DNA Sequencing Market Size 2024-2028

The Global DNA Sequencing Market size is estimated to grow by USD 17.34 billion at a CAGR of 20.01% between 2023 and 2028. 

Increasing affordability of DNA sequencing Is a key factor driving market growth. Cost serves as a major factor in any market. Due to numerous advances in technology, the market has seen a significant drop in cost over the past few years. The NHGRI has gathered a lot of information on DNA sequencing costs for many years through the sequencing centers funded by the Institute. The NHGRI has indeed been able to analyze and summarize information obtained, enabling an assessment of advances in DNA genotyping technology, including biochip innovations This assessment is crucial for various aspects of healthcare, including the healthcare framework, sequencing platforms, genetic information, personalized medicine, clinical diagnostic laboratories, and clinical diagnosis. In the past, the cost structure involved a lot of ambiguity, which left it unclear whether the cost included any of the steps to sequence or just a sequencing run. Thus, as a solution to this problem, a new all-inclusive approach was developed. This approach gives better insights into the cost structure of a prioritizing project and aids end-users and funding agencies in improving their research plans. 

What will be the Size of the Market During the Forecast Period?

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Market Segmentation

The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2023 for the following segments

• End-user Outlook 
  • Academic research
  • Clinical research
  • Hospitals & clinics
  • Pharmaceutical & biotechnology comp.

• Solution Outlook 
  • Products
  • Services

• Region Outlook 
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • Asia
    • China
    • India
  • Rest of the world
    • Argentina
    • Australia
    • Brazil

End-user Analysis

The market share growth by the academic research segment will be significant during the forecast period. Academic research held the largest market share in the market in 2022. The evolution of the academic research segment is being driven by factors including high interest in innovative work in DNA sequencing and the government.

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The academic research segment was valued at USD 3.31 billion in 2018. High-quality data generated from genome sequencing projects helps researchers find novel targets for drug development and a better understanding of human disease pathogenesis. The increased demand for higher-resolution DNA sequences is expected to propel the university research sector, which, in turn, will fuel the growth of the market during the forecast period.

Solution Analysis 

The products segment held the largest market share in 2022 in terms of market segmentation by solutions due to the increasing demand for consumables in academic organizations and research centers and their expanding use in a wide range of genetic testing procedures. Based on products, the market can be divided into consumables and instruments. In 2022, the consumables segment held the largest market share among products. For studies on epigenetics and chronic disease, DNA sequencing consumables are used for various purposes, including sample preparation as well as the production of sequence libraries. DNA sequencing is increasingly used to analyze the genetic impact of doxorubicin, helping researchers understand its efficacy and potential resistance mechanisms in cancer therapy. The introduction of user-friendly tools, such as portable DNA sequencers, and the fast-growing volume of genomics-based R&D enterprises, are driving the sales of these instruments. Due to these factors, the products segment is expected to retain its leading position in the market during the forecast period.

The services segment is expected to demonstrate the fastest growth during the forecast period. This can be attributed to the development of various bioinformatics tools and software, as well as the increasing dependence on outsourcing.  Outsourcing services will be more cost-effective because companies no longer have to make substantial investments in establishing facilities and are then expected to absorb the subsequent maintenance and operational costs. Thus, these factors are also prompting more companies to offer services. Another reason for the segment's rapid growth is the increasing liking among most research centers and academic organizations to outsource NGS-related projects to CROs. The use of NGS technology generally requires large capital investments and a large lab footprint. Hence, large labs with specific DNA prioritizing needs or small and medium-sized laboratories generally choose to outsource to a dedicated service facility. Due to these factors, the products segment is expected to retain its leading position in the market during the forecast period.

Regional Analysis

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North America is estimated to contribute 36% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers will shape the market during the forecast period. North America accounted for the largest market share in 2022 and is expected to retain its market-leading position throughout the forecast period. This can be attributed to the rising incidence of chronic diseases, increasing healthcare expenditure, and the existence of several key companies in the region. Several leading biotechnology and life sciences companies have their headquarters in the US and Canada.

Moreover, the demand to develop medicines in North America is also driven by the large number of studies carried out. The reagents have widespread applications in clinical trials for the identification of potential drug target spots in the genome as well as in the evaluation of the safety and efficacy of novel treatments. Thus, the large number of clinical trials conducted in the US will further increase the demand in the region. Hence, such factors are driving the market in North America during the forecast period.

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Key Market Players 

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:

10X Genomics Inc. - The company offers DNA sequencing such as Linked Reads genomics it provides contextual information about the genome from short reads.

Abbott Laboratories, Agilent Technologies Inc., Azenta Inc., Becton Dickinson and Co., BGI Genomics Co. Ltd., Bio Rad Laboratories Inc., Danaher Corp., Eurofins Scientific SE, F. Hoffmann La Roche Ltd., Illumina Inc., Laboratory Corp. of America Holdings, Macrogen Inc., Merck KGaA, Pacific Biosciences of California Inc., PerkinElmer Inc., QIAGEN NV, SeqLL Inc., Tecan Trading AG, and Thermo Fisher Scientific Inc.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Market Dynamics and Customer Landscape

The market is driven by advancements in sequencing platforms and high-throughput technologies, enabling rapid whole-genome sequencing and analysis of genetic variation and gene expression. This is crucial for precision medicine and personalized medicine, particularly in oncology and pharmacogenomics. The market caters to clinicians and clinical diagnostic laboratories, offering insights for clinical diagnosis, drug discovery, and reproductive health. Biomarkers play a key role in identifying genetic variations, aiding in forensics and reproductive health. As the demand for DNA sequencing grows, benchtop sequencers are becoming more popular for their sequencing speed and accessibility to genetic information. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. 

Key Market Drivers

The growing adoption of NGS is driving growth in the market. Next-Generation Sequencing has made it possible to sequence the entire human genome in a day and is revolutionizing genomic research by massively parallel DNA sequencing. NGS is increasingly used in the diagnosis and treatment of several prevalent chronic diseases, such as cancer and infectious diseases. 

Next-Generation Sequencing (NGS) technology indeed plays a crucial role in detecting sequence variations effectively and providing various genetic markers, including common and rare variants. This capability has accelerated the adoption of NGS technology in various fields, including gene expression studies, clinical diagnosis, and whole-genome sequencing, enhancing our understanding of DNA variations. The ability to conduct DNA sequencing simultaneously, which makes it easier and more precise in treating diseases because of earlier diagnosis and detection, constitutes one factor that is driving the increased adoption of NGS. The wide use of NGS in DNA sequencing and its growing adoption among end-users are expected to drive the growth of the market during the forecast period.

Significant Market Trends

The automation of DNA Sequencing is a key trend in the market. It is a repetitive, complex, and long process to determine the full nucleotide sequence of large DNA molecules, making it an excellent area for automation. Automated sequencing has been developed to sequence large quantities of DNA using the principle of the Sanger chain-termination method. The automation of these machines has led to the rapid development of computer software for analyzing, assembling, and manipulating DNA sequences.

Moreover, automated equipment eliminates the use of radioactive isotopes for labeling DNA by employing a fluorescent dye to label the nucleotides instead. These fluorescent dyes, in conjunction with Deoxynucleotide Triphosphates (dNTPs), do not pose environmental risks and do not require special handling or disposal. This shift towards automation in molecular biology techniques, facilitated by dNTPs and fluorescent dyes, is gaining prominence and is expected to positively impact market growth during the forecast period. Automation enhances efficiency, reduces labor costs, and improves workflow consistency in DNA labeling and sequencing processes. As laboratories adopt automated systems that incorporate dNTPs and fluorescent dyes, the market for these technologies is anticipated to expand, driven by the demand for safer, more efficient, and environmentally friendly solutions in genetic research and diagnostics.

Major Market Challenges

The inadequate resources for DNA sequencing in developing countries is a major challenge faced by the market.  Advanced technologies in DNA technology have made it possible to increase the accuracy of investigative investigations and reduce overall sequencing costs significantly, thereby increasing its use and increasing applications. However, they remains largely underutilized in developing countries, leading to limited R&D funding. This can be attributed to factors such as a lack of skillful personnel, the high costs associated with establishing and continuing a sequencing facility, the low quality of outsourcing services, and the limited access to tools for genomic data analysis and manipulation.

However, the lack of human development and education capacity in emerging countries creates a barrier to market growth by failing to provide adequate training. Furthermore, genomic data analysis and manipulation have become crucial tools for genomic research. Moreover, outsourcing businesses in many evolving countries provide low-quality services, with the risk of the entire outsourcing procedure failing at any stage, which, in turn, leads to losses in terms of both time and cost. Hence, the availability of limited resources for DNA sequencing in developing countries will be a major challenge for the growth of the market in focus during the forecast period.

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Market Customer Landscape

The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

 Customer Landscape

Market Analyst Overview

The market continues to evolve with advancements in third generation DNA sequencing technologies like Nanopore Sequencing, offering rapid and accurate tertiary analysis of genetic material. Artificial intelligence and machine learning are playing vital roles in consumer genomics and clinical testing procedures, improving the understanding of tumor heterogeneity and enabling more precise immune system monitoring. Techniques such as Sanger Sequencing, Whole Genome Sequencing, and Whole Exome Sequencing are pivotal in Agrigenomics, Forensics, and Biopharmaceuticals, driving demand for benchtop sequencer and skilled professionals in research labs. The market's expansion is also fueled by its applications in Metagenomics, Epidemiology, and various diagnostics.

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What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the between 2023 and 2028
• Precise estimation of the size and its contribution n of the market in focus to the parent market
• Detailed market growth and forecasting analysis of customer landscape covering Diver of price sensitivity, Adoption of the lifecycle, and key purchase criteria 
• Companies landscape comparing criticality of inputs and factors of differentiation
• Exclusive Matrix on companies position and classification
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the market industry across North America, Europe, Asia, and Rest of World (ROW)
• Thorough market forecasting analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive market forecast analysis of factors that will challenge the growth of companies

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