The market is broadly segmented into type, application, specialty, end user and region. In terms of type segment, sequencing services segment is expected to account for the largest share during the forecast period. Sequencing services, data analysis, drug discovery services, differential gene expression analysis, database and management services, and other bioinformatics services make up the bioinformatics services industry. The sequencing services category has the largest market share due to lower sequencing costs. The bioinformatics services market is divided into genomes, cheminformatics and drug design, proteomics, transcriptomics, metabolomics, and other applications, depending on the application. Due to the increasing use of pharmacogenomic research for the development of precision medicine, favourable funding scenarios for genomic research, and partnerships and collaborations between various life sciences and informatics companies for the development of advanced bioinformatics services solutions and services, the genomics segment accounts for a significant portion of the market.