According to a new market research report, the U.S. genomics market size was USD 12.45 billion in 2023, calculated at USD 14.46 billion in 2024 and is expected to reach around USD 55.45 billion by 2033, expanding at a CAGR of 16.11% from 2024 to 2033.
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One of the most important developments in the field of biology over the past century was the Human Genome Project (HGP)—the ten-year U.S. government-spearheaded effort that culminated in the first complete sequencing of a human genome in 2000. The HGP launched the field of genomics, transformed medicine, and largely gave birth to the modern biotechnology industry.
Genomics, encompassing the study of an individual’s entire genetic makeup and its interactions with both genes and the environment, flourishes within the vast and diverse healthcare landscape of the United States. Renowned research centers, numerous notable genomics projects, and influential figures contribute to the country’s prominence in this field. Moreover, the robust U.S. healthcare industry, already substantial, continues to expand in response to the nation’s growing population. This symbiotic relationship between healthcare expansion and genomic advancements fuels the growth trajectory of the U.S. genomics market.
The U.S. genomics market experiences rapid expansion driven by advancements in understanding an organism’s entire genome and its interactions with the environment. Genetic screening for newborns, mandated by states with a high uptake rate of approximately 95%, underscores the market’s significance. However, testing requirements vary regionally as newborn screening is controlled at the state level. A pivotal milestone in genomics was the completion of the Human Genome Project (HGP), a U.S. government-led initiative culminating in the first complete sequencing of a human genome in 2000. With advancements, human genome sequencing can now be accomplished within 24 hours at a modest cost, allowing consumers to access DNA sequences revealing ethnic lineage. Genomics extends beyond healthcare, finding applications in agriculture, biotechnology, anthropology, and other social sciences, contributing to its rapid growth and multifaceted impact across various industries.
- In April 2022, LGC acquired Rapid Genomics, bolstering its position in the application of NGS for the high-throughput genotyping market in AgBio.
U.S. Genomics Market Key Takeaways
- The functional genomics segment held the largest market share, accounting for 32.19% of total revenue in 2023.
- The pathway analysis is projected to experience the fastest revenue growth with a predicted CAGR of 17.9% from 2024 to 2033.
- In 2023, the products segment accounted for the largest share of the U.S. genomics market, representing an impressive 70.11% of total revenue.
- While products led the market, services is expected to be the second-fastest-growing segment, with a predicted CAGR of 15.1% from 2024 to 2033.
- In 2023, pharmaceutical and biotechnology companies held the largest market, accounting for approximately 23.33% of total revenue.
- The clinical research sector is poised for rapid growth, with a predicted CAGR of 18.1% from 2024 to 2033.
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Global Genomics Market Size and share 2024 to 2033
The global genomics market size was estimated at USD 39.53 billion in 2024 and is projected to hit around USD 157.47 billion by 2033, growing at a CAGR of 16.6% during the forecast period from 2024 to 2033. North America accounted for the largest market share of 42.69% in 2023.
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U.S. Genomics Market Report Highlights
By Application & Technology Insights
The functional genomics segment held the largest market share, accounting for 32.19% of total revenue in 2023, fueled by advancements in drug discovery through functional genomics methodologies. This approach facilitates the exploration of gene effects and their links to diseases, identifying potential drug targets. Among the array of technologies available, CRISPR/Cas9 stands out as the most effective and versatile gene editing tool. Functional genomics leverages genomic and omic data to dissect gene function and regulation within dynamic systems, offering valuable insights into the implications of genetic variations on health and disease. With its ability to elucidate biological processes at the molecular level, functional genomics with CRISPR/Cas9 technology drives innovation in drug discovery and therapeutic development, propelling growth in the market.
The pathway analysis is projected to experience the fastest revenue growth with a predicted CAGR of 17.9% from 2024 to 2033 in genomics, particularly with a forecasted surge in the coming period. The increasing availability of next-generation sequencing presents an opportune moment to reevaluate strategies for pathway-based analysis of genomic data. Pathway analysis tools, integral to life sciences research, aim to derive significance from high-throughput biological data by harnessing biomolecular knowledge and employing statistical testing and algorithms. Despite their widespread utilization, the foundational aspects of pathway analysis necessitate continuous refinement and enhancement to keep pace with evolving genomic research and data analysis demands.
By Deliverable Insights
In 2023, the products segment accounted for the largest share of the U.S. genomics market, representing an impressive 70.11% of total revenue. This category encompasses an extensive array of offerings such as thermal cyclers, real-time PCR systems, PCR reagents, plastic products, NGS library prep kits, ddPCR, and ddSEQ Systems. Notably, the product lines feature a diverse range of reagents tailored for reverse transcription, PCR, and real-time PCR, meticulously optimized to yield accurate and reproducible data. Additionally, experimentally validated PCR primer and probe assays cater to various analyses including gene expression, copy number variation, and mutation detection, thereby solidifying the segment’s pivotal role in facilitating genomic research and applications.
While products led the market, services is expected to be the second-fastest-growing segment, with a predicted CAGR of 15.1% from 2024 to 2033 in the U.S. genomics market. These services encompass a range of offerings including whole genome sequencing, whole exome sequencing, targeted panel sequencing, shotgun metagenomics, and 16S rRNA gene sequencing. Notably, the Genomics Services Laboratory (GSL) boasts over a decade of expertise in next-generation sequencing (NGS) data generation and analysis. GSL’s comprehensive support extends across multiple facets of NGS, encompassing experimental design, library preparation, sequence generation, and data analysis. Leveraging advanced bioinformatics capabilities, GSL excels in analyzing complex sequencing datasets, including integrated DNA and RNA sequence data, thus reinforcing its position as a leading provider of genomics services in the market.
By End-Use Insights
In 2023, pharmaceutical and biotechnology companies held the largest market, accounting for approximately 23.33% of total revenue in the U.S. genomics market. Genomics plays a pivotal role in revolutionizing drug development by enabling companies to create more effective and safer treatments that target the underlying disease directly, rather than merely addressing symptoms. By pinpointing the root cause of diseases within a genomic context, genomics facilitates the identification of repurposing opportunities for existing drugs, which have already been proven safe in humans and approved for use in different settings. This strategic integration of genomics in drug development processes underscores its significance in improving overall patient outcomes and driving innovation in the pharmaceutical and biotechnology sectors.
The clinical research sector is poised for rapid growth, with a predicted CAGR of 18.1% from 2024 to 2033 within the U.S. genomics market. Leveraging genomics, clinical researchers gain access to highly effective diagnostic probes capable of detecting inherited traits, often preempting the manifestation of symptoms. Genomic advancements offer novel methodologies for diagnosing diseases across DNA, RNA, and bioactive protein levels, facilitating comprehensive disease detection. Additionally, genomic methods can be mechanized using technologies akin to those utilized in microcircuit manufacture, enabling simultaneous screening of thousands of diseases via microarrays. This strategic integration of genomics in clinical research not only enhances disease diagnosis but also propels innovation, driving the sector’s growth trajectory forward.
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Market Dynamics
Driver
Genomic Medicine Revolutionizes Healthcare
In medicine, the integration of genomics and DNA sequencing offers invaluable insights into patients’ molecular biology, uncovering genetic differences and mutations that inform personalized care plans. This shift from a one-size-fits-all approach to tailored treatment based on individual genetic composition holds immense promise across all healthcare stages, including prevention, diagnosis, and treatment. Genomic medicine has gained significant traction in areas such as cancer, prenatal care, pharmacology, rare diseases, and infectious diseases, offering faster and more accurate diagnosis, as well as tailored treatment for patients with cancer and inherited diseases. The endorsement of precision treatments and optimization of medication use through genomics further drives advancements in healthcare. These innovations are anticipated to pave the way for new technologies like cancer vaccine hubs and associated trials, stimulating growth in the U.S. genomics market.
- In July 2023, The Alliance for Genomic Discovery announced founding biopharma members: AbbVie, Amgen, AstraZeneca, Bayer, and Merck.
Restraints
Complex Ethical, Legal, and Social Implications
The advent of genomics introduces a myriad of intricate ethical, legal, social, and economic considerations, alongside concerns regarding risks and hazards. Issues such as confidentiality breaches, stigmatization, and potential misuse of genetic information raise significant apprehensions, particularly regarding the formation of a genetic underclass susceptible to denial of medical insurance based on genetic testing outcomes. Challenges related to intellectual property rights surrounding DNA sequences and the exploitation of developing-country populations for genetic databases, often at the behest of developed-world companies, amplify concerns. The absence of robust global intellectual property regulations exacerbates the gap between developed and developing countries, thus posing constraints on the growth potential of the U.S. genomics market.
Opportunities
Advancements in Genomics
Despite the complexities surrounding genomics and the challenges in predicting its full health benefits due to the intricate interactions of gene products, there’s a significant opportunity for developing countries to focus on immediate actions in public health and healthcare system development. The sequencing of the human genome, coupled with ongoing and anticipated achievements in genomics, presents an unprecedented opportunity to enhance our understanding of genetic factors in human health and disease. This newfound insight enables a more precise delineation of non-genetic influences and facilitates rapid application in disease prevention, diagnosis, and treatment. Such advancements create a fertile ground for growth and innovation in the U.S. genomics market, positioning it at the forefront of transformative healthcare solutions.
- In September 2022, Illumina unveiled the revolutionary NovaSeq X Series to accelerate genomic discoveries and improve human health.
- In March 2024, APx Acquisition Corp. I, OmnigenicsAI Corp, and MultiplAI Health Ltd entered into a Business Combination Agreement to create a global AI-driven genomics platform.
Recent Developments:
- In May 2024, SOPHiA GENETICS launched new whole genome sequencing capabilities.
- In October 2023, Complete Genomics demonstrated technical and commercial momentum in the sequencing market through new customers, partnerships, and collaborations within one year of launching in the U.S.
- In January 2024, Ultima Genomics announced the end of early access and the upcoming launch of UG 100.
- In August 2023, PacBio and GeneDx launched a research collaboration with the University of Washington to study long-read whole genome sequencing for increased diagnostic yield in neonatal care.
- In February 2024, Veracyte completed the acquisition of C2i Genomics.
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U.S. Genomics Market Top Key Companies:
- Illumina Inc.
- Thermo Fisher Scientific Inc.
- Agilent Technologies
- Luminex Corporation
- Myriad Genetics Inc.
- BGI Genomics Co. Ltd.
- Bio Rad Laboratories Inc.
- Caris Life Sciences
- Danaher Corp.
- Eurofins Scientific SE
U.S. Genomics Market Report Segmentation
This report forecasts revenue growth at country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Nova one advisor, Inc. has segmented the U.S. Genomics market.
By Application & Technology
- Functional Genomics
- Transfection
- Real-Time PCR
- RNA Interference
- Mutational Analysis
- SNP Analysis
- Microarray Analysis
- Epigenomics
- Bisulfite Sequencing
- Chromatin Immunoprecipitation (ChIP & ChIP-Seq)
- Methylated DNA Immunoprecipitation (MeDIP)
- High-Resolution Melt (HRM)
- Chromatin Accessibility Assays
- Microarray Analysis
- Pathway Analysis
- Bead-Based Analysis
- Microarray Analysis
- Real-time PCR
- Proteomics Tools (2-D PAGE; yeast 2-hybrid studies)
- Biomarker Discovery
- Mass Spectrometry
- Real-time PCR
- Microarray Analysis
- Statistical Analysis
- Bioinformatics
- DNA Sequencing
- Others
By Deliverables
- Products
- Instruments/Systems/Software
- Consumables & Reagents
- Services
- NGS-based Services
- Core Genomics Services
- Biomarker Translation Services
- Computational Services
- Others
By End-use
- Clinical Research
- Academic & Government Institutes
- Hospitals & Clinics
- Pharmaceutical & Biotechnology Companies
- Other End-users
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