REDDING, Calif., Aug. 15, 2024 /PRNewswire/ -- According to a new
market research report titled, 'DNA Sequencing
Market Size, Share, Forecast, & Trends Analysis by
Offering (Kits & Reagents [DNA Extraction, Library Preparation,
QC], Instruments, Software), Technology (NGS, Sanger), Application (Clinical, Research), End
User – Global Forecast to 2031,' published by Meticulous
Research®, the DNA sequencing market is projected
to reach $21.30
billion by 2031, at a CAGR of
11.8% during the forecast period.
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DNA sequencing is a technology used to sequence the orientation
of nucleotides in genetic material. This technology enables the
sequencing of DNA more precisely, allowing researchers to decode
genetic information at an unprecedented scale and speed.
This market's growth is driven by factors such as decreasing
sequencing costs, increasing adoption of DNA sequencing in disease
diagnostics & precision medicine, rising R&D investments,
improvements in regulatory & reimbursement policies, increasing
healthcare spending, technological advancements in sequencing
products, and government initiatives supporting the use of
sequencing in clinical & research settings. However, the high
costs of DNA sequencing consumables, the limited frequency of
identifying actionable mutations for precision medicine, and
various ethical and legal concerns related to DNA sequencing-based
diagnostics restrain the market's growth.
Moreover, the expanding applications of DNA sequencing in
disease diagnosis, drug development, and treatment planning,
supportive government initiatives for large-scale genomic projects,
increasing awareness and adoption of targeted therapies, and rising
demand for DNA sequencing solutions from emerging economies are
anticipated to create market growth opportunities. However,
regulatory uncertainties, limited expertise and sequencing
capabilities in small and medium-sized labs, a shortage of
sequencing professionals in developing nations, and the significant
capital required for NGS infrastructure are some of the challenges
impacting the growth of this market.
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In addition, the increasing focus on advancing technologies and
reducing costs among emerging companies, as well as the development
of portable and real-time sequencing technologies by established
players, are prominent trends in this market.
Increasing Application of NGS in Precision Medicine Driving
Market's Growth
Precision medicine is an emerging approach to patient care.
Physicians choose a treatment method based on the patient's genetic
makeup, also considering genetic changes resulting from a disease
and lifestyle habits. It is an emerging disease treatment &
prevention approach that considers variability in genes,
environments, and lifestyles among individuals. Precision medicine
can reduce the need for guesswork (trial and error in medication
depending on how the medication affects the patient's symptoms),
help physicians overcome challenges related to variable diagnostic
ability, and aid the development of treatment strategies based on
generalized demographics. Moreover, precision medicine provides a
more holistic view of an individual's health. In clinical
workflows, precision medicine facilitates more predictive and
preventive care through targeted therapies. Major advantages of
precision medicine include reductions in trial & error
prescriptions, avoidance of adverse drug reactions, increased
patient adherence to treatment due to fewer side effects, a
decrease in the prescription of unnecessary drugs to non-responder
patients, optimization of drug development costs, better control
over healthcare costs, the revival of failed drugs for use in
genetically defined populations, and improvements in patient's
quality of life.
Advancements in next-generation sequencing (NGS) technology are
revolutionizing disease diagnosis and treatment methods. The
emerging field of targeted therapies, which leverages genomic data
to deliver personalized treatments, is becoming increasingly
integrated into mainstream clinical practice. This approach
involves molecular profiling to identify targetable alterations, or
biomarkers, in cells. NGS technology enables the rapid and reliable
sequencing of multiple genes simultaneously, facilitating the
development of precision medicine. Precision medicine customizes
treatments based on the specific molecular changes driving an
individual's disease. These innovations are anticipated to
significantly propel the growth of the DNA sequencing market.
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The report also includes an extensive assessment of the key
growth strategies adopted by leading market players over the
past three to four years. Some of the key players operating in the
DNA sequencing market are Illumina, Inc. (U.S.), Thermo Fisher
Scientific Inc. (U.S.), F. Hoffmann-La Roche Ltd. (Switzerland), Revvity, Inc. (U.S.), QIAGEN
N.V. (Netherlands), Agilent
Technologies, Inc. (U.S.), Pacific Biosciences of California, Inc. (U.S.), Danaher Corporation
(U.S.), Bio-Rad Laboratories, Inc. (U.S.), Oxford Nanopore
Technologies Plc. (U.K.), and MGI Tech Co., Ltd. (China).
Among the offerings covered in this report, in 2024, the
consumables segment is expected to account for the largest share of
73.4% of the DNA sequencing market. This segment's large
market share is attributed to the recurring demand for consumables,
increasing use of DNA sequencing in clinical & research
applications, and rising preference for sequencing-based
diagnostics and treatment.
Among the applications covered in this report, in 2024, the
research & other applications segment is expected to account
for the larger share of 67.2% of the DNA sequencing market.
This segment's large market share can be attributed to increasing
demand for gene-based medicines, growing investments in drug
research and development activities, and increasing research
programs for personalized medicine.
Among the end users covered in this report, in 2024, the
pharmaceutical & biotechnology companies segment is expected to
account for the largest share of 44.7% of the DNA sequencing
market. This segment's large market share can be attributed to the
increasing R&D spending by pharmaceutical & biotechnology
companies, the growing utilization of DNA sequencing products and
solutions in the drug development process, and the rising demand
for precision medicines.
Based on geography, the DNA sequencing market is segmented into
North America (U.S. and
Canada), Europe (Germany, France, U.K., Italy, Spain,
and Rest of Europe), Asia-Pacific (China, Japan,
India, and Rest of Asia-Pacific), Latin
America (Brazil,
Mexico, Rest of Latin America), and the Middle East & Africa. In 2024, North America is expected to dominate the DNA
sequencing market with a share of 49.0%. North America's major market share can be
attributed to the high R&D investments by pharmaceutical and
biotechnology companies, the presence of leading DNA sequencing
solution providers, supportive government initiatives for genomics
research, expanding applications of NGS-based research, increased
awareness of sequencing-based diagnostics, a rising incidence of
cancer and genetic disorders, and favorable reimbursement policies
in the region.
However, the market in Asia-Pacific is projected to register the
highest CAGR of 12.9% during the forecast period.
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Scope of the Report:
DNA Sequencing Market Assessment—by Offering
- Consumables
- Sample Preparation Kits & Reagents
- DNA Extraction & Amplification
- Quality Control
- Other Kits & Reagents
- Other Consumables
- Instruments
- Software
- Services
Note: Other kits & reagents include dilution buffers,
DNA standards, reagents for DNA cleanup, and target enrichment,
among others
DNA Sequencing Market Assessment—by Technology
- Next-Generation Sequencing
- Sequencing by Synthesis
- Ion Semiconductor Sequencing
- DNA Nanoball Sequencing
- Single-molecule Real-time Sequencing
- Other NGS Technologies
- Sanger Sequencing & Pyrosequencing
Note: Other NGS Technologies include nanopore sequencing and
AVITI sequencing
DNA Sequencing Market Assessment —by Application
- Research & Other Applications
- Drug Discovery
- Agriculture & Animal Research
- Other Applications
- Clinical Applications
- Reproductive Health
- Oncology
- Infectious Diseases
- Other Clinical Applications
Note: Other Applications include food microbiology, microbiota
analysis in the beverage industry, and environmental studies.
Note: Other Clinical Applications include the detection of
genetic aberrations in neurological disorders, rare diseases, and
metabolic and immune disorders.
DNA Sequencing Market Assessment—by End User
- Pharmaceutical & Biotechnology Companies
- Hospitals & Diagnostic Laboratories
- Academic Institutes & Research Centers
- Other End Users
Note: Other End Users include forensic laboratories &
security agencies, food & beverage companies, and agriculture
companies.
DNA Sequencing Market Assessment—by Geography
- North America
- Europe
- Germany
- France
- Italy
- U.K.
- Spain
- Rest of Europe (RoE)
- Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific (RoAPAC)
- Latin America
- Brazil
- Mexico
- Rest of Latin America
(RoLATAM)
- Middle East &
Africa
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Related Reports:
Next Generation Sequencing (NGS) Informatics Market by Offering
(Data Analysis, Interpretation & Reporting, Storage &
Computing, LIMS) Application (Diagnostic, Drug Discovery, Precision
Medicine, Biomarker Discovery) End User - Global Forecast to
2030
Next-Generation Sequencing (NGS) Market: Industry Outlook
by Offering (Sample Preparation [DNA Extraction, Library
Preparation, Automation], Systems, Bioinformatics, Sequencing
Services) Application (Clinical, Research) End User — Global
Forecast to 2031
NGS Automation Market by Product (Platform, Consumables),
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Discovery, Diagnostics), End User (Hospitals, Diagnostic
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Next Generation Sequencing Services Market by Type
(Targeted, RNA, De Novo, WES, WGS), Technology (Sequencing by
Synthesis, Ion Semiconductor, SMRT, Nanopore), Application
(Research, Clinical [Oncology, Reproductive]), End User - Global
Forecast to 2030
Sequencing Kits Market Size, Share, Forecast, & Trends
Analysis by Type (Nucleic Acid Extraction & Amplification,
Library Preparation) Technology (NGS, Sanger) Application (Drug Discovery, Oncology,
Reproductive Health) End User – Global Forecast to 2031
Sample Preparation Market Size, Share, Forecast &
Trends Analysis by Product (Workstation, Pipette, Washer,
Centrifuge, Grinder, Filters, Plates, Kits), Technique (Solid Phase
Extraction, Purification), Application, End User – Global Forecast
to 2031
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