Genomics Market Research: Understanding Consumer Genomic Testing Trends

Genomics Industry Overview

The global genomics market size was valued at USD 32.65 billion in 2023 and is projected to witness a compound annual growth rate (CAGR) of 16.5% from 2024 to 2030. The growth of genomics market is attributed to factors such as growing demand for gene therapy, personalized medicine, drug discovery, increasing cancer incidence, and a significant increase in demand for consumer genomics in recent years. Moreover, increasing number of joint ventures and partnerships amongst market players is also expected to have a positive impact on the genomics market growth. For instance, in June 2022, Illumina, Inc., and Allegheny Health Network signed a collaboration for effective evaluation of the impact of in-house Comprehensive Genomic Profiling (CGP) to leverage patient care.

Gather more insights about the market drivers, restrains and growth of the Genomics Market

The COVID-19 pandemic outbreak had posed challenges to applications of genomics technology in terms of research and therapeutics. Nevertheless, some niche applications were of great use to mankind during the pandemic situation to facilitate immediate attention for designing effective diagnostics, effective therapeutics and steps to curb the spread of COVID-19. For example, the viral genome mutational rate (~1-2 bases per month) was gauged for validity of PCR cycle was estimated to understand the efficacy of the re-purposed anti-viral treatments and thereby the vaccine development process was streamlined.

Many genomic surveillance programs were launched country wise to understand the dynamics of pandemic situation and to effective preventive measures. For instance, in December 2020, the Indian SARS-CoV-2 Genomics Consortium (INSACOG) was launched by the joint efforts of Department of Biotechnology (DBT), Ministry of Health, and ICMR with an aim to screen the genomic variations in the SARS-CoV-2 by sequencing technologies. Furthermore, country specific companies are providing consumer genomics services which is also expected to fuel the market size in coming years. One such company being Mapmygenome which is one of the pioneers in India offers DTC genomics services.

The increasing prevalence of inherited cancers is expected create a high demand for cancer genomics. The substantial understanding of human genome have targeted focus on use of various gene therapies for treatment of cancers by modern gene editing techniques such as CRISPR-Cas gene technology. For instance, in September 2022, a group of researchers at the University of California introduced the applications of precision genome editing agents for management of inherited retinal diseases (IRDs).

The development of high-throughput sequencing technologies such as Next-Generation Sequencing (NGS) and microarrays has generated massive amounts of genomic data. However, the rapid accumulation of this data from DNA sequencing and Electronic Health Records (EHRs) poses significant challenges and opportunities for the extraction of biologically or clinically relevant information. Phenome-wide association study (PheWAS) & genome-wide association study (GWAS) are helping researchers to study correlations between genotype and phenotype.

The market players are extensively working towards collaborations, expansions, acquisitions and huge capital investments to advance in research to understand rare diseases and to aid drug discovery. For instance, PacBio declares a collaboration with the Genomics England society for the utility of PacBio’s technology to detect genetic variation in unexplained rare disorders. The study is intended to re-sequence a selection of samples collected during Genomics England’s 100,000 genomes project to discover potential operational and clinical benefits of long-read sequencing for the identification of mutations associated with rare diseases.

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• The global gene delivery technologies market, valued at USD 4.91 billion in 2023, is projected to grow at a CAGR of 11.4% from 2024 to 2030. The market growth is driven by the increasing prevalence of genetic disorders and cancers, which necessitates the development of effective gene therapies.

• The global gene panel market size was valued at USD 2.97 billion in 2023 and is projected to grow at a CAGR of 17.6% from 2024 to 2030. The market is experiencing expansion owing to the rising prevalence of hereditary disorders and cancer and the increasing need for genetic screening to proactively reduce mortality rates from genetic disorders.

Genomics Market Segmentation

Grand View Research has segmented the global genomics market based on application, technology, deliverables, end-use, and region:

Genomics Application & Technology Outlook (Revenue, USD Million, 2018 - 2030)

• Functional Genomics

  • Real-Time PCR

  • Transfection

  • SNP Analysis

  • Mutational Analysis

  • Microarray Analysis

  • RNA Interference

• Epigenomics

  • Bisulfite Sequencing

  • Chromatin Immunoprecipitation (ChIP & ChIP-Seq)

  • Methylated DNA Immunoprecipitation (MeDIP)

  • High Resolution Melt (HRM)

  • Chromatin Accessibility Assays

  • Microarray Analysis

• Pathway Analysis

  • Microarray Analysis

  • Bead-Based Analysis

  • Real-time PCR

  • Proteomics tools (2-D PAGE; yeast 2-hybrid studies)

• Biomarker Discovery

  • DNA Sequencing

  • Microarray Analysis

  • Real-time PCR

  • Mass Spectrometry

  • Statistical Analysis

  • Bioinformatics

• Others

Genomics Deliverables Outlook (Revenue, USD Million, 2018 - 2030)

• Products

  • Instruments/Systems/Software

  • Consumables & Reagents

• Services

  • Core Genomics services

  • NGS-based Services

  • Biomarker Translational Services

  • Computational Services

  • Others

Genomics End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Clinical Research

• Academic & Government Institutes

• Hospitals & Clinics

• Pharmaceutical & Biotechnology Companies

• Other End Users

Genomics Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • U.K.

  • Germany

  • France

  • Spain

  • Italy

  • Denmark

  • Sweden

  • Norway

• Asia Pacific

  • Japan

  • China

  • India

  • South Korea

  • Australia

  • Thailand

• Latin America

  • Brazil

  • Mexico

  • Argentina

• Middle East & Africa

  • South Africa

  • Saudi Arabia

  • UAE

  • Kuwait

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Key Companies profiled:

• Agilent Technologies

• Bio-Rad Laboratories, Inc.

• BGI Genomics

• Color Genomics, Inc.

• Danaher Corporation

• Eppendorf AG

• Eurofins Scientific

• F. Hoffmann-La Roche Ltd.

• GE Healthcare

• Illumina, Inc.

• Myriad Genetics, Inc.

• Oxford Nanopore Technologies

• Pacific Biosciences of California, Inc.

• QIAGEN N.V.

• Quest Diagnostics Incorporated

• Thermo Fisher Scientific, Inc.

• 23andMe, Inc.

Recent Developments

• In November 2023, Fabric Genomics collaborated with DNAnexus and Oxford Nanopore Technologies for deployment of CLIA/CAP labs in pediatric and neonatal ICU’s. The labs will use Oxford Nanopore’s platforms to study genetic disorders in infants.

• in February 2023, Illumina, Inc. entered into a collaboration with African Centre of Excellence for Genomics of Infectious Diseases to start a training institute to increase genomic capabilities in African region

• In January 2023, SOPHiA GENETIC collaborated with the Memorial Sloan Kettering Cancer Center (MSK), a U.S. Cancer Center, to offer researchers and clinicians solutions to expand analytical and testing capabilities.

• In January 2023, Agilent Technologies, Inc. announced acquisition of Avida Biomed, a company that develops target enrichment workflows for clinical researchers utilizing NGS methods to study cancers.

• In April 2022, QIAGEN launched the Biomedical Knowledge Base in Europe, Japan, North America, and Australia to support data science applications in biotech companies