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How Is The Genomics Services Market Expected To Grow In Terms Of Size?

The growth of the genomics services market has been swift in the past few years. The market, which was valued at $15.51 billion in 2024, is expected to exponentially increase to $18.29 billion in 2025, at a compound annual growth rate (CAGR) of 18.0%. This momentum in the historical period is a result of the introduction of next-generation sequencing technologies, the growing emphasis on genomics in cancer investigation, advances in pharmacogenomics, expanding usage of genomics in agriculture, and the emergence of direct-to-consumer genomics testing services.

The market for genomics services is predicted to undergo a rapid expansion in the coming years, expecting to rise to a valuation of $33.64 billion in 2029, with a compound annual growth rate (CAGR) of 16.5%. The anticipated growth during this period can be associated with the rising incorporation of precision medicine, an increased emphasis on research into complex diseases, a growing fascination with microbiome research, increased adoption of companion diagnostics, and a rising integration of genomics into regular healthcare procedures. Throughout the forecasted period, notable trends include the rapid progress in single-cell genomics, the growth of personalized genomics services, the integration of multi-omics analysis, the application of AI and machine learning in genomics interpretation, and the emergence of cloud-based genomics platforms.

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What Market Forces Are Contributing To The Growth Of The Genomics Services Market?

The genomics services market is set to expand, fuelled by the escalating need for gene therapy. Gene therapy, a medical approach designed to prevent or cure diseases by addressing the core genetic problem, offers specialized treatment for genetic disorders and chronic ailments by tackling the root genetic causes. Genomic services prove critical in gene therapy, serving to target the right tissue, quantify and characterize viral vectors, and comprehend the shedding risk. For example, in January 2023, The American Society of Gene & Cell Therapy (ASGCT), a US-based non-profit medical organisation, stated that the gene therapy pipeline saw a growth of 6%, with five gene therapies greenlit in 2022. Moreover, in 2022, the pipeline for gene, cell, and RNA therapies, spanning from preclinical to pre-registration, grew by 7%, culminating in 3,726 therapies being developed. Consequently, the rising demand for gene therapy is fuelling the growth of the genomics services market.

How Is The Genomics Services Market Segmented Across Key Categories?

The genomics servicesmarket 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

What Key Trends Are Driving Growth In The Genomics Services Market?

Leading firms in the genomics services market are concentrating on broadening their service range by incorporating sophisticated solutions such as advanced long-read sequencing services, in response to the rising demand for in-depth genomic analysis and individualized medicine. These advanced long-read sequencing services utilize pioneering technologies to examine genetic material through longer sequence reads, enabling a more comprehensive and accurate depiction of DNA and RNA. To illustrate, in April 2024, Clinical-Microbiomics A/S, a biotech firm based in Denmark, introduced advanced long-read sequencing services, which cover 16S, ITS, 18S rRNA, isolate and metagenomics sequencing. These services are crafted to cater to the rigorous needs of academic, clinical and industrial research professionals, delivering exceptional resolution and quality in microbial examination. The expanded long-read sequencing capacity, offering a multitude of sequencing choices, sets out to transform the standards of microbial analysis and microbiome research. These advancements represent a noteworthy progression in microbiome research, equipping researchers with intricate knowledge about microbial communities and promoting revolutionary findings in this domain.

Who Are The Major Stakeholders Operating In The Genomics Services Market?

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 Do Regional Dynamics Influence The Genomics Services Market Performance?

North America was the largest region in the genomics services market in 2024. 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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