Genome Sequencing Market Size, Future Trends, Key Insights, Business Strategies to 2031| Illumina, Inc., Thermo Fisher Scientific, BGI Genomics

The Global Genome Sequencing Market size was valued at USD 41.92 billion in 2023. It is estimated to reach USD 101.23 billion by 2031, growing at a CAGR of 11.7% during the forecast period 2024-2031.

The global Genome Sequencing market is expected to grow due to the growing number of rare, terminal, and complex diseases, especially cancer. The constant increase in cancer cases is proportionately increasing the number of sequencing-based diagnostics and treatment options in the market. The introduction of single-cell sequencing technology performs advanced sequencing, thereby helping in cell mapping of tumor cells.

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List of Key Players Present in the Genome Sequencing Market:

Illumina, Inc.,
Thermo Fisher Scientific,
BGI Genomics,
Agilent Technologies Inc.,
QIAGEN,
Brooks Life Sciences,
MACROGEN Inc.,
Pacific Biosciences of California Inc,
F. Hoffmann-La Roche Ltd,
Oxford Nanopore Technologies

By Product Type

• Instruments
• Reagents and Consumables
• Software and Services

By Technology

• Next-Generation Sequencing
• Sanger Sequencing
• Third-Generation Sequencing
• Single-Molecule Real-Time Sequencing
• Others

By Applications

• Diagnostics
• Drug Discovery
• Precision Medicine
• Environmental Genomics
• Research
• Others

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Market Dynamics:

The worldwide genome sequencing market will be driven by R&D advances and genomic mapping programmes. Neoantigen Presentation Score (NEOPS) also boosts industry growth. The market will also benefit from bioinformatics advances and illness management, prevention, and treatment.

Which regions are leading the Genome Sequencing Market?

• North America (United States, Canada and Mexico)
• Europe (Germany, UK, France, Italy, Russia and Turkey etc.)
• Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
• South America (Brazil, Argentina, Columbia etc.)
• Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

Genome Sequencing Market Dynamics

Drivers:

The rising demand for personalized medicine and precision healthcare creates a need for genomic data, which drives increased adoption of genome sequencing services and technologies. This surge in demand results from the crucial role genomic data plays in guiding tailored treatments, improving patient outcomes, and enhancing the overall efficacy of medical interventions based on individual genetic profiles.

Opportunities:

The rising adoption of genome sequencing advance healthcare systems, accelerate scientific research, and leverage genomic data for personalized medicine and precision agriculture, contributing to socio-economic development and improved quality of life.

Challenges:

Stringent regulations can increase compliance costs and limit data access, impacting the accessibility and affordability of genome sequencing services, while data privacy concerns deter individuals from participating in genomic studies, slowing down research progress.

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Table of Contents

Globa l Genome Sequencing Market Research Report - Forecast to 2031
Chapter 1 Genome Sequencing Market Overview
Chapter 2 Global Economic Impact on Industry
Chapter 3 Global Market Competition by Manufacturers
Chapter 4 Global Production, Revenue (Value) by region
Chapter 5 Global Supply (Production), Consumption, Export, Import by Regions
Chapter 6 Global Production, Revenue (Value), Price Trend by Type
Chapter 7 Global Market Analysis by Application
Chapter 8 Manufacturing Cost Analysis
Chapter 9 Industrial Chain, Sourcing Strategy and Downstream Buyers
Chapter 10 Marketing Strategy Analysis, Distributors/Traders
Chapter 11 Market Effect Factors Analysis
Chapter 12 Global Genome Sequencing Market Forecast

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