The Genomics Services Market size was valued at USD 16.94 billion in 2023 and is estimated to reach USD 44.91 billion in 2031, and grow at a compound annual growth rate approx. CAGR of 12.94% over the forecast period of 2024-2031.
Recent years have witnessed substantial progress in the science of genomics, which has caused a boom in the demand for genomics services. Genotyping, gene expression analysis, DNA sequencing, and other services are all included in the category of "genomics services." These services are essential for comprehending the genetic make-up of an organism, examining gene function, and deciphering the complexity of genetic illnesses. Numerous important reasons have contributed to the market for genomics services expanding dramatically. Genomic analysis has become more widely available and more reasonably priced as a result of DNA sequencing Deliverables cost reductions, particularly with regard to next-generation sequencing (NGS). New avenues for study, diagnosis, and personalised medication have now become available. Numerous industries, including healthcare, pharmaceuticals, agriculture, and academic research, use genomics services. Genomic services are widely employed in healthcare to diagnose diseases, discover hereditary tendencies, and direct treatment choices. Genomic services are helpful in the pharmaceutical industry for target identification and validation, drug discovery, and clinical trials. Genomic services are used in agriculture for trait identification, breeding plans, and crop enhancement. Whole-genome sequencing and extensive genotyping are replacing single-gene analysis in the market. This change enables a thorough comprehension of a person's genetic profile and the detection of uncommon genetic variants that influence illness. Large genomic datasets may now be interpreted and valuable insights can be extracted thanks to developments in bioinformatics and data analysis methods.
According to the study of many reports, Research and therapeutic uses of genomes Deliverables had been complicated by the COVID-19 pandemic epidemic. But during the COVID-19 pandemic, a few specialized apps were extremely helpful to humanity in facilitating quick attention for developing efficient diagnostics, efficient therapies, and efforts to stop COVID-19 from spreading. For instance, the validity of the PCR cycle was calculated to grasp the efficiency of the repurposed anti-viral therapies, and as a result, the process of developing vaccines was expedited. The viral genome mutational rate (1-2 bases per month) was gauged.
In order to understand the dynamics of the pandemic scenario and to develop effective preventive measures, many genetic surveillances programmed were initiated nationwide. For instance, the Department of Bio Technology (DBT), Ministry of Health, and ICMR collaborated to start the Indian SARS-CoV-2 Genomics Consortium (INSACOG) in December 2020 with the goal of using sequencing technologies to explore the genetic changes in the SARS-CoV-2 virus.
DRIVERS
Technological Progress Demand for Personalised Medicine Is Growing.
Rising Genetic Disease Prevalence Bioinformatics developments.
The industry is expanding as a result of ongoing improvements in genomics technologies like high-throughput genotyping and next-generation sequencing (NGS), which have increased capabilities and decreased prices for genomics services. The need for genomics services for genetic testing, illness diagnosis, and treatment decision-making has increased as a result of the rising emphasis on personalized medicine, in which treatment strategies are customized to a person's genetic profile. In order to identify the genetic variations linked to illnesses, genomics services are in high demand due to the rising prevalence of genetic disorders and the requirement for precise and early diagnosis.
RESTRAIN
Legal and Ethical Issues.
High Costs.
Regarding patient confidentiality, data security, and possible genetic data misuse, the processing and use of genetic information raises ethical and legal questions. These worries could limit the market for genomics services. Although the prices of genome sequencing have considerably lowered, they might still be rather costly for some applications especially in environments with limited resources. Cost issues may prevent genomics services from being widely used, especially in underdeveloped nations.
OPPORTUNITY
Expansion of Agricultural Genomics and the Integration of Genomics into Clinical Practice.
Healthcare might be transformed by incorporating genetics into standard clinical practice. Improved illness diagnosis, treatment selection, and patient outcomes are made possible by the growing use of genomics services in clinical settings, which also promises enormous growth prospects for service providers. For service providers, the application of genomics in agriculture for disease resistance, animal breeding, and crop enhancement presents enormous prospects. Agricultural practices supported by genomics can boost output, sustainability, and food security.
CHALLENGES
Analysis and Management of Data Challenges in Regulatory and Reimbursement Standards and Quality Control.
The creation of enormous volumes of genetic data poses difficulties for data management, storage, and analysis. It is essential to create bioinformatics platforms and tools that are effective and scalable for processing and interpreting data. It might be difficult to guarantee uniform methodologies, high standards for quality control, and repeatability among genomics providers. For accuracy and dependability to be maintained, it is crucial to establish strong quality standards and best practices. It might be difficult to navigate regulatory systems and be paid for genomics services. To encourage the general use of genomics services, it is necessary to develop clear rules, regulations, and payment schemes.
We constantly study the news in light of the ongoing political and economic unpredictability caused by the Russia-Ukraine Conflict. Around the world, negative effects are anticipated, particularly in Eastern Europe, the European Union, Eastern & Central Asia, and the United States. This claim has significantly disrupted trade dynamics and had a negative impact on people's lives and means of subsistence. It is anticipated that the continued conflict and unpredictability in Eastern Europe would negatively affect Ukraine and have severe, long-lasting impacts on Russia. In light of the most recent information on the dispute and the international responses, the paper explores the consequences for demand-supply balances, pressure on pricing variations, influence on import/export and trade, and short-term advice to the global genomics market.
IMPACT OF ONGOING RECESSION
Over the past two years, prices have increased significantly as a result of the high inflation rates in industrialised nations throughout the world. It is anticipated that the aggregate buying power would considerably affect emerging economies and is thought to be beneficial in many ways. The revenue earned by market participants fell significantly in 2020; Illuminate Inc., for example, had a loss of 17.9% in 2020 sales. The business's revenue increased by 10.7% in 202.The paper reveals how high inflation affects the long-term health of the global economy and offers information on the fiscal measures that may be taken to lessen its short-term effects on demand/supply, cash flow, and currency exchange. Given the associated effects of cost-push and demand-pull inflation, the Global Genomics Market research projects a high rate of inflation.
By Application & Deliverables
Functional Genomics
Epigenomics
Pathway Analysis
Biomarker Discovery
Others
By Deliverables
Products
Instruments/Systems/Software
Consumables & Reagents
Services
NGS-based Services
Core Genomics Services
Biomarker Translation Services
Computational Services
Others
By End users
Clinical Research
Academic & Government Institutes
Hospitals & Clinic
Pharmaceutical & Bio Technology Companies
Other End Users
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North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
South Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of the Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin American
The key players are F. Hoffmann-La Roche Ltd, Agilent Technologies, Thermo Fisher Scientific, Inc, Bio-Rad Laboratories, Inc, 23andMe, Inc., Illumina, Inc, Myriad Genetics, Inc., Foundation Medicine, Inc., Danaher, Pacific Biosciences, Oxford Nanopore Technologies, BGI and others.
North America:
In 2022, North America held the highest market share (42.57%). This is credited to the assistance of major pharmaceutical companies and research organisations. Due to the effects of genetic expression on human health, genomics is now a crucial component of all illness research and therapeutic development. With cooperative efforts, there are new developments in the area for the use of genomics. As an illustration, in January 2022, Illumina, Inc. partnered with Nashville Biosciences, LLC (a division of Vanderbilt University Medical Centre in Tennessee) to develop drugs utilising genomics and to create a premier clinic-genomic resource.
Asian Pacific:
Due to rising need for innovative therapeutic medications to combat the region's rising illness prevalence, as well as increased demand for genomics applications in diagnostics, Asia Pacific is anticipated to have the fastest expanding sector over the course of the projection period. One of the most recent efforts, Genome Asia 100K, is one of several significant human genome sequencing initiatives. 100,000 Asian genomes would be sequenced and analysed as part of this research, which might hasten population-specific medical advancements and precision medicine. With this study, GA 100K hoped to better understand disease biology and find new potential therapeutic medications.
Illumina Inc:
In July 2021, Illumina launched, the promise for whole-genome sequencing of ancient illnesses is recognised by the Trusight software suite, which provides readymade infrastructure.
| Report Attributes | Details |
| Market Size in 2023 | US$ 16.94 Bn |
| Market Size by 2031 | US$ 44.91 Bn |
| CAGR | CAGR of 12.94% From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Application & Deliverables (Functional Genomics, Epigenomics, Pathway Analysis, Biomarker Discovery, Others) • By Deliverables (Product, Services) • By End users (Clinical Research, Academic & Government Institutes, Hospitals & Clinic, Pharmaceutical & Bio Technology Companies, Other End Users) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | F. Hoffmann-La Roche Ltd, Agilent Technologies, Thermo Fisher Scientific, Inc, Bio-Rad Laboratories, Inc, 23andMe, Inc., Illumina, Inc, Myriad Genetics, Inc., Foundation Medicine, Inc., Danaher, Pacific Biosciences, Oxford Nanopore Technologies, BGI and others. |
| Key Drivers | • Technological Progress Demand for Personalized Medicine Is Growing. • Rising Genetic Disease Prevalence Bioinformatics developments. |
| Market Opportunities | • Expansion of Agricultural Genomics and the Integration of Genomics into Clinical Practice. |
Ans: The CAGR growth rate of Genomics Services Market are 12.8% Over the forecast period 2023 to 2030.
Ans: The projected market size of Genomics Services Market Approx USD 46.4 billion in 2023-2030.
Ans: The Key Players are F. Hoffmann-La Roche Ltd, Agilent Technologies, Thermo Fisher Scientific, Inc, Bio-Rad Laboratories, Inc, 23andMe, Inc., Illumina, Inc, Myriad Genetics, Inc., Foundation Medicine, Inc., Danaher, Pacific Biosciences, Oxford Nanopore Technologies, BGI and others.
Ans: Technology improvements in molecular diagnostics and genetic tools are a major factor accelerating the market investment of genomic firms.
Ans: Due to the growing number of genetic research studies targeted at creating effective medications with fewer side effects and enhancing the drug discovery process, the pharmaceutical and biotechnology businesses category accounted for the majority revenue share.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID 19 Impact Analysis
4.2 Impact of the Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Genomics Services Market, By Application & Technology
8.1 Functional Genomics
8.2 Epigenomics
8.3 Pathway Analysis
8.4 Biomarker Discovery
8.5 Others
9. Genomics Services Market, By Deliverables
9.1 Products
9.2 Services
10. Genomics Services Market, By End-User
10.1 Clinical Research
10.2 Academic & Government Institutes
10.3 Hospitals & Clinic
10.4 Pharmaceutical & Bio Technology Companies
10.5 Other End Users
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 North America Genomics Services Market by country
11.2.2North America Genomics Services Market by Application & Technology
11.2.3 North America Genomics Services Market by Deliverables
11.2.4 North America Genomics Services Market by End-Users
11.2.5 USA
11.2.5.1 USA Genomics Services Market by Application & Technology
11.2.5.2 USA Genomics Services Market by Deliverables
11.2.5.3 USA Genomics Services Market by End-Users
11.2.6 Canada
11.2.6.1 Canada Genomics Services Market by Application & Technology
11.2.6.2 Canada Genomics Services Market by Deliverables
11.2.6.3 Canada Genomics Services Market by End-Users
11.2.7 Mexico
11.2.7.1 Mexico Genomics Services Market by Application & Technology
11.2.7.2 Mexico Genomics Services Market by Deliverables
11.2.7.3 Mexico Genomics Services Market by End-Users
11.8 Europe
11.8.1 Europe Genomics Services Market by country
11.8.2 Europe Genomics Services Market by Application & Technology
11.8.3 Europe Genomics Services Market by Deliverables
11.8.4 Europe Genomics Services Market by End-Users
11.8.6 Germany
11.8.6.1 Germany Genomics Services Market by Application & Technology
11.8.6.2 Germany Genomics Services Market by Deliverables
11.8.6.3 Germany Genomics Services Market by End-Users
11.8.7 UK
11.8.7.1 UK Genomics Services Market by Application & Technology
11.8.7.2 UK Genomics Services Market by Deliverables
11.8.7.3 UK Genomics Services Market by End-Users
11.8.8 France
11.8.8.1 France Genomics Services Market by Application & Technology
11.8.8.2 France Genomics Services Market by Deliverables
11.8.8.3 France Genomics Services Market by End-Users
11.9.9 Italy
11.3.9.1 Italy Genomics Services Market by Application & Technology
11.3.9.2 Italy Genomics Services Market by Deliverables
11.3.9.3 Italy Genomics Services Market by End-Users
11.3.10 Spain
11.3.10.1 Spain Genomics Services Market by Application & Technology
11.3.10.2 Spain Genomics Services Market by Deliverables
11.3.10.3 Spain Genomics Services Market by End-Users
11.3.11 The Netherlands
11.3.11.1 Netherlands Genomics Services Market by Application & Technology
11.3.11.2 Netherlands Genomics Services Market by Deliverables
11.3.11.3 Netherlands Genomics Services Market by End-Users
11.3.11 Rest of Europe
11.3.11.1 Rest of Europe Genomics Services Market by Application & Technology
11.3.11.2 Rest of Europe Genomics Services Market by Deliverables
11.3.11.3 Rest of Europe Genomics Services Market by End-Users
11.4 Asia-Pacific
11.4.1 Asia Pacific Genomics Services Market by country
11.4.2 Asia Pacific Genomics Services Market by Application & Technology
11.4.3 Asia Pacific Genomics Services Market by Deliverables
11.4.4Asia Pacific Genomics Services Market by End-Users
11.4.6 Japan
11.4.6.1 Japan Genomics Services Market by Application & Technology
11.4.6.2 Japan Genomics Services Market by Deliverables
11.4.6.3 Japan Genomics Services Market by End-Users
11.4.7 South Korea
11.4.7.1 South Korea Genomics Services Market by Application & Technology
11.4.7.2 South Korea Genomics Services Market by Deliverables
11.4.7.3 South Korea Genomics Services Market by End-Users
11.4.8 China
11.4.8.1 China Genomics Services Market by Application & Technology
11.4.8.2 China Genomics Services Market by Deliverables
11.4.8.3 China Genomics Services Market by End-Users
11.4.9 India
11.4.9.1 India Genomics Services Market by Application & Technology
11.4.9.2 India Genomics Services Market by Deliverables
11.4.9.3 India Genomics Services Market by End-Users
11.4.10 Australia
11.4.10.1 Australia Genomics Services Market by Application & Technology
11.4.10.2 Australia Genomics Services Market by Deliverables
11.4.10.3 Australia Genomics Services Market by End-Users
11.4.11 Rest of Asia-Pacific
11.4.11.1 APAC Genomics Services Market by Application & Technology
11.4.11.2 APAC Genomics Services Market by Deliverables
11.4.11.3 APAC Genomics Services Market by End-Users
11.5 The Middle East & Africa
11.5.1 The Middle East & Africa Genomics Services Market by country
11.5.2 The Middle East & Africa Genomics Services Market by Application & Technology
11.5.3 The Middle East & Africa Genomics Services Market by Deliverables
11.5.4The Middle East & Africa Genomics Services Market by End-Users
11.5.6 Israel
11.5.6.1 Israel Genomics Services Market by Application & Technology
11.5.6.2 Israel Genomics Services Market by End-Users
11.5.6.3 Israel Genomics Services Market by Deliverables
11.5.7 UAE11.5.7.1 UAE Genomics Services Market by Application & Technology
11.5.7.2 UAE Genomics Services Market by Deliverables
11.5.7.3 UAE Genomics Services Market by End-Users
11.5.8 South Africa
11.5.8.1 South Africa Genomics Services Market by Application & Technology
11.5.8.2 South Africa Genomics Services Market by Deliverables
11.5.8.3 South Africa Genomics Services Market by End-Users
11.5.9 Rest of Middle East & Africa
11.5.9.1 Rest of Middle East & Asia Genomics Services Market by Application & Technology
11.5.9.2 Rest of Middle East & Asia Genomics Services Market by Deliverables
11.5.9.3 Rest of Middle East & Asia Global Healthcare of Sleep Disorder Treatment Market. End-Users
11.6 Latin America
11.6.1 Latin America Genomics Services Market by country
11.6.2 Latin America Genomics Services Market by Application & Technology
11.6.3 Latin America Genomics Services Market by Deliverables
11.6.4 Latin America Genomics Services Market by End-Users
11.6.6 Brazil11.6.6.1 Brazil Genomics Services Market by Application & Technology
11.6.6.2 Brazil Africa Genomics Services Market by Deliverables
11.6.6.3Brazil Genomics Services Market by End-Users
11.6.7 Argentina
11.6.7.1 Argentina Genomics Services Market by Application & Technology
11.6.7.2 Argentina Genomics Services Market by Deliverables
11.6.7.3 Argentina Genomics Services Market by End-Users
11.6.8 Rest of Latin America
11.6.8.1 Rest of Latin America Genomics Services Market by Application & Technology
11.6.8.2 Rest of Latin America Genomics Services Market by Deliverables
11.6.8.3 Rest of Latin America Genomics Services Market by End-Users
12. Company profile
12.1 F. Hoffmann-La Roche Ltd
12.1.1 Market Overview
12.1.2 Financials
12.1.3 Treatment/Services/Offerings
12.1.4 SWOT Analysis
12.1.5 The SNS View
12.2 Agilent Technologies
12.2.1 Market Overview
12.2.2 Financials
12.2.3 Treatment/Services/Offerings
12.2.4 SWOT Analysis
12.2.5 The SNS View
12.3 Thermo Fisher Scientific, Inc,
12.3.1 Market Overview
12.3.2 Financials
12.3.3 Treatment/Services/Offerings
12.3.4 SWOT Analysis
12.3.5 The SNS View
12.4 Bio-Rad Laboratories, Inc,
12.4.1 Market Overview
12.4.2 Financials
12.4.3 Treatment/Services/Offerings
12.4.4 SWOT Analysis
12.4.5 The SNS View
12.5 23andMe, Inc.,
12.5.1 Market Overview
12.5.2 Financials
12.5.3 Treatment/Services/Offerings
12.5.4 SWOT Analysis
12.5.5 The SNS View
12.6 Illumina, Inc,
12.6.1 Market Overview
12.6.2 Financials
12.6.3 Treatment/Services/Offerings
12.6.4 SWOT Analysis
12.6.5 The SNS View
12.7 Myriad Genetics, Inc.
12.7.1 Market Overview
12.7.2 Financials
12.7.3 Treatment/Services/Offerings
12.7.4 SWOT Analysis
12.7.5 The SNS View
12.8 Foundation Medicine, Inc.
12.8.2 Financials
12.8.3 Treatment/Services/Offerings
12.8.4 SWOT Analysis
12.8.5 The SNS View
12.9 Danaher.
12.9.1 Market Overview
12.9.2 Financials
12.9.3 Treatment/Services/Offerings
12.9.4 SWOT Analysis
12.9.5 The SNS View
12.10 Pacific Biosciences
12.10.1 Market Overview
12.10.2 Financials
12.10.3 Treatment/Services/Offerings
12.10.4 SWOT Analysis
12.10.5 The SNS View
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share analysis
13.3 Recent Developments
14 Use Case and Best Practices
15. Conclusion
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
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The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
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This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
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