The global DNA sequencing services market is anticipated to rise sharply and amount to US$2,080.2 million by 2033. This significant increase from its US$945.6 million base in 2023 is the outcome of an 8.2% compound annual growth rate (CAGR).
Because they enable the analysis of genetic material and the discovery of variants, mutations, and biomarkers associated with a range of disorders, including cancer, DNA sequencing services are crucial to the field of genomics. These services encompass a broad spectrum of sequencing methodologies and procedures, offering physicians, researchers, and pharmaceutical companies enlightening details on the genetic origins of illnesses and personalized therapeutic strategies.
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The primary driver of the expected growth of the global market for DNA sequencing services is the rising incidence of cancer across the globe. The need for precision medical techniques and state-of-the-art genetic technologies to enhance diagnosis, prognosis, and treatment results is growing along with the global cancer patient population. The use of DNA sequencing services in oncology is being driven by researchers’ and doctors’ ability to define tumors, discover promising therapeutic targets, and create individualized therapy regimens based on individual genetic profiles.
DNA Sequencing: Unlocking the Secrets Within
The order of the four building units of DNA—adenine (A), thymine (T), guanine (G), and cytosine (C)—can be determined via DNA sequencing, a potent technology. Interestingly, A and C always pair with T and G, respectively. Deciphering the base pair sequence is essential to obtaining an individual’s genetic code. This information holds immense potential for various applications, including:
- Identifying regulatory instructions within DNA
- Pinpointing the location of genes
- Understanding the genetic underpinnings of diseases
Top Highlights from the FMI’s Analysis of the DNA Sequencing Services Market:
•The North American region is expected to account for the leading market share of more than 40.6% in 2023, followed by Europe, which is projected to account for 32.4% in the same year.
•The United Kingdom is forecast to expand at a CAGR of 12.9% over the estimated period, suggesting significant business avenues that the country is expected to present.
•India is anticipated to record a CAGR of 8.5% over the forecast period, whereas China is forecast to propel at a CAGR of 7.8%. DNA sequencing services are expected to increase in the region to meet the increasing medical demands of the population.
•Japan is forecast to account for a market share of 2.7%, comparatively lower than the other competitive markets. However, the market is expected to offer diverse growth opportunities to businesses.
•Based on solutions and services, the data analysis and sequencing services segment is forecast to account for 41.8% of the global market.
•Under the end-user category, the academic institutes and research centers segment is anticipated to record more than 37.7% over the forecast period.
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Market Competition:
Illumina Inc., Thermo Fischer Scientific Inc., Oxford Nanopore Technologies Plc, Agilent Technologies, Inc., QIAGEN, Eurofins Scientific, F. Hoffmann-La Roche Ltd., Takara Bio Inc., GENEWIZ, Inc., Hamilton Company, Macrogen Inc., Zymo Research Corporation, and Tecan Trading AG are a few of the major players in the global DNA sequencing services market.
Owing to the involvement of multiple prominent players, the industry exhibits intense competition. International firms like Oxford Nanopore Technologies plc, Thermo Fischer Scientific Inc., and Illumina Inc. In addition to making up a sizeable portion of the market, a number of regional players are active in important growing areas, mainly in North America.
Recent Developments
- In December 2020, Eurofins Genomics released SARS-CoV-2 NGS services that are both cost-effective and optimized, allowing for entire viral genome sequencing.
- In May 2020, Roche introduced the KAPA Target Enrichment portfolio and the KAPA HyperExome whole-exome research panel for target enrichment during sequencing.
- Illumina recently received Emergency Use Authorization (EUA) from the FDA for its COVIDSeq Test, which is used to sequence the entire genome of the novel SARS-CoV-2 virus.
- Face2Gene LABS was launched in June 2019 by PerkinElmer, Inc. and FDNA, an artificial intelligence company, to provide genomic services in conjunction with Next-Generation Phenotyping (NGP) technologies for more accurate and efficient diagnoses.
Key Segments Profiled in The DNA Sequencing Services Industry Survey:
By Product Type:
- Maxam–Gilbert DNA Sequencing
- Chain-Termination Methods
- Dye-Terminator Sequencing
- Automation and Sample Preparation
- Large-scale DNA Sequencing
- New DNA Sequencing Methods
- High Throughput DNA Sequencing
- Parallel Signature Sequencing (MPSS)
- Polony Sequencing
- Pyrosequencing
- Illumina (Solexa) Sequencing
- SOLiD Sequencing
- Others
By End Use:
- Automotive Industry
- Chemical Industry
- Agriculture
- Oil and Gas
- Research and Development
- Other End Uses
By Application:
- Hospitals
- Diagnostic Centers
- Biotechnology and Pharmaceutical Industry
- Academic Research Institutes
- Other Application Areas
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- The Middle East & Africa
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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