Functional Genomics Market Size to Reach USD 29.40 Billion in 2032
The Functional Genomics Market size was USD 10.55 Billion in 2024 and is expected to register a revenue CAGR of 13.6% during the forecast period
April 29, 2025 – Emerging use in agriculture and environmental research is a key driver driving functional genomics market revenue growth. Biotechnological advancements are making functional genomics platforms more accessible, allowing researchers to conduct high-throughput genome investigations on a wider range of species. Adoption of new methodologies by agricultural researchers will broaden the breadth of functional genomics investigations and their relevance to various agricultural systems.
On November 2024, Solis Agrosciences, a trusted partner for high-quality AgTech research services, has announced the acquisition of Ferris Genomics’ sequencing and bioinformatics platform, which will allow Solis to provide end-to-end genomics services to agriculture customers. Whole-genome sequencing, skim sequencing, imputation, and personalized genomics-driven breeding program planning are all part of the Ferris platform. Founded by genomics experts, Ferris has provided high-quality data across a variety of plant and animal research and breeding programs in row crops, specialty crops, and livestock.
Perhaps the most challenging task facing functional genomics and systems biology to date is the development of bioinformatics tools that will integrate and analyse data from many ‘omics’ platforms in a complete manner to provide a holistic view of cellular systems and networks. Another issue is to merge several relational databases, statistically deconstruct them, and display the results in a way that is understandable to humans. Another challenge is that various cells in the organism behave differently.
Key Highlights:
- CRISPR/Cas9 technology segment is expected to register the fastest growth rate over the forecast period. CRISPR technology distinguishes itself from other genome editing technologies by requiring only the cloning of a short DNA oligonucleotide into an appropriate plasmid to establish a functioning CRISPR system. Large-scale functional genomics screening is a strong method for systematically investigating gene function. CRISPR-based technologies, which are programmable and multiplexable, have been frequently used to induce massively parallel genetic alterations in large-scale functional genomics screens.
- Drug discovery & development segment is expected to account for the largest market share in 2024. Next-generation genome sequencing and advanced genome-wide functional genomics technologies have resulted in a large rise in the identification of novel pharmacological target possibilities, as well as an improved understanding of the significance of these genomic and molecular changes to illnesses. As a functional genomic tool for target discovery, high-throughput gene silencing via RNA interference screening has become the standard method.
- North America accounted for the largest market revenue share in the functional genomics market in 2024 due to expansion of genomic databases and AI-powered platforms. On January 2025, leading US health systems, including Advocate Health, CommonSpirit Health, Henry Ford Health, Northwell Health, Providence, and Trinity Health, have announced the Truveta Genome Project, an innovative collaboration to generate genetic data from tens of millions of consented and de-identified volunteers, resulting in the largest and most diverse database of genotypic and phenotypic information ever assembled. Truveta and its member health systems will collaborate with the Regeneron Genetics Centre (RGC) to sequence the exomes of the first ten million participants. The Truveta Genome Project will exclusively use Microsoft Azure as its cloud provider.
- Some major companies in the market report include Illumina, Inc., Genomics Ltd, Enhanc3D Genomics Ltd, Samplix ApS, ALS Limited, Arima Genomics, MEDiC Life Sciences, Revvity, Inc., Phase Genomics, Inc., QIAGEN N.V., F. Hoffmann-La Roche Ltd., BD Biosciences, Thermo Fisher Scientific, Inc., Integrated DNA Technologies, Inc., and Others.
- On April 2025, Scale Biosciences, Inc., a pioneer in highly scalable single cell technology, has announced its involvement in the Chan Zuckerberg Initiative’s (CZI) Billion Cells Project at the Chan Zuckerberg Biohub New York Affiliate Symposium. Scale Bio has joined technology partners 10x Genomics and Ultima Genomics in this historic project to build an unparalleled one billion cell dataset to drive rapid advancement in cell biology through AI model development.
- On April 2025, Breakthrough Genomics has developed a literature library that includes more than 10 million genetic variations, as well as extensive variant-patient information, functional research, disease segregation data, and more. The new database has been integrated into the company’s AI-powered genomic analysis platform, Virtual Geneticist. It is intended to simplify and automate genetic variation classification for clinical reporting.
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Navistrat Analytics has segmented functional genomics market based on product and service, technology, application, and end-use:
- Product and Service Outlook (Revenue, USD Billion; 2022-2032)
- Instruments
- Consumables & Reagents
- Software & Data Analysis Tools
- Services
- Technology Outlook (Revenue, USD Billion; 2022-2032)
- CRISPR/Cas9 Technology
- RNA Interference (RNAi)
- Next-Generation Sequencing (NGS)
- Microarray Technology
- Polymerase Chain Reaction (PCR)
- Application Outlook (Revenue, USD Billion; 2022-2032)
- Drug Discovery & Development
- Clinical Diagnostics
- Agricultural Genomics
- Toxicogenomics
- Biomarker Discovery & Validation
- End-Use Outlook (Revenue, USD Billion; 2022-2032)
- Academic & Research Institutes
- Pharmaceutical & Biotechnology Companies
- CRO and CDMO
- Hospitals & Diagnostic Laboratories
- Regional Outlook (Revenue, USD Billion; 2022-2032)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Benelux
- Nordic Countries
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Oceania
- ASEAN Countries
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- GCC Countries
- South Africa
- Israel
- Turkey
- Rest of MEA
- North America