With Market Size Valued at $10.1 Billion by 2026, it`s a Healthy Outlook for the Global DNA Sequencing Market

BY PR Newswire | ECONOMIC | 11/16/21 11:57 AM EST

SAN FRANCISCO, Nov. 16, 2021 /PRNewswire/ --?A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled?"DNA Sequencing - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

Global DNA Sequencing Market

FACTS AT A GLANCE
Edition:?9;?Released:?November 2021
Executive Pool:?1669
Companies:?76 - Players covered include Agilent Technologies, Inc.; Thermo Fisher Scientific, Inc.; Illumina, Inc.; QIAGEN; F. Hoffmann-La Roche Ltd.; Oxford Nanopore Technologies Ltd.; Macrogen, Inc.; Perkin Elmer, Inc.; Pacific Biosciences of California, Inc.; BGI; Bio-Rad Laboratories, Inc.; Myriad Genetics; PierianDx; Intrexon Bioinformatics Germany GmbH; Eurofins Scientific and Others.
Coverage:?All major geographies and key segments
Segments:?Product (Consumables, Instruments, Services); Application (Oncology, Reproductive Health, Clinical Investigation, Forensics & Agrigenomics, HLA Typing, Consumer Genomics, Other Applications); End-Use (Academic Research, Clinical Research, Hospitals & Clinics, Pharma & Biotech, Other End-Uses)
Geographies:?World; United States; Canada; Japan; China; Europe ; Asia-Pacific; Rest of World.

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ABSTRACT-

Global DNA Sequencing Market to Reach US$10.1 Billion by the Year 2026
Deoxyribonucleic acid (DNA) sequencing involves process of determining sequence of four nucleotides bases namely, adenine, cytosine, guanine, and thymine present in DNA. The advanced technology assists healthcare professionals in easily comparing mutated and healthy DNA. This allows them to easily diagnose and provide effective treatment for various life threatening ailments such as cancer. Growth in the global market is set to be driven by promising opportunities in the fields of biomarkers, cancer, diagnostics, personalized medicine, forensics and reproductive health among others. The increase in genome mapping programs worldwide, rise in partnerships and collaborations, and growing technological developments in DNA sequencing are the other factors promoting growth in the market. Evolving technology, growing incidence of cancer, the emergence of new market players, increasing requirements of breeders for the reproduction of plants and animals, increase in programs for genome mapping, increased conferences and seminars on DNA sequencing market, development in applications for liquid biopsy, the continued drop in costs of sequencing, and growing personalized therapies are also expected to fuel growth. Driven by promising outlook, DNA sequencing is widely being used for conducting biological research, medical diagnosis, as well as performing biotechnology experiments.

Amid the COVID-19 crisis, the global market for DNA Sequencing estimated at US$5.1 Billion in the year 2020, is projected to reach a revised size of US$10.1 Billion by 2026, growing at a CAGR of 11.8% over the analysis period. Consumables, one of the segments analyzed in the report, is projected to grow at a 11.4% CAGR to reach US$4.9 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Instruments segment is readjusted to a revised 9.6% CAGR for the next 7-year period. This segment currently accounts for a 28.9% share of the global DNA Sequencing market. Consumables such as kits and reagents and tools simplify and streamline the workflows. Due to their sheer use and requirement during the library building, sample preparation, and pre-requisite steps for DNA sequencing, the consumables product segment holds dominant position in the market.

The U.S. Market is Estimated at $2.4 Billion in 2021, While China is Forecast to Reach $1.3 Billion by 2026
The DNA Sequencing market in the U.S. is estimated at US$2.4 Billion in the year 2021. The country currently accounts for a 41.4% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$1.3 Billion in the year 2026 trailing a CAGR of 17.2% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 8.5% and 9.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 8.8% CAGR while Rest of European market (as defined in the study) will reach US$1.5 Billion by the end of the analysis period. North America region leads the market due to technological advances and the growing prevalence of genetic diseases among patients. Increased funding by government organizations in DNA sequencing research and development is also fueling the growth of the market in the region. The Asia Pacific region has emerged as a nascent DNA sequencing market, leading with massive contributions from some countries in Asia including India, China, South Korea, and Japan. The increasing geriatric population and rising incidences of tumors in this region have had a positive effect on the growth of the market for DNA sequencing in this region.

Services Segment to Reach $3.1 Billion by 2026
The factors driving demand for the market of DNA sequencing services are increased funding for life science research and public grants, technological developments in the diagnosis and treatment method of infectious diseases, innovation in molecular techniques, and customized product offerings. In the global Services segment, USA, Canada, Japan, China and Europe will drive the 14.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$1.2 Billion in the year 2020 will reach a projected size of US$3.1 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$140.8 Million by the year 2026. More

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