Genome Sequencing Market was worth USD 13.58 Billion in 2021 and it is expected to reach USD 46.43 Billion by the end of 2028 with a CAGR of 19.2% during the Forecast Period.
Genome Sequencing Market: Global Size, Trends, Competitive, Historical & Forecast Analysis to 2022-2028, Increasing number of advanced technological platforms & enhanced genomic tools and rising applications of genome sequencing in drug discovery and clinical diagnosis are anticipated to drive the Growth of Global Genome Sequencing Market.
Genome sequencing is a technology in which numerous DNA strands can be sequenced through massive parallelization. It is the process of determining the nucleic acid sequence, the order of nucleotides in DNA and t comprises the method or technology that is used to determine the order of the four bases: adenine, guanine, cytosine, and thymine. The beginning of rapid genome sequencing methods has significantly enhanced biological and medical research and discovery. Some of the major advantages of genome sequencing include; low cost, high accuracy & speed, and precise results even from low sample input. Genome sequencing use technologies that contain polymerase chain reaction (PCR), microarray technique, sequencing technique, and mass spectrometry which have also evolved the DNA diagnostic market and help for sample preparation, DNA isolation, and others. Genome sequencing can be used to find changes in areas of the genome. These changes may help medical specialists understand how specific diseases, such as cancer, form. Genomic sequencing results may also be used to diagnose and treat disease.
The covid-19 pandemic has shown a positive impact on the growth of the global genome sequencing market. A growing number of Covid-19 cases has prompted rapid testing and clinical diagnosing. Most of this testing is PCR-based. Genome sequencing of the Covid-19 infection provides metagenomics information of diagnostic test which is used with clinical information to find the more efficient treatments. This factor has supported the worldwide genome sequencing market.
The genome sequencing market is segmented on the basis of type, technology, end-user, and region & country level. Based on product, the genome sequencing market is classified into products such as instruments, software & consumable and service. Base on technology, the global genome sequencing market is classified into, polymerase chain, Sanger sequencing, non-sanger’s sequencing, microarray, and next-generation sequencing (NGS). Based on end-user, the market is classified into healthcare facilities & diagnostic centers, research institutes, pharmaceutical & biotechnological companies, and others.
The regions covered in this global genome sequencing market report are North America, Europe, Asia-Pacific, and Rest of the World. On the basis of country level, the genome sequencing market is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, Middle East Asia (UAE, Saudi Arabia, Egypt) GCC, Africa, etc.
The key players for the global genome sequencing market include
On May 1st, 2020; Swedish biotechnology company CARTANA. announced the launch of a new range of In Situ Sequencing (ISS) reagent kits designed to increase efficiency and enable ISS on virtually any tissue sample. The new CARTANA service now provides researchers worldwide with the opportunity to see for the first time high-resolution spatial gene expression maps within the cells of their brain and spinal cord tissue samples of interest. It even enables researchers to clearly distinguish between splice variants and detect mutations directly inside the tissue samples with high specificity. Barcoded padlock probes are used to target the cDNA of genes of interest, which are then amplified in situ using rolling circle amplification, followed by a DNA sequencing reaction, also directly on the tissue section. In this way cell and tissue morphology is preserved. The technology is also highly specific, identifying isoforms, splice variants, and mutations.
One of the major factors driving the growth of the global genome sequencing market is the accelerating number of advanced technological platforms & enhanced genomic tools. The continuous advancements of quicker sequencing methods and developments in varied approaches to accommodate to the huge information generated, are accelerating the analysts' ability to analyze microbial networks from an indefinite diverseness of environments. The developing function of advanced bioinformatics tools, high throughput webbing (HTS) strategies, recuperation of novel medicinal, and advancement of cost-effective inventions like coming- generation sequencing (NGS) are driving the market development. For example; on May 28th, 2019; an exactness medicinal biotechnology association, Macrogen, Inc. got South Korean authorization of Good Clinical Lab Practices from the country's Ministry of Food and Drug Safety (MFDS) and was assigned as a clinical preliminary case analysis institution. It would help Macrogen with improvised clinical characteristic metagenomics.
In addition, the growing application of genome sequencing in drug discovery and clinical diagnosis is another factor likely to boost the genome sequencing market growth. Genome sequencing technology retains significant potential in clinical research and the development of cancer diagnostics and therapeutics. For instance; female blood cancer is the most commonly diagnosed cancer worldwide was approximately 2.26 million cases. Surveys in the clinical health services of developed countries revealed that 93 of errors linked are formed during the pre-analytical and post-analytical phases, whereas only 7 of errors actualize during the analytical phase, provided the diagnostic service has established an effective system for internal quality control. It was also observed that in an ambulant general medical examination lower than five of the most common laboratories.
However, the lack of skilled professionals and rising concern about the standardization and accuracy of diagnostic testing may hinder the genome sequencing market growth. In spite of that, the increasing advancements in this field can provide various opportunities for the further growth of the global genome sequencing market.
On a geographic basis, North America is expected to dominate the global genome sequencing market owing to the increase in funding and support activities by the government and non-government entities, especially in the United States and the Covid-19 pandemic in this region. Government bodies, such as the US-based National Human Genome Research Institute (NHGRI), have been supporting research related to human genome sequencing while funding research related to the genome's function, structure, and role in health and disease. Moreover, these organizations also support the studies on the social, ethical, and legal implications of genome research. In the Covid-19 pandemic, there is a positive impact on the genome sequencing market in the North American region. For instance; in April 2020; Genome Canada launched the Canadian Covid Genomics Network with the U.S. government funding of USD 40 million. Additionally, research and development of genome sequencing help to grow the genome sequencing market in North America such as, in December 2020; Harvard Pilgrim Health and Illumina Inc. launched a risk-sharing agreement to make whole-genome sequencing (WGS) available to certain Harvard Pilgrim members.
The Asia Pacific is expected to show the fastest growth in the global genome sequencing market due to the rising expenditure on research and developments, along with technological advancement in genome sequencing in this region. For instance; in March 2020, the departments of biotechnology undergo a project sequence of 1,000 SARS-COV-2 genomes from samples so as to understand the evolving behavior of the coronavirus. Additionally, in the Asia Pacific, Australia is also one of the growing countries in the genome sequencing market. Being a developed economy, Australia has a well-founded healthcare system as well as the availability of advanced healthcare information technology. For instance, in May 2020, the South Australia genomics center received fund more than USD 7 million to support research studies in the field of genomics and bioinformatics.
|Historical data||2015 - 2020|
|Forecast Period||2021 - 2028|
|Market Size in 2021:||USD 13.58 Billion|
|Base year considered||2020|
|Forecast Period CAGR %:||
|Market Size Expected in 2028:||USD 46.43 Billion|
|Tables, Charts & Figures:||175|
|Genome Sequencing Companies||Abbott Laboratories, Agilent Technologies, Inc., Danaher Corporation (Beckman Coulter, Inc.), Hoffmann-La Roche Ltd, Illumina, Inc., LI-COR Biosciences, SIEMENS AG, PerkinElmer Inc., Pacific Biosciences of California, Inc., Thermo Fisher Scientific., Merck KGaA, others|
|Segments Covered||By Product, By Technology, By End-User|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|
We are always looking to hire talented individuals with equal and extraordinary proportions of industry expertise, problem solving ability and inclination interested? please email us email@example.comJOIN US
BrandEssence® Market Research and Consulting Pvt ltd.
124, City Road, London EC1V 2NX
© Copyright 2023-24 BrandEssence® Market Research and Consulting Pvt ltd. All Rights Reserved | Designed by BrandEssence®