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Genomics Services Market - By Service (Next Generation Sequencing, Sanger Sequencing, Microarray), By Application (Research, Diagnostics), By End-user (Research Institutes, Diagnostic Centers, Contract Research Organization (CROs)), Forecast-2032


Published on: 2024-08-01 | No of Pages : 240 | Industry : Healthcare

Publisher : MIR | Format : PDF&Excel

Genomics Services Market - By Service (Next Generation Sequencing, Sanger Sequencing, Microarray), By Application (Research, Diagnostics), By End-user (Research Institutes, Diagnostic Centers, Contract Research Organization (CROs)), Forecast-2032

Genomics Services Market Size

Genomics Services Market size was valued at around USD 4.3 billion in 2022 and is estimated to register over 11.2% CAGR between 2023 and 2032. Growing genomic research along with rising popularity of non-invasive cancer screening-based research studies is noted to be as a contributing factor for market expansion.
 

Genomics Services Market

The development of next-generation sequencing technology is being greatly aided by startups focused on genetics and expanding biotech companies. Further, a positive picture for the industry is also being created by growing investments in biotechnology research and development (R&D) coupled with significant advancements in healthcare facilities and diagnostic technologies.
 

Genomics is the study of an organism’s complete set of DNAs including all its genes and non-coding regions. Genomics services refer to a range of scientific and technological services that involve the analysis and interpretation of an individual’s genomic information. They typically involve the analysis of DNA samples to extract genetic information and provide insights into various aspects of an individual’s genetic makeup. These services can be used for a variety of purposes such as genetic testing, pharmacogenomics, precision medicine, and genomic research. Moreover, genomic services contribute to the advancements in personalized medicine as well as in disease prevention.
 

COVID-19 Impact

The COVID-19 impact showed slight negative growth at the initial phase of pandemic. This was attributable to decreasing cancer research, personalized medicine, and other research activities. Also, temporary closure of various academic institutes and challenges in providing post-sales services owing to the pandemic resulted in disruption of the overall market. However, several technologies including polymerase chain reaction and next-generation sequencing noted with in high demand at the third and fourth quarter of 2020. Laboratories used polymerase chain reaction (PCR) and next-generation sequencing (NGS) to investigate viral genetic material. As a result, various companies developed next-generation sequencing tests for coronavirus identification and research study.
 

Genomics Services Market Trends

In recent years, the area of genomics has observed a major technological improvement, with prominent breakthroughs such as the revolutionary CRISPR technology, which allows for precise editing of DNA by adding, removing, or modifying specific regions of the genome. The technology uses an enzyme that breaks DNA at specific sites while being led by an extremely small RNA molecule. Also, nanotechnology represents a substantial improvement in genomics research, with potential applications in the development of genetically modified organisms (GMOs) and abolition of existing limitations. Therefore, nanotechnology allows integration management techniques in a variety of fields, including agriculture, lowering uncertainty and expanding possibilities in genomics research. Thus, technological advancement in the field of genomics enhance the demand for market.
 

Genomics Services Market Analysis

Genomics Services Market, By Service Type, 2021 - 2032 (USD Billion)

Based on service type, the genomics services market is segmented as next generation sequencing, sanger sequencing, microarray, genotyping, and other services. The next generation sequencing held a majority market value of USD 1.5 billion in 2022. The advent of next-generation sequencing (NGS) technology has revolutionised gene sequencing in terms of reproducibility and cost savings. As a result, significant breakthroughs in NGS technology have been made to promote its use in clinical labs and hospitals. Furthermore, the majority of recent advances in the field have been focused on making the technology more user-friendly and intelligent. These attributes have fuelled the adoption of NGS services among a wide range of end-users.
 

Global Genomics Services Market Share, By Application, 2022

Based on application, the genomics services market is segmented as research and diagnostics. The research segment dominated the market in 2022 due to increased government funding for the research of various diseases such as cancer and rare disorders, among others. Also, growing use of genome sequencing in broad application areas such as precision medicine is contributing to the expansion of the research segment.
 

Based on end-user the market is segmented as research institutes, diagnostic centers, pharmaceutical & biotechnological companies, contract research organization (CROs)s, and other end-users. The research institutes segment is expected to show highest revenue with growth rate of 11.5% during the analysis period. The segment dominance is owing to the factors such as researchers specialized in genomics, and fundings from government agencies, private foundations and industry collaborations drive the segment growth in the genomics services market. Furthermore, the collaborations with other academic institutions, hospitals, and biotechnology companies is expected to accelerate the research institutes segment in the forecast period.
 

North America Genomics Services Market Size, 2020 - 2032 (USD Billion)

North America genomics services market is expected to reach USD 4.6 billion by 2032. Increasing demand for biotechnological practices along with presence of several key players in the region is expected to supplement the market growth. Furthermore, the increasing prevalence of chronic diseases such as cancer, increased government investment in research, and rising awareness among consumers fuel regional market growth. Moreover, the availability of advanced healthcare infrastructure that contributes to expanding technological breakthroughs in this sector and increased demand for biotechnology practices in the region is expected to fuel regional growth.
 

Genomics Services Market Share

Some of the major industry players operating in the genomics services market are

  • Illumina, Inc.
  • QIAGEN
  • PerkinElmer Inc.
  • Eurofins Scientific
  • Macrogen, Inc.
  • GENEWIZ (Azenta, Inc.)
  • LGC Limited
  • Q2 Solutions
  • Bio Rad Laboratories, Inc.

These players focus on strategic partnerships, new product launch & commercialization for market expansion. Furthermore, these players are heavily investing in research that allows them to introduce innovative products.
 

Genomics Services Industry News

  • In December 2021, Beijing Genomics Institute (BGI) designed a genome sequencing platform in partnership with the Serbian government and the Institute for Molecular Genetics and Genetic Engineering (IMGGI) to develop innovative technologies. This strategy enabled to enhance their relations.
     
  • In January 2021, LGC Limited acquired Technopath Clinical Diagnostics, a firm that develops and manufactures QC solutions and software to evaluate the accuracy of clinical lab equipment. The acquisition expands the company's existing production capabilities in areas such as clinical genomics reference materials, viral antigens, and others.
     

The genomics services market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2018 to 2032, for the following segments

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By Service Type

  • Next generation sequencing
  • Sanger sequencing
  • Microarray
  • Genotyping
  • Other services

By Application

  • Research
  • Diagnostics

By End-user

  • Research institutes
  • Diagnostic centers
  • Pharmaceutical & biotechnological companies
  • Contract Research Organization (CROs)
  • Other end-users

The above information is provided for the following regions and countries

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • Japan
    • China
    • India
    • Australia
    • South Korea
    • Rest of Asia Pacific 
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America 
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • Rest of Middle East & Africa

 

Table of Content

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To get a detailed Table of content/ Table of Figures/ Methodology Please contact our sales person at ( chris@marketinsightsresearch.com )