The U.S. genomics market size was estimated at USD 13.85 billion in 2024 and is projected to hit around USD 67.15 billion by 2034, growing at a CAGR of 17.1% during the forecast period from 2025 to 2034.
The demand for gene therapy and personalized medicine is surging, fueling substantial investments in genomics research and development. Additionally, breakthroughs in drug discovery are leveraging genomics technologies to efficiently identify potential drug targets. With the rising incidence of cancer, cancer genomics has gained significant traction as researchers delve into the genetic foundations of various cancers. Consumer genomics is rapidly growing, with direct-to-consumer genetic testing services becoming increasingly popular. Factors such as declining sequencing costs, technological advancements, and the push for personalized medicine are accelerating the market's transformation.
Additionally, the entry of new industry players, significant government funding, and expanding applications in healthcare and biotechnology contribute to this rapid growth. In 2024, the U.S. dominated the genomics market, accounting for 36.8% of total revenue. the regulatory framework for biotechnology in the country is overseen by three key federal agencies: the FDA, which ensures genetically modified (GM) foods meet safety standards; the EPA, which regulates substances used in GM plants and oversees pesticide use; and the USDA's APHIS, which ensures GM plants do not pose risks to other plant species. Though privacy regulations are not exclusive to genomics, they play a crucial role, with various state laws governing genomic data privacy and usage. In June 2020, the USDA revised its regulations for GMOs and gene-edited plants, allowing developers to self-determine regulatory compliance. However, concerns persist about environmental impacts, food safety, trade disruptions, and consumer acceptance.
| Industry Worth | Details |
| Market Size in 2024 | USD 13.85 Billion |
| Market Size in 2025 | USD 16.22 Billion |
| Market Size by 2034 | USD 67.15 Billion |
| Market Growth Rate from 2025 to 2034 | CAGR of 17.1% |
Regulatory scrutiny continues, especially for gene-edited crops modified using CRISPR technology. Functional genomics dominated the market in 2024, contributing 35.2% of total revenue. This field focuses on understanding gene functions, interactions, and regulatory mechanisms. Researchers employ cutting-edge techniques such as RNA sequencing, CRISPR-Cas9, and gene expression profiling to investigate the genetic underpinnings of biological processes and diseases. Functional genomics is crucial in drug discovery, personalized medicine, and disease diagnostics. However, challenges such as data analysis complexity, ethical concerns, and the demand for sophisticated bioinformatics tools remain.
This field examines biological pathways and networks to understand gene interactions and their impact on cellular processes. Researchers utilize pathway analysis to pinpoint key signaling pathways related to diseases, drug responses, and toxicity. It plays a pivotal role in drug target identification, biomarker discovery, and personalized treatment strategies. Advances in omics data integration, network biology, and machine learning are enhancing pathway analysis capabilities. However, compliance with data privacy regulations and ethical guidelines remains critical, especially when working with patient-specific genomic data. The genomics market is on an upward trajectory, driven by cutting-edge innovations, increased research funding, and expanding applications in healthcare and biotechnology. While regulatory challenges and ethical considerations persist, the adoption of genomics-driven solutions in drug discovery, precision medicine, and diagnostics underscores its transformative potential. As technology continues to evolve, genomics is poised to revolutionize modern medicine and scientific research.
Published by Laxmi Narayan
For any questions about this dataset or to discuss customization options, please write to us at sales@statifacts.com
| Stats ID: | 8007 |
| Format: | Databook |
| Published: | February 2025 |
| Delivery: | Immediate |
| Stats ID: | 8007 |
| Format: | Databook |
| Published: | February 2025 |
| Delivery: | Immediate |
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