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Gene Therapy Demand Drives Growth In Genomics Services Market Driver: A Major Catalyst in the Evolution of the Genomics Services Market in 2025
Gene Therapy Demand Drives Growth In Genomics Services Market Driver
The increasing demand for gene therapy is expected to accelerate the growth of the genomics services market. Gene therapy targets genetic causes of diseases, providing treatments for genetic disorders and chronic conditions. Genomic services play a key role in gene therapy by helping identify the right tissues and understanding risks. In January 2023, the American Society of Gene & Cell Therapy reported that the gene therapy pipeline expanded by 6%, with five new gene therapies approved in 2022. This growing demand for gene therapy is driving the genomics services market.
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What Is the projected market size and growth rate for the genomics services market?
The genomics services market has experienced rapid growth. It will increase from $15.51 billion in 2024 to $18.34 billion in 2025, reflecting a CAGR of 18.3%. This growth is attributed to the advent of next-generation sequencing technologies, a greater focus on genomics in cancer research, advances in pharmacogenomics, increasing applications of genomics in agriculture, and the rise of direct-to-consumer genetic testing services.
The genomics services market is projected to reach $35.41 billion by 2029, growing at a CAGR of 17.9%. Growth is attributed to precision medicine adoption, research on complex diseases, microbiome research, companion diagnostics, and genomics integration in healthcare. Key trends include single-cell genomics, personalized services, multi-omics analysis, AI in genomics interpretation, and cloud-based platforms.
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What new trends are reshaping the genomics services market and its opportunities?
Companies in the genomics services market are expanding their offerings by incorporating advanced services such as long-read sequencing to meet rising demand for comprehensive genomic analysis and personalized medicine. Long-read sequencing technologies allow for more detailed DNA and RNA characterization by reading longer sequences. For instance, in April 2024, Clinical-Microbiomics A/S, a Denmark-based biotech firm, introduced advanced long-read sequencing services covering 16S, ITS, 18S rRNA, isolate, and metagenomics sequencing, designed for academic, clinical, and industrial research, offering high-resolution insights into microbial communities.
What major market segments define the scope and growth 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 geographical regions are pioneering 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.
Which key market leaders are driving the genomics services industry 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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What Is Covered In The Genomics Services Global Market Report?
•Market Size Forecast: Examine the genomics services market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the genomics services market for a structured understanding.
•Key Players Overview: Analyze major players in the genomics services market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the genomics services market.
•Segment Contributions: Evaluate how different segments drive overall growth in the genomics services market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the genomics services market.
•Industry Challenges: Identify potential risks and obstacles affecting the genomics services market.
•Competitive Landscape: Review strategic developments in the genomics services market, including expansions, agreements, and new product launches.
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