Functional Genomics Market to Grow with a CAGR of 9.25% through 2029
Rising prevalence of chronic diseases such is expected to
drive the growth of global functional genomics market during the forecast
period 2025-2029
According to TechSci Research report, “Functional Genomics Market – Global Industry Size, Share,
Trends, Competition Forecast & Opportunities, 2029”, the Global
Functional Genomics Market stood at USD 9.54 billion in 2023 and is
anticipated to grow with a CAGR of 9.25% in the forecast period, 2025-2029. The Global Functional Genomics Market represents a dynamic and rapidly evolving sector situated at the intersection of genetics, molecular biology, and bioinformatics. This market encompasses a diverse array of technologies and methodologies aimed at elucidating the functions and interactions of genes within biological systems. Key drivers of this market include advancements in CRISPR technology, enabling precise gene editing, and the integration of omics technologies such as genomics, transcriptomics, proteomics, and metabolomics. These breakthroughs empower researchers to conduct comprehensive studies on genes, their expressions, and the associated proteins and metabolites, thereby offering a holistic understanding of biological processes. The growth of this market is propelled by increasing applications in drug discovery, personalized medicine, and agricultural biotechnology. North America stands as a frontrunner in this market, benefiting from a robust research infrastructure, substantial funding, and collaborations between academia and industry. Moreover, the emphasis on ethical genomics research and the growing demand for precision medicine contribute to the market's expansion on a global scale. As the field continues to innovate, with technologies like CRISPR-Cas9 and single-cell genomics gaining prominence, the Global Functional Genomics Market assumes a pivotal role in advancing our comprehension of genetics, driving therapeutic discoveries, and shaping the future landscape of healthcare and biotechnology.
Browse over XX Market data Figures spread
through XX Pages and an in-depth TOC on "Global
Functional Genomics Market”
Global Functional Genomics Market is segmented
into product, technology, application, end user, regional
distribution, and company.
In 2023, Based on product, the market is categorized into kits & assays and instruments. Kits & assays emerged as the dominant category, attributed to their essential role in facilitating user-friendly, standardized, and high-throughput experimental procedures. These products offer convenience, reproducibility, and time efficiency in functional genomics research, thus garnering widespread adoption. Researchers benefit from pre-packaged solutions for tasks such as gene editing, RNA interference, and gene expression analysis, streamlining experimental workflows. The availability of comprehensive kits and assays simplifies experimental design and execution, making them indispensable tools for researchers at all levels and driving their dominance in the market.
In terms of technology, the market is segmented into Next-Generation Sequencing (NGS), Polymerase Chain Reaction (PCR), Microarray, and Other Technologies. Next-Generation Sequencing (NGS) emerged as the dominant technology in 2023, credited to its transformative impact on genomics research. NGS offers high-throughput, cost-effective DNA sequencing, allowing simultaneous analysis of multiple samples. Its applications in functional genomics, personalized medicine, and diagnostics contribute to widespread adoption. Continuous technological advancements, reduced sequencing costs, and improved data accuracy further bolster NGS's dominance. The versatility of NGS platforms in generating large-scale genomic data aligns with the growing demand for comprehensive and precise genetic information, solidifying its position as a cornerstone technology in the evolving landscape of genomics research and applications.
Major companies operating in Global Functional
Genomics Market are:
- Agilent
Technologies, Inc.
- Becton, Dickinson
and Company
- Bio-Rad
Laboratories, Inc.
- Danaher Corporation (Integrated DNA Technologies, Inc.)
- F. Hoffmann-La
Roche Ltd.
- Illumina, Inc.
- MRM Proteomics Inc.
- Perkin Elmer, Inc.
- QIAGEN N.V.
- Thermo Fisher
Scientific, Inc
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“The Global Functional Genomics Market is driven by
advancements in gene editing technologies like CRISPR-Cas9, enabling precise
manipulation of genes. Integration of omics technologies, such as genomics and
proteomics, enhances comprehensive biological insights. Rising applications in
drug discovery, personalized medicine, and agricultural biotechnology propel
market growth. Increased funding for genomics research, a supportive regulatory
environment, and collaborations between academia and industry contribute to the
market's expansion. The emphasis on ethical genomic research, coupled with the
demand for targeted therapies, fuels innovation, making functional genomics a
key player in advancing our understanding of genetics and its applications in
diverse sectors” said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based management consulting firm.
“Functional Genomics Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Product (Kits & Assays, Instruments), By Technology (Next-Generation Sequencing (NGS), Polymerase Chain Reaction (PCR), Microarray, and Other Technologies), By Application (Epigenomics, Transcriptomics, Proteomics, and Metabolomics), By End User (Academic and Research Institutions, Biotechnology and Biopharmaceutical Companies, and Other End Users (Hospitals, Clinics, and Diagnostic Labs)), By Region and Competition, 2019-2029F ”, has evaluated
the future growth potential of Global Functional Genomics Market and provides
statistics & information on Market size, structure and future Market growth.
The report intends to provide cutting-edge Market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Functional Genomics Market.
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