According to P&S Intelligence, the market generated revenue of $18.2 billion in 2019 and it is expected to reach $68.0 billion by 2030. This growing market is witnessing partnerships among key players, due to which they are aimed at expanding their product portfolio, promoting development and innovation, and magnifying their geographical presence.

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Governments across the world are investing hefty amounts and implementing several initiatives for the development and promotion of genomics solutions. For example, in 2019, the Government of India announced that the nation would introduce its first human genome mapping initiative to help researchers and scientists in developing effective therapies for life-threatening diseases, such as cancer. This project will be developed by the Department of Biotechnology (DBT) to scan 20,000 Indian genomes, for over five years, to create diagnostic tests and effective therapies for the management of genetic diseases.

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On account of the widening product portfolio and the increasing research activities, awareness regarding genomics products has significantly increased over the years. For instance, dipping cost of sequencing services has led to the development of cost-effective deoxyribonucleic acid (DNA) kits and services, which have become widely available to customers. This will eventually lead to the development of novel treatments that will further ameliorate the diagnosis and disease management for patients.

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Geographically, the Asia-Pacific genomics market will exhibit the fastest growth in the forecast period. This can be primarily attributed to the rising number of research activities in the field of genomics, in nations such as Japan, China, and India, and the surging investments from public and private organizations to support genome research. China is one of the leading players in the APAC market. Furthermore, countries such as Australia and India are also projected to make significant contribution to the regional market, on account of abundant research and investments for the development of genetics.