USD 10.5 billion
DNA Sequencing Market Size, Share, Growth Analysis, By Product(Consumable, Instrument, Service), By Application(Biomarkers, Cancer, Diagnostics, Reproductive Health), By Technology(Synthesis, Ion Semiconductor Sequencing, Sequencing by Ligation, Pyrosequencing), By End User(Academic & Government Research Institutes, Pharmaceutical Companies, Biotechnology Companies, Hospitals & Clinics.), By Region - Industry Forecast 2024-2031
Report ID:
SQSG35H2013 |
Region:
Global |
Published Date: February, 2024
Pages:
165
|Tables:
126
|Figures:
77
DNA Sequencing Market Insights
Global DNA Sequencing Market size was valued at USD 10.5 billion in 2022 and is poised to grow from USD 12.29 billion in 2023 to USD 44 billion by 2031, growing at a CAGR of 17.12% in the forecast period (2024-2031).
The adoption of DNA sequencing for clinical diagnostic purposes is expected to be largely driven by recent technological advancements in Next-Generation and Whole-Genome Sequencing technologies. Advancements in sequencing technology have led the genomics area through a revolution, and sequencing technology has significantly impacted the healthcare industry. An important technological advancement has been brought about by the exponentially increasing sequencing throughput. The sequencing speed has improved dramatically due to the advent of technologies such as NGS by Illumina, as it has made it possible to decipher genetic information at a much faster rate. These systems work on the principle of parallel processing, whereby many DNA segments may be analyzed at the same time. This speed boost triggers a wide spectrum of effects and allows scientists and medical professionals to process huge amounts of genetic data in ways that were practically impossible before.
For instance, Illumina Inc., launched their cloud-based program called Connected Insights in March 2023; it is designed to simplify the tertiary processing of clinical NGS data. In the next few years, these activities are going to advance the growth of the market. However, the interest in personalized medicine and genomic research tends to enhance market growth. DNA sequencing has increasingly become an essential tool for researchers and medical practitioners to obtain crucial information of profound implications on diagnostic and therapeutic approach and prevention of disease as technological breakthroughs continue to unravel the mysteries of the human genome.
US DNA Sequencing Market is poised to grow at a sustainable CAGR for the next forcast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Instrument
Fastest Growth
Instrument
Growth Rate
17.12% CAGR
Global DNA Sequencing Market 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
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DNA Sequencing Market Segmental Analysis
Global DNA Sequencing Market is segmented based on Product, Application, Technology, End User, and Region. Based on Product the DNA Sequencing Market is further sub segmented into Consumable, Instrument, and Service. Based on Application the DNA Sequencing Market is further sub-segmented into Biomarkers and Cancer, Diagnostics, Reproductive Health, Personalized Medicine, Forensics, and Others. Based on Technology the DNA Sequencing Market is further sub segmented into Sequencing by Synthesis, Ion Semiconductor Sequencing, Sequencing by Ligation, Pyrosequencing, Single Molecule Real-time Sequencing, Chain Termination Sequencing, and Nanopore Sequencing. Based on End User the DNA Sequencing Market is further sub segmented into Academic & Government Research Institutes, Pharmaceutical Companies, Biotechnology Companies, and Hospitals & Clinics. Based on Region, the DNA Sequencing Market is further sub-segments into North America, Europe, Asia Pacific, Latin America, and MEA .
DNA Sequencing Market Analysis by Product
In 2023, the consumables segment led the DNA sequencing market, with it showing the highest share by revenue, accounting for 49.12%. This is due to kits and reagents becoming increasingly accessible as they are targeted to the different features of library preparation, including adapter ligation, quality control, and DNA fragmentation. These products are designed to be more intuitive and efficient. These often arrive with preassembled parts and streamlined protocols that decrease the dependence on highly skilled technical staff. Besides this, they are compatible with formalin-fixed tissues and low-input samples that make them suitable for several scientific and therapeutic applications. Provided there is an increase in demand for precise and efficient sequencing solutions, the consumables market will be strong.
The services segment of the DNA sequencing market is expected to grow at the fastest pace in the projection period. This growing requirement is due to the increasing number of firms offering specialized sequencing services specific to diversified research and clinical applications. Major players in this market are GENEWIZ, Illumina, QIAGEN, GenScript, Applied Biological Materials Inc. along with Agilent Technologies, are extending their services to meet the evolving expectations of the researchers and healthcare institutes. The influx of new developments in sequencing technologies puts the entities in a position to bring the best expertise, support and scalable solutions that are expected to further fuel the growth in the services segment and help overcome complex market requirements.
DNA Sequencing Market Analysis by End User
The academic research segment accounted for the largest revenue share of 51.88% in 2023. This is attributed to the large adoption of NGS and Sanger technologies in institutional and academic research programs. Moreover, enhanced financing and investment plans increase the demand for DNA sequencing products and services in these organizations, which boosts their revenue share. In addition, various symposiums, exhibits, and seminars are inspiring scientists and researchers to make use of NGS technology. To increase the yield of diagnosis in newborn care, PacBio and GeneDx just recently partnered with research with the University of Washington in August 2023 for the assessment and knowledge of long-read whole genome sequencing. These are some of the factors that are expected to support market growth in the coming years.
The clinical research segment is expected to grow at the fastest rate during the projection period. NGS methods have become incredibly popular since they can test numerous genes at one time with enormous parallel sequence analysis. Although NGS technologies require less nucleic acids, they are the method of choice for clinical testing procedures due to their potential while evaluating several gene markers. This segment is predicted to grow amazingly due to the employment of DNA analysis in studies regarding tumor heterogeneity, identification of alterations related to carcinogenesis, and new genes related to cancers.
Global DNA Sequencing Market Share By Product, 2021 (%)
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DNA Sequencing Market Regional Insights
North America currently holds the highest market revenue share at 50.70%. Adoption of DNA sequencing technology is high in this region, with many major players, such as Thermo Fisher Scientific, Inc., Oxford Nanopore Technologies plc, Illumina, Inc., and Agilent Technologies Inc., present in this region. Along with this, the US companies are taking several strategic measures to continue growing their market share in the nation along with that of regional development. For instance, Complete Genomics, Inc., an American company was awarded "Oscars of Innovation" ultra-high throughput gene sequencer, DNBSEQ-T20×2* by R&D World Magazine in August 2023. Innovative product awards and recognitions of this type can be expected to spur new product innovations in the local market.
However, the European DNA sequencing market size is expected to develop at a notable CAGR over the projection period because of rising R&D expenditures and ongoing scientific research that has enhanced the demand for cutting-edge NGS technologies. The UK DNA sequencing market is expected to grow at the highest CAGR during the forecast period due to increased development of companion diagnostics and later molecular diagnostic development facilities by major market players. Further, continued strategic partnerships between players in the European and Eastern markets are expected to drive the expansion of the market in the region during the forecast period. Several government initiatives to promote NGS technologies adoption in the France have been promoting the industry.
Global DNA Sequencing Market By Geography, 2021 - 2028
- Largest
- Fastest
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DNA Sequencing Market Dynamics
DNA Sequencing Market Driver
Growing Focus on Personalized Therapy
- The main driver for the DNA sequencing industry is the growing attention to personalized therapies. With the thrust of modern healthcare toward tailored therapies, complete genetic information is a must. DNA sequencing can be useful to healthcare professionals in tailoring treatments better to the exact genetics and increasing the success of treatment with lower chances of side effects. It is highly demanded in cancer, as targeted medicines can be guided by the inputs received from genetic-related research. The clinical practices' use of genomics is surging forward, and the market expands with healthcare systems stressing precision medicine to obtain better outcomes for patients and that motivates the acquisition of advanced sequencing services and technology.
Technological Advancements
- The DNA sequencing market is driven by tremendous advances in the sequencing technology itself. Technologies, including third-generation sequencing technologies and next-generation sequencing, have greatly reduced costs while increasing the throughput and accuracy of sequencing operations. However, these technical innovations have brought the opportunity for the researcher to produce massive amounts of genomic data rapidly-in other words, democratizing access to sequencing for a wider audience, including academic institutions, clinical laboratories, and biotechnology companies. DNA sequencing techniques are becoming even more robust in support for a broad range of applications, from fundamental research to clinical diagnostics. This is fostering increasing adoption in wide coverage across many industries and overall market extension.
Restraints
Costly Infrastructure and Resource Requirements
- The DNA sequencing market faces difficulties, including high-cost infrastructure and sequencing technology. Even as the costs have declined over time, many research institutes and healthcare providers, particularly those in poor countries, still probably face significant barriers to securing the reagents, equipment, and skilled personnel necessary to accomplish the work. Data processing and storage may drive budgets higher owing to operational expenses. Other limitations in terms of finance restrict the adaptation of advanced sequencing solutions, especially in mini labs or facilities which would, in turn, impact the growth of the industry at large and the access to advanced genomic technology.
Difficulties with Data Management
- Sequencing DNA produces extremely large data volumes that make analysis and handling of the data very cumbersome. The complexity of genetic data raises the need for sophisticated bioinformatics techniques and knowledge to properly interpret the results and extract important insights. Data processing, analysis, and storage are some of the main problems for most businesses that cause a hindrance in the advancement of research and therapeutic applications. Complexity is further compounded by concerns over patient privacy and data security while processing genetic data. Such challenges may deter potential consumers from using sequencing technology and thus hinder market expansion while businesses struggle to navigate this complex genetic data management.
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DNA Sequencing Market Competitive Landscape
Key firms that vie for innovation and market are Illumina, Thermo Fisher Scientific, QIAGEN, and BGI Genomics. Companies invest significantly in R&D to push forward the sequencing technology and provide other services. Common methods by which businesses strengthen their capacities are through mergers & acquisitions and strategic collaborations. Most importantly, the boost of the economy calls for the growth of startups. This brings forth more innovation and strong competition.
DNA Sequencing Market Top Player’s Company Profiles
- Illumina, Inc.
- Thermo Fisher Scientific, Inc.
- Pacific Biosciences of California Inc.
- BGI Group
- Oxford Nanopore Technologies Ltd.
- Qiagen N.V.
- F. Hoffmann-La Roche Ltd.
- PerkinElmer Inc.
- Agilent Technologies, Inc.
- Eurofins Scientific SE
- Zymo Research Corp.
- Hamilton Company
- Genewiz Inc.
- Macrogen Inc.
- DNASTAR Inc.
- GENEWORLD
- Bio-Rad Laboratories Inc.
- BioChain Institute Inc.
- Beckman Coulter Inc.
- Novogene Corporation
Recent Developments in DNA Sequencing Industry
- In November 2023, Illumina, Inc. has recently established the Global Health Access Initiative to offer access of public health sequencing technologies to low- and middle-income countries.
- In August 2023, PacBio agreed to acquire Apton Biosystems. The company is expected to speed up the development process of short-read sequencers that in turn would propel the growth of the market.
- In August 2023, PacBio and the University of Washington announced a research partnership for studying the capabilities of HiFi long-read WGS. This is expected to increase the analytical speed in people with different kinds of genetic diseases.
DNA Sequencing Key Market Trends
Using AI and Machine Learning:
- Key trend in advancing the data analysis and interpretation of DNA sequencing data is harnessing AI and machine learning technology into the DNA sequencing business. AI and ML algorithms can arguably be used to dramatically improve the speed with which genomic data is processed, hence giving researchers the ability to pull out information rapidly and accurately from otherwise difficult-to-analyze datasets by recognizing patterns and making predictions. This technological convergence would thus be quite useful in personalized medicine and clinical diagnostics, where precise and fast genetic information is much in demand. The application of these technologies is predicted to drive innovation in the utilization of sequencing as they continue to evolve, paving the way toward more complex data-driven healthcare solutions.
Increasing Interest in Liquid Biopsy Applications:
- One other critical trend the DNA sequencing market is experiencing is increasing interest in the applications of liquid biopsy. Liquid biopsies show great promise in cancer for tracking changes in tumors and evaluating therapeutic outcomes by identifying biomarkers and genetic abnormalities. Liquid biopsies should become increasingly used by more medical professionals as even more studies determine the effectiveness of liquid biopsies so that patients can benefit from an individualized treatment regimen or be diagnosed early with cancer. This improvement in patient comfort aside, it opens avenues for new therapeutic applications and research into genetics.
DNA Sequencing Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the DNA sequencing market is expected to witness rapid growth because of the convergence of technological breakthroughs, growing needs for customized medicine, and the expansion of the application of sequencing in various industries. With such barriers as overpriced costs, complex data management, perpetual breakthroughs in technology, and introduction of artificial intelligence which heighten effectiveness and access. The market is going to witness significant improvement that's going to change health care, research, and diagnostics and eventually end with better patient outcomes and new scientific understanding as the leading companies and new participants continue their development and extension of offerings.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 10.5 billion |
| Market size value in 2031 | USD 44 billion |
| Growth Rate | 17.12% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on DNA Sequencing Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on DNA Sequencing Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the DNA Sequencing Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the DNA Sequencing Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the DNA Sequencing Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the DNA Sequencing Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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