Global DNA Sequencing Market, by Product Type (Consumables, Instruments, and Services), by Technology (Sanger Sequencing, Next-Generation Sequencing, Third- Generation DNA Sequencing, and Others), by Application (Oncology, Reproductive Health, Clinical Investigation, Agrigenomics & Forensics, Metagenomics, Epidemiology & Drug Development, and Others), by End User (Hospitals & Clinics, Pharmaceutical & Biotechnology Companies, Clinical Research, and Others), by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) 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), as highlighted in a new report published by Coherent Market Insights.
The key players in the market are focusing on adoption of inorganic growth strategies, such as partnerships and collaborations in order to strengthen their market presence in the global DNA sequencing market, is expected to drive the market growth over the forecast period. For instance, in February 2021, Thermo Fisher Scientific Inc., a pharmaceutical company, announced the acquisition of Mesa Biotech, Inc., a molecular diagnostic company. This acquisition will help Thermo Fisher Scientific Inc. to expand its molecular diagnostics product portfolio.
Global DNA Sequencing Market– Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), that first appeared in Wuhan (province of Hubei, China) in the last months of 2019 as "coronavirus disease 2019" or COVID-19. This virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
The COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries such as India, China, Brazil, and others faced problems with regards to the transportation of drugs from one place to another.
The COVID-19 had a positive impact on the global DNA sequencing market, owing to its diagnostic application in the COVID-19-pandemic. For instance, in June 2020, Illumina, Inc. received the first U.S. Food and Drug Administration (FDA) Emergency Use Authorization (EUA) for the Illumina COVIDSeq Test, a high-throughput, sequencing-based, and In Vitro Diagnostic (IVD) workflow that enables the detection of SARS-CoV-2 and extends the options available for labs to scale the diagnostic testing and helps to address the global need for diagnostic testing to fight the COVID-19 pandemic.
Global DNA Sequencing Market: Key Developments
In March 2022, Illumina Singapore, a subsidiary of Illumina, Inc., announced partnership with Trivitron, a medical device company, to develop next-generation sequencing (NGS) based in-vitro diagnostic (IVD) tests in India. Illumina believes that this partnership will help in developing commercial IVD assay to address the demands of patients in India.
In September 2022, Illumina, Inc., a company providing DNA sequencing and array-based technologies, announced the launch of NovaSeq X Series (NovaSeq X and NovaSeq X Plus), a new production-scale sequencers. Using revolutionary new technology, NovaSeq X Plus can generate more than 20,000 whole genomes per year–that is 2.5 times the throughput of the prior sequencers this new sequencers were accelerating genomic discovery and clinical insights, to understand disease.
Browse 32 Market Data Tables and 36 Figures spread through 208 Pages and in-depth TOC on “Global DNA Sequencing Market”- Forecast to 2030 by Product Type (Consumables, Instruments, and Services), by Technology (Sanger Sequencing, Next-Generation Sequencing, Third Generation DNA Sequencing, and Others), by Application (Oncology, Reproductive Health, Clinical Investigation, Agrigenomics & Forensics, Metagenomics, Epidemiology & Drug Development, and Others), by End User (Hospitals & Clinics, Pharmaceutical & Biotechnology Companies, Clinical Research, and Others) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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