DNA Sequencing Market Size to Reach USD 12.55 Billion in 2028 | Technological advancements in DNA sequencing, improvement in healthcare infrastructure and research facilities, and increasing investments in R&D activities are key factors fueling global market growth, Reports and Data
NEW YORK, Jan. 24, 2022 /PRNewswire/ -- The global DNA sequencing market is expected to reach USD 12.55 Billion in 2028 and register a revenue CAGR of 11.3% over the forecast period, according to latest report published by Reports and Data. Key factors driving global market revenue growth include rising demand for personalized medicine, favorable government initiatives, and ongoing research on drug delivery.
DNA sequencing is a commonly used technique to determine nucleotide sequence of a DNA, and it plays a pivotal role in mapping human genome. Over the years, various sequencing methods such as Sanger sequencing, next-generation sequencing, and third generation sequencing have been widely used to determine genome sequencing in less time and in a cost-effective manner. One of the key factors driving global market growth is declining costs of genome sequencing and rapid advancements in next-generation sequencing platforms. In addition, DNA sequencing is widely used in applications such as biomarker discovery, reproductive health, agrigenomics, forensics, and HLA typing, among others.
Revenue growth of the global market is increasing significantly owing to growing research on cancer and cancer treatment, rising demand for easy and quick clinical diagnosis, and availability of funds from public and private sectors. Additionally, various market players are heavily investing in developing enhanced, cost-effective consumables and portable sequencing technologies. This is providing a major thrust to the global market. However, factors such as high initial investments, costly reagents and kits, and dearth of skilled professionals to operate advanced equipment and interpret genomic data are expected to hamper overall market growth to a certain extent during the forecast period.
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Some Key Highlights from the Report:
- Among DNA sequencing technologies, the third-generation sequencing segment is expected to register rapid revenue CAGR over the forecast period owing to increasing adoption of nanopore and single-molecule real-time sequencing due to easy and quick gene amplification and their ability to produce longer reads than second-generation sequencing.
- Based on end-use, the academic research segment is expected to account for significant revenue share over the forecast period. This can be attributed to increasing healthcare expenditure, growing numbers of research and academic institutes, rising funding for research and drug discovery, and increasing collaborations among leading companies and research institutes.
- North America is expected to account for largest revenue share in the global market during the forecast period owing to rising incidence of cancer, increasing research and development activities, presence of well-developed healthcare and research facilities, availability of well-trained laboratory technicians, and increasing demand for personalized medicine. In addition, increasing investments in drug discovery and availability of advanced consumables and equipment are expected to fuel growth of the North American market.
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- The Asia-Pacific market is expected to register fastest revenue CAGR over the forecast period due to increasing prevalence of chronic diseases, improving healthcare infrastructure and research facilities, rising adoption of advanced sequencing processes, increasing demand for genetic testing, and growing investments for developing enhanced and cost-effective products.
- 23andMe, Oxford Nanopore Technologies Ltd., Precise.ly, 54Gene, Guardant Health, Allogene Therapeutics, Pacific Biosciences, CardioDx, Helix, Human Longevity, Foundation Medicine, Freenome, Veritas Genetics, Agilent Technologies, Inc., Thermo Fisher Scientific, Inc., Illumina, Inc., Pacific Biosciences of California, Inc., QIAGEN, F. Hoffmann-La Roche Ltd., Macrogen, Inc., Perkin Elmer, Inc., BGI, Bio-Rad Laboratories, Inc., Myriad Genetics, PierianDx, Eurofins Scientific, and Intrexon Bioinformatics Germany GmbH are some key companies operating in the global DNA sequencing market.
To identify the key trends in the industry, research study at https://www.reportsanddata.com/report-detail/dna-sequencing-market
For this report, Reports and Data has segmented the global DNA sequencing market on the basis of products & services, technology, application, end-use, and region:
Product & Services Outlook (Revenue, USD Billion, 2018-2028)
- Consumables
- Instruments
- Services
Technology Outlook (Revenue, USD Billion, 2018-2028)
- 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
Application Outlook (Revenue, USD Billion, 2018-2028)
- Oncology
- Reproductive Health
- Clinical Investigation
- Agrigenomics & Forensics
- HLA Typing/Immune System Monitoring
- Metagenomics, Epidemiology & Drug Development
- Consumer Genomics
- Others
End-Use Outlook (Revenue, USD Billion, 2018-2028)
- Academic Research
- Clinical Research
- Hospitals & Clinics
- Pharmaceutical & Biotechnology Companies
- Others
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Regional Outlook (Revenue, USD Billion, 2018-2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Sweden
- Benelux
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Rest of MEA
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