DNA Sequencing Products Market is Expected to Cross US$ 9 Billion by 2024: IMARC Group

The global DNA sequencing products market has witnessed strong growth over the past few years. This can be attributed to the increasing adoption of DNA sequencing processes in various application areas such as species discovery, forensic sciences, hereditary disease detection and agrigenomics.

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The latest report by IMARC Group, entitled “DNA Sequencing Products Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, finds that the global DNA sequencing products market reached a value of around US$ 4 Billion in 2018, registering a CAGR of nearly 16% during 2011-2018. DNA sequencing refers to the process of validating the accurate order of nucleotides in a DNA molecule. It comprises of various technologies and techniques that are used to figure out the sequence of the four bases in a DNA strand – guanine, thymine, adenine and cytosine. DNA sequencing finds applications in varied fields of research such as species discovery, genome editing, forensic sciences, DNA recombination, hereditary disease detection, agrigenomics and phylogenetic analysis.

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Market Trends:

As DNA sequencing provides information about the genetic basis of diseases, it has created opportunities for pharmaceutical companies to modernize medicines and develop personalized treatments for patients. For instance, DNA sequencing processes have helped in the development of targeted therapies that affect pathogens or cancer cells but do not damage healthy body cells. Apart from this, the National Human Genome Research Institute (NHGRI) in the United States provides allowances for new research and development in genomics which has encouraged researchers to foray into the industry. Consequently, the growing demand for efficient DNA sequencing products has encouraged manufacturers to develop alternative sequencing technologies with improved yield, affordability, speed and sensitivity. Looking forward, the market value is projected to cross US$ 9 Billion by 2024, growing at a CAGR of 15% during 2019-2024.

Insights on Market Segmentation:

Breakup by Applications:

1. Biomarkers

2. Biomarkers

3. Reproductive Health

4. Forensics

5. Personalized Medicine

6. Others

Based on product types, the market has been segmented into consumables and reagents, and equipment. Currently, consumables and reagents are the most popular type of DNA sequencing products.

Breakup by Applications:

1. Biomarkers

2. Diagnostics

3. Reproductive Health

4. Forensics

5. Personalized Medicine

6. Others

On the basis of applications, biomarkers represent the leading segment, accounting for the dominant market share. Biomarkers are used for predicting treatment outcomes for patients suffering from chronic diseases such as CVDs and cancer. DNA sequencing products find applications across various other sectors including diagnostics, reproductive health, personalized medicine and forensics.

Breakup by End-User:

1. Academic and Government Research Institutes

2. Pharmaceutical and Biotechnology Companies

3. Hospitals and Clinics

4. Others

The market has also been segregated on the basis of the end-use into academic and government research institutes, pharmaceutical and biotechnology companies, and hospitals and clinics. At present, DNA sequencing is majorly utilized in academic and government research institutes owing to the presence of a large number of research and development projects which involve the practical implementation of data analysis and next-generation sequencing.

Breakup by Region:

1. North America

2. Europe

3. Asia Pacific

4. Latin America

5. Middle East and Africa

Region-wise, North America enjoys the leading position in the global DNA sequencing products market. This can be accredited to the growing geriatric population, prevalence of several chronic diseases and presence of prominent drug manufacturers in the region. North America is followed by Europe, Asia Pacific, Latin America, and Middle East and Africa.

Competitive Landscape:

The competitive landscape of the DNA sequencing products market has also been analyzed. Some of the key players are Illumina Inc., Thermo Fisher Scientific Inc., Roche Diagnostics, Pacific Biosciences of California, Inc. and Beckman Coulter.

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This release was published on openPR.