The global Genomics market size is expected to be worth around US$ 63.9 billion by 2030, according to a new report by Vision Research Reports.
The global Genomics market size was valued at US$ 20.5 billion in 2020 and is anticipated to grow at a CAGR of 15.40% during forecast period 2021 to 2030.
A rise in the demand for the solutions to catalog vast genomic information into a usable form and to utilize it in clinical workflows is expected to drive the market.
This has also led to an increase in the market competition, coupled with the development of breakthrough genomic technologies by Veritas Genetics, 23andMe, and other key players. In August 2020, Ancestry launched a new next-generation sequencing-based tool to screen genes linked to blood disorders, colon cancer, heart diseases, and breast cancer. This product, developed by Quest Diagnostics, has a better DNA analysis efficiency when compared to microarray-based testing.
Technological advancements in genetic technologies that include CGH, FISH, karyotyping, sequencing, and gene-editing tools have played a pivotal role in reshaping the healthcare systems and basic biomedical research. Furthermore, despite several ethical and legal issues, Direct-To-Consumer solutions are one of the most important innovations in the market for genomics as they help patients to perform genetic tests on their own.
The cost of reagents used in genomics has witnessed a continuous decline, which has led to an increase in adoption among small and mid-sized laboratories. However, with the introduction of novel technology and systems, the requirement for reagents is also changing.
The market has witnessed multiple product launches in 2020 owing to a rise in competition for the development of genomic testing solutions for COVID-19. For instance, in December 2020, ThermoFisher launched Applied Biosystems TaqCheck SARS-CoV-2 Fast PCR Assay—a new saliva-based PCR test for the detection of COVID-19 infection. Similarly, in June 2020, Cepheid announced the development of the Xpert Xpress SARS-CoV-2/Flu/RSV four-in-one test, which can detect these four pathogens from a single sample. This test can be run on Cepheid’s GeneXpert Systems.
Functional genomics held the largest revenue share of 32.0% in 2020. Real-time PCR was the dominant revenue generator within functional genomics. Real-time quantitative PCR has played a major role in the absolute quantification of genetic elements in genomic DNA. This technology has been employed to evaluate the use of tissue genomic DNA as a universal external standard for accelerating quantification of any target sequence in the genome of various species.
The use of this technology in combination with reverse transcription PCR enables quantification of low-abundance mRNA, which, in turn, allows researchers to quantify relative gene expression at a particular time. Since this technology is observed to be more sensitive than array technology, when it comes to the detection of small changes in gene expression, its adoption rate is continuously growing. However, it requires more input and is found to be less adaptable in high-throughput studies.
Pathway analysis is expected to register the fastest CAGR from 2021 to 2028. Investigation of how individual targets communicate and respond within the molecular networks has helped elaborate the functioning of biological processes at a cellular level. Hence, pathway analysis has become an integral aspect of drug development and life sciences research. The research community uses pathway analysis to improve fundamental understanding of cellular and molecular biology.
The products segment dominated the market in 2020 with a revenue share of 69.3%. Continuous launch of nucleic acid extraction reagents and kits by key manufacturers is driving the revenue generation in the segment. For instance, in June 2020, Omega Bio-tek, Inc. introduced the Mag-Bind Viral RNA Xpress Kit for reliable and rapid viral RNA isolation from nasopharyngeal swab samples.
This introduction of a new kit helps overcome the scarcity of RNA purification kits that are used in the testing of COVID-19. Similarly, in April 2020, PHASE Scientific announced the global release of the PHASIFY VIRAL RNA Extraction Kit that is used to help in the detection and control of coronavirus. This kit allows purification and concentration of the viral nucleic acid in Viral Transport Media (VTM) samples of patients.
Similarly, in October 2020, QIAGEN NV announced the future launch of a novel kit to simplify and accelerate PCR-based analysis of COVID-19 and other RNA-based viruses. Such advancements in product offerings are anticipated to augment organic revenue generation in the market.
On the other hand, key players are acquiring smaller companies to advance their products in accordance with the latest technologies. For instance, in June 2020, Illumina, Inc. acquired Bluebee to boost genomic analysis. The cloud capability of Bluebee is expected to help in reducing the costs of sharing, storing, and managing genomic data in new products.
Pharmaceutical and biotechnology companies held the largest share of 60.3% in 2020. Genomic technologies are witnessing high demand from pharmaceutical and biotechnology companies owing to the increasing number of genetic research studies. As genomics plays a crucial role in drug discovery and development, several drug developers are employing genomic techniques to ease and improve the process.
For the past few years, direct-to-consumer genomic tests are being offered by companies, resulting in the changing of business models. Personal genomics companies are generating genomics data to offer to pharmaceutical companies. With convenient data analysis and the availability of cheaper data acquisition, several new players have entered the genomics services market to meet the growing demand.
Furthermore, the market is witnessing increased demand for advanced gene-editing tools from biotechnology companies. Biotechnology companies are entering into strategic alliances or licensing partnerships to avail of this technology. For instance, in October 2020, Merck licensed CRISPR technology to Takara Bio USA, Inc. and PanCELLa, Canada. These licenses are aimed to boost the development of new therapies by improving drug discovery.
Similarly, in January 2020, New England Biolabs signed an agreement with ERS Genomics Limited for the commercialization of CRISPR gene editing reagents and tools. Thus, the market is witnessing increased adoption of genomic technologies by pharmaceutical and biotechnology companies.
North America dominated the market with a share of 36.7% in 2020 owing to an increase in the number of research programs, a high number of strategic partnerships, and a rise in regulatory approvals by the U.S. FDA. Changing regulations for reimbursement and usage are anticipated to further propel the adoption of genetic tests in this region.
In January 2020, Color Genomics, Inc., in collaboration with NorthShore University HealthSystem, completed the delivery of clinical genomics in routine care under its U.S. program. The company has also supported Sanford's genomics program, Imagenetics, to improve clinical decision-making.
Asia Pacific is witnessing an increasing adoption of genomic technologies owing to the initiation of various research programs. The GenomeAsia 100K Project is one such project that includes whole-genome sequencing (WGS) to enable genetic discoveries across Asia. The study covered four different countries from Asia.
Moreover, supportive regulatory bodies are contributing to the market growth by increasing the number of approvals. In February 2020, the National Cancer Center (NCC) Japan collaborated with Foundation Medicine, along with Chugai Pharmaceutical, Ltd., to use FoundationOneLiquid in the third stage of Japan’s cancer genomic screening consortium. This enhanced the growth of the genomic testing services market in Japan.
Thermo Fisher Scientific, Inc.
Beijing Genomics Institute (BGI)
F. Hoffmann-La Roche Ltd.
Oxford Nanopore Technologies
Pacific Biosciences of California, Inc.
Myriad Genetics, Inc.
Application & Technology Outlook
Proteomics Tools (2-D PAGE; yeast 2-hybrid studies)
Chromatin Immunoprecipitation (ChIP & ChIP-Seq)
Methylated DNA Immunoprecipitation (MeDIP)
High Resolution Melt (HRM)
Chromatin Accessibility Assays
Consumables & Reagents
Core Genomics Services
Biomarker Translation Services
Pharmaceutical and Biotechnology Companies
Hospitals and Clinics
Academic and Government Institutes
Other End Users
Middle East and Africa (MEA)
The Genomics market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Genomics market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Genomics market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Genomics market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Genomics market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Genomics capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Genomics by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Genomics market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Genomics market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Genomics market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Genomics industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Genomics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Genomics market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Genomics market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Genomics market. These factors have benefited the growth of the global market for Genomics. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Genomics. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Genomics are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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