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The global DNA sequencing market size is estimated to grow by USD 10,690.39 million at a CAGR of 15.52% between 2022 and 2027.
Cost serves as a major factor in any market. Due to numerous advances in technology, the global DNA sequencing market has seen a significant drop in cost over the past few years. The NHGRI has gathered a lot of information on DNA sequencing costs for many years through the sequencing centers funded by the Institute. The NHGRI has been able to analyze and summarise the information obtained, which enables an assessment of advances in DNA genotyping technology. In the past, the cost structure for DNA sequencing involved a lot of ambiguity, which left it unclear whether the cost included any of the steps to sequence or just a sequencing run. Thus, as a solution to this problem, a new all-inclusive approach was developed. This approach gives better insights into the cost structure of a prioritizing project and aids end-users and funding agencies in improving their research plans.
Technavio has segmented the market into End-user, Solution, and Geography
It also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historic data from 2017 to 2021, besides analyzing the current market scenario.
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Academic Research
The market share growth by the academic research segment will be significant during the forecast period. Academic research held the largest market share in the global DNA sequencing market in 2022. The evolution of the academic research segment is being driven by factors including high interest in innovative work in DNA sequencing and the government.
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The academic research segment was valued at USD 2,892.01 million in 2017. High-quality data generated from genome sequencing projects helps researchers to find novel targets for drug development and a better understanding of human disease pathogenesis. The increased demand for higher-resolution DNA sequences is expected to propel the university research sector, which, in turn, will fuel the growth of the global DNA sequencing market during the forecast period.
Products
The products segment held the largest market share in 2022 in terms of market segmentation by solutions due to the increasing demand for consumables in academic organizations and research centers and their expanding use in a wide range of genetic testing procedures. Based on products, the market can be divided into consumables and instruments. In 2022, the consumables segment held the largest market share among products. For studies on epigenetics and chronic disease, DNA sequencing consumables are used for various purposes, including sample preparation as well as the production of sequence libraries. The introduction of user-friendly tools, such as portable DNA sequencers, and the fast-growing volume of genomics-based R&D enterprises, are driving the sales of these instruments. Due to these factors, the products segment is expected to retain its leading position in the global DNA sequencing market during the forecast period.
Services
The services segment is expected to demonstrate the fastest growth during the forecast period. This can be attributed to the development of various bioinformatics tools and software, as well as the increasing dependence on outsourcing. Outsourcing services will be more cost-effective because companies no longer have to make substantial investments in establishing sequencing facilities and are then expected to absorb the subsequent maintenance and operational costs. Thus, these factors are also prompting more vendors to offer DNA sequencing services. Another reason for the segment's rapid growth is the increasing liking among most research centers and academic organizations to outsource NGS-related projects to CROs. The use of NGS technology generally requires large capital investments and a large lab footprint. Hence, large labs with specific DNA prioritizing needs or small and medium-sized laboratories generally choose to outsource their DNA sequencing to a dedicated sequencing service facility.
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North America is estimated to contribute 37% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. North America accounted for the largest market share in 2022 and is expected to retain its market-leading position throughout the forecast period. This can be attributed to the rising incidence of chronic diseases, increasing healthcare expenditure, and the existence of several key vendors in the region. Several leading biotechnology and life sciences companies have their headquarters in the US and Canada.
Moreover, the demand for DNA sequencing to develop medicines in North America is also driven by the large number of studies carried out. DNA sequencing reagents have widespread applications in clinical trials for the identification of potential drug target spots in the genome as well as in the evaluation of the safety and efficacy of novel treatments. Thus, the large number of clinical trials conducted in the US will further increase the demand for DNA sequencing in the region.
The COVID-19 outbreak affected the region in three main ways, namely by creating supply chain and market disruptions for DNA sequencing consumables and instruments; by directly influencing the production of and demand for DNA sequencing products; and through its financial impact on DNA sequencing market players, which, in turn, adversely impacted the regional market growth in 2020. However, since 2021, the widespread vaccination campaign and the ease of lockdowns were responsible for normalcy in the region, which was a positive influence on the market's focus. The rising cases of chronic diseases such as cancer in the region are expected to fuel the growth of the DNA sequencing market in the region during the forecast period.
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Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
10X Genomics Inc. - The company offers DNA sequencing such as Linked Reads genomics it provides contextual information about the genome from short reads.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
There are multiple factors influencing market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges.
The growing adoption of NGS is driving growth in the DNA sequencing market. Next-Generation Sequencing has made it possible to sequence the entire human genome in a day and is revolutionizing genomic research by massively parallel DNA sequencing. NGS is increasingly used in the diagnosis and treatment of several prevalent chronic diseases, such as cancer and infectious diseases.
However, NGS technology can detect sequence variations effectively and provide several genetic markers, including common and rare variants, which further spurs its adoption. The ability to conduct DNA sequencing simultaneously, which makes it easier and more precise in treating diseases because of earlier diagnosis and detection, constitutes one factor that is driving the increased adoption of NGS. The wide use of NGS in DNA sequencing and its growing adoption among end-users are expected to drive the growth of the global DNA sequencing market during the forecast period.
The automation of DNA Sequencing is a key trend in the DNA sequencing market. It is a repetitive, complex, and long process to determine the full nucleotide sequence of large DNA molecules, making it an excellent area for automation. Automated sequencing has been developed to sequence large quantities of DNA using the principle of the Sanger chain-termination method. The automation of DNA sequencing machines has led to the rapid development of computer software for analyzing, assembling, and manipulating DNA sequences.
Moreover, automated DNA sequencing equipment eliminates the use of radioactive isotopes for labeling DNA by employing a fluorescent dye to label the nucleotides instead. These fluorescent dyes do not pose a risk to the environment and do not require special handling or disposal. Because of these factors, the automation of DNA sequencing is gaining prominence and is expected to have a positive impact on the growth of the global DNA sequencing market during the forecast period.
The inadequate resources for DNA sequencing in developing countries is a major challenge faced by the DNA sequencing market. Advanced technologies in DNA technology have made it possible to increase the accuracy of investigative investigations and reduce overall sequencing costs significantly, thereby increasing its use and increasing applications. However, DNA sequencing remains largely underutilized in developing countries, leading to limited R&D funding. This can be attributed to factors such as a lack of skillful personnel, the high costs associated with establishing and continuing a sequencing facility, the low quality of outsourcing services, and the limited access to tools for genomic data analysis and manipulation.
However, the lack of human development and education capacity in emerging countries creates a barrier to market growth by failing to provide adequate training. Furthermore, genomic data analysis and manipulation have become crucial tools for genomic research. Moreover, outsourcing businesses in many evolving countries provide low-quality services, with the risk of the entire outsourcing procedure failing at any stage, which, in turn, leads to losses in terms of both time and cost. Hence, the availability of limited resources for DNA sequencing in developing countries will be a major challenge for the growth of the market in focus during the forecast period.
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The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global DNA Sequencing Market Customer Landscape
The DNA sequencing market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
DNA Sequencing Market Scope |
|
Report Coverage |
Details |
Page number |
168 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 15.52% |
Market growth 2023-2027 |
USD 10,690.39 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
15.16 |
Regional analysis |
North America, Europe, Asia, and the Rest of the World (ROW) |
Performing market contribution |
North America at 37% |
Key countries |
US, UK, Germany, China, and Japan |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
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. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Solution
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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