DNA Sequencing Market Is Expected to Grow at a CAGR of 18.61% During the Forecast Period 2023-2030

USD Analytics | DNA Sequencing Market
The United States, North American region dominates the DNA sequencing market. Europe is another prominent region in the market for DNA sequencing. Countries like the United Kingdom, Germany, France, and Switzerland have a strong presence of sequencing companies, research institutes, and academic centers. The Asia Pacific region has seen significant growth in the market in recent years

DNA Sequencing Market Overview

According to the USD Analytics published latest research report, the global “DNA Sequencing Market” is expected to grow at a tremendous CAGR of 18.61% during the forecast period 2023-2030.

DNA sequencing is a laboratory technique for determining the nucleotide adenine (A), cytosine (C), guanine (G), and thymine (T) sequences in a DNA molecule. A sample of the DNA to be sequenced is created. Polymerase chain reaction (PCR) is then used to amplify the target sequence. The resulting amplicons are then completely purified, followed by DNA sequencing preparations. The DNA is subsequently sequenced to collect the necessary data, which is then extensively evaluated. The National Human Genome Research Institute (NHGRI) has announced that all humans have 99.9% same genetic composition. The remaining 0.1% is researched using DNA sequencing to discover illness causes. This method has many applications in molecular biology, evolutionary biology, metagenomics, virology, medicine, and forensics.

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Market Drivers:

Advances in DNA sequencing technology, expanded applications in clinical diagnostics and drug development, and higher R&D spending are some of the reasons driving market expansion. DNA sequencing may benefit from diagnostics, customized medicine, biomarkers, forensics, reproductive health, and other fields. DNA sequencing technology has enormous promise in cancer diagnosis and therapies clinical research. Next-generation sequencing (NGS) technology has recently proved its capability as a high-throughput and cost-effective method for identifying and characterizing clinically relevant genetic variations across several genes in a single test. DNA sequencing technologies have improved to be used in clinical diagnostic laboratories and research labs to yield high-quality findings, according to a study report published in the Journal of Pure and Applied Microbiology in June 2022. It facilitates the discovery of novel therapeutic and diagnostic targets, widening the scope of patient treatment. As a result, the growing use of DNA sequencing in clinical diagnostics and drug development will likely fuel market expansion throughout the forecast period.

Market Restraints:

However, interpreting complex data and a scarcity of experienced specialists may limit market development throughout the projection period.

Market Trends:

Factors such as expanding NGS applications, speed, affordability, accuracy, efficient replacement of conventional technologies, and drug discovery applications requiring NGS technology are driving the Next-generation Sequencing (NGS) sector. The benefit of this technology is that it is substantially cheaper, faster, and uses significantly less DNA, which aids in the segment’s overall growth.

Various technical breakthroughs in the area of medicine are accelerating, leading to the creation of customized treatments. For example, in October 2022, the CDC awarded funding to the American Society for Microbiology (ASM) to give NGS training. ASM will certainly develop and provide recognized training to educate the clinical microbiology workforce on NGS technology, increase pathogen genomic sequencing capacity, and prepare for the next pandemic utilizing sophisticated molecular methods. It is also expected to educate ASM’s bioinformatics partners about infectious illnesses, helping them better understand the impact of science and technology on public health. Such incidents are projected to raise NGS awareness, increasing demand for the sector under consideration.

Recent Industry Developments:

In October 2022: PacBio announced the availability of two genome sequencing systems, the Revio long-read sequencing system, and the Onso short-read sequencing system, in October 2022. Revio also has deep-learning algorithms for detecting DNA methylation in conventional sequencing libraries.
In March 2022: Element Biosciences disclosed technical information regarding their long-awaited Aviti DNA sequencer in March 2022. The new benchtop equipment uses a variation on sequencing-by-synthesis chemistry, which Element claims decreases reagent consumption and costs about USD 7 per Gb.

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Segmentation Analysis:

As per the research an analysis, the global DNA sequencing market is segmented by product type into instruments, consumables, and other product types; by sequencing type into sanger sequencing, next-generation sequencing, and other sequencing types; by application into diagnostics, personalized medicine, and other applications; by end user into hospitals and healthcare organizations, academics and research institutions, pharmaceutical and biotechnology companies, and other end users.

Based on product type the global DNA Sequencing market has been segmented into instruments, consumables, and other product types. The consumables category had the largest global DNA sequencing market share. The availability of ready-made components for the DNA sequencing procedure is the primary reason for the large market share of consumables. Other factors, such as increased DNA sequencing applications, are predicted to enhance the use of consumables such as kits and reagents throughout the projection period.

Regional Analysis:

The global DNA sequencing market is segmented into North America, Europe, South America, Asia Pacific, and Middle East & Africa.

North America DNA Sequencing Market

North America led the market due to increased government and non-government financing and support operations, particularly in the United States. The rising use of new technologies and favorable government and policy backing are the key driving factors for the country’s DNA sequencing market expansion.

The industry is predicted to develop due to technological advancements in DNA sequencing and product releases. For example, Roche announced the AVENIO Edge System in December 2021 to simplify and automate next-generation sequencing sample processing, eliminate human error, and promote precision medicine.

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Competitive Landscape:

The major companies included in the global DNA Sequencing market are Agilent Technologies Inc., Bio-Rad Laboratories Inc., Danaher Corporation, Eurofins Scientific, F. Hoffmann-La Roche, Illumina Inc., Merck KGaA, Pacific Biosciences of California Inc., PerkinElmer Inc., and Thermo Fisher Scientific Inc.

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