WASHINGTON, Nov. 21, 2022 (GLOBE NEWSWIRE) -- Global DNA Sequencing Market is valued at USD 4.8 Billion in 2021 and is projected to reach a value of USD 12.6 Billion by 2028 at a CAGR (Compound Annual Growth Rate) of 17.5% over the forecast period 2022-2028.
One of the most significant economic sectors is the DNA Sequencing Market, and consistent growth is predicted. Despite the industry's volatility, various factors could impact its development or demise. This study examines current trends and potential developments to provide a comprehensive industry overview. It also details the industry's key players and their expansion strategies.
The study provides a complete evaluation of worldwide producers and suppliers and their current state and future potential. It also includes information on demand-side variables influencing the global need for, such as rising investment demands, expanding technology, and new laws.
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Market Overview
According to Vantage Market Research, some of the key factors anticipated to accelerate the DNA Sequencing Market growth over the forecast period. The growth of the DNA Sequencing Market will be influenced by several important factors, including the increasing prevalence of genetic diseases (or chromosomal disorders), the growing preference for personalized medicine as a result of rising demand for targeted therapies, and the development of technological advancements like third-generation sequencing. Additionally, the increased emphasis on research and development efforts on genetic and infectious disorders and drug development in industry and academia will fuel market expansion in the upcoming years.
We forecast that the third-generation DNA sequencing category in DNA Sequencing Market sales will account for more than 30% of total sales by 2028. This approach resolves the issues with second-generation methods by enabling quick and easy sample preparation without requiring PCR amplification.
The majority of the global DNA Sequencing Market is thought to be in North America. A few important elements, like the high prevalence of cancers and a favorable regulatory environment, will affect market growth. Market expansion in this region will also be fueled by the increasing emphasis on genome sequencing, driven by initiatives like human genome projects and the establishment of DNA sequences for other infectious microorganisms.
Market Dynamics
Increasing Prevalence of Cancer:
Globally, the incidence of cancer is rising. It is simple to find the development of DNA sequencing for comprehending the mechanism of any bodily malfunction. With these factors considered, the global DNA Sequencing Market may experience rapid growth. The demand for the market is rising due to the sizeable increase in the elderly population and the rising number of patients diagnosed with cancer and chronic diseases. As a result, this factor may present the pharmaceutical manufacturing market with exceptional growth opportunities.
Increasing Technological Advancements:
DNA sequencing technology advancements have significantly contributed to the market's growth. Sequencing technology has advanced significantly, from 2D sequencing to DNA sequencing. High-throughput functional genomics research has recently benefited from the unique opportunities afforded by platforms like Illumina/Solexa, ABI/SOLiD, 454/Roche, and Helicos. Better DNA sequencing tools, newer sequencing technologies, inventive ways to locate chromosome sequences, and biologists' concentration on creating better genomes have contributed to this.
Increasing R&D for Next-Generation Sequencing Technology:
The need for next-generation sequencing techniques will increase over the forecast period as R&D for treatments used to treat genetic disorders increases. As R&D expenditures rise and the number of studies investigating the treatment of genetic disorders among individuals rises, there will be a significant market demand. Governments in industrialized nations have put in place several policies and laws to entice scientists and researchers to investigate cures for chronic and uncommon diseases.
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Top Players in the Global DNA Sequencing Market
- Agilent Technologies
- Illumina Inc.
- QIAGEN
- Perkin Elmer
- Thermo Fisher Scientific
- Hoffmann-La Roche Ltd.
- Macrogen Inc.
- Bio-Rad Laboratories Inc
- Oxford Nanopore Technologies Ltd.
- Myriad Genetics
Top Trends in Global DNA Sequencing Market
- One trend that Vantage Market Research (VMR) expects to see in the DNA Sequencing Market industry is the growing application of DNA sequencing. Numerous health-related difficulties are currently emerging as a result of lifestyle changes. DNA sequencing makes the correct diagnosis of cancer, psychiatric disorders, and reproductive health concerns possible. DNA sequencing may make it feasible to obtain a clear image of one's health status, which may open up the new business potential for the DNA sequencing industry.
- Another trend that VMR predicts will continue in the DNA Sequencing Market industry due to the increased use of DNA sequencing in agriculture for better production of crops. It is feasible to monitor a plant's ability to resist illness, tolerate drought, and yield by evaluating genetic and environmental factors. Molecular markers for genetic determinants have improved crop breeding efficiency and provided extra agricultural benefits.
Top Report Findings
- Based on product, the instruments category held the largest revenue share in the DNA Sequencing Market. The expansion of next-generation sequencing platforms is credited with driving the Instrument segment's growth. The increase in demand for higher-resolution sequencing will propel the growth of this segment.
- Based on technology, most of the DNA Sequencing Market's revenue is controlled by third-generation DNA sequencing. Due to its low cost and simplicity of use, third-generation DNA sequencing technology is becoming increasingly popular.
- Based on application, the clinical investigation dominated the DNA Sequencing Market, and it is anticipated that this trend will continue due to the growing use of DNA sequencing as a diagnostic tool. The growth of this market over the forecast period is anticipated to be driven by the rise in the adoption of DNA sequencing for various medical applications, including disease detection and genotyping.
- Based on end-use, the clinical research category dominated the DNA Sequencing Market, and it is anticipated that this trend will continue because of the growing need for precise healthcare. This market's growth is driven by the rising adoption of genomic medicine and rising attention to personalized medicine. Additionally, the market is expanding due to factors like the rapidly expanding senior population and the rise in chronic diseases.
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Top 10 Players Generates More Than 45% of the Global DNA Sequencing Market Revenue
The report also found that the largest players in the DNA Sequencing Market are technology providers such as Agilent Technologies, Illumina Inc., QIAGEN, Perkin Elmer and Thermo Fisher Scientific. These companies are expected to benefit from increased demand for their products and services and growing investments in new mines. Other major players include Agilent Technologies, Illumina Inc., QIAGEN, Perkin Elmer, Thermo Fisher Scientific, Hoffmann-La Roche Ltd., Macrogen Inc., Bio-Rad Laboratories Inc., Oxford Nanopore Technologies Ltd., Myriad Genetics and others. As per latest report published by Vantage Market Research, top 10 companies are responsible for generating more than 45% revenue of the market.
Third Generation DNA Sequencing Category in DNA Sequencing Market to Generate Over 30% Revenue
DNA Sequencing Market is an expensive investment. Vantage Market Research has analyzed the market for DNA Sequencing Market to understand its current state and potential future growth factors. For better understanding, based on product DNA Sequencing Market is divided into: third-generation DNA sequencing, next-generation sequencing and sanger sequencing.
During the forecast period, the market for DNA Sequencing Market is anticipated to experience the highest CAGR for third-generation DNA sequencing techniques like Nanopore and Single-Molecule Real-Time sequencing. By allowing for quick and simple sample preparation without the need for PCR amplification, this technology solves the problems associated with second-generation techniques. To find repetitive sites in complex genomes, it also generates long reads longer than many kilobases.
On the other hand, the next-generation sequencing category is anticipated to grow at a significant rate over the forecast period. Genome sequencing is now quicker, more accessible, and more precise because of these revolutionary technological advancements and the falling cost of sequencing. Additionally, the use of NGS technology for routine clinical diagnostic tests is growing, especially in light of the COVID-19 infection pandemic, which benefits the segment's revenue share.
Browse market data Tables and Figures spread through 141 Pages and in-depth TOC on DNA Sequencing Market Forecast Report (2022-2028).
Global DNA Sequencing Market Segmentation
By Product
- Instruments
- Consumables
- Services
By Technology
- Third Generation DNA Sequencing
- Next-Generation Sequencing
- Sanger Sequencing
By Application
- Clinical Investigation
- Oncology
- Forensics & Agri-Genomics
- Reproductive Health
- HLA Typing
- Other Applications
By End-Use
- Clinical Research
- Academic Research
- Biotechnology & Pharmaceutical Companies
- Hospitals & Clinics
- Other End-Uses
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Scope of the Report:
| Report Attributes | Details |
| Market Size in 2021 | USD 4.8 Billion |
| Revenue Forecast by 2028 | USD 12.6 Billion |
| CAGR | 17.5% from 2022 to 2028 |
| Base Year | 2021 |
| Forecast Year | 2022 to 2028 |
| Key Players | Agilent Technologies, Illumina Inc., QIAGEN, Perkin Elmer, Thermo Fisher Scientific, Hoffmann-La Roche Ltd., Macrogen Inc., Bio-Rad Laboratories Inc., Oxford Nanopore Technologies Ltd., Myriad Genetics |
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