Genomics Market Share

North America Market Statistics

North America in genomics market is likely to dominate over 45.1% revenue share by 2036. The growth in the region is credited to the surge in drug discovery and disease research owing to the usage of genetic expression on the health of humans. This might increase the sector of the drug screening as well. The National Library of Medicine published a report in 2018 that the academic drug development and discovery success rates were more than 75% in Phase 1 and about 50% and 59% in Phase 2 and Phase 3 respectively.

In the United States, there is a tremendous impact in healthcare advancements along with the spending on healthcare, as the American Medical Association in 2024, estimated that the total health spending in the U.S. will increase by 4% when compared to 2022.

Research on cancer in Canada has been increasing which will fuel the genomic startups. National Institutes of Health published a report in 2024 estimates that in 2024 the cancer cases and deaths might cross 247100 and 88100 respectively.

APAC Market Analysis

Asia Pacific genomics market revenue is set to exceed USD 4.6 Billion by the end of 2036, and will account for the second position owing to the increasing presence of rare diseases that demand whole-genome sequencing. Asia Pacific Economic Cooperation published a report in 2018 estimating that 6-8% of the population was affected by several rare diseases, which is predicted to be about 200 million people in the APAC region.

In China, several genomic techniques are at surge to treat increasing genetic disorders such as diabetes, cancer, and many more. The National Institutes of Health (NIH) predicted in 2023 that the presence of diabetes in China will cross 9.7% by 2030.

Japan is predicted to have high healthcare expenditures which will increase the genomics market size expansion of the healthcare staffing sector. A report in 2022 concluded that there was about 2.2 times growth over the last 30 years in Japan from 1990 to 2015 in healthcare expenditure.

Frequently Asked Questions (FAQ)

In the year 2023, the industry size of the genomics market was over USD 33.4 billion.

The market size of the genomics market is projected to cross USD 335.1 billion by the end of 2036 expanding at a CAGR of 21.1% during the forecast period i.e., between 2024-2036.

The major players in the market are Bio-Rad Laboratories, Inc., BGI Genomics, Color Genomics, Inc., Danaher Corporation, Eppendorf AG, Eurofins Scientific, Fabric Genomics, Agilent Technologies Inc., and others.

In terms of application, the functional genomics segment is anticipated to garner the largest market share of 32.1% by 2036 and display lucrative growth opportunities during 2024-2036.

The market in the North American region is projected to hold the largest market share of 45.1% by the end of 2036 and provide more business opportunities in the future.

Genomics Market Share