Increasing awareness about the strong interest from individuals to know their genomics is fueling the demand for DNA sequencing across the globe.
According to the latest Arizton's market research report, the global Genome sequencing market size to reach around USD 5 billion by 2026, growing at a CAGR of over 9% during the forecast period.
Global DNA Sequencing Market Growth Analysis
The rising incidence of rare and complex diseases such as cancer among the population is driving the healthcare providers to implement innovative therapies for cure. Increasing awareness about the strong interest from the individuals to know their genomics is fueling the demand for DNA sequencing across the globe. This information is widely used in the fitness, nutrition, wellness, and health-related applications to increase applications in consumer genomics. Based on the product type the market is classified into the consumables and sequencers and software. The consumables segment is dominating the DNA sequencing market.
Interesting Facts to Know?
- Illumina majorly focuses on the inorganic growth by acquiring other companies in sequencing technology field, which them to remain a major player in the market.
- Thermo Fisher Scientific is focusing on working partnerships with several healthcare facilities that will enable expansion of newly launched products and company’s product portfolio.
- Based on the applications, DNA sequencing is classified into oncology, complex disease research, reproductive health, microbial research, and others.
- Market Size & Forecast by Revenue | 2020−2026
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Segmentation – A detailed analysis by product, application, end-users, and geography
- Competitive Landscape – 6 Key Company Profiles and 15 Other Prominent Vendors
North America to Dominate the Global DNA Sequencing Market
North America accounts for the largest market in the DNA sequencing market. The region is leading the way for the countries to increase the usage of DNA sequencing based on healthcare and diagnostics in the medical industry. The DNA sequencing market in North America is expected to reach over USD 2.4 billion by 2026. The US and Canada are the highest revenue contributors of the DNA sequencing market in the region. With the advancement of technologies, the cost of sequencing has reduced in the market. This is soaring the patient’s interest in personal DNA sequencing for the future personalized treatment.
Strategies Adopted by Players in the Global DNA Sequencing Market
The global DNA sequencing market players are focusing on product development and expanding their product portfolio to maintain the competition level. Players are actively launching innovative devices to penetrate and tap the huge growth potential prevailing in the market. Oxford Nanopore Technology is developing nanopore based sequencing and Pacbio’s SMRT technology-based sequencing. These innovative sequencing are revolutionizing DNA sequencing by reducing cost and increasing shift from conventional sanger sequencing methods to advance methods in the market. Illumina, Thermo Fisher Scientific, F. Hoffmann-La Roche, BGI, and Pacific Biosciences are the major vendors in the global DNA sequencing market. These players accounts for significant share in the global market.
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