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 Date: August - 2024 | Publisher: MIR | No of Pages: 240 | Industry: Healthcare | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationGenomics 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.
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.
| Report Attribute | Details |
|---|---|
| Base Year | 2022 |
| Genomics Services Market Size in 2022 | USD 4.3 Billion |
| Forecast Period | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR | 11.2% |
| 2032 Value Projection | USD 12.3 Billion |
| Historical Data for | 2018 to 2022 |
| No. of Pages | 120 |
| Tables, Charts & Figures | 214 |
| Segments covered | Service Type, Application, End-user, and Region |
| Growth Drivers |
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| Pitfalls & Challenges |
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Imagine your body's blueprint, your DNA. That's what genomics studies – the whole thing, including the important bits (genes) and the rest. Genomics services are like a team of scientists who analyze your DNA, like detectives searching for clues. They use this information to help you understand your unique genetic traits. Think of it like a personalized instruction manual for your body. These services are like a treasure trove of information, helping with things like understanding your family history, finding out which medications work best for you, and preventing diseases. They're also paving the way for personalized treatments tailored specifically to you. It's like unlocking the secret powers of your DNA!
COVID-19 Impact
When the COVID-19 pandemic first hit, the biotech industry took a small hit. Cancer research, personalized medicine, and other research areas slowed down. Plus, many schools and universities closed, and it became harder to provide after-sales support. This hurt the industry as a whole. But after that initial dip, the demand for certain technologies skyrocketed in late 2020. Labs needed polymerase chain reaction (PCR) and next-generation sequencing (NGS) to study the virus's genetic makeup. So, lots of companies stepped up to develop NGS tests to identify and study the coronavirus.
Genomics Services Market Trends
In recent years, the science of genomics has taken giant leaps forward. We now have amazing new tools like CRISPR, which lets us change DNA with precision. It's like microscopic scissors that can cut DNA at specific spots, guided by tiny RNA molecules. Another game-changer is nanotechnology. It's opening up new possibilities in genomics, especially in creating genetically modified organisms (GMOs). With nanotechnology, we can overcome limitations and improve techniques across fields like agriculture. These breakthroughs are creating a huge demand for genomics research. Companies and scientists are eager to use these new tools to advance our understanding of biology and develop new technologies to improve our lives.
Genomics Services Market Analysis
When it comes to figuring out what people's genes say about them, there are a few different ways to go about it. Some of the main methods includeUsing fancy machines called sequencers to read DNA really fast and accurately (like next-generation sequencing and Sanger sequencing) Looking at tiny dots on a slide to see how specific genes are turned on or off (microarray) Finding out which versions of genes a person has (genotyping) Other methods that help us understand genes Right now, next-generation sequencing (NGS) is the most popular method because it's really fast and affordable. Thanks to NGS, gene sequencing is becoming easier to use even in doctor's offices and hospitals. Scientists have been working hard to make NGS even better, making it smarter and more user-friendly. This has made NGS the go-to method for many researchers and healthcare professionals.
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 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
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