The latest report by IMARC Group, entitled “DNA Sequencing Products Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” finds that the global DNA sequencing products market reached a value of US$
6.3 Billion in 2022. DNA sequencing refers to a set of technologies and techniques used for validating the precise order of nucleotides in a DNA molecule. These techniques find the sequence of the four DNA bases, namely cytosine, thymine, adenine, and guanine. DNA sequencing plays a crucial role in mapping out the human genome, due to which it is widely applied in the pharmaceutical industry. It is also utilized in various research applications, such as forensic sciences, species discovery, hereditary disease detection, agrigenomics, and phylogenetic analysis.
Global DNA Sequencing Products Market Trend:
The growth of the global DNA sequencing products market is primarily attributed to the rising use of genome mapping and sequencing of microorganisms in agriculture and livestock production. The identification of specific bacteria genes improves crop production and enhances the quality of meat products. Moreover, DNA sequencing in the in-vitro diagnostics market has created opportunities for pharmaceutical companies to develop medicine and offer specific treatments to individual patients. Additionally, rapid advancements in bioinformatics and sequencing technology have enabled faster sequencing with higher accuracy, which is propelling the market growth. Widescale research and development (R&D) in the application of whole-genome sequencing (WGS) and next-generation sequencing (NGS) in clinical diagnosis has attracted numerous investors, which is supporting the market growth further. Looking forward, the market value is projected to reach US$ 11.4 Billion by 2028, growing at a CAGR of
9.76% during 2023-2028.
- Based on the product type, the market has been segmented into consumables and reagents, and equipment. Currently, consumables and reagents account for majority of the market share.
- On the basis of the application, biomarkers represent the leading segment.
- The market has also been segregated on the basis of the end user into academic and government research institutes, pharmaceutical and biotechnology companies, hospitals and clinics, and others. At present, DNA sequencing is majorly utilized in academic and government research institutes.
- Region-wise, North America enjoys the leading position in the market. This can be accredited to the growing geriatric population, prevalence of several chronic diseases and the presence of prominent drug manufacturers in the region.
- The competitive landscape of the market has also been analyzed, 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, Inc.
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