The global DNA sequencing market size was valued at USD 11.13 billion in 2023 and is projected to reach USD 51.31 billion by 2034, registering a CAGR of 14.9% from 2024 to 2034. The growing rapid progress in bioinformatics and technology is expected to drive the growth of the DNA sequencing market. The U.S. DNA sequencing market size is expected to hit around USD 18.75 billion by 2034, growing at a CAGR of 15.1% from 2024 to 2034.
The DNA sequencing market deals with common laboratory techniques that regulate the precise sequence of nucleotides or rely on a DNA molecule. The sequence of bases encodes biological and medical data that cells use to operate and develop. Various methods for DNA sequencing are currently available including Next Generation Sequencing. DNA sequencing includes technology or method that is used to regulate four bases such as thymine, cytosine, guanine, and adenine.
FREE sample includes data points, ranging from trend analyses to estimates and forecasts@ https://www.precedenceresearch.com/sample/1189
The market for DNA sequencing is driven by increasing high investment in research and development activities, reducing the costs of sequencing in DNA sequencing, increasing demand for precision medicine in DNA sequencing, rising technological advancements in next generation sequencing technologies, increasing prevalence of cancer and increasing usage of consumables such as reagents and kits during the forecast period.
DNA Sequencing Market at a Glance
The usage of Whole-Genome and Next-Generation Sequencing in clinical diagnosis applications is increasing the scope of DNA sequencing. These advanced developments are expected to drive market growth during the forecast period. The ongoing transformation of sequencing technologies has transformed the field of genomics and has a significant emphasis within the healthcare industry. Furthermore, substantial improvement in sequencing speed is a major aspect of technological advancement.
In addition, the increasing interest in personalized medicine and genomics research is a major factor in the expansion of the market. Healthcare professionals and researchers are increasingly shifting to DNA sequencing due to the technological advancements continuously unraveling the complexities of the human genome contributed to driving the growth of the DNA sequencing market during the forecast period.
Genetic health screening, personalized medicine, and many more advantages fuel the market growth.
DNA sequencing can recognize genetic variants that may increase the risk of certain inherited conditions or diseases. This information can help individuals and their healthcare providers to actively manage their health. In addition, by understanding a patient’s unique genetic history, medical treatments can be customized to their individual needs. This can reduce the risk of adverse reactions and improve the effectiveness of medications. Furthermore, analyzing DNA can provide insights into genetic lineage and ancestral origins. This information can be important for connecting with distant relatives and exploring family history. Additionally, DNA sequencing data can add to continuous scientific research, significantly leading to new advancements and discoveries in healthcare and medicine. Thus, these driving factors are expected to enhance the growth of the DNA sequencing market.
The high-cost sequencing services and technologies may restrain market growth.
The high cost of sequencing services and technologies is a major challenge to the market. The financial burden is further increased by continuing operating costs for things like specialized labor, reagents, and consumables. In addition, Ethical issues associated with genetic information privacy and misuse must be considered carefully. The legislation and reimbursement policies are considered to change and make it more complicated, while data privacy and security remain a major priority. Due to the developed technology, DNA sequencing is becoming more accessible and useful and overcoming previous challenges. Thus, these restraining factors are expected to hinder the growth of the DNA sequencing market.
Technological advancements in DNA sequencing can revolutionize market growth.
DNA sequencing technology has revolutionized various industries such as forensics, agriculture, pharmaceuticals, and healthcare by offering detailed genetic insights. DNA sequencing helps in the early treatment and detection of genetic diseases in healthcare and benefits millions worldwide. The Food and Agriculture Organization represents its impact on optimizing crop productivity and resilience in the agriculture sector, according to the U.S. Food and Drug Administration. The increasing application and rising technological advancements in research and healthcare enhance the significant growth in the market. Thus, these factors are expected to enhance the growth of the DNA sequencing market in the coming years.
We value your investment, get customization@ https://www.precedenceresearch.com/customization/1189
North America dominated the DNA sequencing market in 2023.
The presence of various major players such as Agilent Technologies Inc., Illumina, Oxford Nanopore Technologies plc, and Thermo Fisher Scientific and the increasing adoption of DNA sequencing technology are expected to drive the growth of the market in the region. In addition, the increasing availability of technologically advanced healthcare infrastructure, growing investment in research and development activities, and increasing continuous technological advancements by major players contributed to propelling the market growth.
The U.S. and Canada are the major and dominated countries in the region. Due to its whole genome, oncology and genomics-based research U.S. dominated the market in the region. Furthermore, companies are pushing for better research methods, skilled personnel, funding, and sophisticated medical and research infrastructure to identify advanced technologies for therapies and diagnosis. Thus, these major factors are expected to drive the growth of the DNA sequencing market in North America.
Asia Pacific is expected to grow fastest during the forecast period.
The market for DNA sequencing is driven by the ongoing developments in prenatal NGS testing and HLA combined with international collaborations, increasing developments in genomics in various emerging countries are expected to enhance the market growth in the region. China, India, Japan, and South Korea are the leading and developed countries in Asia Pacific. China has the most advanced and fastest growing market and contributed to propel the growth of the DNA sequencing market in the Asia Pacific region.
· For instance, in November 2022, in China, Illumina became a powerhouse of the Chinese genomics industry. The Chinese market for DNA sequencing is estimated to grow to 18.3 billion.
· In December 2023, a global leader in array-based technologies and DNA sequencing, a China-based high-tech company specializing in genetic big data and oncology liquid biopsy, has jointly launched a domestically produced genetic sequencing system, NextSeq 2000Dx-CN-HAP in Shenshen.
DNA Sequencing Market Segment
By Product, the consumables segment led the market
The consumables segment accounted for the largest market share in 2023. The increasing accessibility of kits and reagents designed for several library construction stages such as quality control and adapter ligation are major factors in the expansion of market share. Most of these tools are characterized by streamlined and simplified workflows, compatibility, and pre-prepared compounds.
By technology, the next-generation sequencing segment led the market.
The next-generation sequencing segment contributed to the highest market share in 2023. The declining cost, reduced time, and radical advances in these technologies have made genome sequencing accurate and more affordable. These factors are expected to drive the growth of the next-generation sequencing segment.
By application, the oncology segment led the market.
The oncology segment accounted for the largest market share in 2023. The oncology segment holds the development of cancer therapeutics and diagnostics and great potential in clinical research. The value of these technologies in precision medicine and companion diagnostics is widely recognized by companies and clinicians, which is further expected to enhance the growth of the oncology segment during the forecast period.
DNA Sequencing Market Recent Developments
· In November 2023, a global leader in array-based technologies and DNA sequencing, Illumina Inc. Launched its Global Health Access Initiative. The aim behind this launch was to support access to pathogen sequencing tools for public health in middle- and low-income countries (LMICs).
· In May 2024, a global leader in data-driven medicine and a cloud-native healthcare technology company SOPHiA GENETICS launch new whole genome sequencing capabilities to bring a scalable and streamlined whole genome sequencing.
· In March 2024, the cDNA, RNA, and DNA sequencing device PromethION 2 Integrated (P2i) into open early access were launched by Oxford Nanospore.
DNA Sequencing Market Top Companies
· Agilent Technologies
· Illumina, Inc.
· QIAGEN
· Perkin Elmer
· Thermo Fisher Scientific
· Hoffmann-La Roche Ltd.
· Macrogen, Inc.
· Bio-Rad Laboratories, Inc.
· Oxford Nanopore Technologies Ltd.
· Myriad Genetics
Major Market Segments Covered:
By Product
· Instruments
· Consumables
· Services
By Technology
· Third Generation DNA Sequencing
· Next-Generation Sequencing
· Sanger Sequencing
By Application
· Clinical Investigation
· Oncology
· Forensics & Agrigenomics
· Reproductive Health
· HLA Typing
· Others
By End-Use
· Clinical Research
· Academic Research
· Biotechnology & Pharmaceutical Companies
· Hospitals & Clinics
· Others
By Geography
· North America
· Europe
· Asia Pacific
· Latin America
· Middle East & Africa (MEA)
Get Full Access of this Report@ https://www.precedenceresearch.com/checkout/1189
USA : +1 650 460 3308 | IND : +91 87933 22019 | Europe : +44 2080772818
Email@ sales@precedenceresearch.com
