The global DNA sequencing market is experiencing explosive growth, driven by rapid technological advancements, increasing research and development activities, and the expanding applications of DNA sequencing across various fields.
Market Overview
The global DNA sequencing market size was valued at USD 13.23 billion in 2023 and is anticipated to grow from USD 15.9 billion in 2024 to USD 70.74 billion by 2032, exhibiting a remarkable CAGR of 20.5% during the forecast period. This exponential growth reflects the transformative impact of DNA sequencing technologies on various sectors, including healthcare, agriculture, and biotechnology.
Some of the major players operating in the global market include:
- Abcam plc
- Agilent Technologies, Inc.
- Becton, Dickinson and Company (BD)
- Bio-Rad Laboratories, Inc.
- Bio-Techne Corporation
- Cell Biolabs, Inc.
- Cell Signaling Technology, Inc.
- Danaher Corporation
- GenScript Biotech Corporation
- Merck KGaA
- PerkinElmer, Inc.
- Promega Corporation
- Qiagen N.V.
- SignalChem Pharmaceuticals Inc.
- Thermo Fisher Scientific Inc.
Key Market Drivers
- Technological Advancements: Continuous advancements in DNA sequencing technologies, such as next-generation sequencing (NGS) and third-generation sequencing, are driving market growth. These technologies offer increased throughput, higher accuracy, and reduced costs, making DNA sequencing more accessible and affordable.
- Personalized Medicine: The increasing focus on personalized medicine, which tailors treatment plans to individual patient characteristics, is a major driver of market growth. DNA sequencing plays a crucial role in identifying genetic variations that can influence disease risk, treatment response, and drug side effects.
- Growing Research and Development Activities: Increased research and development activities in various fields, including oncology, genetics, and infectious diseases, are driving the demand for DNA sequencing technologies for research and development purposes.
- Expanding Applications: DNA sequencing is finding applications beyond human health, including in agriculture, environmental monitoring, and forensic science.
𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:
DNA Sequencing Market, Product and Services Outlook (Revenue – USD Billion, 2019-2032)
- Instruments
- Consumables
- Services
DNA Sequencing Market, Application Outlook (Revenue – USD Billion, 2019-2032)
- Clinical Investigation
- Oncology
- Consumer Genomics
- Agrigenomics & Forensics
- Metagenomics
- Epidemiology & Drug Development
- Others
DNA Sequencing Market, End-use Outlook (Revenue – USD Billion, 2019-2032)
- Hospitals & Clinics
- Pharmaceutical & Biotechnology Companies
- Clinical Research
- Academic Research
- Others
DNA Sequencing Market, Technology Outlook (Revenue – USD Billion, 2019-2032)
- Next-Generation Sequencing
- Sanger Sequencing
- Third Generation Sequencing
- Others
The research study includes segmental analysis that divides the market into distinct groups or segments based on common characteristics. With market segmentation, businesses can identify specific customer groups that are more likely to be interested in specific products or services. Also, it enables these businesses to focus their marketing efforts and resources more efficiently, leading to higher conversion rates and improved return on investment. Furthermore, segmentation analysis helps companies develop personalized products or services, which can result in increased customer loyalty and improved customer satisfaction.
Recent Developments:
- Ultima Genomics Unveils $100 Human Genome Sequencing: In January 2024, Ultima Genomics announced plans to introduce a high-throughput sequencer capable of sequencing a human genome for just $100. This groundbreaking development has the potential to revolutionize the field of genomics by making DNA sequencing more accessible and affordable.
- Oxford Nanopore and Fabric Genomics Partner: In November 2023, Oxford Nanopore Technologies and Fabric Genomics partnered to develop a comprehensive software solution for the analysis and interpretation of long-read sequencing data. This collaboration will enable researchers to gain deeper insights from complex genomic data.
- Complete Genomics Launches DNBSeq-T20x2 Sequencer: In February 2023, Complete Genomics launched its DNBSeq-T20x2 sequencer, designed for large-scale population genomics initiatives. This high-throughput sequencer utilizes the company’s unique DNA nanoball sequencing technology.
Table of Contents:
- Global DNA Sequencing Market Insights
4.1. DNA Sequencing – Industry Snapshot
4.2. DNA Sequencing Market Dynamics
4.2.1. Drivers and Opportunities
4.2.1.1. Growing demand for personalized medicine is projected to spur the product demand
4.2.1.2. Advancement in Next-Generation Sequencing (NGS) technologies is expected to drive DNA sequencing market growth
4.2.2. Restraints and Challenges
4.2.2.1. High cost of sequencing technologies
4.3. Porter’s Five Forces Analysis
4.3.1. Bargaining Power of Suppliers (Moderate)
4.3.2. Threats of New Entrants: (Low)
4.3.3. Bargaining Power of Buyers (Moderate)
4.3.4. Threat of Substitute (Moderate)
4.3.5. Rivalry among existing firms (High)
4.4. PESTLE Analysis
4.5. DNA Sequencing Industry Trends
4.6. Value Chain Analysis
4.7. COVID-19 Impact Analysis
5. Global DNA Sequencing Market, by Application
5.1. Key Findings
5.2. Introduction
5.2.1. Global DNA Sequencing Market, by Application, 2019-2032 (USD Billion)
5.3. Clinical Investigation
5.3.1. Global DNA Sequencing Market, by Clinical Investigation, by Region, 2019-2032 (USD Billion)
5.4. Oncology
5.4.1. Global DNA Sequencing Market, by Oncology, by Region, 2019-2032 (USD Billion)
5.5. Consumer Genomics
5.5.1. Global DNA Sequencing Market, by Consumer Genomics, by Region, 2019-2032 (USD Billion)
5.6. Agrigenomics & Forensics
5.6.1. Global DNA Sequencing Market, by Agrigenomics & Forensics, by Region, 2019-2032 (USD Billion)
5.7. Metagenomics
5.7.1. Global DNA Sequencing Market, by Metagenomics, by Region, 2019-2032 (USD Billion)
5.8. Epidemiology & Drug Development
5.8.1. Global DNA Sequencing Market, by Epidemiology & Drug Development, by Region, 2019-2032 (USD Billion)
5.9. Others
5.9.1. Global DNA Sequencing Market, by Others, by Region, 2019-2032 (USD Billion)
6. Global DNA Sequencing Market, by Technology
6.1. Key Findings
6.2. Introduction
6.2.1. Global DNA Sequencing Market, by Technology, 2019-2032 (USD Billion)
6.3. Next-Generation Sequencing
6.3.1. Global DNA Sequencing Market, by Next-Generation Sequencing, by Region, 2019-2032 (USD Billion)
6.4. Sanger Sequencing
6.4.1. Global DNA Sequencing Market, by Sanger Sequencing, by Region, 2019-2032 (USD Billion)
6.5. Third Generation Sequencing
6.5.1. Global DNA Sequencing Market, by Third Generation Sequencing, by Region, 2019-2032 (USD Billion)
6.6. Others
6.6.1. Global DNA Sequencing Market, by Others, by Region, 2019-2032 (USD Billion)
Conclusion:
The global DNA sequencing market is poised for explosive growth, driven by rapid technological advancements, increasing research and development activities, and the expanding applications of DNA sequencing across various fields. These developments are transforming our understanding of biology and paving the way for a new era of personalized medicine and scientific discovery.
More Trending Latest Reports By Polaris Market Research:
Identity & Access Management (Iam) Market