Global Genomics Services Market Size study & Forecast, by Services Type (Gene Expression Services (RNASeq), Epigenomics Services, Genotyping, Next-generation Sequencing, Sanger's Sequencing, Others) by Technology (Polymerase Chain Reaction (PCR), Next-gen

Global Genomics Services Market Size study & Forecast, by Services Type (Gene Expression Services (RNASeq), Epigenomics Services, Genotyping, Next-generation Sequencing, Sanger's Sequencing, Others) by Technology (Polymerase Chain Reaction (PCR), Next-generation Sequencing (NGS), Microarray, Sanger Sequencing, Others), by Application (Diagnostics, Research, Others), by End-User (Research Institutes, Healthcare Facilities & Diagnostic Centers, Pharmaceutical & Biotechnological Companies, Contract Research Organization (CROs)), and Regional Analysis, 2022-2029

Global Genomics Services Market is valued at approximately USD 6.64 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 11.0% over the forecast period 2022-2029. Genomics is the scientific field that aids in comprehending the composition, operation, and evolution of genes. Genome sequencing, identifying gene sets, examining proteins encoded by organisms, examining their relationships, and comprehending metabolic pathways are all included in genomics. The increasing government initiatives and funding, rising investment on the development of healthcare facilities, and growth of pharmaceutical & biotechnology companies for research & diagnosis are the primary factors that are propelling the market demand across the globe.

The rising prevalence of numerous chronic diseases including cancer and genetic abnormalities is witnessing the surging demand for different treatment alternatives. A genome analysis test is integrated for the early diagnosis of several ailments, including cancer and unusual genetic diseases. The effective management and treatment of the condition are attained by genome analysis, which aids doctors in determining the genetic changes and causes of the disease. The WHO estimates that in 2020, cancer accounted for approximately 10 million deaths, making it the leading cause of mortality. Also, it is estimated to reach 19.3 million new cancer cases globally by 2025. Accordingly, whole genome sequencing plays a critical role in cancer detection as it provides information about specific mutations found in cancer tissues. Additionally, it contributes to the discovery of novel cancer-related variations, including insertions, deletions, and changes in mutation rates, which, in turn, augments the market growth. Furthermore, the increasing technological advancements in the field of genomics, as well as new products and innovative services to favor the adoption of genomic sequencing are creating lucrative opportunities for the market over the forecasting years. However, the high cost required to establish a genomics laboratory and the dearth of skilled professionals are hampering the market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Genomics Services Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America dominated the market in terms of revenue, owing to the rising introduction of new genome research facilities, along with the rising adoption of various technologies for the research & diagnosis. Whereas, the Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as changing regulatory policies for the adoption of precision medicines, as well as the increasing prevalence of cancer and other diseases among the population in the regional market.

Major market players included in this report are:
GrandOmics
Illumina, Inc.
QIAGEN
PerkinElmer Inc.
Eurofins Scientific
Macrogen, Inc.
GENEWIZ
LGC Limited
Q2 Solutions
Bio Rad Laboratories, Inc.

Recent Developments in the Market:
 In December 2021, BGI launched a genome sequencing platform in Belgrade in December 2021 in collaboration with the Serbian government and the Institute for Molecular Genetics and Genetic Engineering (IMGGI) in order to strengthen Serbia's reputation as a nation that invests in science and cutting-edge technology.
 In January 2021, LGC Limited announced the acquisition of Technopath Clinical Diagnostics- a company for the development and production of quality control (QC) systems and software to evaluate the accuracy of clinical lab equipment. The company's existing manufacturing capabilities for clinical genomics reference materials, viral antigens, and other products are enhanced by the acquisition.

Global Genomics Services Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Services Type, Technology, Application, End-User, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Services Type:
Gene Expression Services (RNASeq)
Epigenomics Services
Genotyping
Next-generation Sequencing
Sanger's Sequencing
Others
By Technology:
Polymerase Chain Reaction (PCR)
Next-generation Sequencing (NGS)
Microarray
Sanger Sequencing
Others
By Application:
Diagnostics
Research
Others
By End-User:
Research Institutes
Healthcare Facilities & Diagnostic Centers
Pharmaceutical & Biotechnological Companies
Contract Research Organization (CROs) l
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World



Companies Mentioned

GrandOmics
Illumina, Inc.
QIAGEN
PerkinElmer Inc.
Eurofins Scientific
Macrogen, Inc.
GENEWIZ
LGC Limited
Q2 Solutions
Bio Rad Laboratories, Inc.

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