The global precision genomic testing market size was valued at USD 14.65 billion in 2023 and is anticipated to reach around USD 57.59 billion by 2033, growing at a CAGR of 14.67% from 2024 to 2033.
due to advancements in genomic technologies and an increasing emphasis on personalized medicine. This market encompasses a range of diagnostic tools and techniques used to analyze genetic information, leading to more accurate diagnoses, targeted therapies, and improved patient outcomes. The demand for precision genomic testing is driven by the need for early disease detection, effective treatment planning, and better management of chronic conditions.
Precision genomic testing (BE), a CRISPR-Cas9 genome editing technology offers potential with continuous technological innovations and growing investment in research and development, the precision genomic testing market is poised for robust expansion in the coming years. For instance, in March 2024, The Advanced Genomics Collaboration (TAGC) awarded funding to four Innovation Projects led by the University of Melbourne in partnership with entities across the Melbourne Biomedical Precinct. These projects will also benefit from access to cutting-edge DNA sequencing technology at TAGC’s world-class genomics hub, made possible through a collaboration between the University and global biotech firm Illumina, with backing from Invest Victoria.
In addition, the growing prevalence of genetic disorders and chronic diseases is fueling the demand for precision genomic testing. There are an estimated 10,000 distinct single-gene diseases caused by mutations in a single gene. According to the World Health Organization, 10 out of every 1,000 people are affected by these conditions. This equates to approximately 70 million to 80 million individuals worldwide living with one of these diseases. Genetic disorders such as cystic fibrosis, Huntington's disease, and various forms of cancer have a significant impact on patient health and quality of life. Early and accurate diagnosis of these conditions is crucial for effective treatment and management. Precision genomic testing allows for the identification of genetic mutations that cause these diseases, enabling timely interventions and personalized treatment plans. As the incidence of genetic disorders continues to rise, the need for reliable and comprehensive genomic testing solutions will drive market growth.
Furthermore, collaborations and partnerships between academic institutions, research organizations, healthcare providers, and biotechnology companies are driving the growth of the market. These collaborations facilitate the exchange of knowledge, resources, and technologies, leading to the development of innovative genomic testing solutions. Partnerships also enable the translation of research findings into clinical applications, ensuring that patients benefit from the latest advancements in genomic science. Moreover, strategic alliances with pharmaceutical companies help integrate precision genomic testing into drug development and personalized treatment strategies. As the ecosystem of collaborations and partnerships expands, the market is expected to thrive.
U.S. Precision Genomic Testing Market Size, Industry Report, 2033
The U.S. Precision genomic testing market size was exhibited at USD 4.23 billion in 2023 and is projected to hit around USD 16.93 billion by 2033, growing at a CAGR of 14.87% during the forecast period 2024 to 2033.
North America precision genome testing market dominated the global industry and accounted for a 41.26% share in 2023, with robust participation from key players like Illumina, Thermo Fisher Scientific, and QIAGEN. Innovation in next-generation sequencing (NGS) technologies and bioinformatics is driving market growth, enabling enhanced genomic analysis and personalized medicine applications. For instance, in June 2022, Labcorp, a global life sciences company, recognized the expanding significance of precision medicine and is dedicated to expanding access to targeted and personalized treatments for a broader population. These advancements support the region's leadership in genomic research and clinical applications, fostering collaborations between academic institutions, healthcare providers, and biotechnology firms. North America remains at the forefront of advancing precision genomic testing capabilities, catering to increasing demands for accurate and tailored healthcare solutions.
U.S. Precision Genomic Testing Market Trends
The precision genomic testing market in the U.S. is anticipated to grow over the forecast period with increased partnerships between industry leaders and research institutions. For instance, in May 2023, Pfizer and Thermo Fisher Scientific Inc. announced a collaboration agreement aimed at expanding local availability of next-generation sequencing (NGS)-based testing for patients with lung and breast cancer. These collaborations foster innovation and accelerate the development of advanced genomic technologies, enhancing diagnostic capabilities and personalized treatment options for patients.
Europe Precision Genomic Testing Market Trends
The precision genomic testing market in Europe is anticipated to grow over the forecast period, driven by robust investments in research and development. Increased funding supports advancements in genomic technologies, fostering innovation in diagnostics and personalized medicine across the continent.
UK precision genomic testing market is expected to grow over the forecast period due to technological innovations. In June 2024, in the UK, robotic technology is employed to aid genomic testing for cancer patients through a collaboration between The Royal Marsden NHS Foundation Trust and Automata Technologies, an automation company specializing in life sciences lab automation. These advancements include next-generation sequencing (NGS) and CRISPR gene editing technologies, enhancing the accuracy and efficiency of genetic analysis for personalized medicine applications.
The precision genomic testing market in Germany is expected to grow over the forecast period with cutting-edge technological improvements in genomic sequencing. These advancements, including next-generation sequencing (NGS) technologies, are enhancing the precision and scope of genetic analysis, driving innovation in personalized medicine and healthcare solutions. For instance, in April 2023, CENTOGENE introduced CentoGenome, a new whole genome sequencing solution designed for diagnosing rare and neurodegenerative diseases. This innovative tool enables healthcare professionals to access more extensive diagnostic information, potentially expediting access to treatment options for patients.
Asia Pacific Precision Genomic Testing Market Trends
The precision genomic testing market in Asia Pacific is expected to experience rapid growth, with a projected CAGR of 19.79% from 2024 to 2033, with significant investments in research and development. These efforts are driving technological innovations in genomic sequencing and diagnostics, enhancing the region's capabilities in personalized medicine and healthcare solutions.
China precision genomic testing market is anticipated to grow over the forecast period, driven by global expansion efforts and strategic partnerships with international companies. For instance, in December 2023, Illumina and HaploX, a China-based high-tech firm specializing in liquid biopsy and genetic big data, jointly unveiled the inaugural NextSeq genetic sequencing system. This milestone signifies a significant advancement in their strategic partnership. These collaborations enhance access to advanced genomic technologies and expertise, supporting China's aim to strengthen its position in personalized medicine and healthcare innovation on a global scale.
The precision genomic testing market in Japan is expected to witness a rapid growth over the forecast period with advancements in technology, particularly through AI interventions. These developments are enhancing the accuracy and efficiency of genomic testing and analysis, positioning Japan at the forefront of personalized medicine and healthcare innovation. For instance, in July 2024, SoftBank Group formed a joint venture named "SB TEMPUS" with Tempus to advance healthcare in Japan by leveraging medical data and AI. The venture aims to offer precision medicine services, including genetic testing and AI-driven treatment recommendations.
Middle East & Africa Precision Genomic Testing Market Trends
The precision genomic testing market in the Middle East & Africa is poised to grow amid a rise in genetic disorders. Increased investment in research and development is driving advancements in genomic technologies, improving diagnostic accuracy and personalized treatment options across the region. These efforts are crucial in addressing the growing healthcare needs and enhancing genomic healthcare capabilities in Middle Eastern and African countries.
Saudi Arabia precision genomic testing market is expected to grow over the forecast period due to government funding and healthcare investments. These initiatives aim to enhance diagnostic capabilities, promote personalized medicine, and address healthcare challenges through advanced genomic technologies and research.
| Report Attribute | Details |
| Market Size in 2024 | USD 16.80 Billion |
| Market Size by 2033 | USD 57.59 Billion |
| Growth Rate From 2024 to 2033 | CAGR of 14.67% |
| Base Year | 2023 |
| Forecast Period | 2024 to 2033 |
| Segments Covered | Product, application, technology, end use, region |
| Market Analysis (Terms Used) | Value (US$ Million/Billion) or (Volume/Units) |
| Report Coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Key Companies Profiled | Illumina, Inc.; Color Genomics, Inc.; Amgen, Inc.; 24 genetics; Circle DNA; F. Hoffmann-La Roche Ltd.; Thermo Fisher Scientific Inc.; AncestryDNA; Agilent Technologies, Inc.; QIAGEN N.V. |
The consumables segment dominated the market in 2023 and is anticipated to grow at the fastest CAGR of 15.58% from 2024 to 2033, driven by new product launches and advancements in technology. Market players are introducing innovative consumables such as reagents, kits, and assay components tailored for genomic sequencing and analysis. These advancements include improved sample preparation methods and high-throughput sequencing technologies, enhancing the efficiency and accuracy of genomic testing. For instance, in May 2024, QIAGEN introduced a new library preparation kit designed to enhance multiomics studies and propel precision medicine forward. This innovative kit simplifies the preparation of DNA and RNA libraries for next-generation sequencing (NGS), including whole genome sequencing (WGS) and whole transcriptome sequencing. It also facilitates downstream target enrichment through hybrid-capture from a single sample, streamlining the process of genomic analysis for researchers and healthcare providers alike. As competition intensifies among key players like Illumina, Thermo Fisher Scientific, and Qiagen, the consumables segment continues to expand to meet the rising demand for precise genetic analysis tools.
The services segment in the precision genomic testing market is experiencing robust growth as demand increases for specialized testing and analysis services. Companies offering genetic counseling, interpretation of genomic data, and clinical trial support are expanding their service offerings. These services cater to healthcare providers, pharmaceutical companies, and research institutions seeking expert guidance in implementing genomic testing strategies.
The oncology segment dominated the market and accounted for a 31.86% share in 2023, driven by innovations in cancer genomics. Advances such as liquid biopsy techniques, comprehensive genomic profiling, and targeted therapy development are enhancing early detection, diagnosis, and personalized treatment of cancers. For instance, in November 2023, Illumina Inc. unveiled the latest generation of its distributed liquid biopsy. The new TruSight Oncology is a research assay designed for noninvasive comprehensive genomic profiling of circulating tumor DNA from blood. It serves as an alternative when tissue testing is unavailable or as a complement to tissue-based testing. Companies are investing in research to identify novel biomarkers and develop precise genomic tests, enabling tailored treatment plans for cancer patients.
The neurological disorders segment is anticipated to grow at the highest CAGR of 16.34% from 2024 to 2033, driven by advancements in genomic technologies and increased investment. For instance, in May 2023, the NIH launched a USD 140 million initiative to explore genetic variation in normal human cells and tissues. Technologies like next-generation sequencing (NGS) and CRISPR are enabling more precise identification of genetic mutations associated with neurological conditions such as Alzheimer's, Parkinson's, and epilepsy. Significant investment in research and development is further propelling the development of specialized genomic tests. These advancements are enhancing early diagnosis, personalized treatment options, and overall patient care, contributing to the robust growth of this market segment.
The next-generation sequencing segment held the largest market share of 34.6% in 2023, driven by continuous innovation and strategic partnerships. Advances in NGS technologies are enhancing sequencing speed, accuracy, and cost-effectiveness, enabling comprehensive genomic profiling. Collaborations between biotech firms, research institutions, and healthcare providers are accelerating the development and adoption of NGS-based tests. For instance, in January 2023, QIAGEN and Helix entered in a partnership to advance next-generation sequencing companion diagnostics for hereditary disorders. This collaboration will leverage the Helix Laboratory Platform alongside QIAGEN’s biopharma relationships and NGS capabilities. These partnerships facilitate the translation of cutting-edge research into clinical applications, driving market expansion and improving personalized medicine approaches for various diseases.
The microarray technology segment is expected to grow at the fastest CAGR of 17.22% over the forecast period, due to advancements in technology. Enhanced microarray platforms now offer higher resolution and greater accuracy, enabling comprehensive analysis of genetic variations and gene expression. These technological improvements facilitate the identification of disease-associated genes and biomarkers, driving the adoption of microarray-based tests in research and clinical settings. The continuous evolution of microarray technology is expanding its applications in personalized medicine, contributing to the robust growth of this market segment.
Hospitals and clinics dominated the market with the largest revenue share of 51.4% in 2023, driven by increased funding and the rising prevalence of genetic disorders. Financial support from government initiatives and private investments is enhancing the infrastructure and capabilities of healthcare facilities. As the incidence of genetic disorders continues to rise, hospitals and clinics are increasingly adopting precision genomic testing to provide accurate diagnoses and personalized treatment plans. This trend is propelling the expansion and development of genomic testing services within clinical settings.
Diagnostic laboratories are anticipated to grow at the highest CAGR over the forecast period, fueled by advancements in technology, ongoing research, and increased demand for clinical testing of genetic disorders. Diagnostic labs are integrating sophisticated genomic technologies like next-generation sequencing (NGS) and advanced bioinformatics to enhance diagnostic accuracy and efficiency. This sector's growth is driven by the need for precise genetic analysis in disease diagnosis and treatment planning, addressing the growing incidence of genetic disorders and supporting personalized medicine approaches in healthcare settings.
Precision Genomic Testing Market Top Key Companies:
Precision Genomic Testing Market Recent Developments
Precision Genomic Testing 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 Precision Genomic Testing market.
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