Genomics Services Market Size Projected To Reach $35.41 Billion By 2034 With A Cagr Of 17.9%

The Genomics Services Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Projected Growth of the Genomics Services Market?
The genomics services market has grown rapidly in recent years. It will increase from $15.51 billion in 2024 to $18.34 billion in 2025, at a compound annual growth rate (CAGR) of 18.3%. This growth is driven by the advent of next-generation sequencing technologies, increasing focus on genomics in cancer research, advances in pharmacogenomics, expanding applications in agriculture, and the rise of direct-to-consumer genomics testing services.

The genomics services market is anticipated to see rapid growth, reaching $35.41 billion by 2029, at a CAGR of 17.9%. Growth drivers include the increasing adoption of precision medicine, growing research focus on complex diseases, expanding interest in microbiome research, a rise in the use of companion diagnostics, and the broader integration of genomics into routine healare practices. Key trends in this market include advancements in single-cell genomics, expansion of personalized genomics services, integration of multi-omics analysis, AI and machine learning applications in genomics interpretation, and the shift toward cloud-based genomics platforms.

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What Are the Different Genomics Services Market Segments?
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, Healare Facilities And Diagnostic Centers, Pharmaceutical And Biotechnological Companies, Contract Research Organizations (CROs), Others End Users

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What Are the Primary Drivers Shaping the Genomics Services Market?
The rising demand for gene therapy is projected to drive the genomics services market. Gene therapy, which targets genetic causes of disease, relies on genomics for accurate targeting, vector assessment, and safety monitoring. The American Society of Gene & Cell Therapy reported in January 2023 a 6% expansion in the gene therapy pipeline, with five approvals in 2022. Overall, 3,726 therapies were in development across gene, cell, and RNA treatments that year. Hence, gene therapy's growth is fueling the genomics services market.

Which Companies Are Leading 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

What Trends Are Driving Growth in The Genomics Services Market?
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.

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What Are the Top Revenue-Generating Geographies 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.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Genomics Services Market?
2. What is the CAGR expected in the Genomics Services Market?
3. What Are the Key Innovations Transforming the Genomics Services Industry?
4. Which Region Is Leading the Genomics Services Market?

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