DNA Sequencing Market Hitting New Highs By 2028 | by BGI, Bio-Rad Laboratories Inc, Agilent Technologies Inc

New Jersey, United States - Analysis of DNA Sequencing Market 2022 to 2028, Size, Share, and Trends by Type, Component, Application, Opportunities, Growth Rate, and Regional Forecast

The size of the world market for DNA sequencing was estimated at USD 4.7 billion in 2019 and is projected to increase at a CAGR of 11.4% from 2020 to 2027. The discovery of DNA variants has been made possible by quick developments in bioinformatics and sequencing technologies. These developments also identify variations linked to a higher risk of illness. The efficacy of DNA sequencing in clinical diagnosis applications is increased by the widespread use of Next-generation sequencing (NGS) and whole-genome sequencing (WGS), which allow several genes to be examined simultaneously on a single diagnostic platform. The development of pharmacological therapies for cancer is accelerated by personalised targeted sequencing of tumours, which also discovers cancer targets or pathways.

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A paradigm shift in proteomic and genomic research has been brought about by DNA sequencing, a highly accurate and high-throughput technique utilised for a variety of applications including de novo assembly, WGS, and DNA resequencing. Because of this, several academic research centres are able to utilise this technology for study inquiries. The NovaSeq 6000 Sequencing System from Illumina was installed at the Whitehead Institute for Biomedical Research in Massachusetts, United States, in June 2020.

With the use of genomics technology, CVS Health's Transform Oncology Care precision medicine initiative develops individualised cancer treatment regimens. The desire for these technologies in large-scale, fast genome DNA sequencing initiatives to monitor the viral propagation and inform future therapies has been driven by an exponential increase of COVID-19 patients. In collaboration with Illumina, the National Health Service of the United Kingdom, Genomics England, and Genetics of Mortality in Critical Care will provide whole-genome sequences of 35,000 British residents who have COVID-19 in May 2020. This increases the need for DNA sequencing in the diagnosis of COVID-19. The Centers for Medicare and Medicaid Services (CMS), the Association for Molecular Pathology, as well as private payers like Blue Cross Blue Shield and Aetna, are driving initiatives to increase the clinical utilisation of sequencing technology, which in turn is driving the market for DNA sequencing.

Segmentation

With a revenue share of 43.3%, consumables led the DNA sequencing market in 2019. A bigger part of the market is attributed to the broad availability of reagents and kits to address all stages of library assembly, including DNA fragmentation, enrichment, adaptor ligation, amplification, and quality control. The majority of these programmes support low-input and formalin-fixed specimens and include streamlined and simplified processes, ready-to-use components, and components.

Numerous sequencing difficulties, like erratic base distributions and numerous hairpin loops, are resolved by sequencing services. The service providers' streamlined technological platforms and proprietary reagents guarantee very precise performance, and their highly skilled staff helps with any unique needs of customers. They provide quick turnaround times, excellent customer service, and technical support, which is anticipated to propel the services sector at the market's quickest CAGR.

In 2019, the market for DNA sequencing was led by next-generation sequencing, which generated 58.6% of all revenue. Genome sequencing is now quicker, more accessible, and more precise because to these revolutionary advancements in technology and the falling cost of sequencing. Additionally, the use of NGS technology for regular clinical diagnostic tests is growing, especially in light of the COVID-19 infection pandemic, which benefits the segment's revenue share.

Regional analysis

2019 saw North America lead the DNA sequencing market with a dominant 44.3% revenue share. Due to continual technical developments made by important firms, huge R&D expenditures, and the availability of technologically advanced healthcare infrastructure, North America now accounts for the greatest market share for DNA sequencing. Numerous government initiatives in the United States and Canada fund the development of novel cancer therapies and drugs.

The market for DNA sequencing is anticipated to expand at a profitable pace in Asia Pacific over the course of the forecast period. There will likely be many prospects for regional expansion as a result of strategic actions taken by multinational companies to increase their presence in light of the substantial client base. For instance, a California-based company called GenapSys received USD 75 million in February 2020 to assist the global expansion of their tabletop DNA sequencer and the management of coronavirus in the area.

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Key Players

BGI
Bio-Rad Laboratories, Inc.
Agilent Technologies, Inc.
F. Hoffmann-La Roche Ltd.
Oxford Nanopore Technologies Ltd.
Macrogen, Inc.
Thermo Fisher Scientific, Inc.
Illumina, Inc.
QIAGEN
Perkin Elmer, Inc.
Pacific Biosciences of California, Inc.

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