Blockchain in Genomics Market Research Report: By Component (Software, Services, Platforms), By Application (DNA Sequencing, Genome Analysis, Variant Identification, Drug Discovery, Clinical Research), By Deployment Model (On-premise, Cloud-based), By End-User (Pharmaceutical and Biotechnology Companies, Academic and Research Institutions, Hospitals and Clinics, Government Agencies) and By Region (North America, Europe, South America, Asia Pacific, Middle East and Africa)- Forecast to 2032

Blockchain in Genomics Market Overview:

As per MRFR analysis, the blockchain in genomics market size was estimated at 7.04 (USD Billion) in 2022. The blockchain in genomics market industry is expected to grow from 10.07 (USD Billion) in 2023 to 251.42 (USD Billion) by 2032. the blockchain in genomics market CAGR (growth rate) is expected to be around 42.98% during the forecast period (2024-2032).

Key Blockchain in Genomics Market Trends Highlighted

Blockchain technology is revolutionizing the genomics market by enhancing data security, streamlining processes, and facilitating collaboration. Key market drivers include the rising demand for precision medicine, the increasing prevalence of genomics data, and the need for improved data management.

Opportunities for growth in the blockchain in genomics market lie in the exploration of personalized medicine, the development of genomic databases, and the integration of blockchain with other technologies like artificial intelligence.

Recent trends in the market include the adoption of blockchain technology by healthcare providers, the development of blockchain-based genomics platforms, and the emergence of blockchain consortia to promote collaboration and data sharing. By leveraging blockchain's capabilities, the genomics market is expected to improve patient outcomes, accelerate drug discovery, and empower individuals with control over their genetic information.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Blockchain in Genomics Market Drivers

Growing Demand for Personalized Medicine

The growing demand for personalized medicine is a major driver of the global blockchain in genomics market. Personalized medicine is the tailoring of medical treatment to the individual characteristics of each patient, and it requires a deep understanding of the patient's genome. Blockchain technology can be used to securely store and share genomic data, making it easier for researchers to develop personalized treatments.

In addition, blockchain can be used to track the progress of patients through clinical trials, ensuring that they receive the most appropriate care. As the demand for personalized medicine continues to grow, so too will the demand for blockchain technology in the genomics market.

Rising Prevalence of Chronic Diseases

The next major driver of the global blockchain in genomics market is the rising prevalence of chronic diseases. Chronic diseases, such as cancer and heart disease, are often genetic. Blockchain can be used to identify genetic variants with a high risk of developing these disorders. This data can be utilized to make cures and prevention. As the need for chronic diseases grows, demand for blockchain in the genomics market will grow.

Technological Advancements

Besides, technological innovations are another driving force for the growth of the global blockchain in genomics market. The advent of new sequencing technologies enables unmatched speed and reduced costs of sequencing the human genome. As a result, an enormous amount of the human genome sequence was generated over the years.

This resulted in the need for using blockchain for storing and managing the generated data. Moreover, new blockchain technologies are being created, which facilitate the development of blockchain applications. In other words, the growth of the genomics market will be accompanied by the growing demand for blockchain.

Blockchain in Genomics Market Segment Insights:

Blockchain in Genomics Market Component Insights

The global blockchain in genomics market comprises three components, namely, software, services, and platforms. In 2023, the software segment held the largest market share of 45.3%, and it is expected to continue leading the market during the forecast period.

The growth of the software segment is driven by the mounting demand for blockchain-based software solutions to enhance the efficiency and security of managing and analyzing genomic data. The services segment is anticipated to grow significantly during the forecast period.

There is increasing adoption of blockchain-based services in the healthcare systems and by research-based institutions and pharmaceutical companies to facilitate sharing of data and improve their operations and workflows. The services segment is expected to record a CAGR of 46.2%.

The platforms segment is expected to grow at a CAGR of 44.1%. The growth is linked to the rising adoption of blockchain technology in the healthcare industry attributable to improved security of data as well as shareable nature, which enhances operations of storing and analyzing genomic data.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Blockchain in Genomics Market Application Insights 

The application segment of the global blockchain in genomics market is expected to develop significantly during the given period of the forecast. This can be attributed to the fact that there is a rising adoption of technology in the healthcare sector.

There are many possibilities for implementing blockchain technologies in genomic applications, such as enhancing data security and increasing the proliferation of secure and transparent data sharing and collaboration. The DNA sequencing segment is expected to hold a substantial share of the market, as there is a rising demand for sequencing of DNA and the emergence of personalized medicine and precision medicine.

The genome analysis segment is also anticipated to develop quickly. It may use technology to improve the method and store whole genome data of the patient, which opens the possibility of coming up with better treatment for genetic diseases.

The variant identification segment is another promising area that may make use of the offered technologies. It will be used for the purpose of tracking and identifying genetic variants that are related to various diseases. This data may be used for coming up with new diagnostic tests. The same segment of the market may be engaged in developing new drugs for diseases.

The organization of a drug discovery segment is another prospective application that is able to benefit from the developments. Blockchain may facilitate the establishment of a system that can store and share drug discovery data in a secure and transparent manner, which may enhance the possibility of developing better and more drugs in different areas.

Finally, the clinical research segment may also heavily benefit from the use of blockchains. A system of new data storage and sharing may enable the creation and implementation of new and improved clinical trials.

Blockchain in Genomics Market Deployment Model Insights

The deployment model segment in the global blockchain in genomics market is bifurcated into on-premises and cloud-based. Cloud-based deployment model is projected to dominate the market during the forecast period.

It is attributed to the rising adoption of cloud computing platforms and services, which reduces the cost of infrastructure and maintenance. In addition, cloud-based solutions enable real-time data sharing and collaboration among various stakeholders in the genomics ecosystem, including researchers, clinicians, and healthcare providers.

On the other hand, the on-premises deployment model is expected to witness a steady growth rate during the forecast period. It is primarily due to the security and data privacy concerns associated with genomics data. Healthcare organizations prefer to deploy blockchain solutions on-premises to maintain complete control over their data and ensure compliance with regulatory mandates.

Blockchain in Genomics Market End-User Insights

Pharmaceutical and biotechnology companies, academic and research institutions, hospitals and clinics, and government agencies are the key end-users of the global blockchain in genomics market. Pharmaceutical and biotechnology companies held the largest market share in 2023 and are expected to continue dominating the market throughout the forecast period.

The growing adoption of blockchain technology for secure data management and sharing, as well as the increasing need for personalized medicine, are driving the growth of this segment. Academic and Research Institutions are also significant end-users, as they use blockchain to facilitate collaboration and data sharing among researchers.

Hospitals and clinics are increasingly adopting blockchain to improve patient data management and streamline healthcare processes. Government Agencies are also playing a role in promoting the adoption of blockchain in genomics, through funding research and initiatives.

Blockchain in Genomics Market Regional Insights

The global blockchain in genomics market was valued at USD 10.07 billion in 2023 and is expected to reach USD 251.42 billion by 2032, at a CAGR of 42.98% over the forecast period. Regionally, North America held the largest market share in 2023 and is expected to maintain its dominance throughout the forecast period.

The growth of the North American market is attributed to the presence of major players in the region, such as IBM, Microsoft, and Oracle. Europe is expected to be the second-largest market for blockchain in genomics, followed by APAC, South America, and MEA.

The growth of the European market is attributed to the increasing adoption of blockchain technology in healthcare and life sciences. The APAC region is expected to witness significant growth in the coming years, owing to the increasing investment in healthcare infrastructure and the growing adoption of blockchain technology in the region.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Blockchain in Genomics Market Key Players and Competitive Insights:

The key players in the blockchain in genomics market are focusing on gaining a competitive advantage by developing and launching new innovative products. Most key players in the Blockchain in genomics Market are investing in research and development to enhance and gain new capabilities to gain a competitive advantage. As a result, the structure of blockchain in genomics market includes both well-established and emerging developers, all with unique advantage points.

Nebula Genomics is a leading company that provides personal genomics services. Nebula has a range of products accompanying the company’s service, including whole-genome sequencing, exome sequencing, and mitochondrial sequencing. Nebula provides access to its platform, allowing users to securely store their genetic data and manage it over time.

The users have access to a range of tools and resources for interpreting and understanding their results. The company is known for its commitment to ensuring user privacy and ensuring data security for its user base. Additionally, the company relies on its other key revolutionary principle, which is the aim of providing users with actionable insights related to their genetic health.

EncrypGen is another innovative and a major competitor in the Blockchain in genomics Market that also operates in the United States. The company provides a secure and scalable genomic data management system on the users’ online platform. The users rely on EncrypGen’s blockchain-based online platform to ensure secure and private access to their genomic data.

Researchers and healthcare providers can rely on the platform for data sharing and collaboration, leading to the development of new insights related to disease risk and progression. Similarly, EncrypGen is one of the leading companies in the market, committed to Blockchain technology and providing novel solutions with regards to genomic data management.

Key Companies in the Blockchain in genomics Market Include:

• Oxford Nanopore Technologies


• PacBio


• Guardtime


• Agilent Technologies


• Illumina


• BioRad Laboratories


• 10x Genomics


• QIAGEN


• EncrypGen


• Nebula Genomics


• BGI Genomics


• Thermo Fisher Scientific


• Personalis


• Luna DNA

Blockchain in genomics Market Developments

The global blockchain in genomics market is projected to reach a value of USD 251.42 billion by 2032, exhibiting a CAGR of 42.98% during the forecast period (2024-2032). Key factors driving market growth include the increasing adoption of blockchain technology in healthcare, the growing need for secure data management and sharing, and the rising demand for precision medicine.

Recent developments in the market include the launch of blockchain-based platforms for genomic data sharing and analysis, such as Nebula Genomics and EncrypGen. Additionally, several research initiatives are underway to explore the potential of blockchain in genomics, including projects funded by the National Institutes of Health (NIH) and the European Commission.

Blockchain in Genomics Market Segmentation Insights