The Global DNA Sequencing Market to Amount to $35684.5 Million by 2028

A recent study by Triton Market Research titled 'Global DNA Sequencing Market,' covers the Global Analysis and Forecasts by Product (Instruments & Consumables [Type {Consumables; Instruments}; Platform {NGS (RNA Sequencing; Targeted Resequencing; Whole-exome Sequencing; Whole-genome Sequencing; Chip Sequencing; De Novo Sequencing; Methyl Sequencing); Sanger}]; Sequencing Services; Bioinformatics); by Technology (Sequencing by Synthesis; Ion Semiconductor Sequencing; Chain Termination Sequencing; Pyrosequencing; Sequencing by Ligation (SBL); Single-molecule Real-time Sequencing (SMRT); Nanopore Sequencing; Other Technologies); by Application (Biomarker Discovery; Diagnostics; Reproductive Health; Personalized Medicine; Drug Discovery; Agriculture & Animal Research; Forensics; Other Applications); by Industry Verticals (Research Centers and Academic & Government Institutes; Pharmaceutical; Biotechnology Companies; Hospitals & Clinics; Other Industry Verticals); and Geography (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa).

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The report by Triton estimates the global DNA sequencing market to grow with a CAGR of 17.21% in the forecasting years 2021-2028. This industry is likely to garner a revenue of $35684.50 million by 2028.

Advancements in technology are a key factor driving the market growth. Single-Molecule Real-Time Sequencing (SMRT) is an emerging technology, which is considered a very effective technique for DNA sequencing. With this technique, scientists resequence genomes that have been sequenced previously, with a goal of obtaining higher precision. Technological developments are thus majorly aiding the market growth.

This growth is, however, being restrained by the lack of availability of skilled professionals working in this field. Particularly, in emerging economies of the world, there is a severe dearth of trained professionals, owing to the lack of awareness in these regions.

The market for DNA sequencing has been mainly categorized into product, technology, application, and industry verticals. The product segment is further divided into various sub-segments. These main sub-segments include instruments & consumables, sequencing services, and bioinformatics. Instruments & consumables is segmented further into type and platform. Type includes consumables and instruments. Whereas, platform includes NGS and sanger. NGS further consists of RNA sequencing, targeted resequencing, whole-exome sequencing, whole-genome sequencing, chip sequencing, de novo sequencing, and methyl sequencing.

The second main segment, technology, is divided into sequencing by synthesis, ion semiconductor sequencing, chain termination sequencing, pyrosequencing, sequencing by ligation (SBL), single-molecule real-time sequencing (SMRT), nanopore sequencing, and other technologies.

According to application, the market is divided into biomarker discovery, diagnostics, reproductive health, personalized medicine, drug discovery, agriculture & animal research, forensics, and other applications. The last main segment, industry verticals, is categorized as per research centers and academic & government institutes, pharmaceutical, biotechnology companies, hospitals & clinics, and other industry verticals.

North America dominates the global DNA sequencing market at present, and is expected to remain the largest market by the end of the forecast period. The main factors attributable to the growth of this market include the advancements in technology and the rising prevalence of cancer among people. In recent years, there has been a rise in the cases of breast cancer, prostate cancer, lung & bronchus cancer, colon cancer, melanoma, bladder cancer, thyroid cancer, kidney & pelvis cancer, leukemia, non-Hodgkin lymphoma, pancreatic cancer, endometrial cancer, and others. This is majorly propelling the demand for DNA sequencing in the region, in turn, fueling market growth.

Bio-Rad Laboratories Inc, Thermo Fisher Scientific Inc, Spiral Genetics Inc, Siemens Healthineers AG, Pacific Biosciences of California Inc, Danaher Corporation (Integrated DNA Technologies Inc), Illumina Inc, F Hoffmann-La Roche, BGI Genomics, Adaptive Biotechnologies Inc, Asuragen Inc, Perkinelmer Inc, Merck KgaA, Eurofins Scientific, and Agilent Technologies Inc are the well-known players in the DNA sequencing market.

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Question & Answer: DNA Sequencing Market

Question 1: What factor is majorly aiding the DNA sequencing market growth?
Answer: Advancements in technology are a key factor driving the market growth. Single-Molecule Real-Time Sequencing (SMRT) is an emerging technology, which is considered a very effective technique for DNA sequencing. With this technique, scientists resequence genomes that have been sequenced previously, with a goal of obtaining higher precision. Technological developments are thus majorly aiding the market growth.

Question 2: What factor is restraining the growth of the global DNA sequencing market?
Answer: This growth is, however, being restrained by the lack of availability of skilled professionals working in this field. Particularly, in emerging economies of the world, there is a severe dearth of trained professionals, owing to the lack of awareness in these regions.

Question 3: Which region is expected to dominate the global DNA sequencing market over the forecasting period?
Answer: North America dominates the global DNA sequencing market at present, and is expected to remain the largest market by the end of the forecast period. The main factors attributable to the growth of this market include the advancements in technology and the rising prevalence of cancer among people. In recent years, there has been a rise in the cases of breast cancer, prostate cancer, lung & bronchus cancer, colon cancer, melanoma, bladder cancer, thyroid cancer, kidney & pelvis cancer, leukemia, non-Hodgkin lymphoma, pancreatic cancer, endometrial cancer, and others. This is majorly propelling the demand for DNA sequencing in the region, in turn, fueling market growth.

Question 4: Who are the well-known players in the DNA sequencing market?
Answer: Bio-Rad Laboratories Inc, Thermo Fisher Scientific Inc, Spiral Genetics Inc, Siemens Healthineers AG, Pacific Biosciences of California Inc, Danaher Corporation (Integrated DNA Technologies Inc), Illumina Inc, F Hoffmann-La Roche, BGI Genomics, Adaptive Biotechnologies Inc, Asuragen Inc, Perkinelmer Inc, Merck KgaA, Eurofins Scientific, and Agilent Technologies Inc are the well-known players in the DNA sequencing market.

Related Report:
Global CRISPR Market - https://www.tritonmarketresearch.com/reports/crispr-market

The global CRISPR market is expected to register growth at a CAGR of 23.95% during the estimated years 2019-2028, while reaping $5872.4 million in revenue by 2028.

The growing need for breeders and the rise in research & development activities are majorly fueling the CRISPR market growth. Another major reason for the market growth is the increase in the prevalence of genetic disorders. Also, in recent years, several new research firms and start-ups have emerged, and the entry of new players is accelerating the market growth.

In addition, the developing countries in Latin America and the Asia-Pacific are creating multiple opportunities for development. However, certain factors, such as the lack of skilled professionals and concerns regarding accuracy & standardization in diagnostic testing are hindering this growth process.

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