DNA Sequencing Market: Industry Analysis, Opportunity and Forecast to 2030
DNA sequencing stands at the forefront, unlocking the secrets of life encoded within our genetic makeup. The DNA sequencing market has witnessed remarkable growth, fueled by advancements in technology and a deepening understanding of the human genome. Genetic sequencing and genome sequencing have become pivotal tools, revolutionizing fields such as personalized medicine, agriculture, and evolutionary biology.
DNA
Sequencing Market Size is projected to grow from USD 2.5 Billion in
2023 to USD 4.8 billion by 2030, at CAGR 11.20% during the forecast period
(2023 - 2030)
Genetic sequencing, a fundamental aspect of DNA analysis,
involves the determination of the order of nucleotides in a DNA molecule. This
process allows scientists to decipher the genetic code, providing insights into
the genetic variations that contribute to an individual's unique traits and
susceptibility to certain diseases. As technology has evolved, the cost
of genetic
sequencing has significantly decreased, making it more accessible for
researchers, clinicians, and even individuals curious about their own genetic
makeup.
Taking genetic sequencing to the next level, genome
sequencing involves mapping the entire DNA sequence of an organism, be it
human, plant, or microbe. This comprehensive approach facilitates a holistic
understanding of the genetic composition, aiding in the identification of
potential genetic markers for diseases, understanding evolutionary relationships,
and tailoring personalized treatment plans in healthcare.
Market Dynamics and Trends
The DNA sequencing market is characterized by dynamic
shifts, driven by continuous technological innovations. Next-generation
sequencing (NGS) technologies have significantly enhanced sequencing speed and
reduced costs, making large-scale projects feasible. Additionally, the rise of
direct-to-consumer genetic testing has contributed to market growth, empowering
individuals to explore their ancestry, health risks, and potential genetic
predispositions.
Market Drivers:
The world is becoming
more and more digital, and this includes the legality of the DNA sequencing
business. Thanks to developments in technology and biological research, what
was once thought of as a fringe practice is now teeming with high-tech companies
and scientists alike. Given the variety of uses for DNA sequencing, it is not
surprising that demand for this service has skyrocketed recently. The rising
need for personalized treatment and early disease diagnosis is anticipated to
be the main driver of this rise.
Genomic sequencing is
increasingly utilized in preventative healthcare to identify people who are at
risk for contracting specific illnesses like cancer and heart disease.
Worldwide, more than 10 million people pass away from cancer each year, and
more than 18 million people die from cardiovascular disorders. In actuality,
32% of all fatalities worldwide are caused by CVD. The market for DNA
sequencing has a profitable growth opportunity as a result.
With the development of
DNA sequencing technologies, precision medicine is becoming increasingly
conceivable. This area of healthcare gives clinicians a much better
understanding of a patient's biology, which can lead to better surgical
outcomes and more efficient therapies. By sequencing a person's entire genome,
doctors can discover any mutations that might be causing any medical problems.
In some cases, the DNA sequencing market, this information can be applied to
recommend tailored treatments that improve the patient's chance of success.
Major Key Players:
Some of the DNA
Sequencing Companies are Perkin Elmer, Roche Holdings AG, Siemens AG,
Illumina, Agilent Technologies Inc., Genia Corporation, Oxford Nanopore
technologies, Koninklijke Philips N.V., Pacific Biosciences, Johnson &
Johnson, Deep Genomics, Inc., Life Technologies, Illumina, Eppendorf, Tecan,
and Thermo Scientific, Hamilton Thorne Biosciences, General Electric Company,
Siemens Healthineers GmbH, Myriad Genetics, Bayer Corporation, Beckman Coulter,
and others.
Segment Analysis
The global DNA sequencing market has been segmented on the
basis of type, product, technology, application, and end-users.
On the basis of type, the market is segmented into
instruments and consumables services and workflow products. Based on product
the market is segmented into sequencing services and sequencing instruments and
consumables. Sequencing instruments and consumables are further sub-segmented
into two types such as sequencing instruments and consumables by product type
and by platform type. Sequencing instruments and consumables by product type
are further sub-segmented into consumables, instruments, whereas sequencing
instruments and consumables by platform type are further sub-segmented into
NGS, sanger, bioinformatics, sample prep kits, and reagents.
On the basis of technology, the market is further segmented
into dna modifying enzymes, semiconductor sequencing,
pyrosequencing, sequencing by synthesis, single-molecule real-time sequencing
(SMRT), sequencing by ligation (SBL), and other technologies. On the basis of
application, the market is further segmented into diagnostics, agriculture and
animal research, biomarker discovery, personalized medicine, drug discovery,
and other applications. Based on end-user, the market is segmented into
research centers and government institutes and academia, biotechnology and
pharmaceutical companies, clinics and hospitals, and other end-users.
The market has been segmented, by region, into the Americas,
Europe, Asia-Pacific, and the Middle East and Africa.
Recent Development
For instance, in October 2022, Oxford Nanopore Technologies
updated its high-throughput benchtop DNA sequencer with the goal of making
genetic data accessible to a wide range of academics and scientific fields. The
PromethION 2 Solo from the company, which can provide high-yield sequencing at
an affordable price, is described as being around the size of a large book. The
same sequencing equipment is used by the larger PromethION predecessors, which
run 24 or 48 flow cells.
Regional Analysis
The market in the Americas is expected to boost the global
DNA sequencing market owing to technological advancements and increasing
incidences of genetic disorders among patients. Increasing investments by
government organizations in the research and development of DNA sequencing are
also boosting the market growth in this region. The European market is expected
to be the second-largest due to government funding and support from the
healthcare sector coupled with the rising prevalence of the genetic disorder.
However, Asia-Pacific is projected to dominate in terms of growth rate over the
forecast period owing to the rising investment towards R&D activities and
unhealthy lifestyle which are resulting in an increased prevalence of cancer
and other disorders. Rising geriatric population and increasing prevalence of
tumor among patients in this region have a positive influence on the
development of DNA sequencing market in this region. The Middle East and
Africa accounts for the smallest share due to lack of medical technology and
poor medical facilities. Emerging economies such as India and China are leading
to growth in the demand for DNA sequencing owing to an increasing number of
healthcare awareness programs, government investments in healthcare, and
favorable healthcare insurance coverage.
Browse Related Reports:
Oligonucleotide
Synthesis Market
Saudi
Arabia Medical Devices Market
For More Information, Please Visit @ Market Research Future
Comments
Post a Comment