DNA Sequencing Market to Reach USD 44 Billion by 2031, Growing at 17.12% CAGR | SkyQuest Technology

Global DNA Sequencing Market size is going to reach USD 44 billion by 2031, growing at a CAGR of 17.12% in the forecast period (2024-2031).

WESTFORD, MA, UNITED STATES, September 25, 2024 /EINPresswire.com/ --
Global DNA Sequencing Market size was valued at USD 10.5 billion in 2019 and is poised to grow from USD 12.29 billion in 2023 to USD 44 billion by 2031, growing at a CAGR of 17.12% in the forecast period (2024-2031).

DNA sequencing technology has tremendous potential in clinical research and development for cancer diagnosis and treatment. More recently, experimental next-generation sequencing (NGS) technologies have demonstrated their potential as a high-throughput and cost-effective method for identifying and characterizing feasible genetic variants. DNA sequencing methods have evolved over time to produce high-quality results and be used in clinical laboratories and research automation to help identify new targets for treatment and disease and expand patient care. Thus, the increasing use of DNA sequencing for clinical diagnosis and drug discovery is expected to propel the market growth over the forecast period.

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DNA Sequencing Market Segmental Analysis
Global DNA Sequencing Market is segmented based on Product, Application, Technology, End User, and Region.

Based on Product the DNA Sequencing Market is further sub segmented into Consumable, Instrument, and Service.
Based on Application the DNA Sequencing Market is further sub-segmented into Biomarkers and Cancer, Diagnostics, Reproductive Health, Personalized Medicine, Forensics, and Others. Based on Technology the DNA Sequencing Market is further sub segmented into Sequencing by Synthesis, Ion Semiconductor Sequencing, Sequencing by Ligation, Pyrosequencing, Single Molecule Real-time Sequencing, Chain Termination Sequencing, and Nanopore Sequencing. Based on End User the DNA Sequencing Market is further sub segmented into Academic & Government Research Institutes, Pharmaceutical Companies, Biotechnology Companies, and Hospitals & Clinics.
Based on Region, the DNA Sequencing Market is further sub-segments into North America, Europe, Asia Pacific, Latin America, and MEA .

Near-Term Horizon Accelerating Precision Medicine (Next 4-5 Years)
Over the next decade, DNA sequencing could be more and more incorporated into global health care structures, transforming how diseases are dealt with and avoided. Furthermore, advances breakthroughs in bioinformatics and synthetic intelligence will extend DNA sequencing into broader fields such as agriculture and forensics. Whole-genome sequencing may need to grow to be commonplace, permitting actual-time tracking of disease development, early detection of conditions, and superior genome-enhancing solutions which include the CRISPR.

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This report covers the following players:
• Illumina, Inc.
• Thermo Fisher Scientific, Inc.
• Pacific Biosciences of California Inc.
• BGI Group
• Oxford Nanopore Technologies Ltd.
• Qiagen N.V.
• F. Hoffmann-La Roche Ltd.
• PerkinElmer Inc.
• Agilent Technologies, Inc.
• Eurofins Scientific SE
• Zymo Research Corp.
• Hamilton Company
• Genewiz Inc.
• Macrogen Inc.
• DNASTAR Inc.
• GENEWORLD
• Bio-Rad Laboratories Inc.
• BioChain Institute Inc.
• Beckman Coulter Inc.
• Novogene Corporation Hamilton Company

Long-Term Vision Revolutionizing Global Healthcare (Next 10 Years)
Over the next 4-5 years, the DNA sequencing market will see a rise in the use of precision medicine. This will lead to faster diagnosis of genetic diseases, cancer treatments and personalized therapies, and transform the patient care. The healthcare industry will see an increasing reliance on genomics for drug prevention and risk prediction, while pharmaceutical companies will use DNA sequencing for drug development, for clinical trials and drug development.
In October 2022, PacBio announced the release of two genome sequencing systems, the Revio long-read sequencing system and the Onso short-read sequencing system.
In March 2022, Element Biosciences released technical specifications for its long-awaited Aviti DNA sequences. The new benchtop instrument employs a riff on sequencing-by-synthesis chemistry that Element says reduces reagent usage, leading to costs of approximately USD 7 per Gb.

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This report covers the following segments:

A. Type
1. Consumable
2. Instrument
3. Service

B. Application
1. Biomarkers
2. Cancer
3. Diagnostics
4. Reproductive Health
5. Personalized Medicine
6. Forensics
7. Others

C. Technology
1. Synthesis
2. Ion Semiconductor Sequencing
3. Sequencing by Ligation
4. Pyrosequencing
5. Single Molecule Real-time Sequencing
6. Chain Termination Sequencing
7. Nanopore Sequencing

D. End User
1. Academic & Government Research Institutes
2. Pharmaceutical Companies
3. Biotechnology Companies
4. Hospitals & Clinics

Empowering Precision Medicine the Future of DNA Sequencing
The DNA sequencing market is growing rapidly, driven by technological advancements, cost reductions, and increasing applications in the healthcare, research, and biotechnology. While precision medicine is increasingly evident, demand for sequencing technologies continues to rise, creating opportunities for innovation. The combination of next-generation sequencing systems with artificial intelligence and bioinformatics will dramatically increase the accuracy and speed of genomic analysis. As standard medicine advances, DNA sequencing plays an important role in disease diagnosis, development of targeted therapies, and advanced genetic research.

Related Report:
Next Generation Sequencing Market is growing at a CAGR of 18.5% in the forecast period (2024-2031).

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