Top Companies in DNA Sequencing Market by Size, Share, Historical and Future Data & CAGR
DNA Sequencing Market is projected to reach USD 12.6 Billion by 2028 at a CAGR of 17.5% over the forecast period.
The Global DNA Sequencing Market is valued at USD 4.8 Billion in 2021 and is projected to reach USD 12.6 Billion by 2028 at a CAGR of 17.5% over the forecast period. In recent years, the increasing use of NGS DNA Sequencing technology has become a key element in influencing market growth. NGS has transformed genomic research by making it possible to sequence the entire human genome in a single day. NGS is also increasingly used to detect and manage chronic illnesses, such as cancer and infectious diseases. Further promoting its adoption, NGS technology effectively detects sequence variations and offers a variety of genetic markers, including common and rare variants. This is also anticipated to accelerate the growth of the DNA Sequencing market.
The market for DNA Sequencing is anticipated to grow due to rising trends in personalized genomics, rising demand for quick and simple clinical diagnoses, increased cancer research activities, high throughput technology, funding from governmental organizations for research activities, and the establishment of numerous top DNA Sequencing companies.
Nevertheless, a significant obstacle for the DNA Sequencing market during the forecast period will be the lack of resources for DNA Sequencing in developing nations. Long-term market growth will also be constrained by a shortage of skilled workers and high establishment and maintenance costs for sequencing facilities.
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Amidst Exponential Growth in DNA Sequencing Adoption, What Trends Should We Look Forward to?
- The market for DNA Sequencing in agriculture is growing incredibly quickly. By assessing genetic and environmental factors, it is possible to monitor a plant's capacity to fight disease, withstand drought, and produce. Crop breeding efficiency has increased thanks to molecular markers for genetic determinants, which has also led to additional agricultural advantages.
- The number of cancer cases worldwide is rising, and so are research studies, collaborations between research institutions and industry participants, applications of DNA Sequencing, and technological developments in sequencing technologies. All of these factors are causing the DNA Sequencing market to expand.
- As R&D for therapies used to treat genetic illnesses increases, so will the usage of DNA Sequencing techniques. As R&D expenditures rise and the number of research investigating the treatment of genetic illnesses among individuals rises, sizable market demand will be generated. To encourage scientists and researchers to look into treatments for chronic and rare diseases, governments in industrialized economies have implemented several programs and laws.
- Growing clinical symptoms are believed to be viral infections in recent years. Still, itis becoming harder to identify the virus, causing them to use molecular or conventional culture procedures. In the past, the haphazard sequencing of viral genomes has helped researchers find new viruses. Currently, the use of these techniques is becoming more widespread. Due to its primary application in the identification of viruses, DNA Sequencing has gained importance.
The DNA Sequencing market is dominated by globally established players such as Agilent Technologies, Illumina, Inc., QIAGEN, Perkin Elmer, Thermo Fisher Scientific, Hoffmann-La Roche Ltd., Macrogen, Inc., Bio-Rad Laboratories, Inc., Oxford Nanopore Technologies Ltd, and Myriad Genetics. These companies have developed new products, adopted expansion strategies, and undertaken collaborations, partnerships, and mergers & acquisitions to gain traction in this high-growth DNA Sequencing market.
Let's Look at the Top 5 Companies That are Taking the DNA Sequencing Market by Storm
The DNA Sequencing market is expected to grow from USD 4.8 billion in 2021 to USD 12.6 billion in 2028 due to the need for quick and simple clinical diagnoses, the expansion of cancer research, and the availability of both public and commercial funding. Several market participants are also making significant investments in creating improved, affordable consumables and portable sequencing technology. The global market is receiving a significant boost as a result.
- Agilent Technologies
Provides a wide range of top-notch workflow solutions for distinct genomics applications. It consists of sample quality control (QC), target enrichment and library preparation for next-generation sequencing (NGS), microarrays, CRISPR, PCR/qPCR, bioreagents, and data analysis solutions, including reporting and interpretation. Let us assist you in confidently implementing genetic insights to advance discoveries and decisions in your laboratory every day using tried-and-true Agilent technologies.
- Illumina Inc.
American biotechnology corporation Illumina, Inc. has its main office in San Diego, California. Its goal is to enhance human health by utilizing the genome's potential. By offering innovations that redefine what is possible in genomics, it empowers thinkers worldwide to find solutions and achieve revolutionary progress. Illumina creates, produces, and sells integrated solutions for studying biological processes and DNA Sequencing.
More than 500,000 clients worldwide seek answers from the components of life—DNA, RNA, and proteins—at QIAGEN. Unraveling the complexity of the genome and transcriptome for biomarker research, gene expression studies, viral epidemiology, and disease surveillance, as well as comprehensive genomic profiling, to find variants linked to cancer and other diseases, its DNA Sequencing can provide previously unheard-of insights.
- Perkin Elmer
To increase the clinical diagnostic yield for our clients and patients, PerkinElmer Genomics was one of the first labs to offer whole genome sequencing on a clinical basis. Its whole genome sequencing test combines superior exome coverage (complete coverage of >99% of the exome) with an average four-week turnaround time to maintain the same quality and TAT that customers expect from an exome sequencing test while giving them access to additional valuable information throughout the genome.
- Hoffmann-La Roche Ltd.
has developed over the course of its 125-year existence into one of the largest biotech businesses in the world, a pioneer in in-vitro diagnostics, and a supplier of transformative, cutting-edge treatments for a range of serious diseases. The complete workflow for next-generation sequencing (NGS) sample preparation, including creating DNA and RNA libraries, is covered by automated systems from Roche.
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