Genomics Market Size USD 96.25 Billion by 2030 at a CAGR of 20.9%

Latest Study on “Genomics Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2022-2030”.

The global Genomics market size is expected to be worth around US$ 96.25 billion by 2030, according to a new report by Nova one advisor.

The global Genomics market size was valued at US$ 27.90 billion in 2021 and is anticipated to grow at a CAGR of 20.9% during forecast period 2022 to 2030.

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The scientific community has tried to address genetic susceptibility and severity to SARS-CoV-2 infection by combining research efforts using existing genetic databases. Multiomic-based approaches and genome-wide association studies (GWAS) have been employed to uncover biological networks and common variants underlying host-pathogen interactions. Similarly, data derived from genomes, such as polygenic risk scores (PRS), ABO blood groups, and HLA haplotypes, can be potentially used to decipher COVID-19 complications, resistance, and susceptibility. Moreover, biobanks that link electronic health records (EHRs) to genomic data can be leveraged to study the impact of genomic factors on the clinical course of patients infected with SARS-CoV-2.

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, microarray, 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.

Report Scope of the Genomics Market

Key Takeaways:

• By Deliverable, the U.K. Genomics market was valued at USD 450.2 Million in 2021 and expected to witness growth at a CAGR of 17.2% from 2022 to 2030.
• In the products segment, the consumables and reagents segment is expected to register the fastest CAGR over the forecast period owing to the high volume requirement for reagents and consumables for genomic analysis
• In the services segment, NGS-based services dominated the market in 2021. The use of NGS-based services for the analysis of the SARS-CoV-2 genome drives the segment. The COVID-19 Genomics UK (COG-UK) Consortium delivers rapid and large-scale whole-genome sequencing of SARS-CoV-2
• By application and technology, functional genomics led the market in 2021 due to the development of high-throughput technologies for the gene as well as protein studies. The generation of a large amount of sequencing data has led to significant developments in the segment
• Based on end use, pharmaceutical and biotechnology companies dominated the market in 2021. Pharmaceutical and biotechnology companies like Menlo Park; Grail, Inc.; and Regeneron Pharmaceutical, Inc. have initiated large-scale genomic sequencing projects in collaboration with both community health systems and academic medical centers
• Asia Pacific is expected to register the fastest growth rate from 2022 to 2030 owing to an increase in adoption and awareness about a number of genomics technologies in emerging countries, such as China and India, for the detection, treatment, and prognosis of various genetic disorders, such as diabetes and cancer

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Regional Insights

North America dominated the market with a share of 37.8% in 2021 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.

Some of the prominent players in the Genomics Market include:

• Thermo Fisher Scientific, Inc.
• Agilent Technologies
• Beijing Genomics Institute (BGI)
• Bio-Rad Laboratories
• Danaher Corporation
• F. Hoffmann-La Roche Ltd.
• GE Healthcare
• Illumina, Inc.
• Oxford Nanopore Technologies
• Pacific Biosciences of California, Inc.
• QIAGEN N.V.
• Quest diagnostics
• Myriad Genetics, Inc.
• Eppendorf AG
• Eurofins Scientific
• Color
• 23andMe, Inc.

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Nova one advisor, Inc. has segmented the global Genomics market

• Application & Technology
  • Functional Genomics
    • Real-time PCR
    • Transfection
    • SNP Analysis
    • Mutational Analysis
    • Microarray Analysis
    • RNA Interference
  • Pathway Analysis
    • Microarray Analysis
    • Bead-based Analysis
    • Proteomics Tools (2-D PAGE; yeast 2-hybrid studies)
    • Real-time PCR
  • Biomarker Discovery
    • DNA Sequencing
    • Microarray Analysis
    • Real-time PCR
    • Mass Spectrometry
    • Statistical Analysis
    • Bioinformatics
  • Epigenetics
    • Bisulfite Sequencing
    • Microarray Analysis
    • Chromatin Immunoprecipitation (ChIP & ChIP-Seq)
    • Methylated DNA Immunoprecipitation (MeDIP)
    • High Resolution Melt (HRM)
    • Chromatin Accessibility Assays
  • Others
• Deliverable
  • Products
    • Instruments/Systems/Software
    • Consumables & Reagents
  • Services
    • NGS-based Services
    • Core Genomics Services
    • Biomarker Translation Services
    • Computational Services
    • Others
• End-use
  • Pharmaceutical and Biotechnology Companies
  • Hospitals and Clinics
  • Academic and Government Institutes
  • Clinical Research
  • Other End Users

Regional Segmentation

• Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia]
• Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland]
• North America [United States, Canada, Mexico]
• South America [Brazil, Argentina, Columbia, Chile, Peru]
• Middle East & Africa [GCC, North Africa, South Africa]

Objectives of the Study

• To define, describe, and forecast the Genomics market based on type, technology, application, end user, and region
• To provide detailed information regarding the major factors influencing market growth (such as drivers, restraints, opportunities, and challenges)
• To strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions to the total market
• To analyze opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
• To forecast the size of the market segments with respect to five major regions, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa
• To profile key market players and comprehensively analyze their product portfolios, market shares, and core competencies
• To track and analyze competitive developments, such as product launches, expansions, acquisitions, agreements, and collaborations in the Genomics market

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