DNA Sequencing Market size to grow by USD 10.69 billion from 2022 to 2027, North America to account for 37% of market growth - Technavio

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Sep 22, 2023, 03:35 ET

NEW YORK, Sept. 22, 2023 /PRNewswire/ -- The DNA sequencing market size is expected to grow by USD 10.69 billion from 2022 to 2027. In addition, the momentum of the market will progress at a CAGR of 15.52% during the forecast period, according to Technavio Research. The market has been segmented by end-users (Academic research, Clinical research, Hospitals & clinics, and Pharmaceutical & biotechnology comp.), solutions (products and services), and Geography (North America, Europe, Asia, and Rest of World (ROW)). North America is estimated to contribute 37% to the growth of the global market during the forecast period. In 2022, North America held the dominant market share and is poised to maintain its leadership position throughout the projected period. This can be attributed to several factors, including the increasing prevalence of chronic diseases, a growing healthcare expenditure, and the presence of numerous key industry players in the region. The US and Canada serve as headquarters for several prominent biotechnology and life sciences companies. Furthermore, the demand for DNA sequencing for pharmaceutical research in North America is strengthened by a substantial volume of research activities. DNA sequencing reagents find extensive applications in clinical trials, aiding in the identification of potential genomic drug targets and the assessment of the safety and effectiveness of innovative therapies. Consequently, the extensive number of clinical trials conducted in the US will further drive the demand for DNA sequencing in the region. This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. Read Free PDF Sample Report

Technavio has announced its latest market research report titled Global DNA Sequencing Market 2023-2027

Company Profile:

10X Genomics Inc., Abbott Laboratories, Agilent Technologies Inc., Azenta Inc., Becton Dickinson and Co., BGI Genomics Co. Ltd., Bio Rad Laboratories Inc., Danaher Corp., Eurofins Scientific SE, F. Hoffmann La Roche Ltd., Illumina Inc., Laboratory Corp. of America Holdings, Macrogen Inc., Merck KGaA, Pacific Biosciences of California Inc., PerkinElmer Inc., QIAGEN NV, SeqLL Inc., Tecan Trading AG, and Thermo Fisher Scientific Inc.

10X Genomics Inc. - The company offers DNA sequencing such as Linked Reads genomics which provides contextual information about the genome from short reads.

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DNA Sequencing Market: Segmentation Analysis

The market has been segmented by end-user (Academic research, Clinical research, Hospitals & clinics, and Pharmaceutical & biotechnology comp.), solution (products and services), and Geography (North America, Europe, Asia, and Rest of World (ROW)).

The market share growth by the academic research segment will be significant during the forecast period. In 2022, the academic research sector emerged as the dominant player in the global DNA sequencing market. The growth of this segment is propelled by several factors, notably a strong interest in pioneering DNA sequencing work and government support. Genome sequencing projects yield invaluable high-quality data, enabling researchers to identify new targets for drug development and gain deeper insights into the mechanisms underlying human diseases. The escalating demand for higher-resolution DNA sequencing is projected to drive further expansion in university research activities, consequently fostering the growth of the global DNA sequencing market during the forecast period.

Learn about the contribution of each segment summarized in concise infographics and thorough descriptions. View a Free PDF Sample Report

"Besides analyzing the current market scenario, our report examines historic data from 2017 to 2021"- Technavio

DNA Sequencing Market: Driver & Trend:

The growing adoption of NGS is driving growth in the DNA sequencing market. Next-generation sequencing has revolutionized genomic research through its capability for massively parallel DNA sequencing, enabling the sequencing of the entire human genome within a single day. This technology is increasingly employed in the diagnosis and treatment of prevalent chronic diseases like cancer and infectious diseases. NGS excels at effectively detecting sequence variations and providing a multitude of genetic markers, encompassing both common and rare variants, further stimulating its uptake. The simultaneous DNA sequencing capability, facilitating earlier diagnosis and detection, stands as a driving force behind the growing adoption of NGS. The extensive utilization of NGS in DNA sequencing, coupled with its increasing acceptance among end-users, is poised to propel the expansion of the global DNA sequencing market during the forecast period.

The automation of DNA Sequencing is an emerging trend shaping the market growth.
Strategic alliances among market vendors are a key trend in the DNA sequencing market. Identify key trends, drivers, and challenges in the market. Download a sample report to gain access to this information.

What are the key data covered in this DNA sequencing market report?

CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the DNA sequencing market between 2022 and 2027.
Precise estimation of the DNA sequencing market size and its contribution to the market in focus on the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
Growth of the market across North America, Europe, Asia, and ROW
A thorough analysis of the market's competitive landscape and detailed information about vendors
Comprehensive analysis of factors that will challenge the growth of DNA sequencing market vendors.

Related Reports:

The bioinformatics market size is estimated to grow at a CAGR of 13% between 2022 and 2027. The market size is forecast to increase by USD 8,535.52 million. This report extensively covers market segmentation by Application (molecular phylogenetics, transcriptomic, proteomics, and metabolomics), Product (platforms, tools, and services), and Geography (North America, Europe, Asia, and Rest of World (ROW)). Reduction in the cost of genetic sequencing notably drives the market growth during the forecast period.

The sequencing reagents market share is expected to increase by USD 4.09 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 12.32%. This report extensively covers sequencing reagents market segmentation by technology (next-generation sequencing, sanger sequencing, and third-generation sequencing) and geography (North America, Europe, Asia, and Rest of World (ROW)). The increasing affordability of DNA sequencing is one of the key drivers supporting the sequencing reagents market growth.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by End-user

Market Segmentation by Solution

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio