June 25, 2024

The Global DNA Sequencing Market Is Driven By Advancements In Genomic Medicine

DNA sequencing refers to the process of determining the nucleotide order of a given DNA molecule. DNA sequencing involves determining the order of the four bases – adenine, guanine, cytosine, and thymine. DNA sequencing plays a crucial role in various fields such as human and animal genetics, microbiology, molecular biology, and molecular diagnostics. It helps understand the genetic makeup of individuals and enables the comparison of DNA sequences of different individuals. DNA sequencing finds broad applications in determining genetic susceptibility of individuals towards certain diseases, cancer diagnostics, prenatal testing, forensic analysis, and agricultural practices.

The global DNA Sequencing Market size is estimated to be valued at Us$ 7836.14 Mn In 2024 and is expected to exhibit a CAGR Of 3.2% over the forecast period 2024 To 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

Next-generation sequencing (NGS) has emerged as one of the key trends in the global DNA sequencing market. NGS, also known as high-throughput sequencing, allows DNA sequencing processes to be conducted in parallel with millions to billions of reactions simultaneously using sequencing by synthesis (SBS) or sequencing by ligation (SBL) methods. This helps reduce costs and improves speed and throughput of DNA sequencing as compared to first-generation sequencing technologies such as Sanger sequencing. NGS techniques have enabled whole-genome sequencing with average per-base sequencing costs declining substantially over years. Advancements in NGS techniques, integration with AI and cloud computing are expected to further drive down DNA sequencing costs and improve access to genomic testing. This, in turn, will support the growth of the DNA sequencing market over the forecast period.

Porter’s Analysis

Threat of new entrants: Low capital requirement for entry into DNA sequencing has led to a moderate threat from new entrants. However, the presence of large established players poses barriers.

Bargaining power of buyers: Large pharmaceutical and biotech companies have significant bargaining power due to their bulk purchasing ability. However, innovations have increased customized demand.

Bargaining power of suppliers: A few global players dominate the supply of instruments, consumables and services. However, new local suppliers have eased supply pressure.

Threat of new substitutes: While protein sequencing is an alternative, DNA sequencing holds advantages in cost, efficiency and scalability. No substitutes are anticipated in the forecast period.
Competitive rivalry: The market consists of global players offering a wide range of innovative sequencing instruments and consumables. Rivalry is high based on continuous technological developments, offerings and strategic collaborations.

Key Takeaways

The Global DNA Sequencing Market Demand is expected to witness high growth. It was valued at US$ 7836.14 Mn in 2024 and is anticipated to reach US$ 17230.82 Mn by 2031, expanding at a CAGR of 3.2% during the forecast period.

Regional analysis

North America dominates the global market currently, supported by extensive R&D spending and technological advancements. However, Asia Pacific is primed to be the fastest growing region on account of increasing investments by governments and awareness regarding DNA sequencing applications. China, Japan and India are likely to be the major revenue generators in the region.

Key players

Key players operating in the DNA sequencing market are Ecolab Inc., BASF SE, Solvay S.A., FQE Chemicals, Innospec Inc., Stepan Company, Dow Inc., Kemira Oyj, GE Water and Process Technologies, Aries Chemical Inc. These companies offer a broad range of instruments, consumables and services. They focus on strategic collaborations to enhance their product portfolios.

1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it