Market Trends of DNA Sequencing Industry
This section covers the major market trends shaping the DNA Sequencing Market according to our research experts:
The Next-generation Sequencing Segment (NGS) is Expected to Hold Significant Market Share and Expected to Follow the Same Trend Over The Forecast Period
The NGS segment is being driven by factors such as the increasing applications of NGS, speed, cost, accuracy, efficient replacement of traditional technologies, and drug discovery applications demanding NGS technology. The advantage of this technology is that it is significantly cheaper, quicker, and requires significantly less DNA, which helps in the overall growth of the segment.
There are various technological advancements in the field of medicine that are growing at a rapid pace and have led to the development of personalized medicine. For instance, in October 2022, the CDC provided the American Society for Microbiology (ASM) with funds to provide NGS training. ASM is likely to create and deliver recognized training to educate the clinical microbiology workforce on NGS technology, boost pathogen genomic sequencing capacity, and prepare for the next pandemic using advanced molecular techniques. It is also likely to educate ASM's bioinformatics partners on infectious diseases, allowing them to better comprehend science and technology's influence on public health. Such instances are expected to increase awareness about the NGS, thereby boosting demand for the segment studied.
Furthermore, product launches by the market players is expected to boost the market growth over the forecast period. For instance, in September 2022, Illumina Inc. (ILMN.O) introduced its next-generation NovaSeq X devices, which the company claims can output more than 20,000 entire genomes per year, or 2.5 times that of previous sequencers. Additionally, in July 2021, QIAGEN announced a global strategic alliance with Japan's Sysmex Corporation for the development and commercialization of cancer companion diagnostics, which will leverage both QIAGEN's leadership in this field and Sysmex's Plasma-Safe-SeqS technology for NGS. Hence, owing to the above-mentioned factors, the segment is expected to grow during the forecast period.
North America Holds a Significant Share in the Market and Expected to do Same during the Forecast Period
North America dominated the market due to an increase in funding and support activities by the government and non-government entities, especially in the United States. The increasing adoption of advanced technologies and favorable support from the government and related policies are the primary driving factors for the DNA sequencing market growth in the country.
Technological advancement in DNA sequencing and product launches is expected to boost the market growth. For instance, in December 2021, Roche launched the AVENIO Edge System to simplify and automate next-generation sequencing sample preparation, reduce human error and advance precision medicine.
Strategic activities by the market players, such as product launches, mergers and acquisitions, and partnerships, are expected to boost the demand for the DNA sequencing market. For instance, in September 2022, Genome Prairie announced the official delivery of next-generation genome sequencing technology to Saskatchewan Polytechnic's BioScience Applied Research Centre (BARC) at its Saskatoon campus in collaboration with PRIESCAN (formerly Western Economic Diversification Canada). The method, which consists of two genomic DNA sequencing equipment, allows researchers to gain a greater understanding of the human biological processes.
Hence, owing to these factors, the DNA sequencing market is expected to be one of the largest in the future.
