Precision Genomic Testing Market Size to Gain USD 62.34 Bn by 2034

The global precision genomic testing market size was valued at USD 15.57 billion in 2024 and is expected to gain around USD 62.34 billion by 2034, growing at a CAGR of 14.88%.

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Key Highlights

• North America dominated the market, securing over 43% of the total share in 2024.

• Asia Pacific is projected to witness the fastest growth, with a CAGR of 20.63% over the forecast period.

• By product and services, the consumables segment led the market with a 46% share in 2024.

• The services segment is anticipated to grow steadily, with a robust CAGR of 15.41% in the coming years.

• By technology, next-generation sequencing (NGS) accounted for a 33% market share in 2024.

• Microarray technology is expanding rapidly, registering a CAGR of 15.80% over the forecast period.

• By application, the oncology segment held the highest share, capturing 33% of the market in 2024.

• The neurological disorders segment is expected to grow at a double-digit CAGR of 16% during the forecast period.

• By end use, hospitals and clinics led the market with a 51% share in 2024.

• The diagnostic laboratories segment is anticipated to expand at the fastest rate over the forecast period.

Role of AI in Precision Genomic Testing Market

1. Accelerated Data Analysis and Interpretation

AI enhances the speed and accuracy of genomic data analysis, enabling rapid identification of genetic mutations and biomarkers. AI-driven algorithms can process vast genomic datasets in a fraction of the time required by traditional methods, significantly reducing turnaround time for precision diagnostics.

2. Improved Accuracy in Genetic Variant Detection

Machine learning models help distinguish between benign and pathogenic genetic variants with higher precision. AI minimizes errors in sequencing data, reducing false positives and false negatives, leading to more reliable diagnostic results.

3. Personalized Treatment Recommendations

AI-powered predictive models analyze patient-specific genetic information to recommend tailored treatment plans. By correlating genetic data with clinical outcomes, AI enhances precision medicine by suggesting the most effective therapies based on an individual’s genetic profile.

4. AI-Powered Drug Discovery and Development

AI facilitates genomic-based drug discovery by identifying potential therapeutic targets. It helps in predicting drug responses, optimizing clinical trials, and accelerating the development of targeted therapies for genetic disorders and cancers.

5. Automation of Genomic Sequencing Workflows

AI streamlines laboratory workflows by automating data pre-processing, variant calling, and report generation. This reduces manual workload, minimizes human errors, and increases efficiency in genomic testing labs.

6. AI in Predictive and Preventive Genomics

By analyzing genomic and lifestyle data, AI predicts the likelihood of developing certain genetic disorders. Early risk assessment allows for proactive medical interventions, lifestyle modifications, and preventive care strategies.

7. Enhancing Population Genomics and Epidemiology

AI processes large-scale genomic data from diverse populations, helping researchers identify genetic predispositions and disease patterns. This aids in public health strategies, personalized healthcare initiatives, and epidemiological studies.

8. AI-Driven Tumor Profiling for Oncology

AI assists in identifying genetic mutations in tumors, leading to more precise cancer classification and treatment selection. AI-powered algorithms improve the accuracy of liquid biopsy analysis, detecting circulating tumor DNA (ctDNA) for early cancer diagnosis.

9. Ethical and Data Security Enhancements

AI ensures robust encryption and security protocols for genomic data storage and sharing. It also helps in maintaining patient privacy by anonymizing sensitive genetic data while facilitating research and collaboration in precision genomics.

10. Integration with Electronic Health Records (EHRs)

AI seamlessly integrates genomic insights with EHRs, allowing clinicians to make informed decisions based on genetic predisposition, treatment history, and real-time health data. This improves patient management and enhances precision healthcare.

Market Overview

The precision genomic testing market is at the forefront of medical advancements, enabling highly accurate genetic analysis for disease prediction, diagnosis, and treatment. Breakthroughs in sequencing technology and computational genomics have paved the way for widespread adoption in clinical settings. The rise of AI-powered genomic platforms is streamlining the interpretation of complex genetic data, enhancing patient outcomes.

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Market Scope

Market Dynamics

Market Drivers

Market growth is fueled by increasing awareness of genetic predisposition to diseases, government funding in precision medicine, and advancements in high-throughput sequencing techniques. The growing importance of early cancer detection and rare disease diagnostics is pushing the demand for precision genomic testing solutions. Collaborations between pharmaceutical companies and genomics firms are also contributing to market expansion.

Market Opportunities

Future opportunities include the expansion of personalized healthcare services, improved integration with electronic health records (EHRs), and AI-driven automation in genetic data analysis. The development of cost-effective sequencing technologies will further democratize genomic testing, making it accessible to a larger population. Precision genomics also has potential applications in reproductive health, newborn screening, and chronic disease management.

Market Challenges

Despite its potential, the market faces challenges such as complex regulatory landscapes, high testing costs, and ethical concerns over genetic data sharing. The shortage of genetic counselors and bioinformatics experts limits the ability of healthcare providers to fully leverage genomic testing. Addressing concerns related to genetic discrimination and patient privacy remains a priority.

Regional Insights

Geographically, North America leads the market due to its strong research ecosystem, high adoption rates, and government support for genomics initiatives. Asia Pacific is emerging as a key growth region, driven by advancements in biotechnology, increasing healthcare spending, and a growing population with unmet medical needs. Europe maintains a steady growth trajectory, with a focus on integrating genomics into national healthcare policies.

Precision Genomic Testing Market Companies

• Danaher
• Merck KGaA
• Revvity, Inc.
• Maravai LifeSciences
• GenScript
• QIAGEN
• PacBio
• Oxford Nanopore Technologies plc.
• Illumina, Inc.
• 10x Genomics, Inc.

Latest Announcement by Market Leaders

• In June 2024, Merck, a leading science and technology company, announced an investment of € 62 million at its Darmstadt headquarters in a new quality control building for its Life Science business. The facility will bring together approximately 135 employees across several departments into one collaborative state-of-the-art space.
• In February 2025, QIAGEN announced the official opening of a new data center in Melbourne, Australia, designed to strengthen its global bioinformatics leadership position in this region of the world. This latest addition reflects QIAGEN’s ongoing commitment to enhance its bioinformatics data infrastructure.

Recent Developments

• In July 2024, Phenomix Sciences partnered with Hello Alpha to introduce personalized genetic testing for obesity, specifically targeting women. Hello Alpha, a virtual primary care platform, seeks to enhance women’s healthcare by offering accessible, affordable, and confidential online medical services.
• In July 2024, Thermo Fisher Scientific Inc. partnered with the National Cancer Institute (NCI), a division of the National Institutes of Health, to advance research on new treatments for Acute Myeloid Leukemia (AML) and Myelodysplastic Syndrome (MDS). As part of the myeloMATCH (Molecular Analysis for Therapy Choice) precision medicine umbrella trial, the collaboration aimed to expedite patient matching for clinical trials.
• In February 2024, Exact Sciences Corp., a provider of cancer screening and diagnostic tests, launched the Riskguard cancer test in the U.S. The Riskguard test offers individualized patient reports that detail gene-specific and familial risks for 10 common cancers.

Segments Covered in the Report

By Product & Service

• Consumables
• Kits
• Reagents
• Equipment
• Services

By Technology

• Next-Generation Sequencing
• Polymerase Chain Reaction
• Microarray Technology
• Sanger Sequencing
• CRISPR/Cas Systems
• Others

By Application

• Oncology
• Cardiovascular Diseases
• Neurological Disorders
• Reproductive Health
• Rare Diseases
• Others

By End Use

• Hospitals and Clinics
• Diagnostic Laboratories
• Research and Academic Institutes
• Others

By Geography

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

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