Global DNA Sequencing Market Size & CAGR (2021 to 2026)
From 2021 to 2026, the global DNA sequencing market is expected to grow at a CAGR of 14.2%. By 2026, the market is expected to be worth USD 11.14 billion, up from USD 5.73 billion in 2021.
Impact of COVID-19 on the global DNA sequencing market:
The pandemic of COVID-19 has had a beneficial impact on the global DNA sequencing market, as it has increased demand for DNA sequencing technology in the development of treatments and diagnostics. Furthermore, particularly in the time of the COVID-19 pandemic, NGS technology is growing rapidly as a standard clinical diagnostic tool, boosting the industry’s revenue share. The demand for these technologies in large-scale, rapid genome sequencing programs to monitor the viral spread and guide future therapies has risen exponentially as the number of COVID-19 cases has increased. As a result, developments in DNA sequencing technology are helping to propel the industry forward. Because of its high efficiency and accuracy, next-generation sequencing technology has been increasingly used in infection diagnoses since the COVID-19 pandemic.
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KEY DRIVING FACTORS:
Y-O-Y growth in the prevalence of cancer & the growing number of technological advancements is majorly accelerating the growth rate of the global DNA sequencing market.
DNA variants can now be identified because of rapid advances in sequencing technology and analytics. These advancements also identify variations linked to an increased risk of disease. In addition, many genes can be tested in a single diagnostic platform simultaneously due to the widespread use of Next-generation Sequencing (NGS) and Whole-genome Sequencing (WGS), which increases the utility of DNA sequencing in clinical diagnosis applications. The rise in cancer incidence over the last few years has been a primary driving force in the growth of this industry. Furthermore, technological advancements and the growing use of DNA sequencing for animal and plant reproduction are helping to expand this market.
High costs associated and other limitations are primarily restricting the expansion of the global DNA sequencing market.
When it comes to diagnostic testing, DNA sequencing technology has some restrictions. This has a significant impact on the market’s growth. Expensive technology, computational issues, duplicate material, expert experience, and ethical considerations are only a few of the obstacles to the growth of the DNA sequencing market.
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KEY MARKET INSIGHTS:
- Based on the product & service, the consumables segment led the global DNA sequencing market in 2020. The segment’s growth is majorly driven by the widespread availability of reagents and kits for all stages of library development, including DNA fragmentation, enrichment, adaptor ligation, amplification, and quality control. In addition, the majority of these tools include streamlined and simplified workflows, ready-to-use components, and specimen compatibility with low-input and formalin-fixed tissues.
- Based on the technology, next-generation sequencing (NGS) led the DNA sequencing market of total revenue. Genome sequencing has become faster, more inexpensive, and more precise due to substantial advancements in these technologies and the dropping cost of sequencing. Furthermore, NGS technology is becoming more popular as a standard clinical diagnostic test, especially in light of the COVID-19 pandemic, which enhances the segment’s revenue share.
- Based on the workflow, Sequencing is the most crucial segment in the entire workflow. This phase allows for genome sequence profiling as well as DNA-protein interactions. It is a vital part of the total DNA sequencing procedure in research and discovery investigations, accounting for a higher share. Sequencers’ ability to generate enormous amounts of data in a short amount of time accelerates our understanding of human health and disease treatments.
- Based on the application, Oncology dominated the DNA sequencing market in 2020, accounting for the highest revenue. Clinical research and the development of cancer diagnostics and treatments have a lot of potential with this technology. Recently, NGS technology has proved its ability to identify and characterize clinically relevant genetic variations across several genes at an unprecedented speed in a single test, demonstrating its capabilities as a high-throughput and expense technique.
- Based on the End-User, Due to the widespread use of Sanger technology and NGS in academic and institutional research initiatives, the academic research segment dominated the market for DNA sequencing. Furthermore, these companies’ increased finance and investment activities boost demand for DNA sequencing products, resulting in a higher revenue share.
- Based on the region, North America dominated the global DNA sequencing market in 2020. North America has the largest share of the DNA sequencing market due to ongoing technological developments by key companies, significant R&D investment, and the availability of technologically advanced healthcare infrastructure. In addition, several government initiatives in the United States and Canada encourage the development of cancer drugs and therapies.
- Key companies in the market include Abbott Laboratories, Danaher Corporation (Beckman Coulter, Inc.), Illumina, Inc., Agilent Technologies, Inc., Pacific Biosciences of California, Inc., SIEMENS AG, PerkinElmer Inc., LI-COR Biosciences, Inc., and Thermo Fisher Scientific, Inc. This industry is attempting to expand consumer demand by investing heavily in production, distribution, and comprehensive quality control to expand its product lines.
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RECENT MARKET DEVELOPMENTS:
- Illumina Inc. and Harvard Pilgrim Health Care announced a risk-sharing agreement in December 2020, with whole-genome sequencing (WGS) becoming available to some Harvard Pilgrim members in January 2021.
- The Ion Torrent Genexus System, introduced by Thermo Fisher Scientific in November 2019, is the first fully-integrated next-generation sequencing (NGS) platform with an automated specimen-to-report workflow that provides results in a single day.
- Face2Gene LABS was launched in June 2019 by PerkinElmer and FDNA, an artificial intelligence startup, to provide genomic services in conjunction with Next-Generation Phenotyping (NGP) technologies for more accurate and efficient diagnosis.
SEGMENTS COVERED IN THIS REPORT:
By Product & Services:
- 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
- Data Analysis
- Reproductive Health
- Clinical Investigation
- Agri genomics & Forensics
- HLA Typing/Immune System Monitoring
- Metagenomics, Epidemiology & Drug Development
- Consumer Genomics
- Academic Research
- Clinical Research
- Hospitals & Clinics
- Pharmaceutical & Biotechnology Companies
- Other Users
- North America
- Latin America
- Middle East and Africa
BROWSE REGIONAL REPORTS:
- United States DNA Sequencing Market
- Europe DNA Sequencing Market
- APAC DNA Sequencing Market
- Latin America DNA Sequencing Market
- MEA DNA Sequencing Market
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