08-Dec-2021 | Facts and Factors
According to Facts & Factors, the global genome sequencing market witnessed a value of USD 27 Billion in 2020 and with growth at a CAGR of 20% is expected to acquire USD 95 Billion by 2026.
Genome sequencing technology helps sequencing the entire genome of an organism in order to identify the order or sequence of the DNA nucleotide or bases which are coded with letters such as As, Cs, Gs, and Ts. The studying of genetics, forensics, biomarkers, personalized medication, and others is now possible through genome sequencing tools. This technology is known to have helped shift from traditional methods to personalized medicines with the help of genomics. Whole-genome sequencing is one of the majorly used tools nowadays.
Rising advancements being made in the field of R&D and surging genome mapping programs are projected to drive the global genome sequencing market over the forecast period. Also, the introduction of tools such as Neoantigen Presentation Score (NEOPS) contributes toward the industry growth. Furthermore, the need for disease management, prevention, and treatment coupled with developments in the field of bioinformatics is projected to bolster the market. Most importantly, the current COVID-19 pandemic and demand for new treatments and vaccines provide better opportunities for the global genome sequencing market. The potentials of sequencing encourage various start-ups to invest in the market. However, the high cost and a low number of skilled technicians will restrain the genome sequencing market.
Top Market Players
Some of the key players dominating in the global genome sequencing market include Illumina, Inc., BGI, IntegraGen, Bio-Rad Laboratories, QIAGEN, Danaher, Pacific Biosciences of California, Inc., Oxford Nanopore Technologies, Genome Electric Company, Agilent Technologies, Inc., Thermo Fisher Scientific, Inc., and F. Hoffmann-La Roche Ltd., among others
Global Genome Sequencing Market Dynamics:
The global genome sequencing market is segmented based on type, technology, application, end-user, and regions.
In the global genome sequencing market, the product type segment exhibits the highest market share due to the rising demand for new automated products and software. Furthermore, the polymerase chain reaction (PCR) segment will account for the market growth due to its easy availability and rising demand.
The diagnostic application segment contributes to the largest market share owing to the rising want of NGS for clinical diagnostics and genetic testing which thereby boosts the global genome sequencing market. The research institute category belonging to the end-user segment is expected to hold the highest market share of the global genome sequencing market owing to the strong government support and high investments in the research field.
North America Is Expected To Account For The Largest Market Share
North America accounts for the highest market share in the global genome sequencing market. The increasing popularity of sequencing technologies and the high requirement of personalized medicines in this region drive the market in this region. Additionally, the introduction of Ancestryhealth – a next-generation sequencing technology – helps identify genes associated with the blood disorder, colon cancer, breast cancer, and heart diseases and this is expected to further accelerate the market growth over the forecast period.
Browse the full “Genome Sequencing Market By Type (Products and Services), By Technology (Polymerase Chain Reaction (PCR), Sanger Sequencing, Non-Sanger’s Sequencing, Microarray, and Next-Generation Sequencing (NGS)), By Application (Diagnostic, Research, and Others), By End-User (Healthcare Facilities & Diagnostic Centers, Research Institutes, and Pharmaceutical & Biotechnological Companies), And By Regions – Global & Regional Industry Perspective, Comprehensive Analysis, and Forecast 2021 – 2026” report at https://www.fnfresearch.com/genome-sequencing-market-report
The global genome sequencing market is segmented into:
Global Genome Sequencing Market: By Type Segment Analysis
- Instruments & Software
Global Genome Sequencing Market: By Technology Segment Analysis
- Polymerase Chain Reaction (PCR)
- Sanger Sequencing
- Non-Sanger’s Sequencing
- Next-Generation Sequencing (NGS)
Global Genome Sequencing Market: By Application Segment Analysis
Global Genome Sequencing Market: By End-User Segment Analysis
- Healthcare Facilities & Diagnostic Centers
- Research Institutes
- Pharmaceutical & Biotechnological Companies
Global Genome Sequencing Market: By Regional Segment Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- GCC Countries
- South Africa
- Rest of MEA
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