Precision Genomic Testing Market (By Product: Consumables, Equipment; By Application: Oncology, Cardiovascular Diseases; By Technology; By End Use) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2024-2033

Precision Genomic Testing Market Size and Trends 

The global precision genomic testing market size was valued at USD 15.62 billion in 2023 and is anticipated to reach around USD 62.64 billion by 2033, growing at a CAGR of 14.90% from 2025 to 2034. Market growing is driven by the rising demand for personalized medicine, increasing prevalence of genetic disorders, and advancements in next-generation sequencing technologies, the Precision Genomic Testing Market is experiencing significant growth.

Key Pointers

• By region, North America dominated the global market with highest share of 43% in 2024.
• By region, Asia Pacific precision expected to expand at the highest CAGR of 20.29% from 2025 to 2034.
• By product and services, the consumables segment generated the maximum market share of 46% in 2024.
• By product and services, the services segment predicted to grow at the remarkable CAGR of 15.28% during the forecast period.
• By application, the oncology segment registered the maximum market share of 32% in 2024.
• By application, the neurological disorders segment is segment is expected to grow at the notable CAGR of 15.58% from 2025 to 2034.
• By technology, the next-generation sequencing segment captured the maximum market share of 33% in 2024.
• By technology, the microarray technology segment is expected to grow at the fastest CAGR of 15.48% throughout the forecast period.
• By end use, the hospitals and clinics contributed the largest market share of 51% in 2024.
  
  

Precision Genomic Testing Market Growth Factors

The precision genomic testing market is experiencing robust growth due the technological advancements, such as the development of next-generation sequencing (NGS) and high-throughput genomic platforms, are enhancing the accuracy and efficiency of genomic testing. These innovations enable more detailed and reliable genetic analysis, driving demand for precision diagnostics. Additionally, the increasing prevalence of genetic disorders and chronic diseases has heightened the need for precise and personalized medical interventions, further fueling market growth. Rising healthcare expenditures, particularly in developed economies, support the adoption of advanced genomic technologies, while expanding genomic databases contribute valuable insights into genetic variations and their health implications.

What are the Trends in Precision Genomic Testing Market?

• Advancement of Sequencing Technologies: Continuous improvements in sequencing technologies, such as next-generation sequencing (NGS) and single-cell sequencing, are enhancing the capabilities of genomic testing. These advancements enable more comprehensive and accurate genetic analysis, driving market growth.
• Integration with Artificial Intelligence (AI): The incorporation of artificial intelligence and machine learning into genomic testing processes is revolutionizing data analysis. AI algorithms enhance the interpretation of complex genetic data, improving diagnostic accuracy and predictive capabilities.
• Expansion of Personalized Medicine: The increasing shift towards personalized medicine is a major trend in the market. Healthcare providers are increasingly utilizing genomic testing to tailor treatments and preventive measures based on individual genetic profiles, which enhances treatment outcomes and patient satisfaction.
• Growth of Genomic Databases: The expansion of genomic databases, including large-scale biobanks and collaborative research initiatives, is fueling market growth. These databases provide a wealth of genetic information that supports research and improves the precision of genomic tests.
• Rise in Direct-to-Consumer (DTC) Testing: The growing popularity of direct-to-consumer genetic testing services is a notable trend. Consumers are increasingly seeking genetic insights for personal health and ancestry information, driving demand for accessible genomic testing solutions.

What are the Key Challenges Faced by Precision Genomic Testing Market?

• Data Integration and Interpretation: Integrating and interpreting vast amounts of genetic data can be challenging. Ensuring accurate and meaningful interpretation of genomic results requires advanced bioinformatics tools and expertise, which can be resource-intensive.
• Technical and Infrastructure Limitations: Implementing precision genomic testing requires sophisticated technology and infrastructure. Limited access to advanced genomic platforms and specialized laboratories can restrict the availability and quality of testing services.
• Health Disparities: Disparities in healthcare access and resources can affect the equitable distribution of precision genomic testing. Ensuring that advancements in genomic testing benefit all populations, including underserved and marginalized communities, is a key challenge.
• Complexity of Genetic Variations: The complexity of genetic variations and their implications for health can make it difficult to provide clear and actionable insights. Addressing this complexity requires ongoing research and development to enhance the accuracy and utility of genomic testing.

What is the Contribution of North America to Precision Genomic Testing Market?

North America led the precision genomic testing market, capturing a dominant share of 43% in 2024. led by key players like Illumina, Thermo Fisher Scientific, and QIAGEN. Innovations in NGS technologies and bioinformatics are driving market growth, enabling improved genomic analysis and personalized medicine applications. For instance, in June 2022, Labcorp recognized the growing significance of precision medicine and committed to expanding access to targeted and personalized treatments. These advancements support North America's leadership in genomic research and clinical applications, fostering collaborations between academic institutions, healthcare providers, and biotechnology firms.

The U.S. precision genomic testing market is set to grow over the forecast period, driven by increased collaborations between industry leaders and research institutions. For example, in May 2023, Pfizer and Thermo Fisher Scientific Inc. announced a partnership to expand the local availability of NGS-based testing for lung and breast cancer patients. Such collaborations stimulate innovation and expedite the development of advanced genomic technologies, enhancing diagnostic capabilities and personalized treatment options.

Europe Precision Genomic Testing Market Trends

The precision genomic testing market in Europe is expected to grow, supported by substantial investments in research and development. Increased funding is promoting advancements in genomic technologies and fostering innovation in diagnostics and personalized medicine across the continent.

In the UK, the market is projected to expand due to technological advancements. For instance, in June 2024, The Royal Marsden NHS Foundation Trust and Automata Technologies introduced robotic technology to aid genomic testing for cancer patients. This collaboration utilizes NGS and CRISPR gene editing technologies to enhance the accuracy and efficiency of genetic analysis for personalized medicine applications.

In Germany, the market is expected to grow due to advancements in genomic sequencing technologies. For example, in April 2023, CENTOGENE launched CentoGenome, a new whole genome sequencing solution designed to diagnose rare and neurodegenerative diseases. This innovative tool provides healthcare professionals with extensive diagnostic information, potentially speeding up access to treatment options.

Asia Pacific Precision Genomic Testing Market Trends

The Asia Pacific precision genomic testing market is anticipated to witness significant expansion, with a projected CAGR of 20.29% between 2025 and 2034. driven by significant investments in research and development. These investments are fostering technological innovations in genomic sequencing and diagnostics, enhancing the region's capabilities in personalized medicine and healthcare solutions.

In China, the market is expected to grow, supported by global expansion efforts and strategic partnerships. For example, in December 2023, Illumina and HaploX launched the first NextSeq genetic sequencing system in China. This milestone highlights their strategic partnership and enhances access to advanced genomic technologies, supporting China’s aim to strengthen its position in personalized medicine and global healthcare innovation.

Products Insights

The consumables segment held the largest market share, accounting for 46% in 2024. This growth is driven by the introduction of new products and technological advancements. Key players are launching innovative consumables, such as reagents, kits, and assay components, specifically designed for genomic sequencing and analysis. Recent innovations include enhanced sample preparation techniques and high-throughput sequencing technologies that boost the efficiency and precision of genomic testing. For example, in May 2024, QIAGEN released a new library preparation kit aimed at advancing multiomics studies and precision medicine. This kit simplifies the preparation of DNA and RNA libraries for next-generation sequencing (NGS), including whole genome sequencing (WGS) and whole transcriptome sequencing, and enables streamlined target enrichment from a single sample.

The services segment is projected to register the highest CAGR of 15.28% in the market from 2025 to 2034. Companies are broadening their offerings to include genetic counseling, genomic data interpretation, and clinical trial support, catering to healthcare providers, pharmaceutical companies, and research institutions seeking expert advice on genomic testing strategies.

Application Insights

The oncology segment led the market, capturing a significant share of 32% in 2024. driven by advancements in cancer genomics. Innovations such as liquid biopsy techniques, comprehensive genomic profiling, and targeted therapy development are improving early detection, diagnosis, and personalized cancer treatment. For instance, in November 2023, Illumina Inc. launched its latest distributed liquid biopsy, TruSight Oncology, a research assay for noninvasive comprehensive genomic profiling of circulating tumor DNA from blood. This assay offers an alternative when tissue testing is not possible or complements tissue-based tests.

The neurological disorders segment is projected to register the highest CAGR of 15.58% during the forecast period from 2025 to 2034. thanks to advancements in genomic technologies and increased investment. For example, in May 2023, the NIH announced a USD 140 million initiative to study genetic variation in normal human cells and tissues. Technologies like NGS and CRISPR are enabling more precise identification of genetic mutations linked to neurological conditions such as Alzheimer's, Parkinson's, and epilepsy. The substantial investment in research and development is further advancing specialized genomic tests, enhancing early diagnosis, personalized treatment options, and overall patient care in this segment.

Technology Insights

The next-generation sequencing segment accounted for the largest market share at 33% in 2024. fueled by ongoing innovation and strategic partnerships. Advances in NGS technology are enhancing sequencing speed, accuracy, and cost-effectiveness, supporting comprehensive genomic profiling. Collaborations between biotech firms, research institutions, and healthcare providers are accelerating the development and adoption of NGS-based tests. For example, in January 2023, QIAGEN and Helix partnered to advance NGS companion diagnostics for hereditary disorders, utilizing Helix's Laboratory Platform and QIAGEN’s NGS expertise. These partnerships facilitate the translation of cutting-edge research into clinical applications, driving market growth and improving personalized medicine approaches.

The microarray technology segment is projected to experience the fastest CAGR of 15.48% throughout the forecast period. driven by technological advancements. Modern microarray platforms offer higher resolution and greater accuracy, enabling thorough analysis of genetic variations and gene expression. These improvements facilitate the identification of disease-associated genes and biomarkers, promoting the use of microarray-based tests in research and clinical settings. The continuous evolution of microarray technology is expanding its applications in personalized medicine and supporting robust growth in this market segment.

End Use Insights

The hospitals and clinics held the largest revenue share in the market, accounting for 51% in 2024.  supported by increased funding and the growing prevalence of genetic disorders. Government initiatives and private investments are enhancing the infrastructure and capabilities of healthcare facilities. As the incidence of genetic disorders rises, hospitals and clinics are increasingly adopting precision genomic testing to provide accurate diagnoses and personalized treatment plans. This trend is driving the expansion of genomic testing services within clinical settings.

The diagnostic laboratories segment is expected to witness the highest CAGR during the forecast period. driven by technological advancements, ongoing research, and increased demand for clinical testing of genetic disorders. Diagnostic labs are integrating sophisticated genomic technologies, such as NGS and advanced bioinformatics, to enhance diagnostic accuracy and efficiency. This sector's growth is fueled by the need for precise genetic analysis in disease diagnosis and treatment planning, addressing the increasing incidence of genetic disorders and supporting personalized medicine approaches.                                            

Who are the Top Manufactures in Precision Genomic Testing Market?

• Illumina, Inc.
• Color Genomics, Inc.
• Amgen, Inc.
• 24 genetics
• Circle DNA
• F. Hoffmann-La Roche Ltd.
• Thermo Fisher Scientific Inc.
• AncestryDNA
• Agilent Technologies, Inc.
• QIAGEN N.V.

Recent Developments

• In July 2024, Phenomix Sciences and Hello Alpha announced a partnership to deliver personalized genetic testing for obesity, with a focus on women's health. Hello Alpha, a virtual primary care platform, is dedicated to empowering women by offering accessible, affordable, and confidential online healthcare services.
• In January 2024, Myriad Genetics, Inc. expanded its capabilities by acquiring assets from IPG Laboratory, including the St. George, Utah facility. This acquisition enables Myriad to integrate the Precise Tumor and Precise Liquid tests into its offerings, creating new opportunities for innovation and growth.
• In February 2024, Exact Sciences Corp., known for its cancer screening and diagnostic tests, introduced the Riskguard cancer test in the U.S. The Riskguard test provides individualized reports detailing gene-specific and familial risks for ten common cancers.

Precision Genomic Testing Market Segmentation:

By Product

• Consumables
  • Kits
  • Reagents
  • Plasmids
• Equipment
• Services

By Application

• Oncology
• Cardiovascular Diseases
• Neurological Disorders
• Reproductive Health
• Rare Diseases
• Others

By Technology

• Next-Generation Sequencing
• Polymerase Chain Reaction
• Microarray Technology
• Sanger Sequencing
• CRISPR/Cas Systems
• Others

By End Use

• Hospitals and Clinics
• Diagnostic Laboratories
• Research & Academic Institutes
• Others

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• MEA