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 & Service (Instruments, Consumables), By Technology, By Workflow, By Application, By End-use, By Region - Industry Forecast 2025-2032

Report ID: SQSG35H2013 | Region: Global | Published Date: February, 2024
Pages: 165 | Tables: 126 | Figures: 77

DNA Sequencing Market Insights

DNA Sequencing Market size was valued at USD 12.29 Billion in 2023 and is poised to grow from USD 14.39 Billion in 2024 to USD 51.53 Billion by 2032, growing at a CAGR of 17.12% during the forecast period (2025-2032).

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.

DNA Sequencing Market Report Snapshots

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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 ', 'Pacific Biosciences (PacBio) ', 'Oxford Nanopore Technologies ', 'Qiagen ', 'Agilent Technologies ', 'Bio-Rad Laboratories ', 'PerkinElmer ', 'Element Biosciences ', 'MGI (BGI Group) ', 'Genewiz ', 'Macrogen ', 'OncoDNA ', 'Hamilton Thorne ', 'DNASTAR ', 'Eurofins GATC Biotech ', 'Roche Diagnostics ', 'Wasatch BioLabs ', 'Integrated DNA Technologies (IDT) ', 'Genomatic AG '

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 Size, Share, Growth Analysis, By Product & Service (Instruments, Consumables), By Technology, By Workflow, By Application, By End-use, By Region - Industry Forecast 2025-2032

DNA Sequencing Market Insights

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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