According to a new report published by Allied Market Research, titled,”DNA Sequencing Market by Product, Application, Technology, and End User: Global Opportunity Analysis and Industry Forecast, 2017 – 2025,”the global DNA sequencing market was valued at $6,243 million in 2017, and is projected to reach $25,470 million by 2025, growing at a CAGR of 19.0% from 2017 to 2025.
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The major companies profiled in the report include Abbott Laboratories, Agilent Technologies, Inc., Danaher Corporation (Beckman Coulter, Inc.), F. Hoffmann-La Roche Ltd; Illumina, Inc., LI-COR Biosciences, Inc., Pacific Biosciences of California, Inc., Siemens AG, PerkinElmer Inc., and Thermo Fisher Scientific, Inc. The other prominent players in the value chain (but not included in the report) include Eurofins Scientific, Gatc Biotech AG, Macrogen, Inc., Oxford Nanopore Technologies, Ltd., Bio-Rad Laboratories, Inc., DNASTAR, Inc., Biomatters Ltd., New England Biolabs, Inc., and Myriad Genetics, Inc.
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- Based on product, the instrument segment is anticipated to grow at the highest CAGR from 2017 to 2025.
- Based on application, the personalized medicine application segment is expected to witness the highest growth rate during the forecast period.
- Based on end user, the research institutes segment generated the highest revenue in 2017 and is expected to continue its dominance in the future as well.
- Based on region, North America dominated the global DNA sequencing market, and is projected to grow at a CAGR of 15.9%.
- Based on technology, the pyrosequencing technology segment is expected to witness the highest growth rate during the forecast period.
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The major factors that drive the global DNA sequencing market are rise in technological advancements in DNA sequencing, growth in collaborations & partnerships, and increase in genome mapping programs globally. In addition, rise in investment in R&D enhances the demand for DNA sequencing and thereby provides lucrative opportunities for the market growth. However, accuracy & standardization concerns and ethical & legal limitations associated with DNA sequencing restrain the market growth.
The consumables product segment occupies the highest share in the DNA sequencing product market, owing to their sheer usage and need throughout the sample preparation, library construction, and other pre-requisite steps of DNA sequencing. The sequencing by synthesis technology segment is anticipated to dominate the global DNA sequencing market as most of the widely-used DNA sequencing platforms utilize this technology in sequencing protocols. This segment accounted for nearly two-fifths of the total share in 2017
Based on application, the biomarkers and cancer segment dominates the market and the personalized medicine segment is expected to grow at a CAGR of 26.7%. DNA sequencing possesses the potential to recognize a broad spectrum of genetic differences and supplement the generation of potent biomarkers in medicine and disease diagnostics. In addition, sequencing time, protocol length, and declining cost of DNA sequencing make it an ideal technology for biomarker discovery
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