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Analyzing the Growth Rate of the Genomics Market: What’s the Expected CAGR for the Next Decade?

The dimensions of the genomics market have experienced swift expansion in the past few years. An increase from $45.47 billion in 2024 to $53.92 billion in 2025 is projected, corresponding to a compound annual growth rate (CAGR) of 18.6%. The substantial growth during the historical period can be credited to factors like dwindling sequencing costs, research and developmental activities, healthcare implementations, and the rise of personalized medicine.

In the coming years, the genomics market is anticipated to experience skyrocketing growth, reaching a projected $112.78 billion in 2029, with a compound annual growth rate (CAGR) of 20.3%. The surge during the forecast period is primarily attributed to an increase in awareness and education, advancements in drug development and therapeutics, diagnostic applications, as well as regulatory and ethical frameworks. The forecast period will also witness major trends such as technological progress, genomic sequencing in the agricultural sector, collaboration and partnerships, and genomic data analytics.

What Are the Primary Drivers Supporting the Growth of the Genomics Market?

The acceleration of the single-cell genomics market is propelled by increasing governmental investments into genomics research. Such funding is primarily concentrated on unraveling the intricacies of the human genome, elucidating the genomic foundations of human health and illnesses, and ensuring the safe application of genomics in enriching patient care and profiting society through governmental and public and private entities. For illustration, in December 2022, as per the information from a UK-based governmental service and information agency, GOV.UK, the UK government allotted £175 million ($229.83) to augment genomic healthcare in 2022. This allocation specifically takes into account breakthrough technologies to refine diagnoses and treatments for a range of diseases like cancer as well as rare genetic maladies.

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What Are the Leading Organizations Impacting the Genomics Market’s Growth?

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.

What Are the Most Prominent Trends Driving Change in the Genomics Market?

Prominent firms in the genomics market are concentrating on technological progress, including long read technology, to improve the precision of genome sequencing. This technology allows larger and more intricate genetic areas to be analysed, giving a more in-depth understanding of previously hard to detect genetic variations. Long read technology sequences larger DNA or RNA fragments for a more accurate and thorough genetic analysis, aiding the improved identification of complex genetic variations and markers related to diseases. For example, Illumina Inc., an American biotech firm, introduced Illumina’s Complete Long Read Prep in March 2023. This offers an effective, low-input solution for sequencing the entire genome, providing both long and short read data on one device. Additionally, it simplifies workflows and has fewer required resources than other technologies.

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Which Growth-Oriented Segments of the Genomics Market Are Leading the Industry’s Development?

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

Subsegments:

1) By Instrument: Systems, Service Contracts, Software

2) By Reagents: Kits, Consumables

What Regions Are Leading the Charge in the Genomics Market?

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

What Does the Definition of the Genomics Market Include?

Genomics refers to the study of the complete set of genes (genome) within an organism, including their structure, function, evolution, and mapping. It involves analyzing the sequencing and interactions of DNA, RNA, and proteins to understand how genes regulate biological processes and contribute to traits and diseases. Genomics plays a crucial role in fields like medicine, agriculture, and biotechnology, helping to advance personalized medicine, improve crop yields, and develop targeted therapies for genetic disorders.

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