DNA Sequencing Market Sales Are Expected to Surpass US$ 15 Billion by 2030, As Stated by insightSLICE

PUNE, India, Jan. 20, 2021 (GLOBE NEWSWIRE) --

The Global DNA Sequencing Market Share, Trends, Analysis and Forecasts, 2020-2030 provides insights on key developments, business strategies, research & development activities, supply chain analysis, competitive landscape, and market composition analysis.

The global DNA sequencing market was worth US$ 5.2 Billion in 2019 and is expected to reach US$ 15.3 billion by 2030 at a CAGR of 10.4%. DNA Sequencing is the process in which the sequence of nucleotides in a DNA is determined. It also refers to the process of determining the order of four chemical building blocks called “Bases” (Adenine, Guanine, Cytosine, and Thymine) which play an important role in forming DNA structure. DNA Sequencing can be carried out using several different methods. DNA Sequencing is carried out in two ways mainly - Sanger Sequencing and Next Generation Sequencing. The main difference between these two methods is that Sanger method only sequences a single DNA fragment at a time whereas Next Generation Sequencing method sequences millions of DNA fragments simultaneously. DNA Sequencing has revealed thousands of nucleotide variations linked with specific genetic diseases which helps in understanding the specifics of diseases and their treatment in advance. DNA Sequencing also plays an important role in pharmacogenomics. Pharmacogenomics is a field which studies how genes affect a person’s ability to respond to drugs. Study of pharmacogenomics is necessary to determine which drug will provide the best outcome in patient. Apart from its uses in medical field, DNA sequencing also plays major role in forensic science and in determining ancestry as well.

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Forensic science contributes to the growth of DNA Sequencing

Forensic field harnesses the use of Next Generation Sequencing methods technology. Next Generation Sequencing methods help in solving complicated and difficult criminal cases by analyzing and providing enormous amount of data (autosomes, mitochondrial chromosomes, etc.) about a suspect. NSG helps in recovering mitochondrial DNA from samples collected at the crime scenes and also assists in analysis of unidentified remains which helps in human identification and establishing link to related family members. Criminal activities are increasing day by day and hence forensic activities are playing a major role in solving criminal investigations. For instance, report by Council on Criminal Justice, stated that between June and August Homicide rates in United Sates have increased by 53%. A preliminary report by FBI also stated that the percentage of numbers have increased by 15% in the first half of 2020. These factors would increase the demand for DNA sequencing in forensic science in the coming few years.

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Rise in Healthcare Spending

Increasing healthcare spending in developing and developed nations as well, would impact positively on the DNA sequencing market. Rise in healthcare research and development activities will also promote the growth of DNA sequencing market. In a report published by CMS, in 2019, United States healthcare spending reached US$ 3.8 trillion. The report further stated the spending would reach US$ 4 trillion in 2020 and around US$ 6 trillion in 2028. Developing nations in Asia Pacific region are also increasing their healthcare spending. For instance, China continues to increase its spending over R&D activities thus providing support to the life sciences company to continue the clinical trials that could change the genetics industry drastically. In 2019, China’s science and technology expenditure reached up to US$ 322 billion which was 12.5% more than the previous year spending.

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Rise in Personal Genomics

Personal genomics deals with the sequencing and analysis of genomes of the individuals. Next Generation Sequencing methods are used in determining the genotypes of individuals through partial or full sequencing. Personal genomics is important in predicting the probability of a particular individual to be affected by a disease and how will individual’s body will react to a specific drug. This would help the medical practitioners to provide appropriate medication to the patient. With personal genome sequencing data people can have a chance to learn about their ancestry and their lifestyle as well. Moreover, automated DNA sequencing have reduced the cost of the sequencing and increased the speed of the result. It is accessible to common consumers at around US$ 1000. In the coming few years this cost is anticipated to decline even further. This would increase the demand for DNA sequencing among the common people as well.

Major players active in the global DNA sequencing market include Agilent Technologies, Inc., Illumina, Inc., F. Hoffmann-La Roche Ltd., Macrogen, Inc., Pacific Biosciences of California, Inc., Bio-Rad Laboratories, Inc., PierianDx, Eurofins Scientific, Thermo Fisher Scientific, Inc., QIAGEN, Oxford Nanopore Technologies Ltd., Perkin Elmer, Inc., BGI., Myriad Genetics and Intrexon Bioinformatics Germany GmbH among the others. Companies in this market are looking forward to develop the database of human DNA and monetize the same by partnering with the governments and other private entities that would need the database for their business operations.

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