2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!

What Industry-Specific Factors Are Fueling the Growth of theGenomics Services Market?

The growth of the genomics services market is forecasted to be driven by the rising demand for gene therapy. Gene therapy, a medical approach that addresses the underlying genetic problem, has the potential to prevent or treat illnesses. This form of therapy offers specific treatments for chronic diseases and genetic disorders by targeting the root genetic factors. Genomics services come into play in gene therapy for tissue targeting, quantifying, and characterizing viral vectors, along with understanding potential shedding risk. For example, The American Society of Gene & Cell Therapy (ASGCT), a non-profit medical organization in the U.S., reported in January 2023 that the gene therapy pipeline had grown by 6%. This growth was achieved with the approval of five gene therapies in 2022. Additionally, the pipeline for gene, cell, and RNA therapies, stretching from preclinical to pre-registration stages, swelled by 7% in 2022, yielding a total of 3,726 therapies in development. Hence, the escalating demand for gene therapy continues to fuel the expansion of the genomics services market.

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#What Long-Term Growth Rate is Expected for theGenomics Services Market Between 2025 and 2034?

In recent years, there has been a fast-paced expansion in the size of the genomics services market. It is anticipated to increase from $15.51 billion in 2024 to $18.34 billion in 2025, with a compound annual growth rate (CAGR) of 18.3%. The growth during the historic period can be credited to the emergence of next-generation sequencing technologies, a heightened focus on genomics within the world of cancer research, progress in pharmacogenomics, an increased use of genomics in agricultural applications, and the popularity of direct-to-consumer genomics testing services.

Expectations are high for the genomics services market, with projections forecasting substantial growth in the upcoming years. The market is slated to reach a value of $35.41 billion in 2029, expanding at a compound annual growth rate (CAGR) of 17.9%. This anticipated growth for the forecast period can be credited to factors such as the increasing acceptance of precision medicine, enhanced research focus on intricate diseases, rising interest in microbiome research, the accelerated use of companion diagnostics, and the growing incorporation of genomics into standard healthcare practices. Key trends expected to influence the market during the forecast period include rapid advancement in single-cell genomics, the growth of personalized genomics services, the merging of multi-omics analysis, the use of AI and machine learning in deciphering genomics, and the development of cloud-based genomics platforms.

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What Key Market Trends and Innovations Are Shaping the Future of theGenomics Services Industry?

Major firms active in the genomics services sector are concentrating on broadening their range of products by integrating superior services such as advanced long-read sequencing services. These services seek to meet the escalating demand for comprehensive genetic analysis and personalized treatment. Here, cutting-edge technologies are used to examine genetic material using longer sequence reads, which facilitates more extensive and accurate profiling of DNA and RNA. For instance, in April 2024, the Denmark-based biotech company Clinical-Microbiomics A/S introduced its advanced long-read sequencing services that offer 16S, ITS, 18S rRNA, isolate, and metagenomics sequencing options. These offerings are custom-made to fulfill the stringent demands of academic, clinical, and industrial investigators, offering unmatched resolution and quality in microbial investigations. These improved long-read sequencing capacities, featuring an extensive variety of sequencing alternatives, aim to rewrite the rules for microbial analysis and microbiome research norms. These developments constitute a crucial move in the field of microbiome research, providing scientists with in-depth knowledge of microbial populations and paving the way for revolutionary discoveries in the sector.

Which Companies Are Leading the Charge in Expanding theGenomics Services Market Growth?

Major companies operating in the genomics services market are Thermo Fisher Scientific Inc., Danaher Corporation, Laboratory Corporation of America Holdings, Quest Diagnostics Incorporated, Eurofins Scientific SE, Agilent Technologies Inc., Illumina Inc., PerkinElmer Inc., QIAGEN Inc., LGC Limited, Myriad Genetics Inc., Q2 Solutions Inc., BGI Genomics Inc., 10x Genomics Inc., Invitae Corporation, Fulgent Genetics Inc., 23andMe Inc., Oxford Nanopore Technologies plc, Color Genomics Inc., GENEWIZ Inc., Foundation Medicine Inc., Pacific Biosciences Inc., Avance Biosciences Inc., Macrogen Inc

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How is the Global Genomics Services Market Segemented?

The genomics services market covered in this report is segmented –

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

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Which Geographics are Influencing the Growth of 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.

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