What is the global market size of DNA Sequencing Market?

Global DNA Sequencing Market size was valued at USD 10.5 billion in 2021 and is poised to grow from USD 12.29 billion in 2022 to USD 44 billion by 2030, growing at a CAGR of 17.12% in the forecast period (2023-2030).

Who are the key vendors in the Global DNA Sequencing Market?

In 2021, the top companies in the worldwide DNA sequencing market are Illumina, Inc., Thermo Fisher Scientific, Agilent Technologies, QIAGEN, and Perkin Elmer. These businesses engage heavily in production, distribution, and complete quality control in order to expand their portfolio while also attempting to meet the growing consumer demand. For instance, Face2Gene LABS was launched in June 2021 by PerkinElmer, Inc. and FDNA, an artificial intelligence startup, to offer genomic services in conjunction with Next-Generation Phenotyping (NGP) technologies for more precise and effective diagnosis. By providing effective genomic testing alternatives of the highest calibre, this project demonstrated Perkin Elmer's dedication to the diagnosis of patients with genetic and uncommon illnesses. The following are a few of the leading companies in the DNA sequencing market: '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'

What is the key driver of Global DNA Sequencing Market?

Growing clinical symptoms are thought to represent viral infections in recent years, but utilizing conventional culture procedures or molecular techniques to identify the virus that is causing them is getting more challenging. In the past, the random sequencing of viral genomes has aided in the discovery of novel viruses. These methods continue to grow in popularity at the present. The significance of DNA sequencing has increased due to its primary usage in viral identification.

What is the key market trend for Global DNA Sequencing Market?

Although genomics only began to be used in medicine 50 years ago, technology has advanced significantly since then. The conventional two-dimensional chromatography required a lot of time. Fluorescent-based sequencing techniques, however, are now available and are very quick to run thanks to technological improvements. While a full genome today only costs a few thousand dollars, laboratories perform over 100,000 billion sequencing operations annually. The key factors driving the growth of the DNA sequencing industry are the procedure's decreased costs and time requirements.

Which region accounted for the largest share in DNA Sequencing Market?

With a revenue share of 44.3 % in 2021, North America dominated the market for DNA sequencing. North America currently holds the largest market share for DNA sequencing due to ongoing technological advancements made by key players, significant R&D spending, and the availability of technologically advanced healthcare infrastructure. The development of new cancer treatments and medications is supported by a number of government programs in the United States and Canada. For instance, the BC Cancer Foundation's Personalized Onco-Genomics initiative, which is a part of the Provincial Health Services Authority in British Columbia, Canada, uses transcriptome and whole-genome analysis to identify the cancer genes and the medications that go with them. These medications have the ability to block important pathways in cancer patients. These open-source initiatives should increase the use of these technologies in the area.

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 News

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.

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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).

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. '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'

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.

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.

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.

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DNA Sequencing Market Report Snapshots

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What is the global market size of DNA Sequencing Market?

Who are the key vendors in the DNA Sequencing Market?

What is the key driver of DNA Sequencing Market?

What is the key market trend for DNA Sequencing Market?

Which region accounted for the largest share in DNA Sequencing Market?

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