Precision Genomic Testing

Global Precision Genomic Testing Market to Reach US$42.3 Billion by 2030

The global market for Precision Genomic Testing estimated at US$16.7 Billion in the year 2024, is expected to reach US$42.3 Billion by 2030, growing at a CAGR of 16.7% over the analysis period 2024-2030. Genomic Testing Consumables, one of the segments analyzed in the report, is expected to record a 18.2% CAGR and reach US$24.6 Billion by the end of the analysis period. Growth in the Genomic Testing Equipment segment is estimated at 15.3% CAGR over the analysis period.

The U.S. Market is Estimated at US$4.4 Billion While China is Forecast to Grow at 15.7% CAGR

The Precision Genomic Testing market in the U.S. is estimated at US$4.4 Billion in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$6.5 Billion by the year 2030 trailing a CAGR of 15.7% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 15.6% and 14.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 12.1% CAGR.

Global Precision Genomic Testing Market – Key Trends & Drivers Summarized

How Is Precision Genomic Testing Transforming Healthcare?
Precision genomic testing is revolutionizing modern medicine by enabling personalized diagnostics, targeted therapies, and early disease detection. By analyzing an individual`s genetic makeup, healthcare providers can tailor treatments based on genetic variations, significantly improving patient outcomes. This approach is particularly impactful in oncology, rare diseases, pharmacogenomics, and reproductive health, where genetic insights play a crucial role in treatment decisions.

The expansion of next-generation sequencing (NGS), CRISPR-based gene editing, and AI-driven bioinformatics has accelerated the adoption of precision genomic testing across various medical fields. Advances in whole genome sequencing (WGS), whole exome sequencing (WES), and liquid biopsy techniques are enhancing diagnostic accuracy, making genomic testing more accessible and cost-effective. As genetic research continues to evolve, the integration of multi-omics approaches—including proteomics and metabolomics—is further refining precision medicine applications.

What Market Trends Are Driving Growth in Precision Genomic Testing?
One of the most significant trends shaping the precision genomic testing market is the increasing demand for personalized medicine. The growing recognition that genetic differences influence drug response has fueled the expansion of pharmacogenomics, which helps determine the most effective medications for individuals based on their genetic profiles. This is particularly important in fields such as oncology, cardiology, and neurology, where genetic factors significantly impact treatment efficacy.

Another key trend is the rising adoption of direct-to-consumer (DTC) genetic testing. Companies offering at-home genomic testing kits for ancestry, disease risk assessment, and lifestyle recommendations have gained popularity, driving market expansion. However, regulatory scrutiny and ethical concerns regarding data privacy remain key challenges in this sector.

Advancements in AI and big data analytics are also transforming the genomic testing landscape. Machine learning algorithms are being used to interpret vast amounts of genomic data, improving the accuracy of disease risk prediction and biomarker discovery. Additionally, cloud-based genomic databases are facilitating large-scale genetic studies, accelerating research into complex diseases and potential therapeutic targets.

Which Regions Are Leading in Precision Genomic Testing Adoption?
North America dominates the precision genomic testing market, driven by strong research funding, high adoption of personalized medicine, and advanced healthcare infrastructure. The United States leads the way with significant investments in genomics research, government initiatives such as the All of Us Research Program, and collaborations between biotech firms and academic institutions.

Europe is also a key player, benefiting from regulatory support, public-private partnerships, and growing awareness of genetic testing’s clinical benefits. Countries like Germany, the UK, and France are advancing precision medicine initiatives, with an emphasis on integrating genomic data into healthcare systems to improve patient care.

Asia-Pacific is experiencing rapid growth in genomic testing, fueled by increasing investments in biotechnology, expanding healthcare access, and government initiatives promoting precision medicine. China, Japan, and South Korea are leading the region’s genomic research efforts, with national programs dedicated to genomic data collection and analysis. Meanwhile, emerging markets in Latin America and the Middle East are gradually adopting precision genomic testing, although challenges such as high costs and limited infrastructure remain barriers to widespread implementation.

The Growth in the Precision Genomic Testing Market Is Driven by Several Factors
One of the primary drivers of market growth is the increasing prevalence of genetic disorders and complex diseases such as cancer, neurodegenerative conditions, and cardiovascular diseases. As early detection and risk assessment become more critical in healthcare, genomic testing is playing an essential role in guiding preventative measures and precision therapies.

Technological advancements in sequencing platforms, including the development of cost-efficient and ultra-fast sequencing techniques, are making genomic testing more accessible. The emergence of portable sequencing devices and automated workflows is further expanding the reach of precision medicine beyond specialized laboratories to clinical settings and point-of-care diagnostics.

Regulatory support and funding initiatives are also accelerating market adoption. Governments worldwide are investing in national genomic databases and precision medicine programs, promoting collaboration between healthcare providers, research institutions, and biotech companies. Additionally, reimbursement policies for genetic testing are evolving, improving affordability and patient access to genomic-based diagnostics.

As the field of genomics continues to advance, the convergence of AI, cloud computing, and molecular biology will further enhance the capabilities of precision genomic testing. With its potential to redefine disease management, drug development, and preventative healthcare, the market is poised for substantial growth, shaping the future of personalized medicine worldwide.

SCOPE OF STUDY:

The report analyzes the Precision Genomic Testing market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Type (Genomic Testing Consumables, Genomic Testing Equipment, Genomic Testing Services); Technology Type (Next-Generation Sequencing Technology, Polymerase Chain Reaction Technology, Microarray Technology, Sanger Sequencing Technology, CRISPR / CAS Systems Technology, Other Technology Types); Application (Oncology Application, Cardiovascular Diseases Application, Neurological Disorders Application, Reproductive Health Application, Rare Diseases Application, Other Applications); End-Use (Hospitals & Clinics End-Use, Diagnostic Laboratories End-Use, Research & Academic Institutes End-Use, Other End-Uses)

Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.

Select Competitors (Total 44 Featured) -

• 23andMe
• Ambry Genetics
• BGI Genomics
• Centogene N.V.
• Color Health, Inc.
• Exact Sciences Corporation
• Foundation Medicine
• Fulgent Genetics
• GeneDx
• Genomic Health (a subsidiary of Exact Sciences)
• Guardant Health
• Illumina, Inc.
• Invitae Corporation
• Luminex Corporation
• Myriad Genetics
• Natera, Inc.
• NeoGenomics Laboratories
• Oxford Nanopore Technologies
• Qiagen
• Thermo Fisher Scientific

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