DNA SEQUENCING MARKET ANALYSIS

DNA sequencing refers to a common laboratory technique that determines the exact sequence of nucleotides or bases in a DNA molecule. Sequences of bases (often identified by the first letters of their chemical names, A, T, C, and G) encode biological information that cells use to develop and operate. Several different methods for DNA sequencing are currently available such as Next Generation Sequencing.

Global DNA sequencing market is estimated to be valued at US$ 6,802.2 million in 2023 and is expected to exhibit a CAGR of 11.7% during the forecast period (2023-2030).

Analysts’ Views on Global DNA Sequencing Market:

 Rising demand for precision medicine is expected to drive the market growth over the forecast period. For instance, in August 2022, Mount Sinai, a hospital network in New York City, announced partnership with Regeneron Genetics Center, a part of U.S.-based Biotechnology Company, to launch a genetic sequencing project which enhance the precision medicine research.

Figure 1.Global DNA Sequencing Market Share (%), by Product Type, 2023

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Global DNA Sequencing Market- Driver

Increasing research and development activity 

The DNA sequencing is used in research and development of drugs. Thus, increasing research and development activity by key players in the market to expand their product portfolio, is expected to drive the market growth over the forecast period. For instance, in January 2022, a rare genetic disorder was diagnosed in an average of 8 hours, using a new ultrafast genome sequencing approach developed by scientists at Stanford University School of Medicine and their collaborators. Genome sequencing allowed  scientists to see a patient's complete DNA structure,  this included  information on everything such as from eye color to genetic diseases. Genome sequencing is essential in  diagnosing patients with DNA-rooted diseases.

Increasing prevalence of cancer

The DNA sequencing technology is used for the diagnosis of cancer and thus increasing prevalence of cancer is expected to drive the market growth over the forecast period. For instance, in February 2022, according to the data provided by World Health Organization (WHO), Cancer is a leading cause of death worldwide, accounting for nearly 10 million deaths in 2020. The most common in 2020 (in terms of new cases of cancer) were breast cancer (2.26 million cases), lung (2.21 million cases), colon and rectum (1.93 million cases), prostate (1.41 million cases), skin (non-melanoma) (1.20 million cases), and stomach (1.09 million cases).

Figure 2. Global DNA Sequencing Market Share (%), by Region, 2023

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Global DNA Sequencing Market- Regional Analysis

Among region, North America is expected to dominate the market over the forecast period. This is attributed to increasing adoption of organic growth strategies such as product launches by key players in the region to expand their product portfolio is expected to drive the market growth over the forecast period. For instance, in February 2021, Agilent Technologies Inc., a pharmaceutical company, announced the launch of the Agilent Dako SARS-CoV-2 IgG Enzyme-Linked Immunosorbent Assay (ELISA) kit, intended for the qualitative detection of immunoglobulin G (IgG) antibodies attached to SARS-CoV-2 in human serum or plasma.

The Europe region is expected to be the second largest region over the forecast period,  owing to increasing adoption of organic growth strategies such as product launches by key players in the region to expand product portfolio is expected to drive the market growth over the forecast period. For instance, in December 2021, F. Hoffmann-La Roche Ltd, a Switzerland based pharmaceutical company, announced the launched of the AVENIO Edge System, to deliver a fully-automated, integrated sequencing solution. The AVENIO Edge System is a pre-analytical platform for sequencing library preparation, target enrichment and quantification steps that deliver integrated, end-to-end control with reliable, and consistent high-quality results.

Global DNA Sequencing Market– Impact of Coronavirus (COVID-19) Pandemic

Coronavirus disease 2019 (COVID-19) is a highly contagious infectious disease caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). According to the World Health Organization (WHO)  44,614,437 people were  affected globally till October 10, 2022.

However, the COVID-19 pandemic had a positive impact on the global DNA sequencing market due to increasing adoption of organic strategies such as product launches by key players in the market for diagnosis of COVID-19.  For instance, in December 2020, Eurofins Genomics, a provider of testing and laboratory services for genomics, launched, a next-generation sequencing service that provides full length viral genome sequences. The new Next Generation Sequencing service and ARTIC NGS oligo kit are Eurofins’ latest additions to a comprehensive product portfolio to support researchers globally in the development of vaccines and in their fight against the COVID-19 pandemic.

Global DNA Sequencing Market Segmentation:

The global DNA sequencing market report is segmented into product type, technology, application, end user and region

Based on Product Type, the market is segmented into consumables, instruments, and services. Out of which, consumables segment is expected to dominate the DNA sequencing market during the forecast period and this is attributed to increase in the product launches by key players in the market.

Based on Technology, the market is segmented into Sanger Sequencing, Next-Generation Sequencing, Third- Generation DNA Sequencing, and Others. Out of which, Next-Generation Sequencing segment is expected to dominate the market over the forecast period and this is attributed to increase in the use of Next-Generation Sequencing technology for research and development activities.

Based on Application, the DNA sequencing market is segmented into Oncology, Reproductive Health, Clinical Investigation, Agrigenomics & Forensics, Metagenomics, Epidemiology & Drug Development, and Others. Oncology segment is expected to dominate the market over the forecast period and this is attributed to the increase in usage of DNA sequencing to treat cancer.

Based on End User, the DNA sequencing market is segmented into Hospitals & Clinics, Pharmaceutical & Biotechnology Companies, Clinical Research, and Others. Of which, Pharmaceutical & Biotechnology Companies segment is expected to dominate the market over the forecast period and this is attributed to the increase in the use of DNA sequencing technology.

Based on Region, the DNA sequencing market is segmented into North America, Latin America, Europe, Middle East, Asia Pacific, and Africa. Of which, North America segment is expected to dominate the market over the forecast period and this is attributed to the increasing inorganic growth strategies such as collaboration by key players in the region

Among all segmentation, End User segment has the highest potential due to increasing adoption of organic growth strategies such as product launches by Pharmaceutical & Biotechnology Companies to expand their product portfolio. For instance, in August 2020, Thermo Fisher Scientific Inc, a pharmaceutical company, announced the launch of Oncomine Myeloid Assay GX v2. The Ion Torrent Oncomine Myeloid Assay GX v2 on the Genexus System provide  a complete next-generation sequencing (NGS) solution that  deliver a comprehensive myeloid mutational report in one day.

Global DNA Sequencing Market Cross Sectional Analysis:

In product type segment, consumables segment held  a dominant position in North America region due to increasing adoption of organic growth strategies such as product launches by key players in the market to expand their product portfolio. For instance, in March 2022, Illumina, Inc., a pharmaceutical company, announced the launch of TruSight Oncology (TSO) Comprehensive, a single test that assess  multiple tumor genes and biomarkers to reveal the specific molecular profile of the  patient's cancer. The in vitro diagnostic (IVD) kit help to inform precision medicine decisions for cancer patients.

In technology segment, next generation sequencing segment is dominant in Asia Pacific region due to increasing adoption of organic growth strategies such as product launches by key players in the market to expand product portfolio. For instance, in July 2021, PHC Corporation, a company based in Japan, announced the launch of the DNBSEQTM Series of the next-generation DNA sequencers. These products are available in Japan to support genetic information analysis for researchers and healthcare professionals.

Global DNA Sequencing Market: Key Developments

On January 9, 2023, Illumina Inc., a pharmaceutical company, and Nashville Biosciences LLC, a wholly owned subsidiary of Vanderbilt University Medical Center (VUMC), announced an agreement with Amgen, a biopharmaceutical company, for whole-genome sequence of DNA samples approximately 35,000 samples. This agreement helped  in  accelerating  therapeutic development through genomics and establish  a preeminent clinico-genomic data set.

On December 7, 2022, Element Biosciences, Inc., a developer of the revolutionary DNA sequencing platform, announced the launch of Avidity Cloudbreak Technology. The AVITI technology operates two random access flow cells for independent run starts, with AVITI Operating Software that features tunable read throughput for additional flexibility.

In June 2022, PerkinElmer, Inc., a pharmaceutical company, announced the launch of the BioQule NGS Research System (RUO),  an automated benchtop solution for next-generation sequencing (NGS) library preparation. The BioQule NGS System deliver reliability for a wide variety of applications, which researchers require, such as enabling the creation of high-quality NGS libraries that deliver highly reproducible results and  genome analysis.

In May 2022, NanoString Technologies, Inc., a leading provider of life science tools for discovery and translational research, announced a seamless cloud-based workflow named  GeoMx Digital Spatial Profiler. Spatial analysis of the entire transcriptome with proteome analytes can now be simplified using this integrated push-button walk planning tool.

Global DNA Sequencing Market: Restraint

The high cost of DNA Sequencing

The major factors that can hamper growth of the global DNA sequencing market over the forecast period include high cost of DNA sequencing, lack of specific expertise, disadvantages such as data generation on a large scale, decreased raw accuracy in homology. For instance, in November 2021, according to the data provided by National Human Genome Research Institute, the estimated cost for human genome sequence is ~US$300 million globally, of which National Institute of Health (NIH) provided roughly 50-60%.

Global DNA Sequencing Market: Key Players

Major players operating in the global DNA sequencing market  include Thermo Fisher Scientific, Inc., Illumina, Inc., PerkinElmer Genomics, QIAGEN, Agilent Technologies, Inc., F. Hoffmann-La Roche Ltd, Macrogen, Inc., Abbott, PacBio, Zymo Research Corporation, Oxford Nanopore Technologies plc, Tecan Trading AG, Hamilton Company, ZS Genetics, Inc., and LI-COR, Inc.