In accordance to a review performed by P&S Intelligence, the global genomics marketplace is anticipated to generate a revenue of $68. billion by 2030, escalating from $18.two billion in 2019, progressing at a 12.7% CAGR in the course of the forecast period (2020–2030). The marketplace is developing due to the escalating government initiatives and assistance, rising requirement for personalized medicine, and reduction in the cost of sequencing companies. In terms of solution, the marketplace is categorized into solutions, consumables, and instruments, between which, the consumables category dominated the marketplace in 2019.

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This can be attributed to the increasing variety of samples that are getting processed at labs, analysis centers, and a number of other finish-use settings. In addition to this, the expanding variety of study tasks are also resulting in the rising demand for consumables. On the basis of application, the genomics industry is categorized into diagnostics, agriculture and animal analysis, precision medicine, and drug discovery & development. Amongst which, the diagnostics category held the main share of the industry in 2019, owing to the rising investigation tasks connected to genetic diseases, like cancer.

When engineering is taken into consideration, the genomics market is classified into microarray, polymerase chain reaction, and sequencing, out of which, the sequencing classification is predicted to witness the highest CAGR in the course of the forecast period. The demand for this technologies is growing quickly, owing to its lowering expense. As per the National Human Genome analysis Institute, the price of genome sequencing was about $10,000 in the mid-2011, which decreased considerably to $1,000 in 2018. This is anticipated to drive the adoption of sequencing, therefore top to the growth of the market.


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The growing initiatives and help by governments is a essential issue major to the growth of the genomics market place. For instance, the government of India announced in 2019 that the country would launch its very first human genome mapping project along with the Department of Biotechnology for assisting researchers get closer to the development of successful therapies for critical illnesses, including cancer. Underneath the project, 20,000 Indian genomes are expected to be scanned for developing diagnostic exams and enhanced therapies for managing ailments.