The latest market report published by Acute Market Reports â Genomics Market – Growth, Future Prospects, Competitive Analysis, 2018 – 2026,â the global genomics market was valued at US$ 13,122.9 Mn in 2017 expanding at a CAGR of 10.3% from 2018 to 2026. Market Insights Genomics is the study of genetic coding of an organism and projected to play a vital role in management of disease conditions in the future. Genomics has proved fruitful in diagnosis and prognosis of various chronic and congenital diseases. For instance, its application in BRCA1 mutation identification has been gold standard in cancer research and treatment. The idea of whole genome sequencing is becoming a common practice owing to precision medicine trends, investments and favorable collaborations between industry participants and regulatory authorities. The Precision Medicine Initiative (PMI) in the U.S. aims to collect database of health data of 1 million volunteers including genetics and lifestyle factors. In the U.K., Genomics England aims to sequence 1 million genome from patients with various diseases from different genomic medicine centers. Many pharmaceutical companies such as GSK, Roche, and AstraZeneca have ventured in the GENE Consortium in Europe giving them access to database of 5,000 sequenced genomes. Ireland, Iceland and China are some of the other countries that have launched their private programs to gain a better understanding in personalized medicine and genomics in clinical application. However, concerns regarding the security and privacy of the information, high cost of programs are some of the challenging factors of this market.