DNA Sequencing Market to Surpass US$ 14,755.5 Mn by 2030 - Coherent Market Insights

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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https://www.coherentmarketinsights.com/market-insight/dna-sequencing-market-5531

Key Takeaways of the Global DNA Sequencing Market:

• The global DNA sequencing market is expected to exhibit a CAGR of 11.7% during the forecast period. Increasing adoption of inorganic growth strategies, such as acquisitions by key players in the market to expand product portfolio, is expected to drive the segment growth over the forecast period. For instance, in September 2020, QIAGEN N.V., a Netherlands-based holding company, announced the acquisition of NeuMoDx Molecular, Inc., a provider of molecular diagnostic solutions. This acquisition will help in strengthening QIAGEN N.V.’s position in the automated molecular testing.
• Among product type, consumables segment is estimated to hold a dominant position in the global DNA sequencing market over the forecast period, owing to increasing adoption of inorganic growth strategies, such as product launches by the key players in the market to expand the product portfolio. For instance, in January 2020, Agilent Technologies Inc., a pharmaceutical company, announced the launch of new Agilent SureSelect XT HS2 DNA Kit. Cutting-Edge DNA Kit represented the state-of-the-art in the library preparation and target enrichment, the new product helped researchers to accelerate capture-based enriched library preparation that improved the ability to multiplex hundreds of samples in one sequencing run, thus reducing sequencing costs for high-throughput
• Among region, North America is expected to be the dominant region in the global DNA sequencing market, owing to increasing adoption of inorganic growth strategies, such as agreement by the key players in the market to expand the product portfolio and strengthen their market presence, which is expected to drive the segment growth over the forecast period. For instance, in August 2020, GeneDx, Inc., a subsidiary of BioReference Laboratories, Inc., and OPKO Health, a pharmaceutical company, entered into an agreement with Pediatrix Medical Group., to provide next-generation genome sequencing to support clinical diagnosis in the neonatal intensive care unit ("NICU") by Pediatrix affiliated neonatologists. Next Generation Sequencing is expected to improve diagnostic capabilities, reduce disease impact, and facilitate the development of new precision medicine solutions for pediatric care.
• 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.