DNA Sequencing Market Forecasts to 2030 – Global Analysis By Product (Consumables, Instruments and Services), Technology (Next-Generation, Sequencing, Third Generation DNA Sequencing and Other Technologies), Application, End User and By Geography

DNA Sequencing Market Forecasts to 2030 – Global Analysis By Product (Consumables, Instruments and Services), Technology (Next-Generation, Sequencing, Third Generation DNA Sequencing and Other Technologies), Application, End User and By Geography

According to Stratistics MRC, the Global DNA Sequencing Market is accounted for $12.5 billion in 2023 and is expected to reach $42.5 billion by 2030 growing at a CAGR of 19.1% during the forecast period. DNA sequencing is a procedure that uses extensive parallelization to sequence different DNA strands. The advantages of DNA sequencing over microarray and other genetic analysis techniques include cheaper cost, higher accuracy and speed, and reliable results even with small sample input, applications for DNA sequencing include the identification of biomarkers, oncology research, individualized healthcare, forensics, and others.

According to National Human Genome Research Institute, due to continuous innovations, the cost of NGS per genome is USD 562, and the cost of NGS per megabase is USD 0.006 in August 2021.

Market Dynamics

Driver

Rising demand in genome sequencing

Genome sequencing is in greater demand in the DNA sequencing industry due to its transformational effects across a number of fields. Additionally, a rise in clinical applications is being caused by the necessity of genome sequencing in genetic diagnostics, customized medicine, and cancer research. Furthermore, the need for genome sequencing is anticipated to increase as genomics continues to shed light on the mechanisms underlying disease and potential treatments. Thus, this will encourage new product development and market expansion for DNA sequencing.

Restraint

High cost

The high cost of DNA sequencing technologies is a key market obstacle. Equipment, consumables, and data processing are included in these costs, which frequently make sequencing efforts financially burdensome. Additionally, sequencing programs require huge amounts of cash from research institutions, clinical laboratories, and healthcare facilities, particularly in environments with limited resources, high expenses can restrict access to cutting-edge sequencing techniques and deter widespread adoption. Therefore, hampers the market expansion.

Opportunity

Technological Advancements in DNA Sequencing

Genomic research and clinical applications have undergone a revolution due to technological developments in DNA sequencing. Additionally, high-throughput sequencing is made possible by next-generation sequencing (NGS) technologies from companies like Illumina and Oxford Nanopore. Moreover, because of the developments, large-scale genomic studies it has become more affordable, and data gathering has been speed up. The accuracy of DNA sequencing has increased because of single-molecule sequencing and long-read technologies, which also make it easier to analyze complex genomic areas. Furthermore, this has increased the accessibility and effect of genomics by enabling researchers and clinicians to conduct sequencing activities in a variety of contexts, from rural locations to clinical facilities. Therefore, these factors significantly have driven the market expansion.

Threat

Risks associated with privacy and data analysis

The market for DNA sequencing has been hampered by privacy issues, as the use of genetic testing increases, people and organizations express concern about the security and potential abuse of highly sensitive genetic data. Additionally, this has made people hesitant to take part in genetic research and share information with healthcare professionals, which has slowed the development of genomics research and therapeutic applications. Furthermore, modern sequencing technologies create enormous amounts of data, which poses substantial computing and data analytic obstacles and hampers effective interpretation and utilization.

Covid-19 Impact

The market for DNA sequencing was negatively impacted by the COVID-19 epidemic. The pandemic impacted sequencing initiatives and research funding for non-pandemic projects by disrupting the supply chain, limiting laboratory access, and creating financial restrictions in healthcare institutions. Despite these challenges, the pandemic accelerated the adoption of sequencing for the research of infectious diseases, which gradually restrained market expansion.

The consumables segment is expected to be the largest during the forecast period

The consumables segment is estimated to hold the largest share, due to the widespread availability of reagents and kits for all library construction phases, including DNA fragmentation, enrichment, adapter ligation, amplification, and quality control. Additionally, this includes consumables used for sample preparation and analysis, flow cells, primers, buffers, and sequencing reagents. Consumables are essential to the sequencing workflow because they guarantee the precision and effectiveness of DNA sequencing. Therefore, the consumables industry provides manufacturers with a crucial and consistent source of income and is essential to the advancement of genomics research, clinical diagnostics, and customized medicine.

The next-generation sequencing segment is expected to have the highest CAGR during the forecast period

The next-generation sequencing segment is anticipated to have lucrative growth during the forecast period, due to its capacity to produce high-quality sequence data at affordable prices, NGS has become the predominant sequencing methodology. Furthermore, NGS has been shown to be more accurate than conventional sequencing techniques, making it appropriate for uses like cancer detection and genomics research. Moreover, massively parallel sequencers called next-generation sequencing (NGS) systems can produce a lot of data in a short amount of time. Therefore, due to its excellent accuracy and detection capacities, next-generation sequencing technology is anticipated to gain a greater market share.

Region with largest share

Asia Pacific commanded the largest market share during the extrapolated period due to the active participation of the region's economies. Additionally, many nations in the region have started large-scale genomics initiatives and research plans. Examples of significant initiatives encouraging genomics applications in healthcare include Japan's ""Japanese Genomic Medicine Program"" and China's ""Precision Medicine Initiative"". Furthermore, governmental funding and partnerships with business titans are also encouraging innovation in the sector. The enormous population of the Asia-Pacific area creates a sizable market for genetic testing and tailored medicine. Thus, as a result, the area is gradually becoming a focus for genomics research and the expansion of the DNA sequencing sector.

Region with highest CAGR

Europe is expected to witness highest CAGR over the projection period. The area benefits from a vibrant scientific community, esteemed research institutions, and a friendly regulatory environment that promotes creativity and financial investment in genomics research. Additionally, the demand for genomic applications in personalized medicine, genetic diagnostics, and pharmacogenomics has increased as a result of significant investments made in healthcare in European nations. Furthermore, large-scale genomics initiatives are encouraged by international cooperation, which raises the region's competitiveness. Therefore, the universal healthcare systems in Europe make it easier to incorporate genomic data into clinical practice, which stimulates market expansion.

Key players in the market

Some of the key players in the DNA Sequencing Market include Agilent Technologies Inc., Pacific Biosciences of California Inc., Hamilton Thorne Biosciences, Bio-Rad Laboratories Inc., Danaher Corporation, Hoffmann-La Roche Ltd, Illumina Inc., Merck KGaA, Qiagen, PerkinElmer Inc., Macrogen Inc., Myriad Genetics Inc. and Eurofins Scientific.

Key Developments

In March 2023, llumina Inc. a global leader in DNA sequencing and array-based technologies, announced that its first product based on its novel Illumina Complete Long Read technology is now available to order.

In September 2022, Illumina, Inc. announced the launch of the NovaSeq™ X Series (NovaSeq X and NovaSeq X Plus), new production-scale sequencers that will push the limits of what is possible with genomic medicine, enabling faster, more powerful, and more sustainable sequencing.

In January 2019, NRGene and Macrogen Corp announced the launch of a joint sequencing-based genotyping service, ArrayMAGIC, at the Plant and Animal Genome (PAG) conference in San Diego.

Products Covered
• Consumables
• Instruments
• Services

Technologies Covered
• Next-Generation Sequencing
• Third Generation DNA Sequencing
• Other Technologies

Applications Covered
• Oncology
• Clinical Investigation
• Forensics & Agrigenomics
• Human Leukocyte Antigen (HLA) Typing
• Reproductive Health
• Other Applications

End Users Covered
• Academic Research
• Clinical Research
• Biotechnology & Pharmaceutical Companies
• Hospitals & Clinics
• Other End Users

Regions Covered
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements