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 - 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

Global Genomics Services Market size will expand exponentially through 2032. Rising investments in pharmacogenomics have increased the demand for genomics services. By integrating pharmacogenomic information into drug development and prescribing practices, genomics services help improve drug efficacy and safety. Identifying genetic markers that influence drug response enables better selection of appropriate medications, dosages, and treatment regimens for individual patients. This optimization can enhance therapeutic outcomes, minimize adverse drug reactions, and reduce trial-and-error prescribing, leading to high adoption rate of genomics services.

The overall genomics services market is categorized based on service, application, end-user, and region.

Based on the service, industry value from the Sanger sequencing segment will observe significant gains through 2032. The high accuracy of Sanger sequencing favors its adoption. Additionally, for smaller-scale projects, low sample volumes, or targeted sequencing of specific regions, Sanger sequencing can be a more affordable option compared to high-throughput NGS platforms. This sequencing is particularly useful for targeted sequencing of specific regions or confirming variants identified by other methods.

Based on application, industry share from the diagnostics segment will grow at a lucrative CAGR from 2023 to 2032. Growing awareness about precision medicine has increased the demand for genomics services in diagnostics. By analyzing a patient's genetic makeup, including germline and somatic mutations, genomic services can help identify personalized treatment options. This includes identifying targeted therapies, predicting drug responses, and optimizing treatment regimens based on the patient's genomic profile. Precision medicine aims to improve treatment outcomes by tailoring therapies to an individual's specific genetic characteristics.

Based on end-user, industry size from the pharmaceutical & biotechnological companies segment will expand significantly through 2032. Growing investment in drug development by pharmaceutical and biotechnological companies has increased the demand for genomics services. These services help identify and validate potential therapeutic targets for drug discovery. By analyzing genomic data from patients, disease models, or large-scale genomic databases, researchers can identify genetic variants, mutations, or gene expression patterns associated with diseases.

Regionally, the Asia Pacific genomics services market value will show an appreciable growth over 2023-2032. Flourishing healthcare industry, coupled with the growing prevalence of chronic diseases attributed to the surging elderly population, has increased investments in genomics services in the region. As per WHO, in China, the population of people above 60 years will account for 28% of the population by 2040. Moreover, growing awareness about genomics is further contributing to regional growth.