DNA Sequencing Products Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024
The global DNA sequencing products market was worth around US$ 4 Billion in 2018, registering a CAGR of 15.8% during 2011-2018. The market is further projected to cross US$ 9 Billion by 2024, growing at a CAGR of 15.2% during 2019-2024. DNA sequencing is the process used for calculating the precise sequence of the four nucleotide bases within a DNA molecule, namely, cytosine, adenine, thymine and guanine. It plays an important role in mapping out the human genome as well as helps in various applied research applications. In line with this, DNA sequencing products are gaining popularity in the pharmaceutical industry as they assist researchers in understanding complex diseases and, in turn, develop personalised medicines for patients. Additionally, DNA profiling has become an integral part of forensic science as these profiles enable investigators to identify and distinguish multiple samples from a pool of DNA.
Global DNA Sequencing Products Market Drivers:
Genome mapping and sequencing of microorganisms have enabled agriculturists to use them for crops and food plants. Over the past few years, specific genes of bacteria have been used in food plants to improve their resistance against insects and pests which has increased their productivity and nutritional value. In addition to this, genomes of several domesticated livestock animals, such as chicken, pig, cow, sheep, and horse, have also been partially or completely sequenced and proven to be useful in the production of livestock with enhanced quality of meat and milk.
The role of DNA sequencing in the in-vitro diagnostics market, particularly for point-of-care diagnostics, is expected to gain momentum. DNA sequencing enables the development of precision medicine in order to offer specific treatments or therapies to patients. It also provides various platforms that enable genetic sequencing and analysis of DNA data at the point-of-care with high accuracy and rapid diagnosis.
Researchers and instrument developers have produced an array of DNA sequencing technologies which offer faster sequencing with higher accuracy at lower costs. For instance, one of the primary market players in the field, Illumina, has launched a system that consists of 10 ultra-high-throughput sequencers and can sequence about 18,000 human genomes per year.
Researchers are now using innovative technologies for genome mapping that take lesser time for completion. Other than this, the reduction in sequencing costs has led many companies to invest in R&D activities and offer cost-effective solutions such as whole genome sequencing, de novo sequencing and specific disease diagnosis.
Breakup by Product Type:
On the basis of the product type, the market has been segmented into consumables and reagents, and equipments. Currently, consumables and reagents represent the largest segment as they generate a higher return-on-investments.
Breakup by Application:
DNA sequencing products find applications across various sectors including biomarkers, diagnostics, reproductive health, personalised medicine and forensics. Amongst these, biomarkers are the most popular application segment of DNA sequencing products as they help in predicting treatment outcomes.
Breakup by End-Use:
Based on the end-use, the market has been segregated into academic and government research institutes, pharmaceutical and biotechnology companies, and hospitals and clinics. At present, DNA sequencing is majorly being used in academic and government research institutes owing to the presence of a large number of research and development projects which involve the practical implementation of data analysis and next-generation sequencing.
On a geographical front, North America accounts for the majority of the total global DNA sequencing products market. This can be accredited to the growing geriatric population, prevalence of several chronic diseases and presence of prominent drug manufacturers in the region. North America is followed by Europe, Asia Pacific, Latin America, and Middle East and Africa.
The nature of the market is fragmented with the presence of numerous small and large manufacturers who compete in terms of prices and quality. Some of the leading players operating in the market are:
Thermo Fisher Scientific Inc.
Pacific Biosciences of California, Inc.
Key Questions Answered in This Report:
How has the global DNA sequencing products market performed so far and how will it perform in the coming years?
What are the key regions in the global DNA sequencing products market?
Which are the popular product types in the global DNA sequencing products market?
What are the key application segments in the global DNA sequencing products market?
What are the major end-use sectors in the global DNA sequencing products market?
What are the various stages in the value chain of the global DNA sequencing products market?
What are the key driving factors and challenges in the global DNA sequencing products market?
What is the structure of the global DNA sequencing products market and who are the key players?
What is the degree of competition in the global DNA sequencing products market?
How are DNA sequencing products manufactured?
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook