Global Genome Sequencing Market – Industry Trends and Forecast to 2030

Genome Sequencing Market Analysis and Size

Increasing cancer occurrence and the growing applications of next-generation sequencing in cancer research enhance market growth. Numerous genomic surveillance programs were launched country-wise for effective preventive measures. The major market players are working towards expansions, acquisitions, collaborations, and huge capital investments to advance research in genomics to understand rare diseases and assist in drug discovery.

Data Bridge Market Research analyses that the genome sequencing market, which was USD 16,716.6 million in 2022, would rise to USD 55,564.7 million by 2030 and is expected to undergo a CAGR of 16.2% during the forecast period 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Genome Sequencing Market Scope and Segmentation

Market Definition

Genome sequencing is the process of mapping and sequencing the unique DNA of any particular person. The genome states the entire blueprint of a person's human body. Genome sequencing helps detect important differences in the genes, which are a bundle of DNA, which can lead to a disease or increase the likelihood of disease. One most commonly used targeted sequencing is to look for single nucleotide polymorphisms (SNPs).

Global Genome Sequencing Market Dynamics

Drivers

• Increasing Cases of Cancer

The growing incidence of inherited cancers is anticipated to create a high demand for cancer genomics. The major understanding of the human genome has mainly focused on using numerous gene therapies to treat cancers by using modern gene editing techniques such as CRISPR-Cas gene technology. For instance, a group of researchers at the University of California developed the applications of precision genome editing agents for managing inherited retinal diseases (IRDs) in 2022. Thus, this factor boosts market growth.

• Increasing Number of Collaborations between Market Players

A growing number of joint ventures and partnerships among major market players are also anticipated to have a major impact on market growth. For instance, Illumina, Inc., and Allegheny Health Network entered into a collaboration for effective evaluation of the impact of in-house Comprehensive Genomic Profiling (CGP) to leverage patient care in June 2022. Thus, this factor boosts market growth.

Opportunities

• Growing Rate of Awareness Programs

Several genomic surveillance programs were launched in numerous countries to understand the dynamics of genomic sequencing and effective preventive measures. For instance, the Indian SARS-CoV-2 Genomics Consortium (INSACOG) was established by the combined efforts of the Ministry of Health, Department of Biotechnology (DBT), and ICMR to screen the genomic variations in the SARS-CoV-2 by sequencing technologies in December 2020. Thus, this factor boosts market growth.  

• Increasing Demand for Biomarker Discovery

Scientists worldwide are identifying novel biomarkers that could show a disease condition such as a specific type of cancer. For instance, researchers at the University of Cincinnati published their research on biomarkers in 2022 that could predict breast cancer progression and, at the same time, be potential targets for several new treatments. They discovered that the oncogenes known as Ron and DEK could regulate certain metabolites that increase the growth of cancer cells.

Restraints/Challenges

• Lack of Knowledge about Genomic Sequencing

The lack of knowledge and awareness associated with genomic sequencings, such as polymerase chain reaction (PCR) devices, microarray, nucleic acid extraction, and purification in developing economies, is anticipated to hinder market growth. Not all research scholars and scientists are well aware of the multiple uses of this sequencing technique, which restricts its use of this globally.

This genome sequencing market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the genome sequencing market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Global Genome Sequencing Market Scope

The genome sequencing market is segmented on the basis of product, technology, application and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product

• Consumables
• Systems and Software
• Services

Technology

• PCR
• Sequencing
• Microarray
• Nucleic Acid Extraction
• Purification
•  Others

Application

• Diagnostics
• Drug Discovery and Development
• Precision Medicine
• Agriculture and Animal Research
• Others

End User

• Research Centers
• Academic and Government Institutes
• Hospitals & Clinics
• Pharmaceutical and Biotechnology Companies
• Others

Genome Sequencing Market Regional Analysis/Insights

The genome sequencing market is analyzed and market size insights and trends are provided by product, technology, application and end user as referenced above.

The countries covered in the genome sequencing market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the genome sequencing market because of the persistent technological advancements by the major market players. Additionally, the high investment in research and development and the high accessibility of scientifically developed healthcare infrastructure will enhance the growth of the genome sequencing market in the region. 

Asia-Pacific is expected to witness significant growth due to the calculated initiatives undertaken by international firms to enlarge their incidence because of the high customer base. The increasing demand for therapeutic drugs to fight the increased occurrence of diseases in the region is also increasing market growth.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Healthcare Infrastructure growth Installed base and New Technology Penetration

The genome sequencing market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for genome sequencing market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the genome sequencing market. The data is available for historic period 2011-2021.

Competitive Landscape and Genome Sequencing Market Share Analysis

The genome sequencing market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to genome sequencing market.

Some of the major players operating in the genome sequencing market are:

• Abbott (U.S.)
• BioMérieux (France)
• B.D. (U.S.)
• Danaher (U.S.
• Thermo Fisher Scientific Inc., (U.S.)
• Siemens (Germany)
• Agilent Technologies, Inc, (U.S.)
• Merck KGaA (Germany)
• Illumina Inc. (U.S.)
• QIAGEN (Germany)
• Bio-Rad Laboratories, Inc. (U.S.)
• Eurofins Scientific (Luxembourg)
• Danaher (U.S.)
• Oxford Nanopore Technologies plc (U.K.).
• F. Hoffmann-La Roche Ltd (Switzerland)
• BGI (U.S.), General Electric (U.S.)
• LI-COR, Inc (U.S.).
• Siemens (U.S.)
• PerkinElmer, Inc. (U.S.).
• Macrogen, Inc (South Korea)
• BIONEER CORPORATION (South Korea)

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