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What is the Expected Growth Rate of the Genomics Services Market from 2024 to 2033?
The genomics services market has also experienced rapid growth, expected to rise from $13.16 billion in 2023 to $15.51 billion in 2024 at a CAGR of 17.9%. The factors contributing to this growth include the emergence of next-generation sequencing technologies, a focus on genomics in cancer research, advancements in pharmacogenomics, and the rise of direct-to-consumer genomics testing services.

The genomics services market is expected to experience rapid growth, projected to reach $30.07 billion by 2028, with a CAGR of 18%. Growth is attributed to precision medicine adoption, research on complex diseases, microbiome interest, companion diagnostics, and genomics integration into healthcare. Key trends include advancements in single-cell genomics, personalized genomics services, multi-omics analysis, AI in genomics interpretation, and cloud-based platforms.

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What Key Factors Are Fueling the Growth of the Genomics Services Market?
The rising demand for gene therapy is anticipated to drive the growth of the genomics services market in the coming years. Gene therapy aims to treat or prevent diseases by targeting genetic issues. It offers precise treatments for genetic disorders and chronic illnesses by addressing their root causes. Genomic services play a critical role in gene therapy by identifying the correct tissues, measuring and characterizing viral vectors, and assessing shedding risks. For example, in January 2023, The American Society of Gene & Cell Therapy (ASGCT) reported a 6% expansion in the gene therapy pipeline, with five therapies approved in 2022. Moreover, in 2022, the development pipeline for gene, cell, and RNA therapies grew by 7%, totaling 3,726 therapies. Thus, the rising demand for gene therapy is propelling the genomics services market.

What Are the Major Segments of the Genomics Services Market?
1) By Product: Instruments Or Systems Or Software; Consumables And Reagents
2) By Services Type: Gene Expression Services (RNASeq); Epigenomics Services; Genotyping; Next-Generation Sequencing; Sanger’s Sequencing; Other Service Types
3) By End-User: Research Institutes; Healthcare Facilities And Diagnostic Centers; Pharmaceutical And Biotechnological Companies; Contract Research Organizations (CROs), Others End Users

What New Trends Are Transforming the Genomics Services Market?
Major companies in the genomics services market are expanding their offerings with advanced long-read sequencing services to meet demands for comprehensive analysis. In April 2024, Clinical-Microbiomics A/S launched services designed for rigorous academic and industrial research, enhancing microbial analysis capabilities.

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Which Regions Are Driving Growth in the Genomics Services Market?
North America was the largest region in the genomics services market in 2023. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the genomics services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Genomics Services Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the genomics services market, its market share, and analyzes key competitors along with their market positions.

The Table Of Content For The Genomics Services Market Include

1. Genomics Services Market Executive Summary
2. Genomics Services Market Segments
3. Genomics Services Market Size And Template Market Growth Rate
4.  Key Genomics Services Market Trends
5. Major Genomics Services Market Drivers
……
25. Key Mergers And Acquisitions In The Genomics Services Market
26. Top Genomics Services Companies
27. Genomics Services Market Opportunities And Strategies
28. Genomics Services Market, Conclusions And Recommendations
29. Appendix

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