The global DNA sequencing market size is expected to reach USD 11.2 billion by 2027, expanding at a CAGR of 11.4%, according to a new report by Grand View Research, Inc. The incorporation of Artificial Intelligence (AI) has increased the utility of genomic data in clinical practices and thus creates a new frontier in the advancement of genomic data analysis. In May 2020, Nvidia Corporation developed new AI tools, genomic sequencing software, and speech recognition technologies to aid the COVID-19 research efforts. Thus, AI accelerates the variant annotation and prioritization in the clinical diagnosis, which drives the market.
Since
the completion of the Human Genome Project, the DNA sequencing cost has
declined precipitously. The cost of decoding one person’s genome was around USD
50,000 a decade ago and currently has reached nearly USD 600 in the largest
genomic centers. Recently, in February 2020, BGI claimed to reduce the cost to
sequence the genome to USD 100. This is expected to expand the use of this
technology for prenatal tests, cancer screening, and research studies.
With
a significant decrease in cost coupled with the availability of funding, several
start-ups have entered the market. For instance, in January 2020, Omniome, a
startup firm from the U.S., raised USD 60.0 million in Series C financing to
speed up the late-stage product development and product launch of its genetic
sequencing platform, which consequently fuels market progression.
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DNA Sequencing
Market Report Highlights
- Rise in the
availability of services at affordable prices along with consulting
services, training courses, and customer support are anticipated to drive
the services segment at the fastest growth rate over the forecast period
- Constant
technological advancements in third-generation techniques with the launch
of new systems are expected to drive this segment at a lucrative CAGR
- For instance,
in July 2019, Oxford Nanopore launched GridION Mk1, a benchtop, flexible
NGS, data analysis device that improves the performance of the company’s
GridION X5 system
- On the basis
of workflow, the data analysis step is anticipated to register a
considerable CAGR throughout the forecast period
- The advent of
workflow management systems with HTS-flow retrieves data from laboratory
management systems and manages data analysis through a simple graphical
user interface, subsequently streamlining the data analysis workflow
- These
technologies are widely accepted in the oncology field to sequence and
catalog gene mutations for the development of cancer diagnostic and
therapeutics
- A rise in
cancer cases globally is driving demand for oncology. It is estimated that
there would be nearly 1.8 million new cancer cases in 2020 in the U.S.
- The clinical
research segment is projected to witness the fastest growth rate over the
forecast period, followed by hospitals and clinics
- Efforts
undertaken by companies and government agencies to broaden the
accessibility for NGS-based diagnostic tests in the hospitals and
diagnostic centers for COVID-19 diagnosis is anticipated to drive the
hospitals and clinics segment at a lucrative pace
- In Asia
Pacific, the market is expected to progress with the highest CAGR over the
forecast period owing to numerous research programs that involve the usage
of these tools
- For instance,
in October 2019, researchers from the Agency for Science, Technology and
Research's Genome Institute of Singapore created the largest genetic
databank of Asian populations to support the diagnosis of rare diseases
- Key companies
such as Illumina, Thermo Fisher, Roche, QIAGEN, and Agilent have adopted
several strategic alliances to reinforce their market presence
- In May 2020,
Roche acquired Seattle-based Stratos Genomics to introduce advancements in
its nanopore sequencer by combining Sequencing by Expansion chemistry from
Stratos Genomics.
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DNA Sequencing
Market Segmentation
Grand View Research has
segmented the global DNA sequencing market on the basis of product and
services, technology, workflow, application, end-use, and region:
DNA Sequencing
Product & Services Outlook (Revenue, USD Million, 2016 - 2027)
- Consumables
- Instruments
- Services
DNA
Sequencing Technology Outlook (Revenue, USD Million, 2016 – 2027)
- Sanger Sequencing
- NGS
- WGS
- WES
- Targeted Sequencing & Resequencing
- Third Generation Sequencing
- SMRT
- Nanopore Sequencing
DNA
Sequencing Workflow Outlook (Revenue, USD Million, 2016 - 2027)
- Pre-sequencing
- Sequencing
- Data Analysis
DNA
Sequencing Application Outlook (Revenue, USD Million, 2016 – 2027)
- Oncology
- Reproductive Health
- Clinical Investigation
- Agrigenomics & Forensics
- HLA Typing/Immune System Monitoring
- Metagenomics, Epidemiology & Drug Development
- Consumer Genomics
- Others
DNA
Sequencing End-use Outlook (Revenue, USD Million, 2016 - 2027)
- Academic Research
- Clinical Research
- Hospitals & Clinics
- Pharmaceutical & Biotechnology Companies
- Other Users
DNA Sequencing
Regional Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- Mexico
- Middle East & Africa (MEA)
- South Africa
- Saudi Arabia
List of Key
Players of DNA Sequencing Market
- 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
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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