DNA Sequencing Market to Surpass US$ 14,755.5 Million by 2030, Says Coherent Market Insights (CMI)

Burlingame, June 07, 2023 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, Global DNA Sequencing Market is estimated to be valued at US$ 6,802.2 million in 2023 and is expected to exhibit a CAGR of 11.7% during the forecast period (2023-2030).

Analysts’ Views on Global DNA Sequencing Market:

Rising demand for DNA Sequencing for research and development activities is expected to drive the market growth over the forecast period. For instance, in February 2022, the government of India approved five private laboratories to carry out the whole genome sequencing of Sars-CoV-2 variants. The Bengaluru labs included Strand Life Sciences, Genotypic Technologies Pvt Ltd, and Eurofins Genomics India; the one from Delhi was CARINGdx; and the one from Ahmedabad was Neuberg Supratech Reference Labs Pvt Ltd.

Key Trends and Analysis of the Global DNA Sequencing Market:

The increasing inorganic growth strategies such as partnership by key players in the market to expand product portfolio is expected to drive the market growth over the forecast period. For instance, in February 2022, Element Biosciences, Inc., a developer of new and disruptive DNA sequencing platform, announced a partnership with Dovetail Genomics, a life science company, demonstrating the value and performance of Dovetail’s proximity ligation-based next-generation sequencing (NGS) library prep solutions on Element’s AVITI System.

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Global DNA Sequencing Market- Drivers

Increasing adoption of inorganic strategies such as collaboration

Increasing adoption of inorganic strategies such as collaborations by key players in the market to expand their product portfolio is expected to drive market growth over the forecast period. For instance, in January 2021, SPT Labtech, a provider of instruments and consumables, announced collaboration with Thermo Fisher Scientific Inc, an American supplier of scientific instrumentation, for variant detection at a low cost. This collaboration allowed the scientists to expand the scope of their research programs.

Increasing adoption of organic strategies such as product launch

Increasing adoption of organic strategies such as product launch by key players in the market to expand their product portfolio is expected to drive market growth over the forecast period. For instance, in October 2022, PacBio, a developer of sequencing solutions, announced the launched of Revio long-read sequencing system. Revio is designed to provide customers with the ability to sequence up to 1,300 human whole genomes per year at 30-fold coverage for less than $1,000 per genome.

DNA Sequencing Market Report Coverage

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Global DNA Sequencing Market- Restraint

The disadvantages of DNA Sequencing

The major factors that can hamper the growth of the global DNA sequencing market over the forecast period include high cost of DNA sequencing, lack of specific expertise, disadvantages such as data generation on a large scale, and decreased raw accuracy in homology. For instance, in January 2022, according to the data provided by AAT Bioquest, Inc., a manufacturer of bio- analytical research reagents and kits, the disadvantage of whole genome sequencing (WGS) is that the process generates data on a large scale. The vast volume of data generated requires an additional storage capacity and more time to analyze. This increases the cost as well as the time required for the analysis.

Global DNA Sequencing Market- Opportunity

The increasing technological advancement in field of medicine

Various technological advancements are progressing rapidly in the medical field, leading to the development of personalized medicine. Many applications of next-generation sequencing is used in the production of personalized medicine such as drug development that creates opportunity for market growth. For instance, in May 2020, CARTANA, a biotechnology company, announced the launch of a new range of In Situ Sequencing (ISS) reagent kits that are designed to increase the efficiency and enable ISS virtually on any tissue sample. Users were able to analyze either fresh/fixed frozen samples or rapidly created single- cell gene expression maps made up of 600 genes.

Global DNA Sequencing Market Cross Sectional Analysis:

In technology, Next-Generation Sequencing segment is dominant during forecast period in Europe region due to increasing adoption of inorganic strategies such as partnerships by key players in the market to expand their product portfolio is expected to drive segment growth over the forecast period. For instance, on September 14, 2022, QIAGEN N.V., a Netherlands-based holding company, announced a partnership with Neuron23 Inc., a biotechnology company, to develop a next- generation sequencing assay companion diagnostic for Neuron23’s brain penetrant leucine-rich repeat kinase (LRRK2) inhibitor for Parkinson’s disease. This partnership will help in the clinical development of Neuron23’s drug candidate that is currently in the late stage of pre-clinical development.

Global DNA Sequencing Market Segmentation:

The global DNA sequencing market report is segmented into Product Type, Technology, Application, End User and Region

Based on Product Type, the market is segmented into consumables, instruments, and services. Out of which, Consumables segment is expected to dominate in the DNA sequencing market during the forecast period and this is due to the increase in the inorganic growth strategies such as collaboration by key players in the market.

Based on Technology, the market is segmented into Sanger Sequencing, Next-Generation Sequencing, Third- Generation DNA Sequencing, and Others. Out of which, Next-Generation Sequencing segment is expected to dominate in the market over the forecast period and this is a due to increase in the use of Next-Generation Sequencing technology for research and development activities.

Based on Application, the DNA sequencing market is segmented into Oncology, Reproductive Health, Clinical Investigation, Agrigenomics & Forensics, Metagenomics, Epidemiology & Drug Development, and Others. Oncology segment is expected to dominate in the market over the forecast period and this is attributed to the increase in the usage of DNA sequencing to treat cancer.

Based on End User, the DNA sequencing market is segmented into Hospitals & Clinics, Pharmaceutical & Biotechnology Companies, Clinical Research, and Others. Of which, Pharmaceutical & Biotechnology Companies segment is expected to dominant in the market over the forecast period and this is due to the increase use of DNA sequencing technology for drug development.

Among all segmentation, End User segment has the highest potential due to increasing adoption of inorganic growth strategies such as partnership by key players in the market to expand their product portfolio. For instance, Verogen Inc., a developer of human identification products for sequencing and analyzing of forensic genomic samples, announced a partnership with Cellmark Forensic Services., a provider of forensic DNA services. This partnership offered Next Generation Sequencing NGS-based forensic services to Verogen Inc. that helped in increasing their product portfolio.

Global DNA Sequencing Market: Key Developments

In August 2021, ProPhase Labs, Inc., a diversified medical science and technology company, announced the acquisition of Nebula Genomics, a privately-owned genomics company. This acquisition helped in integrating Nebula’s whole genome sequencing services with the robust clinical diagnostic testing services.

In July 2021, 10x Genomics, a science technology company, announced the launch of new Chromium X Series, a next-generation platform for single cell analysis. The new Series comprises the Chromium X, an instrument capable of running experiments for tens of thousands of cells seamlessly upgradable to the X, as the scientists expand their research projects.

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Key Market Takeaways:

The global DNA sequencing market is expected to exhibit a CAGR of 11.7% during the forecast period due to increasing adoption of inorganic growth strategies such as acquisitions by key players in the market to increase their product portfolio and presence in the market. For instance, in May 2020, F. Hoffmann-La Roche Ltd, a pharmaceutical company, announced the acquisition of Stratos Genomics, an early-stage sequencing technology company, to develop DNA based sequencing for diagnostic uses. The acquisition provided F. Hoffmann-La Roche Ltd an access to Stratos Genomics’ unique chemistry, Sequencing by Expansion (SBX), to sequence DNA fast, flexible, and cost-effective clinical diagnostic testing.

Among application, oncology segment is dominant due to increasing adoption of organic growth strategies, such as product approval by key players in the market for treatment of cancer, is expected to drive the segment growth over the forecast period. For instance, on December 13, 2022, QIAGEN N.V., a Netherlands-based holding company, announced that the U.S. Food and Drug Administration (FDA) approved its therascreen KRAS RGQ PCR kit (therascreen KRAS kit) for non-small cell lung cancer (NSCLC). The drug is indicated for the treatment of adult patients with KRAS G12C-mutated locally advanced or metastatic NSCLC.

On the basis of end user, Pharmaceutical & Biotechnology Companies segment is expected to hold a dominant position over the forecast period, owing to increasing adoption of organic growth strategies such as product launches by key players in the market to expand their product portfolio. For instance, in March 2021, Sysmex Corporation, a developer and manufacturer of instruments and reagents, launched the XR Series Automated Hematology Analyzer, the flagship next-generation hematology model, and the XQ Series Automated Hematology Analyzer, a compact three-piece WBC differential model which analyzes the number, type, and size of red and white blood cells as well as platelets in the blood.

Competitive Landscape:

Key players operating in the global DNA sequencing market include Thermo Fisher Scientific, Inc., Illumina, Inc., PerkinElmer Genomics, QIAGEN, Agilent Technologies, Inc., F. Hoffmann-La Roche Ltd, Macrogen, Inc., Abbott, PacBio, Zymo Research Corporation, Oxford Nanopore Technologies plc, Tecan Trading AG, Hamilton Company, ZS Genetics, Inc. and LI-COR, Inc.

Market Segmentation:

• Global DNA Sequencing Market, By Product Type:
  • Consumables
  • Instruments
  • Services
• Global DNA Sequencing Market, By Technology:
  • Sanger Sequencing
  • Next-Generation Sequencing
  • Third- Generation DNA Sequencing
  • Others
• Global DNA Sequencing Market, By Application:
  • Oncology
  • Reproductive Health
  • Clinical Investigation
  • Agrigenomics & Forensics
  • Metagenomics, Epidemiology & Drug Development
  • Others
• Global DNA Sequencing Market, By End User:
  • Hospitals & Clinics
  • Pharmaceutical & Biotechnology Companies
  • Clinical Research
  • Others
• Global DNA Sequencing Market, By Region:
  • North America
    • By Country:
      • U.S.
      • Canada
  • Latin America
    • By Country:
      • Brazil
      • Mexico
      • Argentina
      • Rest of Latin America
  • Europe
    • By Country:
      • Germany
      • U.K.
      • France
      • Italy
      • Spain
      • Russia
      • Rest of Europe
  • Asia Pacific
    • By Country
      • China
      • India
      • Japan
      • Australia
      • South Korea
      • ASEAN
      • Rest of Asia Pacific
  • Middle East
    • By Country:
      • GCC
      • Israel
      • Rest of Middle East
  • Africa
    • By Country/Region:
      • South Africa
      • Central Africa
      • North Africa

Related Market Intelligence Reports:

Third Generation Sequencing Market, By Type of Technology (Single-molecule real-time (SMRT) sequencing, Nanopore sequencing, Others), By Product (Instruments, Reagents and consumables, Services), By Application (Genome sequencing, Epigenetics, Transcriptomics, Metagenomics, Others), By End User (Academic and research institutes, Pharmaceutical and biotechnology companies, Hospitals and clinics, Contract research organizations (CROs), Others), And By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa)- Size, Share, Outlook, and Opportunity Analysis, 2023 – 2030

Precision Medicine Market, by Technology (Bioinformatics, Gene Sequencing, Drug Discovery, Precision Molecular Diagnostics, and Big Data Analytics), by Application (Oncology (Breast Cancer, Lung Cancer, and Others), Central Nervous System, Hematology, Respiratory, Immunology, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030

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