New York, Dec. 16, 2024 (GLOBE NEWSWIRE) -- Market Overview
Global DNA Sequencing Market is forecasted to reach USD 16.0 billion by the end of 2024 and grow to USD 97.8 billion in 2033, with a CAGR of 22.3%.
DNA sequencing is a laboratory method that is used to provide the exact order of nucleotides in a DNA molecule, the building blocks that constitute DNA. In these building blocks, they include a sugar, a phosphate group, & a nitrogenous base. Determining the sequence of these bases is important for genetic purposes, evolutionary biology, and customized medicine among other biological and medical uses.
The process starts with the extraction of DNA from the cells of an organism, followed by amplification, such as by polymerase chain reaction (PCR) methods, to get enough material for analysis. This involves the fragmentation of DNA fragments that are labeled with tags or markers.
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The US DNA Sequencing Market
The US DNA Sequencing Market is projected to reach USD 7.0 billion by the end of 2024 and grow substantially to an expected USD 38.8 billion market by 2033 at an anticipated CAGR of 20.9%.
The US DNA Sequencing Market is driven by its advanced research in genomics, oncology, and whole-genome studies. The broad adoption of DNA sequencing technology in the country includes a well-developed research and medical infrastructure, substantial funding, and a skilled workforce. It improves the research method for discovering new diagnostic and therapeutic technologies.
Next-generation sequencing (NGS) continues to gain traction due to its high throughput, cost-effectiveness, & speed compared to traditional sequencing methods which allow detailed genomic analyses, including whole-genome sequencing, & targeted sequencing.
Important Insights
- Market Growth: The global DNA Sequencing market is expected to reach USD 97.8 billion by 2033, with a compound annual growth rate (CAGR) of 22.3%.
- Product and Services Analysis: By 2024, consumables are projected to hold the largest revenue share at 50.2% within the product and services segment.
- Technology Analysis: Next-generation sequencing is anticipated to represent the largest share of revenue at 89.2% based on technology by 2024.
- Workflow Analysis: Sequencing is expected to dominate the market, capturing the highest revenue share of 58.2% based on workflow by 2024.
- Application Analysis: Oncology is forecasted to lead the market in applications, holding a substantial revenue share of 28.1% in 2024.
- End User Analysis: Academic research is predicted to be the dominant end user, with a significant market share of 52.5% in 2024.
- Regional Analysis: North America is predicted to dominate the global DNA sequencing market with a revenue share of 52.2% in 2024.
Latest Trends
- Growing Applications in Healthcare: Expanding uses of DNA sequencing in oncology, genetic disorders, and personalized medicine enhance patient care through tailored treatments and risk predictions.
- Increased Adoption of Bioinformatics: The rising need for bioinformatics tools and software is crucial for analyzing and interpreting vast genomic datasets, enabling meaningful insights.
Competitive Landscape
- Key Players: Major companies include Illumina, Thermo Fisher Scientific, QIAGEN, and BGI Genomics, focusing on R&D and expanding services.
- Strategic Movements: Companies engage in mergers, acquisitions, and partnerships to enhance capabilities, while emerging startups introduce innovative technologies, increasing market competition.
Some of the prominent market players:
- Thermo Fisher Scientific, Inc
- Agilent Technology
- Illumina, Inc.
- QIAGEN
- Hoffmann-La Roche Ltd.
- Macrogen, Inc.
- PerkinElmer Genomics
- PacBio
- BGI
- Bio-Rad Laboratories, Inc.
- Other Key Players
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DNA Sequencing Market Scope
| Report Highlights | Details |
| Market Size (2023) | USD 16.0 Bn |
| Forecast Value (2032) | USD 97.8 Bn |
| CAGR (2023-2032) | 22.3% |
| The US Market Size (2024) | USD 7.0 Bn |
| Leading Region in terms of Revenue Share | North America |
| Percentage of Revenue Share by Leading Region | 52.2% |
| Historical Data | 2018 - 2023 |
| Forecast Data | 2025 - 2033 |
| Base Year | 2023 |
| Estimate Year | 2024 |
| Segments Covered | By Product & Services, By Technology, By Workflow, By Application, By End User |
| Regional Coverage | North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
Market Analysis
Oncology is likely to drive the DNA sequencing market, holding a 28.1% share by 2024, as it is frequently used for cancer research, diagnostics, and treatment. DNA sequencing has revolutionized oncology by identifying specific genetic mutations that predispose different kinds of cancers in individuals. It facilitates the creation of targeted therapies, which are far more effective and personalized compared to conventional treatments.
Cancer genome sequencing will provide clinicians with an understanding of the biology of the tumors, the detection of mutations responsible for driving the progression of cancer, and biomarkers that will inform treatment decisions, such as optimum chemotherapy or immunotherapy available to a patient. As precision medicine is gaining momentum, cancers are subjected to various forms of treatment regarding the genetic makeup of a patient.
DNA Sequencing Market Segmentation
By Product & Services
- Consumables
- Services
- Instruments
By Technology
- Sanger Sequencing
- Next-Generation Sequencing
- Whole Genome Sequencing (WGS)
- Whole Exome Sequencing (WES)
- Targeted Sequencing & Resequencing
- Third Generation DNA Sequencing
- Single-Molecule Real-Time Sequencing (SMRT)
- Nanopore Sequencing
By Workflow
- Sequencing
- Data Analysis
- Pre-sequencing
By Application
- Oncology
- Consumer Genomics
- Reproductive Health
- Clinical Investigation
- Agri-genomics & Forensics
- HLA Typing/Immune System Monitoring
- Others
By End-Use
- Academic Research
- Clinical Research
- Hospitals & Clinics
- Pharmaceutical & Biotechnology Companies
- Others
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Drivers
- Growing Focus on Personalized Therapy: Increasing demand for tailored treatments based on genetic data, especially in cancer, enhances treatment success and minimizes side effects.
- Technological Advancements: Innovations in third-generation and next-generation sequencing technologies reduce costs and improve throughput and accuracy, democratizing access to sequencing.
Restraints
- Costly Infrastructure and Resource Requirements: High costs associated with sequencing technology and infrastructure create barriers, particularly for institutions in low-income regions.
- Difficulties with Data Management: The large volume and complexity of genomic data require advanced bioinformatics tools for effective analysis, presenting challenges in data processing and storage.
Opportunities
- Rising Investments in Genomic Research: Increased funding from public and private sectors fosters collaborations that drive innovation in sequencing technologies and advanced research facilities.
- Emergence of Point-of-Care Testing: Demand for rapid, convenient diagnosis at patient care sites promotes opportunities for portable sequencing devices and timely treatment decisions.
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Regional Analysis
North America is expected to create a leading revenue share of 52.2% in the DNA sequencing market by 2024, likely because it has a well-established research infrastructure and massive investments in the biotechnology and genomic research conducted within the region.
The private sector, like the National Institutes of Health & the U.S. government itself, funds large-scale genomic projects, including the Human Genome Project, among other initiatives in precision medicine and personalized healthcare. It is also a hub for many leading biotechnology & pharmaceutical companies that are playing a critical role in driving market growth.
By Region
North America
- The U.S.
- Canada
Europe
- Germany
- The U.K.
- France
- Italy
- Russia
- Spain
- Benelux
- Nordic
- Rest of Europe
Asia-Pacific
- China
- Japan
- South Korea
- India
- ANZ
- ASEAN
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of Latin America
Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Egypt
- Rest of MEA
Recent Developments
- November 2023: Illumina, Inc. introduced its Global Health Access Initiative, aimed at improving access to public health sequencing tools in low- and middle-income countries.
- August 2023: PacBio announced its decision to acquire Apton Biosystems, a move expected to accelerate the development of short-read sequencing technology, thereby driving market growth.
- August 2023: PacBio revealed a research collaboration with the University of Washington to assess the capabilities of HiFi long-read whole genome sequencing (WGS), which is anticipated to enhance analytical rates in individuals with various genetic disorders.
- June 2023: Illumina, Inc. launched PrimateAI-3D, an innovative AI software designed to accurately predict disease-causing genetic mutations, increasing demand for products that help understand genetic profiles.
- January 2023: QIAGEN announced a partnership with Helix to create next-generation sequencing (NGS) companion diagnostics for several hereditary conditions.
- August 202: PacBio and GeneDx teamed up with the University of Washington for a research project focused on improving diagnostic outcomes in neonatal care through long-read whole genome sequencing. These initiatives are expected to bolster growth in the sector.
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