Delray Beach, FL, June 11, 2025 (GLOBE NEWSWIRE) — The global genomics market, valued at US$42.4 billion in 2023, stood at US$42.6 billion in 2024 and is projected to advance at a resilient CAGR of 9.4% from 2024 to 2029, culminating in a forecasted valuation of US$66.8 billion by the end of the period. The genomics market is rising rapidly as advancements in NGS, long-read sequencing, and CRISPR expand genomics applications in precision medicine, diagnostics, drug discovery, and agriculture. This, in turn, is driving demand for genomic tools and services due to the increasing incidence of genetic disorders, cancer, and viral infections. Key players are investing in the development of more efficient and cost-effective solutions, making genomics increasingly accessible for both research and clinical settings. As personalized medicine and population genomics continue to gain momentum, the market is expected to grow globally.
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Based on offerings, the genomics market is divided into product and service segments. The product segment accounted for the largest share of the genomics market in 2023. This dominance is primarily attributable to the reagents, kits, and other consumables used in sequencing, PCR, and microarray technologies, which represent a major product category and contribute significantly to the market share. Advances in efficient and cost-effective sequencing technologies have also driven product innovation. As a result, genomics has become more accessible to a wider user base, including academic institutions, pharmaceutical companies, and healthcare providers. Product dominance in the genomics market is expected to continue due to its central role in enabling high-profile research and clinical advancements. However, the service segment accounted for the second-largest share in the market.
Based on technology, the genomics products market is divided into sequencing, PCR, gene editing, flow cytometry, microarrays, in situ hybridization, and other technologies. Sequencing technology holds the largest market share in 2023, largely due to its extensive use in clinical settings for disease diagnosis, genetic testing, and personalized medicine, making it a dominant technology in the genomics market. The increasing demand for sequencing in research, particularly in population genomics, pharmacogenomics, and rare disease studies, fuels the growth of this segment. Continuing innovations in sequencing technology—including read lengths, accuracy, and automation—will drive expansion in genomics and reinforce the leading position of this segment.
Based on product type, the market is segmented into reagents, kits, and consumables, instruments, and bioinformatics tools. The reagents, kits, and consumables segment accounted for the largest share of the genomics market in 2023. These consumables, used in sequencing, PCR, and microarray technologies, represent a major product category, contributing significantly to the market share. However, the instrument segment held the second-largest share within this category.
Based on application, the genomics market is segmented into drug discovery & development, diagnostics, agriculture and animal research, and other applications. In 2023, …