Austin, April 22, 2025 (GLOBE NEWSWIRE) -- Genomic Medicin Market Size & Growth Analysis:
According to SNS Insider, the Genomic Medicine Market size was valued at USD 25.35 billion in 2023 and is projected to reach USD 86.35 billion by 2032, growing at a compound annual growth rate (CAGR) of 14.64% from 2024 to 2032.
The growth of the genomic medicine market is being powered by the widespread adoption of next-generation sequencing (NGS), expansion of precision medicine, supportive government programs, and the rising global burden of cancer and genetic disorders.
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U.S. Genomic Medicine Market Overview
The U.S. Genomic Medicine Market, valued at USD 7.81 billion in 2023, is projected to reach USD 22.94 billion by 2032, growing at a CAGR of 12.74% from 2024 to 2032.
The U.S. genomic medicine market has significant government support, including the NIH's All of Us Research Program and extensive use of precision medicine. The presence of large companies like Illumina and Thermo Fisher Scientific, along with highly advanced genomic research labs, further strengthens the market. Supportive regulatory policies and increased insurance coverage for genetic testing are also key drivers of the market growth.
Key Genomic Medicine Companies Profiled in the Report
- Illumina, Inc.
- Thermo Fisher Scientific Inc.
- Qiagen N.V.
- Agilent Technologies, Inc.
- F. Hoffmann-La Roche Ltd.
- Oxford Nanopore Technologies plc
- PacBio
- BGI Genomics Co., Ltd.
- PerkinElmer, Inc.
- Myriad Genetics, Inc.
- Invitae Corporation
- Genomic Health
- Bio-Rad Laboratories, Inc.
- 23andMe, Inc.
- Nebula Genomics
- GenScript Biotech Corporation
- Twist Bioscience Corporation
- Eli Lilly and Company
- Regeneron Pharmaceuticals, Inc.
- Bluebird Bio, Inc.
Genomic Medicine Market Report Scope
| Report Attributes | Details |
| Market Size in 2023 | US$ 25.35 billion |
| Market Size by 2032 | US$ 86.35 billion |
| CAGR | CAGR of 14.64% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East]), Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
Segmentation Insights
By Application, Oncology Dominates Genomic Medicine Market with 22.15% Share in 2023, Driven by Advancements in Precision Oncology and Rising Cancer Prevalence.
Oncology adds the biggest, with a dominant 22.15% market share in 2023. This is due to the prevalence of genomic-based cancer diagnosis and genomic-based therapy targeting. This trend is driven primarily by emerging concepts in precision oncology, such as biomarker-driven therapy selection and the liquid biopsy-based detection of genetic mutation without surgical intervention. Finally, the increasing cancer burden and the strides in new genomic-based drugs substantiate oncology as the most relevant genomic medicine application.
By Products and Services, Consumables Segment Dominates Genomic Medicine Market with 52.40% Share, Driven by Rising Demand for NGS and PCR Technologies.
The consumables segment dominated the market in 2023, with a market share of 52.40%. This is because of the ever-increasing demand for reagents, kits, and assay solutions employed in genomic sequencing and other genomic tests. The demand for consumables has accelerated, particularly in the areas of polygenomic studies such as next-generation sequencing (NGS), polymerase chain reaction (PCR) based technologies, and diagnostic consumables across oncology and rare genetic disorders. The services segment, which includes genomic tests, data analysis, and genetic counseling, is expected to grow most rapidly. Customized medicine demand is increasing for both, as is the use of artificial intelligence (AI) to interpret the genome, and this is the main force pushing growth.
By Technology, Next-Generation Sequencing (NGS) Leads Genomic Medicine Market with 38.64% Share, Revolutionizing Precision Medicine and Diagnostics.
In 2023, the Next-Generation Sequencing segment dominated the Genomic Medicine Market with a 38.64% market share due to its unmatched capability to provide high-throughput, affordable, and quick genomic analysis. Next-generation sequencing (NGS) with deep sequencing of whole genome(omics), exome(omics), and transcriptome (omics) has transformed precision medicine, cancer diagnostics, and rare disease detection. The increasing demand for personalized treatment and biomarker discovery, and therapies targeting specific causes has further accelerated the adoption of NGS in clinical, research, and pharma settings.
By End-User, Pharmaceutical & Biotechnology Companies Dominate Genomic Medicine Market with 37.12% Share, Driving Innovation in Precision Medicine
In 2023, the Pharmaceutical & Biotechnology Companies segment dominated the Genomic Medicine Market with a share of 37.12%. This is powered by increasing dependence on genomic information to identify drugs, develop them, and deliver precision medicine. Pharma and biotech companies are investing heavily in genomic research to create genomics-driven targeted therapies for oncology, rare genetic disorders, and neurodegenerative diseases. The increasing need for companion diagnostics, gene therapy, and CRISPR gene editing is also fueling the requirement for genomic technology in pharma R&D.
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Genomic Medicine Market Segmentation
By Application
- Oncology
- Cardiology
- Paediatrics
- Endocrinology
- Respiratory Medicine
- Rare Genetic Disorders
- Infectious Diseases
- Other Applications
By Products And Services
- Instruments and Equipment
- Consumables
- Services (Genomic Testing, Data Analysis, Interpretation, Genetic Counselling)
By Technology
- Next-Generation Sequencing (NGS)
- Polymerase Chain Reaction (PCR)
- Microarray
- Sanger Sequencing
- Others
By End-User
- Hospitals & Clinics
- Academic Institutions
- Research Institutions
- Diagnostic Laboratories
- Pharmaceutical & Biotechnology Companies
- Other End-Users
North America Dominates Genomic Medicine Market in 2023, While Asia Pacific Emerges as the Fastest-Growing Region
North America had the upper hand in the genomic medicine market in 2023, cornering 42.62% of the market share. The region's robust healthcare infrastructure, along with huge R&D activities, has been instrumental in making it a leader in genomic medicine. Key companies involved in driving North America to be the dominant market include Illumina, Thermo Fisher Scientific, and Roche. Moreover, the U.S. has led the way with multiple programs in precision medicine and genomic therapies, including the National Institutes of Health’s (NIH) All of Us Research Program and major funding from other institutions, such as the National Human Genome Research Institute (NHGRI).
The Asia Pacific is growing to be the fastest-growing region with an estimated CAGR of 15.41% during the forecast period. Also, many of the governments in the region, such as Japan (Genome Analysis Project) and China (Precision Medicine Initiative), are investing in formulating genomic data and are all aiding the growth factors for genomic medicine. The Asia Pacific is spurred on by the high rate of genetic disorders, increased spending on biotechnology, and the creation of more genomic sequencing labs for applying genomic medicine. Moreover, the cost-effectiveness of genomic services in this market in comparison to Western markets is further enhancing the application of genomic technologies, and it is also emerging as an international market-driving tool.
Recent Developments
- November 2023: Illumina launched the TruSight Oncology 500 ctDNA v2, a state-of-the-art liquid biopsy assay designed for the comprehensive genomic profiling of solid tumors. This advanced assay offers an accelerated turnaround time of less than four days and enhanced analytical sensitivity, enabling non-invasive cancer research and precision medicine.
- May 2023: Thermo Fisher Scientific and Pfizer announced a strategic partnership to expand access to Next-Generation Sequencing (NGS)-based cancer testing in over 30 countries. This partnership aims to improve the availability of affordable and advanced genomic testing for breast and lung cancer, ultimately enhancing patient outcomes in emerging markets.
Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
5.1 Adoption Rates of Genomic Medicine by Region (2023-2032)
5.2 Regulatory Approvals and Policy Landscape (2023-2032)
5.3 Technological Advancements and R&D Investment Trends (2023-2032)
5.4 Market Penetration of Genomic Testing and Personalized Therapies (2023-2032)
5.5 Reimbursement Policies and Cost Analysis (2023-2032)
6. Competitive Landscape
7. Genomic Medicine Market by Application
8. Genomic Medicine Market by Products And Services
9. Genomic Medicine Market by Technology
10. Genomic Medicine Market by End-User
11. Regional Analysis
12. Company Profiles
13. Use Cases and Best Practices
14. Conclusion
Related Reports by SNS Insider:
Next-Generation Sequencing (NGS) Market Report
Companion Diagnostics Market Analysis
CRISPR Technology Market Outlook
Genetic Testing Market Global Report
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