Sign in Subscribe
COVID-19

DNA Sequencing Market to Grow by USD 12.5 Billion During 2020-2024, Driven by Emerging Third-Generation Sequencing Methods

Strategic Insights

— 2 min read

The global DNA sequencing market is expected to grow by USD 12.5 billion during 2020-2024, progressing at a CAGR of about 19% during the forecast period. The growth of the market is driven by the emergence of third-generation sequencing methods, which offer higher accuracy and efficiency in DNA sequencing compared to traditional methods. The market is also driven by the growing adoption of next-generation sequencing (NGS) in various industries, including healthcare, biotechnology, and academia.

Key Takeaways:

  • The DNA sequencing market is segmented into three main categories: solution, products, and services. The solution segment accounts for the largest market share, driven by the increasing demand for DNA sequencing services in various industries.
  • The geographic landscape of the market is dominated by North America, which accounts for 33% of the market share. Asia, Europe, and ROW (Rest of World) also contribute significantly to the market.
  • The top players in the market include Agilent Technologies Inc., BGI Genomics Co. Ltd., Bio-Rad Laboratories Inc., Danaher Corp., Eurofins Scientific SE, F. Hoffmann-La Roche Ltd., Illumina Inc., PerkinElmer Inc., QIAGEN NV, and Thermo Fisher Scientific Inc.
  • The growing adoption of NGS is expected to drive the growth of the market, with an estimated year-over-year growth of 16.50% in 2020.
  • The market is expected to experience a significant increase in demand for DNA sequencing services, driven by the growing need for personalized medicine and genomics research.
  • The market is expected to experience a significant increase in investment in research and development, driven by the increasing demand for DNA sequencing technology.
  • The market is expected to have a significant impact on the healthcare industry, with increased adoption of DNA sequencing in disease diagnosis and treatment.

Statistics:

  • The global DNA sequencing market is expected to grow by USD 12.5 billion during 2020-2024, progressing at a CAGR of about 19%.
  • The market is driven by the emergence of third-generation sequencing methods, which offer higher accuracy and efficiency in DNA sequencing compared to traditional methods.
  • The market is expected to have a significant impact on the healthcare industry, with increased adoption of DNA sequencing in disease diagnosis and treatment.
  • The top players in the market include Agilent Technologies Inc., BGI Genomics Co. Ltd., Bio-Rad Laboratories Inc., Danaher Corp., Eurofins Scientific SE, F. Hoffmann-La Roche Ltd., Illumina Inc., PerkinElmer Inc., QIAGEN NV, and Thermo Fisher Scientific Inc.
  • The market is expected to experience a significant increase in demand for DNA sequencing services, driven by the growing need for personalized medicine and genomics research.
  • The market is expected to experience a significant increase in investment in research and development, driven by the increasing demand for DNA sequencing technology.

Sources:

  • Technavio, "Global DNA Sequencing Market 2020-2024"
  • Businesswire, "Technavio's Latest Research Report: Global DNA Sequencing Market 2020-2024"

Read more