Gene Therapy Demand Drives Growth In Genomics Services Market Driver: Leading Transformation in the Genomics Services Market in 2025

"What Are the Projected Growth and Market Size Trends for the Genomics Services Market?
The market size for genomics services has seen a swift expansion in the past few years. It's projected to escalate from a value of $15.51 billion in 2024 to approximately $18.34 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 18.3%. The growth experienced during the historic period can be creditted to several factors including the emergence of next-generation sequencing technologies, an intensified focus on genomics within cancer research, advancements in pharmacogenomics, a rise in the utilization of genomics within agriculture, and an increase in direct-to-consumer genomics testing services.

The market size for genomics services is projected to experience a swift expansion in the coming years, ballooning to $35.41 billion in 2029 with an impressive compound annual growth rate (CAGR) of 17.9%. Factors contributing to this anticipated growth within the forecast period include an escalating adoption of precision medicine and magnified research emphasis on complex diseases as well as an emerging interest in microbiome research, increased reliance on companion diagnostics, and the integration of genomics into everyday healthcare routines. Notable trends within the forecast period encompass rapid progress in single-cell genomics, proliferation of individualized genomics services, incorporation of multi-omics analysis, the application of AI and machine learning in genomics interpretation, and the use of cloud-based genomics platforms.

What Factors Are Propelling the Expansion of the Genomics Services Market?
The genomics services market growth is projected to escalate owing to the rising demand for gene therapy. Designed to address the crucial genetic problems in disease prevention or treatment, gene therapy provides specific solutions for genetic disorders and chronic ailments by tackling their genetic roots. Genomic services play an important role in gene therapy as they help identify the right tissue, measure and categorize viral vectors, and comprehend the shedding risk. For instance, the American Society of Gene & Cell Therapy (ASGCT), a non-profit medical organization based in the US, reported in January 2023 that the gene therapy pipeline had increased by 6%, approving five gene therapies in 2022. Moreover, in 2022, the pipeline for gene, cell, and RNA therapies expanded by 7% from preclinical to pre-registration, leading to the development of 3,726 therapies. Consequently, the genomics services market is experiencing growth due to the burgeoning demand for gene therapy.

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Which Leading Companies Are Shaping the Growth of 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

What Are the Major Trends Shaping the Genomics Services Market?
Leading organizations in the genomics services industry are endeavoring to broaden their range of products by incorporating added services like advanced long-read sequencing services. This is in response to the growing requirement for extensive genomic analysis and customized medical care. Advanced long-read sequencing services use avant-garde technologies to scrutinize genetic matter with elongated sequence reads, providing a more comprehensive and precise breakdown of DNA and RNA. For example, in April 2024, Clinical-Microbiomics A/S, a biotechnology establishment hailing from Denmark, launched advanced long-read sequencing services. These include 16S, ITS, 18S rRNA, isolate, and metagenomics sequencing services, specifically designed to satisfy strict academic, clinical and industrial research demands, offering unmatched resolution and quality in microbial scrutiny. The improved long-read sequencing capacity, that offers a variety of sequencing alternatives, aims to set a new standard for microbial analysis and microbiome research. These strides contribute significantly to the progress of microbiome research, granting researchers a more nuanced understanding of microbial communities and propelling novel findings in the field.

What Are the Key Segments of the Genomics Services Market?
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 Region Dominates 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.

What Is Covered In The Genomics Services Global Market Report?

- Market Size Analysis: Analyze the Genomics Services Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Genomics Services Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Genomics Services Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Genomics Services Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

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