Global DNA Sequencing Products Market to Reach US$ 11.4 Billion by 2028, Stimulated by Emergence of Personalized Medicine

August 24, 2023 | Healthcare

According to the latest report by IMARC Group, titled “DNA Sequencing Products Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global DNA sequencing products market size reached US$ 6.3 Billion in 2022. DNA sequencing products are sophisticated scientific tools and services used to determine the order of nucleotide bases, including adenine, guanine, cytosine, and thymine, in a DNA molecule. This fundamental biological process involves various methods and technologies, including Sanger sequencing, next-generation sequencing (NGS), and third-generation sequencing, to produce accurate genomic data. They come in a wide array of forms, such as instruments, reagents, consumables, and software, that are instrumental in conducting this complex process. They form an essential part of laboratories, research institutions, and clinics around the globe, aiding in genetic research, disease diagnosis, personalized medicine, and other medical and scientific endeavors. The information gleaned from DNA sequencing has become vital to modern biology and medicine, revolutionizing our understanding of genetics and its impact on human health and disease.

Global DNA Sequencing Products Market Trends:

The global DNA sequencing products market is experiencing robust growth driven by the escalating prevalence of genetic diseases. Along with this, the growing focus on personalized medicine, which requires comprehensive genetic analysis provided by DNA sequencing, is significantly supporting the market. Also, the continued advancements in sequencing technologies have made the process faster, more affordable, and more accurate, boosting its uptake in various sectors. In addition, the rise in genomic research activities across the globe, underpinned by the growth in funding for genomics-based research projects, is fueling the demand for DNA sequencing products. Apart from this, the escalating interest in precision medicine and biomarker discovery is also contributing to the market growth. Another notable trend is the increased adoption of NGS technologies, which offer high throughput sequencing at a lower cost per base, paving the way for large-scale genomics projects. Furthermore, the emergence of cloud-based solutions for the storage and analysis of sequencing data is propelling the market forward. Looking forward, the market value is projected to reach US$ 11.4 Billion by 2028, expanding at a CAGR of 9.76% during 2023-2028.

Market Summary:

Based on the product type, the market has been segmented into consumables and reagents, and equipments. Amongst these, consumables and reagents represent the largest segment.
On the basis of the application, the market is segregated into biomarkers, diagnostics, reproductive health, personalized medicine, forensics and others. Currently, biomarkers are the most popular application segment.
Based on the end-user, the market has been segmented into academic and government research institutes, pharmaceutical and biotechnology companies, hospitals and clinics, and others. Amongst these, academic and government research institutes represent the largest segment.
Region-wise, the market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Presently, North America accounts for majority of the total global market.
The competitive landscape of the market has also been examined, with some of the key players being Illumina Inc., Thermo Fisher Scientific Inc., F. Hoffmann-La Roche Ltd., Pacific Biosciences of California, Inc. and Beckman Coulter.

Report Coverage:

Report Features	Details
Base Year of the Analysis	2022
Historical Period	2017-2022
Forecast Period	2023-2028
Units	US$ Billion
Scope of the Report	Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment: Product Type Application End-User Region
Product Types Covered	Consumables and Reagents, Equipments
Applications Covered	Biomarkers, Diagnostics, Reproductive Health, Forensics, Personalized Medicine, Others
End-Users Covered	Academic and Government Research Institutes, Pharmaceutical and Biotechnology Companies, Hospitals and Clinics, Others
Regions Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Companies Covered	Illumina Inc., Thermo Fisher Scientific Inc., F. Hoffmann-La Roche Ltd., Pacific Biosciences of California, Inc., Beckman Coulter, etc.
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 2499 Five User License: US$ 3499 Corporate License: US$ 4499
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Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global DNA Sequencing Products Market to Reach US$ 11.4 Billion by 2028, Stimulated by Emergence of Personalized Medicine

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