The report ‘Global DNA Sequencing Market by product (consumables, instruments and services), technology (Sanger sequencing, Next Generation Sequencing and Third Generation DNA Sequencing), workflow (Pre-sequencing, sequencing, data analysis), application (oncology, reproductive health, clinical investigation, Agri genomics and forensics, HLA typing/immune system monitoring, metagenomics, epidemiology and drug development, consumer genomics and others), end-use (academic research, clinical research, hospitals and clinics, pharmaceutical and biotechnology companies and other users), and by region (North America, Europe, Asia-Pacific, Latin America and the Middle East and Africa) – Global Forecast to 2030’. In 2020, the Global DNA Sequencing Market had revenue of $9 billion in 2020. This share is forecasted to grow at a CAGR of 17.12% in 2030 to $44 billion.
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Key Factors Augmenting the Market Growth
Some of the critical factors that assist in improving the overall market growth are technological advancements in DNA sequencing and increasing applications in clinical diagnosis and drug discovery.
By product, the consumables segment had the maximum market share of about 43% in 2019.
Consumables are a requirement for DNA sequencing. The wide availability of such consumables contributing to library construction has allowed the segment to capture the most significant share in the market.
By technology, the next-generation sequencing (NGS) market had 58.6% of the revenue share in the global market in 2019.
NGS technology has become more advanced, and the decline in the cost of sequencing has made the genome sequencing process quicker. In the NGS market, the whole genome sequencing market is expected to grow significantly from 2021 to 2028.
By workflow, sequencing had the maximum revenue share of 52.9% in 2019.
The sequencing process is key to DNA sequencing. It enables the sequence profiling of the genome and DNA-profile interactions. Thus, sequencing has the maximum revenue share in the DNA sequencing market based on workflow.
By application, oncology has dominated the market with 24.4% in 2019.
DNA sequencing is mainly used in oncology to develop cancer diagnostics and therapeutics, which are in growing demand. The metagenomics, epidemiology and DNA sequencing in the drug discovery market segment is forecasted to grow from 2021 to 2028 at a 17.5% CAGR.
The academic research segment had the most significant revenue share by end-use, with 55.4% in 2019.
Sanger sequencing and NGS are widely accepted in various academic and industrial research projects, which enabled the academic research segment to capture the maximum possible revenue share.
By region, North America had the maximum revenue share with 44.3% in 2019.
The high investment in R&D, availability of technologically advanced healthcare infrastructure, and continuous technology development by the major competitors have increased the North American market share in 2019. The Asia-Pacific region’s revenue share is expected to increase substantially in this market. The Chinese market is forecasted to grow at a CAGR of 19% from 2017 to 2022.
Key Players Existing in the Global DNA Sequencing Market
Recent Developments