Genomics Services Market - Changing Demographics to Boost Infrastructure Spending

Rushikesh22 May, 2024Health

The Genomics Services Market has experienced remarkable growth, with a valuation of USD 32.5 billion in 2023. Forecasts predict a substantial surge, projecting the market to reach USD 111.03 billion by 2031, driven by an impressive compound annual growth rate (CAGR) of approximately 16.6% over the forecast period spanning from 2024 to 2031. This remarkable trajectory underscores the increasing adoption of genomics services across various sectors, including healthcare, agriculture, and biotechnology, fueled by advancements in sequencing technologies, decreasing sequencing costs, and expanding applications in personalized medicine, genetic testing, and precision agriculture. As genomics continues to revolutionize research, diagnostics, and therapeutics, the market is poised for sustained expansion, offering significant opportunities for innovation, collaboration, and societal impact.