New York, USA, Nov. 29, 2022 (GLOBE NEWSWIRE) -- DNA Sequencing Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “DNA Sequencing Market Information by Types, Product, Technology, End Users, and Region - Forecast till 2030”, During the projection period of 2022-2030, the market could soar at a rate of 11.2% and touch USD 4870 million by 2030.
Market Synopsis
Scientists are now able to provide data regarding genetic variation and the contours of gene expression on a scale never before possible because of the quick development of DNA sequencing technology. Within a few years, reliable sequencing of the entire human genome will be possible because of DNA sequencing. For researchers and medical professionals, this technology will become standard equipment. Many sequencing systems now under research could offer larger improvements in resolution and throughput. Pharmacogenomics will be affected by the massively parallel sequencing technologies, which are currently changing practically all areas of genetics. The discovery of novel genetic variants that may affect medication response is the most common application of the new sequencing technologies in the field of pharmacogenomics.
Although genomics only began to be used in medicine 50 years ago, technology has advanced significantly since then. 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.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 4870 Million |
| CAGR | 11.2% |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Types, Product, Technology and End Users |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Growing prevalence of cancer and rising demand for high-throughput sequencing method |
| Boom in sequencing applications and technological developments in the DNA sequencing |
DNA Sequencing Market Competitive Landscape:
The affluent firms in the DNA sequencing industry are
- Perkin Elmer
- Roche Holdings AG
- Siemens AG
- Illumina
- Agilent Technologies Inc.
- Genia Corporation
- Oxford Nanopore Technologies
- Koninklijke Philips N.V.
- Pacific Biosciences
- Johnson & Johnson
- Deep Genomics Inc.
- Life Technologies
- Illumina
- Eppendorf
- Tecan
- Thermo Scientific
- Hamilton Thorne Biosciences
- General Electric Company
- Siemens Healthineers GmbH
- Myriad Genetics
- Bayer Corporation
- Beckman Coulter
The top companies in the worldwide DNA sequencing market are Illumina, Inc., Thermo Fisher Scientific, Agilent Technologies, QIAGEN, and Perkin Elmer. These and many other 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, in October 2022, Oxford Nanopore Technologies updated its high-throughput benchtop DNA sequencer with the goal of making genetic data accessible to a wide range of academics and scientific fields. The PromethION 2 Solo from the company, which can provide high-yield sequencing at an affordable price, is described as being around the size of a large book. The same sequencing equipment is used by the larger PromethION predecessors, which run 24 or 48 flow cells.
DNA Sequencing Market Dynamics:
Market Drivers:
The world is becoming more and more digital, and this includes the legality of the DNA sequencing business. Thanks to developments in technology and biological research, what was once thought of as a fringe practice is now teeming with high-tech companies and scientists alike. Given the variety of uses for DNA sequencing, it is not surprising that demand for this service has skyrocketed recently. The rising need for personalized treatment and early disease diagnosis is anticipated to be the main driver of this rise.
Genomic sequencing is increasingly utilized in preventative healthcare to identify people who are at risk for contracting specific illnesses like cancer and heart disease. Worldwide, more than 10 million people pass away from cancer each year, and more than 18 million people die from cardiovascular disorders. In actuality, 32% of all fatalities worldwide are caused by CVD. The market for DNA sequencing has a profitable growth opportunity as a result.
With the development of DNA sequencing technologies, precision medicine is becoming increasingly conceivable. This area of healthcare gives clinicians a much better understanding of a patient's biology, which can lead to better surgical outcomes and more efficient therapies. By sequencing a person's entire genome, doctors can discover any mutations that might be causing any medical problems. In some cases, the DNA sequencing market, this information can be applied to recommend tailored treatments that improve the patient's chance of success.
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Market Restraints:
The recent growth of the DNA sequencing business has been hampered by the high cost of the chemicals. Even though the total costs of the procedures have decreased, the DNA sequencing industry's expansion is significantly impacted by the rising costs of manufacturing the reagents and kits.
COVID 19 Analysis
There was a sharp increase in the number of COVID cases worldwide in 2019 and 2020. The disease has had an impact on various nations' economies. Rapid genome sequencing methods were used to track the progress of the viruses, and they also assisted in directing patients toward particular treatments. The method has greatly contributed to the control of the pervasive coronavirus.
The COVID sequencing test, which was completed in June 2020 and was able to sequence the entire coronavirus genome, contributed to a deeper understanding of the virus. This has steered COVID vaccine production in the appropriate direction. In addition, the Nova sequencing was able to identify the illness from over 3000 blood samples in under 24 hours.
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DNA Sequencing Market Segmentation
The types of DNA sequencers in the market include Workflow Products and more.
Products considered in the study are Consumables, Instruments, and Services.
Technology-based segments are Sequencing by Synthesis, Ion Semiconductor Sequencing, Sequencing by Ligation, Pyrosequencing, Single-molecule Real-time Sequencing, Chain Termination Sequencing, Nanopore Sequencing, and others.
Applications of DNA sequencing are Diagnostics, Biomarkers & Cancer, Reproductive Health, Personalized Medicine, Forensics, and more.
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DNA Sequencing Market Regional Insights
North America currently controls the greatest share of the DNA sequencing market as a result of the existence of multiple significant industry players and rising R&D expenditures. The US and Canadian governments have increased their efforts to promote market expansion. Cancer treatment choices have increased thanks to the personalized Onco-Genomics program of the BC Cancer Foundation. As a result, North America is expected to have the highest revenue estimate among the other countries, with a share of around 44.3%.
Asia Pacific, on the other hand, has been showing a promising growth rate. Due to the rising customer base, international businesses are strategically extending their operations.
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