Increasing Advancement in Sequencing Technologies to Drive DNA Sequencing Market Growth at USD 44 Billion by 2031 |SkyQuest Technology
Westford, USA, Oct. 03, 2024 (GLOBE NEWSWIRE) -- Global DNA Sequencing Market size was valued at USD 12.29 billion in 2023 to USD 44 billion by 2031, growing at a CAGR of 17.12% in the forecast period (2024-2031).
Advanced technology and bioinformatics have allowed to detect different DNA variations. These developments have also helped to identify variations that are connected to a higher risk disease. The usage of next-gen and whole-genome sequencing in clinical diagnosis applications is also widening the options for DNA sequencing. Such advancements are immensely contributing to the growth of the market. Furthermore, the constant innovations of sequencing technologies can change the field of genomics and has a huge influence in the medical sector. Technological advancement is important because it brings improvement in the speed of sequencing. There are many NGS platform that have immensely increased the speed at which genetic information are decoded. These platforms use parallel processing, which allows analysis of several DNA fragments at the same time. This increase in speed have helped researchers and clinicians to process massive amount of genomic data more efficiently. The growing interest in genomics research and personalized medicine is helping in the expansion and progression of the DNA sequencing market.
Browse in-depth TOC on the "DNA Sequencing Market"
- Pages - 165
- Tables - 126
- Figures – 77
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DNA Sequencing Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | $ 12.29 Billion |
| Estimated Value by 2031 | $ 44 Billion |
| Growth Rate | Poised to grow at a CAGR of 17.12 % |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, Application, Technology, End User, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
| Report Highlights | Increasing popularity of Next-Gen DNA sequencing |
| Key Market Opportunities | Increasing collaborations among market players |
| Key Market Drivers | Increasing advancement in DNA sequencing |
DNA Sequencing Market Segmental Analysis
Global DNA Sequencing Market is segmented based on Product, Application, Technology, End User, and Region.
Based on Product the DNA Sequencing Market is further sub segmented into Consumable, Instrument, and Service.
Based on Application the DNA Sequencing Market is further sub-segmented into Biomarkers and Cancer, Diagnostics, Reproductive Health, Personalized Medicine, Forensics, and Others.
Based on Technology the DNA Sequencing Market is further sub segmented into Sequencing by Synthesis, Ion Semiconductor Sequencing, Sequencing by Ligation, Pyrosequencing, Single Molecule Real-time Sequencing, Chain Termination Sequencing, and Nanopore Sequencing.
Based on End User the DNA Sequencing Market is further sub segmented into Academic & Government Research Institutes, Pharmaceutical Companies, Biotechnology Companies, and Hospitals & Clinics.
Based on Region, the DNA Sequencing Market is further sub-segments into North America, Europe, Asia Pacific, Latin America, and MEA.
Growing Incidences of Cancer to Increase Demand for DNA Sequencing
The increasing prevalence of inherited cancers is immensely growing the demand for cancer genomics. The understanding of the human genome was mainly focused on utilizing various gene therapies for treating cancers. This is being done by utilizing advanced gene editing methods like CRISPR-Cas gene technology. Furthermore, a group of researchers at the University of California created applications for precision genome editing agents. These agents can efficiently manage inherited retinal diseases (IRDs). These factors are boosting the growth for DNA sequencing market.
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Increasing Adoption of Next-Gen DNA Sequencing to Enhance Genomic Research
The increasing adoption of next-generation sequencing is immensely improving the growth of the market in the field of genomics. NGS technologies are helping in sequencing numerous DNA fragments all at the same time. This ability of the sequencing has advanced the genomic research and clinical applications by enhancing the understanding of genetic variations and gene functions. These technologies have become more available and cost-efficient, which is supporting increasing adoption of several scientific and medical disciplines.
Increasing Investment in R&D to Improve Treatments to Boost Market Growth in North America
North America is dominating the DNA sequencing the market owing to various factors, like constant technological development and increasing R&D investment. The accessibility of technologically advanced medical infrastructure is also boosting the growth of the market in the region. Furthermore, many government facilities in countries like US and Canada are also supporting research on cancer treatments and medication development, which is positively influencing the market growth. These countries are also experiencing rapid advancement in the biotechnology sectors, which is helping in creating more treatments and diagnostics, fueling the progression of the DNA sequencing market.
DNA Sequencing Market Insights
Drivers
- Advancements in DNA sequencing
- Increasing incidences of cancer
- Growing number of collaborations among market players
Restraints
- Lack of knowledge about genome sequencing
- High expense of DNA sequencing
- Growing concern about data privacy
Key Players Operating in DNA Sequencing Market
- Illumina, Inc.
- Thermo Fisher Scientific, Inc.
- Pacific Biosciences of California Inc.
- BGI Group
- Oxford Nanopore Technologies Ltd.
- Qiagen N.V.
- F. Hoffmann-La Roche Ltd.
- PerkinElmer Inc.
- Agilent Technologies, Inc.
- Eurofins Scientific SE
- Zymo Research Corp.
- Hamilton Company
- Genewiz Inc.
- Macrogen Inc.
- DNASTAR Inc.
- GENEWORLD
- Bio-Rad Laboratories Inc.
- BioChain Institute Inc.
- Beckman Coulter Inc.
- Novogene Corporation
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Key Questions Answered in the DNA Sequencing Market Report
- Who are the key players in the DNA sequencing market?
- What are the factors driving the DNA sequencing market?
- What are the latest trends in the DNA sequencing market?
This report provides the following insights:
Analysis of key drivers (Growing prevalence of cancer), restraints (Lack of knowledge about genome sequencing), opportunities (Rapid advancement in DNA sequencing), and challenges (Growing concern about data privacy) influencing the growth of DNA sequencing market
- Market Penetration: Comprehensive information on the product offered by the top players in the DNA sequencing market
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the DNA sequencing market
- Market Development: Comprehensive information on emerging regions
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market
- Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
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