The DNA Sequencing Market was valued at $9.14 billion in 2023. This market is expected to reach $21.30 billion by 2031, from an estimated $9.78 billion in 2024, at a CAGR of 11.8% during the forecast period 2024-2031.
DNA Sequencing Market Size & Forecast
Key factors driving the growth of this market include decreasing sequencing costs, rising incidence of cancer and genetic disorders, the increasing utilization of DNA sequencing in precision medicine, rising R&D investments by pharmaceutical companies, favorable regulatory & reimbursement frameworks, increase in healthcare spending, technological advances in sequencing technologies, and government initiatives aimed at promoting the use of sequencing technology.
Moreover, the growing use of DNA sequencing, favorable government initiatives for large-scale genomic projects, increasing awareness & adoption of targeted therapies, and untapped markets in emerging economies are expected to offer significant opportunities for market growth.
DNA Sequencing Market Growth Drivers
Rising Cancer Prevalence & Increasing Application of NGS in Cancer Treatment and Research
Cancer is a major cause of death and a prominent obstacle in improving life expectancy in every country around the world. According to GLOBOCAN, the number of new cancer cases is expected to increase from 19.2 million in 2020 to 24.5 million in 2030. In addition, mortalities from cancer are expected to increase from 9.9 million in 2020 to 12.9 million in 2030. Thus, the increasing prevalence of cancer is expected to boost the adoption of NGS in clinical settings. DNA sequencing is considerably contributing to researchers’ understanding of cancer biology. Genomics research supported by NGS has identified genetic heterogeneity even among cancer types that were earlier considered identical. The discovery of unique molecular signatures is helping in the development of potential cancer treatments, increasing the demand for NGS in cancer research.
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Technological Advancements in Sequencing Products
The demand for next-generation sequencing (NGS) grows has increased the need for managing large volumes of genomic data. The vast amount of data generated by NGS places significant pressure on healthcare providers to effectively analyze, interpret, report, and manage this information. Efficient data storage and computing tools help reduce costs and save time while scaling production and ensuring data security through rigorous monitoring and compliance. These tools also facilitate the sharing of large datasets among multiple teams with specific user access controls.
Technological advancements in NGS informatics solutions have streamlined the process of creating long sequencing runs, analyzing data, monitoring run status, and obtaining results more rapidly. Furthermore, data flow from sequencing instruments can be processed using advanced software, enhancing the management and analysis of genomic data through specialized applications. These advancements have led to the discovery of genetically targeted drugs, early cancer detection through blood tests, and diagnoses for rare diseases. Thus, ongoing advances in sequencing technology are expected to significantly drive the growth of the DNA sequencing market.
DNA Sequencing Market Opportunity
Increasing Application of DNA Sequencing
Precision medicine is an innovative approach to patient care that tailors treatments based on an individual's genetic profile, including genetic alterations caused by disease and lifestyle factors. This method takes into account genetic variability, environmental influences, and personal lifestyle differences among patients. By minimizing reliance on trial-and-error approaches in treatment, precision medicine helps physicians navigate diagnostic challenges and develop strategies tailored to specific patient demographics. Additionally, it offers a comprehensive view of a patient's health and enhances clinical workflows by enabling predictive and preventive care through targeted therapies. Thus, the use of DNA sequencing in precision medicine is anticipated to significantly drive the growth of the DNA sequencing market.
Rising Awareness & Adoption of Targeted Therapies
Targeted DNA sequencing focuses on specific regions of the genome, offering advantages over whole genome sequencing in terms of cost, time efficiency, and data analysis. While whole genome sequencing typically covers target regions at 30x-50x per genome, targeted sequencing achieves much higher coverage at 500x-1000x per genome. This increased coverage allows researchers to identify rare variants more effectively, which would otherwise be more costly to detect using whole genome sequencing methods.
One of the most common applications of targeted sequencing is the detection and validation of single nucleotide polymorphisms (SNPs). Accurate SNP detection and validation are crucial for distinguishing true SNPs from false positives, making targeted sequencing a valuable tool in genome analysis. The benefits of targeted sequencing and its growing adoption are expected to contribute to the growth of the DNA sequencing market.
DNA Sequencing Market Analysis: Key Findings
By Offering: In 2024, the Consumables Segment to Dominate the DNA Sequencing Market
Based on offering, the DNA sequencing market is segmented into consumables, instruments, software, and services. The consumables segment is further sub-segmented into sample preparation kits & reagents and other kits & reagents. In 2024, the consumables segment is anticipated to hold the major share of 73.4% of the DNA sequencing market. This segment’s significant market share is attributed to the recurring demand for consumables, increasing DNA sequencing-based clinical and research applications, and growing preference for sequencing-based diagnostics.
By Application: In 2024, the Research & Other Applications Segment to Dominate the DNA Sequencing Market
Based on application, the market is segmented into research & other applications and clinical applications. In 2024, the research & other applications segment is anticipated to hold the major share of 67.2% of the DNA sequencing market. This segment’s significant market share is attributed to the rising prevalence of genetic disorders, the growing adoption of sequencing-based tests by laboratories, the increasing demand for personalized medicine, and a surge in NGS-based research.
By End User: In 2024, the Pharmaceutical & Biotechnology Companies Segment to Dominate the DNA Sequencing Market
Based on end user, the DNA sequencing market is segmented into pharmaceutical & biotechnology companies, hospitals & diagnostic laboratories, academic & research institutes, and other end users. In 2024, the pharmaceutical and biotechnology companies segment is anticipated to hold the major share of 44.7% of the DNA sequencing market. This segment’s significant market share is attributed to the increasing R&D spending by pharmaceutical & biotechnology companies and the rising incidence of chronic diseases, which drive the adoption of DNA sequencing solutions among pharmaceutical & biotechnology companies.
Geographical Analysis
In 2024, North America is anticipated to hold the major share of 49.0% of the DNA sequencing market. North America’s significant market share can be attributed to several factors: increased R&D spending in the pharmaceutical & biotechnology sector, the presence of prominent DNA sequencing solution providers, supportive government initiatives for genomics research, the rising applications of sequencing technologies, heightened awareness of NGS-based diagnostic tests, a rising rate of cancer and genetic disorders, and a favorable reimbursement landscape in the region.
However, the market in Asia-Pacific is slated to register the highest growth rate of 12.9% during the forecast period. Countries such as China and India are anticipated to provide significant opportunities for companies operating in this market. Many Asia-Pacific nations are prioritizing advancements in their healthcare systems, leading to increased investments in healthcare accessibility, infrastructure improvements, and drug discovery initiatives. Additionally, the rising incidence of cancer, the growing adoption of advanced diagnostic and therapeutic technologies, and government initiatives aimed at supporting genome sequencing programs contribute to the growth of this regional market.
DNA Sequencing Market: Key Companies
The report offers a competitive landscape based on an extensive assessment of the product offerings and geographic presence of leading market players and the key growth strategies adopted by them over the past few years. The key players operating in the global DNA sequencing market are Illumina, Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), F. Hoffmann-La Roche Ltd. (Switzerland), Revvity, Inc. (U.S.), QIAGEN N.V. (Netherlands), Agilent Technologies, Inc. (U.S.), Pacific Biosciences of California, Inc. (U.S.), Danaher Corporation (U.S.), Bio-Rad Laboratories, Inc. (U.S.), Oxford Nanopore Technologies Plc. (U.K.), and MGI Tech Co., Ltd. (China).
DNA Sequencing Market Overview: Latest Developments from Key Industry Players
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In January 2024, Illumina Inc. (U.S.) signed an agreement with Janssen Research & Development, LLC (U.S.) to launch a novel molecular residual disease (MRD) assay. This whole-genome sequencing (WGS) solution is designed for multi-cancer research and aims to detect circular tumor DNA (ctDNA) to better understand disease recurrence or persistence after clinical intervention.
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In March 2024, Thermo Fisher Scientific Inc. (U.S.) collaborated with Bayer AG (Germany) to develop NGS-based companion diagnostic assays (CDx). These assays are designed to offer decentralized genomic testing with rapid turnaround times, thereby improving patient access to Bayer’s precision cancer therapies.
- In September 2023, Thermo Fisher Scientific Inc. (U.S.) partnered with Pfizer Inc. (U.S.) to expand access to localized NGS-based testing of breast and lung cancer patients in over 30 countries across Africa, Latin America, the Middle East, and Asia, where advanced genomic testing has previously been unavailable or limited.
- In December 2022, Illumina, Inc. signed an agreement with Harvard Pilgrim Health Care to make whole-genome sequencing (WGS) available to certain Harvard Pilgrim members from January 2021, leveraging WGS for faster diagnoses of genetic diseases in children.
DNA Sequencing Market Research Summary
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Particulars
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Details
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Number of Pages
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325
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Format
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PDF
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Forecast Period
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2024-2031
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Base Year
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2023
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CAGR
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11.8%
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Estimated Market Size (Value)
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$21.30 billion by 2031
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Segments Covered
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By Offering
- Consumables
- Sample Preparation Kits & Reagents
- DNA Extraction & Amplification
- Quality Control
- Other Kits & Reagents
- Other Consumables
- Instruments
- Software
- Services
(Note: Other Kits & Reagents Include dilution buffers, DNA standards, reagents for DNA cleanup, target enrichment, and other reagents)
By Technology
- Next-Generation Sequencing
- Sequencing by Synthesis
- Ion Semiconductor Sequencing
- DNA Nanoball Sequencing
- Single-molecule Real-time Sequencing
- Other NGS Technologies
- Sanger Sequencing & Pyrosequencing
(Note: Other NGS Technologies Nanopore Sequencing and AVITI Sequencing.)
By Application
- Research & Other Applications
- Drug Discovery
- Agriculture & Animal Research
- Other Applications
- Clinical Applications
- Reproductive Health
- Oncology
- Infectious Diseases
- Other Clinical Applications
(Note 1: Other Applications include food microbiology, microbiota analysis in the beverage industry, and environmental studies.
Note 2: Other Clinical Applications include the detection of genetic aberrations in neurological disorders, rare diseases, and metabolic and immune disorders.)
By End User
- Pharmaceutical & Biotechnology Companies
- Hospitals & Diagnostic Laboratories
- Academic Institutes & Research Centers
- Other End Users
(Note: Other End Users include forensic laboratories & security agencies, food & beverage companies, and agriculture companies.)
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Countries Covered
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North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, Rest of Latin America), and Middle East & Africa
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Key Companies
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The key players operating in the global DNA sequencing market are Illumina, Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), F. Hoffmann-La Roche Ltd. (Switzerland), Revvity, Inc. (U.S.), QIAGEN N.V. (Netherlands), Agilent Technologies, Inc. (U.S.), Pacific Biosciences of California, Inc. (U.S.), Danaher Corporation (U.S.), Bio-Rad Laboratories, Inc. (U.S.), Oxford Nanopore Technologies Plc. (U.K.), and MGI Tech Co., Ltd. (China).
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Key questions answered in the DNA sequencing market report:
