Meticulous Research^®—a leading global market research company, published a research report titled, ‘Genomics Market by Technology (Sequencing, Microarray, PCR, Nucleic Acid Extraction) Application (Drug Discovery, Diagnostic, Research) End User (Pharmaceutical, Hospital, Academic) Offering (Instrument, Consumable, Software) – Global Forecast to 2031.’

According to this latest publication from Meticulous Research^®,the global Genomics Market could climb to nearly $70.52 billion by 2031, reflecting a CAGR of about 11.1%. Several forces are shaping this growth. A rising number of genetic disorders has made genomic testing and DNA sequencing more common in hospitals and labs. Costs have also dropped sharply over the past decade, allowing wider use of medical genomics and clinical genomics tools. At the same time, heavy R&D spending by pharmaceutical companies, combined with new funding streams in the gene research industry, is pushing the market forward. That said, growth is not without obstacles. The lack of common standards still complicates adoption across regions. Data protection remains a sensitive topic as more genome data enters digital health systems. Another issue is skills there simply aren’t enough trained professionals to match the pace at which the genomics industry is scaling. On the upside, the shift toward personalized medicine is opening new doors. Gene therapies are moving out of trial phases and into clinics, creating demand for advanced solutions. As more health providers start using genotype data to guide treatments, genomics is expected to move from being a research-focused field into a routine part of clinical decision-making.

Key Players

The key players operating in the global genomics market are Agilent Technologies, Inc. (U.S.), Bio-Rad Laboratories, Inc. (U.S.), Danaher Corporation (U.S.), Thermo Fisher Scientific Inc. (U.S.), Illumina, Inc. (U.S.), QIAGEN N.V. (Netherlands), Pacific Biosciences of California, Inc. (U.S.), Oxford Nanopore Technologies Plc. (U.K.), Eppendorf SE (Germany), Myriad Genetics, Inc. (U.S.), Revvity, Inc. (Formerly PerkinElmer, Inc.) (U.S.), and BGI Genomics Co. Ltd (China).

Genomics Market: Future Outlook

The global genomics market is segmented by Offering (Systems, Consumables, Software, and Services), Technology (Polymerase Chain Reaction (PCR), Sequencing [Next Generation Sequencing (NGS) and Other Sequencing Technologies], Nucleic Acid Extraction and Purification, Microarray and Other Technologies), Application (Diagnostics, Drug Discovery & Development, Life Science Research [Cancer Research, Stem Cell Research, and Other Life Science Research], and Other Applications), End User (Pharmaceutical & Biotechnology Companies, Hospitals & Clinics, Diagnostic Laboratories, Contract Research Organizations (CROs), Academic & Research Institutes, and Other End Users) and Geography. The study also evaluates industry competitors and analyzes their market shares at the global and regional levels.

Genomics Market by Offering: Systems, Consumables, Software, and Services

Looking at the Genomics Market by offering, the main categories include systems, consumables, software, and services. Among these, consumables are still expected to hold the top spot in 2024. This is not surprising, since day-to-day DNA sequencing work especially in next-generation sequencing (NGS) relies heavily on kits, reagents, and other routine supplies. As research into the genome expands and more labs turn to genomic testing for both medical genomics and clinical genomics, the use of these products only grows. What makes consumables stand out is their recurring demand: unlike a one-time system purchase, they need constant replenishment. That steady pull, combined with the increasing use of genotype data in healthcare, has made this segment the backbone of the genomics industry, and it will likely remain so as genetic research deepens and personalized medicine gains traction.

Technology-Based Segmentation of the Genomics Industry

When the Genomics Market is broken down by technology, the main categories include sequencing, microarray, PCR, nucleic acid extraction and purification, and a few other methods. Out of these, sequencing is expected to see the fastest growth over the next several years. A big reason for this is that DNA sequencing technology keeps getting better faster, more scalable, and more efficient than it was even a few years ago. The wider use of genomic testing in both medical genomics and clinical genomics has added to the momentum, since most of the valuable genotype and genome data depends on sequencing to begin with. The role of industry players is also important here. Companies in the genomics industry have been rolling out new products, securing approvals, and buying up smaller innovators to strengthen their positions. One example is Bio-Rad’s move in August 2022, when it acquired Poland-based Curiosity Diagnostics to push forward a new generation of rapid PCR systems. Deals like this not only broaden company pipelines but also help push the gene research industry toward faster and more practical solutions.

Genomics Market by Application: Drug Discovery, Diagnostics & Research

Looking at the Genomics Market by application, you can see four main areas: drug discovery & development, diagnostics, life science research, and others. Of these, drug discovery & development is expected to pick up the fastest. A big reason is the rise in chronic diseases like cancer and diabetes there’s just more pressure to find effective treatments. At the same time, improvements in genomic testing and medical genomics make it easier to study the genome and genotypes of patients. This is something the genomics industry has really been leaning into, helping pharma companies push ahead with new therapies. In many cases, these developments support the broader gene research industry. Of course, not everything is smooth scaling these approaches and getting them widely adopted can still be tricky, but the overall trend is clear: targeted, personalized drug development is gaining traction.

End User Segmentation in the Genomics Industry

Looking at the Genomics Market by end user, the main players include pharmaceutical and biotechnology companies, hospitals and clinics, research institutes, diagnostic labs, CROs, and a few others. For 2024, pharma and biotech companies seem to take the lead. A big reason is their focus on drug development, biomarker discovery, and personalized medicine. They also spend a lot of time analyzing patient genotypes and studying the genome to find new targets. NGS and other sequencing tools play a huge role here. In many cases, these technologies help researchers spot genetic variants linked to diseases. It also seems that the genomics industry is leaning heavily on these end users without them, progress in the gene research industry would probably be slower. Overall, pharma and biotech are driving both innovation and demand, though not everything is straightforward. Scaling these efforts and turning data into actionable therapies still takes time.

Geographic Review: Growth and Adoption of Genomics Technologies

The Genomics Market can be seen across several regions: North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, and the rest of Europe), Asia-Pacific (China, Japan, India, and the rest of Asia-Pacific), Latin America (Brazil, Mexico, and the rest of Latin America), and the Middle East & Africa. In 2024, North America seems likely to take the largest share. A big part of this is heavy R&D spending and a fairly advanced healthcare system. There are also a lot of major players in the genomics industry here, which drives innovation. In many cases, new genomic testing methods and DNA sequencing technologies are being adopted rapidly, especially in medical genomics and clinical genomics. It appears that North America also contributes a lot to the wider gene research industry, with discoveries and innovations often starting here before spreading elsewhere. Other regions are growing too, but North America still seems to lead for now.

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Key questions answered in the report-

Which factors are driving the growth of the Genomics Market?

What are the key challenges restraining the growth of the Genomics Market?

Name at least five major companies operating in the global Genomics Market.

How are acquisitions, such as Bio-Rad’s purchase of Curiosity Diagnostics, influencing market growth and innovation?

What are the main segments of the Genomics Market based on offering?

How does recurring demand for consumables support the genomics industry?

What are the major technology categories in the Genomics Market?

How do sequencing technologies contribute to genomic testing and research?

What are the main applications of genomics in the healthcare and research sectors?

Why is drug discovery & development expected to grow faster than other applications?

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