Segments - DNA Sequencing Services Market Report by Type (Next Generation Sequencing [Whole Genome Sequencing, Targeted Sequencing, and Whole Exome Sequencing], Sanger Sequencing, and Third Generation DNA Sequencing), Application (Oncology, Reproductive Health, Clinical Investigation, Consumer Genomics, HLA Typing, and Others), End-User (Hospitals, Diagnostic Centers, Clinical Research, Academic Research, and Research Institutes), and Region (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Share, Growth, Size, Global Industry Analysis, Trends, and Forecast 2023 – 2031
The global DNA sequencing services market size was valued at USD 9.65 Billion in 2022 and is likely to reach USD 35.42 Billion by 2031, expanding at a CAGR of 14.4% during the forecast period, 2023–2031. The market growth is attributed to the growing adoption of whole-genome sequencing for diagnostic purposes.
The rapid surge in the adoption of whole genome sequencing by several research and health institutes is expected to fuel the demand for DNA sequencing services as it provides detailed and precise data for identifying outbreaks sooner. It allows researchers and practitioners to characterize bacteria and detect genetic disorders in unborn children.
Whole-genome sequencing is a comprehensive method for analyzing entire genomes. Scientists use whole genome sequencing to decipher the genetic material found in an organism or virus.
For instance, on March 17, 2022, the National Health of Institute research program released the first genomic dataset of nearly 100,000 whole genome sequences to address unanswerable questions about health and disease, leading to new discoveries.
DNA Sequencing is the process of identifying the order of four bases in a strand of DNA. The order of strand bases are adenine, guanine, cytosine, and thymine. It is a highly accurate and high-throughput process. DNA sequencing allows healthcare practitioners to determine if a gene contains variants or mutations, linked to a disorder.
Sequencing is utilized in molecular biology to study genomes and the proteins encoded. Insight from sequencing allows researchers to identify noncoding DNA, associated with diseases and phenotypes, and identify potential drug targets.
DNA sequencing coupled with artificial intelligence is a lucrative opportunity in the market. The application of AI algorithms is utilized to analyze and interpret genetic data obtained from different sources, including gene expression profiling and DNA sequencing. The AI algorithm is used to process complex and large genomic datasets.
It offers researchers or scientists to identify genetic mutations, predict drug responses, and the disease causes. AI-powered DNA sequencing gains a deeper insight into the genetic mechanisms underlying health and disease, leading to the development of new therapies and drugs.
The COVID-19 pandemic propelled the market. The demand for DNA sequencing increased to identify the virus spread. DNA sequencing helped vaccine manufacturers and public health official researchers by offering critical evidence related to the COVID-19 virus. World Health Organization (WHO) recommended that nations need to speed up genome sequencing and share genomic data and findings in a coordinated way, which further boosted the market.
For instance, in April 2020, the Government of the UK formed the COVID-19 Genomics UK Consortium (COG-UK) to collect, sequence, and analyze SARS-CoV-2 genomes to understand viral transmission and evolution. Similarly, on December 30, 2020, INSACOG was formed by the Government of India with IMCR and CSIR to sequence and monitor SARS-CoV-2 genomic variations.
Increasing prevalence of cancer is projected to drive the market. DNA sequencing technology is used in the diagnosis of cancer as it allows doctors and oncologists to identify specific cancer types and provide effective treatment. For instance, on February 3, 2022, WHO published a report stating that cancer is the leading cause of death worldwide, accounting for 10 million deaths in 2020 or nearly 1 in 6 deaths.
The growing adoption of precision medicine is anticipated to drive the market. DNA sequencing is used in precision medicine to draw information regarding the disease and its risk by separating people into groups. It offers personalized diagnostics, disease risk assessment, and treatment selection. Major hospitals and research institutes are working to expand the branch of precision medicine.
For instance, on August 12, 2022, Mount Sinai, a hospital chain in New York, partnered with Regeneron Genetic Centre and launched genetic sequencing project to enhance precision medicine research.
The high capital investment cost of advanced instruments is restricting market growth. Despite of declining cost of sequencing hospitals, academic institutes, and research institutes are unable to avail of the latest instrument owing to budget constraints. Furthermore, whole genome sequencing generates data on a large scale, which requires additional storage devices and takes more time to analyze, resulting in hindering the market.
Increasing adoption of agricultural genomics creates lucrative opportunities in the market as DNA sequencing is utilized in agricultural genomics to enhance crop breeding, develop sustainable farming practices, and improve livestock health. Moreover, rising technological advancements in next-generation technology is an immense opportunity in the market. Next-generation sequencing technology determines the order of nucleotides in the entire DNA and provides ultra-high scalability and speed.
The market report includes an assessment of the trends, market, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes |
Details |
Report Title |
DNA Sequencing Services Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year |
2022 |
Historic Data |
2016–2021 |
Forecast Period |
2023–2031 |
Segmentation |
Type (Next Generation Sequencing [ Whole Genome Sequencing, Targeted Sequencing, and Whole Exome Sequencing], Sanger Sequencing, and Third Generation DNA Sequencing), Application (Oncology, Reproductive Health, Clinical Investigation, Consumer Genomics, HLA Typing, and Others), and End-User (Hospitals, Diagnostic Centers, Clinical Research, Academic Research, and Research Institutes) |
Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast |
Key Players Covered in the Report |
PierianDx; Eurofins Scientific; BGI; Bio-Rad Laboratories, Inc.; Myriad Genetics, Inc.; PerkinElmer Inc.; Macrogen, Inc.; Illumina, Inc.; QIAGEN; Thermo Fisher Scientific Inc.; 23andMe, Inc.; Helix OpCo, LLC; Human Longevity, Inc.; and Guardant Health. |
Based on product, the DNA sequencing services market is divided into next-generation sequencing, sanger sequencing, and third-generation DNA sequencing. The next-generation sequencing segment held a large market share in 2022, owing to its low cost, high scalability, and accuracy.
The growing prevalence of cancer is projected to propel segment growth as next generation sequencing allows clinicians to test many genes of cancer simultaneously and detect rare and novel cancer mutations to provide a molecular rationale for appropriate targeted therapy. Additionally, companies are developing new technologies and applications for next-generation sequencing.
Third-generation DNA sequencing is anticipated to grow at a significant pace during the forecast period due to its ability to detect DNA modification without the aforementioned assay. Moreover, it offers single-molecule real-time sequencing of longer reads.
This type of sequencing does not require polymerase chain reaction (PCR) amplification and includes easy sample preparation for efficiency. Furthermore, it detects repetitive sites of complex genomes by producing lengthy reads longer than several kilobases.
On the basis of application, the global market is segregated into oncology, reproductive health, clinical investigation, consumer genomics, HLA typing, and others. The oncology segment held a large market share in 2022 and is expected to expand at a considerable CAGR during the assessment period, owing to the increasing prevalence of cancer across the globe as DNA sequencing helps oncologists in identifying the type and severity of cancer.
The consumer genomics segment is projected to grow at a rapid pace during the projected period due to its potential benefit to provide information such as disease risk, health, and other symptoms of individuals without the approval of healthcare providers or health insurance companies. It allows individuals to take preventive measures to lessen the risk of disease.
In terms of end-user, the DNA sequencing services market is categorized into hospitals, diagnostic centers, clinical research, academic research, and research institutes. The clinical research segment accounted for a large market share in 2022 and is anticipated to grow at a quick pace in coming years owing to the rising number of clinical research centers and increasing investment in R&D activities. Moreover, the rising demand for precision medicine and the increasing number of alliances between leading companies and clinical research institutes is to propel the segment growth.
The research institutes are expected to witness a high CAGR growth over the projected period due to the wide adoption of DNA sequencing to gain genetic information. Scientists and researchers use sequence information to determine, which stretches of DNA contain genes. Moreover, sequence data help researchers to highlight changes in a gene, which may cause disease.
Based on region, the global market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America dominated the market in 2022 and is projected to register a considerable CAGR in the coming years, due to the ongoing research for drug development. Moreover, the presence of established healthcare infrastructure and research institutes is projected to boost market growth.
The market in Asia Pacific is estimated to witness quick growth during the forecast period, due to the high prevalence of chronic diseases, increasing investment in drug discovery, and ongoing research on genome sequencing techniques. Moreover, increasing healthcare spending by the government is expected to drive the market.
For instance, the Indian government intends to expand public health spending by 2.5% of country’s GDP by 2025.
The DNA sequencing services market has been segmented on the basis of
Key players competing in the global market are PierianDx; Eurofins Scientific; BGI; Bio-Rad Laboratories, Inc.; Myriad Genetics, Inc.; PerkinElmer Inc.; Macrogen, Inc.; Illumina, Inc.; QIAGEN; Thermo Fisher Scientific Inc.; 23andMe, Inc.; Helix OpCo, LLC; Human Longevity, Inc.; and Guardant Health.
These companies adopted development strategies including collaboration, product launches, mergers, acquisitions, partnerships, and production expansion to expand their consumer base worldwide. For instance,
On September 20, 2022, Pierian entered into a collaboration with Genome Medical to optimize and streamline genomic testing programs for healthcare organizations and provider groups.
On July 11, 2021, Qiagen entered into a strategic alliance with Sysmex Corporation for the development and commercialization of cancer companion diagnostics through next-generation sequencing.
On December 28, 2020, Eurofins Genomic launched SARS-CoV-2, a full-length viral genome sequencing service essential in the identification of viral mutation.