificial Intelligence (AI) and
Bioengineering, leading to the development of innovative
technologies like Next-Generation Sequencing (NGS) and Microarrays.
These technologies are revolutionizing various sectors, including
Cancer research, Diagnostics for Chronic diseases, and Rare
Disorder Diagnosis. The market encompasses several areas such as
Gene therapy, Synthetic biology, and Sensitive Instruments,
providing solutions for Genetic disorders and Viral diseases.
Geographic Expansion is a key trend, with companies investing in
emerging markets to tap into untapped potential. Multi-omic-based
approaches are gaining popularity, integrating data from different
omics to provide a more comprehensive understanding of complex
diseases. Ethical issues surrounding the use of Genomic data and
Trade Regulations are areas of concern. Raw material suppliers, PCR
Biosystems, and trained professionals play crucial roles in the
value chain. Companies like Complete Genomics, Eurofins Scientific,
Illumina, Janssen, Life Sciences Vision, Singular Genomics Systems,
Trivitron Healthcare, and Front Line Genomics are leading the way
in this dynamic industry. Flow cytometry and Science Council are
also contributing significantly to the advancements in the
field.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Solution
-
- Application
-
- Diagnostic
- Drug Discovery
- Precision Medicine And Others
- Geography
-
- North America
- Europe
- Asia
- Rest Of World (ROW)
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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