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Genome Sequencing Market Size, Share & Industry Analysis, By Product (Consumables, Instrument, Software), By Technology (Next-Generation Sequencing, Polymerase Chain Reaction, Microarray, Sanger Sequencing, Others), By Application (Clinical, Non-clinical), By End User (Hospitals & clinics, Academic and Government Research institutes, Pharmaceutical and Biotechnology companies, Others) And Regional Forecast, 2024-2032

Region :Global | Report ID: FBI105817 | Status : Ongoing



Genome sequencing industry is the result of the Human Genome Project which was initially addressed in 2000. Over a period of three decades, the global genome sequencing market has come far ahead in terms of technology, service offerings and new fields of development. Genome sequencing today is cost effective as compared to its inception. For instance, the US National Academy of Sciences in 2004, spent USD 3 Billion to complete the first human genome sequence as compared to USD 1000 today.

Moreover, developments in computing power has propelled the genome sequencing industry and given rise to Next Generation Sequencing (NGS). For instance, sanger sequencing method took a decade to sequence the whole human genome that NGS does in a day. Genome sequencing has wide range of applications such as preventive diagnostics, personalised medicine, detection of biomarkers for cancer, pharmacogenetic testing and other upcoming categories. Genome sequencing is essential in healthcare in terms of future prospects due to which  governments over the world are now sanctioning initiatives to build databases and infrastructure for future licensing which will eventually be leased to private institutions, research organisations and other entities. This is a major growing factor to the genome sequencing industry.

Some major factors driving demand for global genome sequencing market are recent advancements in computing power which supports growth in genome sequencing industry, giving rise to better and faster technologies. Since improvements in computing power accelerates processing speed of genome sequencing which makes the process accessible and affordable. Moreover, growing applications in genome sequencing in anticancer therapy and pharmacogenomics are likely to stimulate growth for the global genome sequencing market.

Key Market Driver -

Technological advancements in genome sequencing, growing applications of genome sequencing in healthcare sector.

Key Market Restraint -

Lack of trained professionals, high cost of establishing and maintaining a sequencing facility.

Market Segmentation:

Globally, the genome sequencing market can be segmented on the basis of product, technology, application, end user and region. Based on the product, the market can be segmented into consumables, instrument and software. Based on technology, market can be segmented as Next Generation Sequencing (NGS), polymerase chain reaction method, microarray method, Sanger sequencing method and other methods such as Nanopore sequencing (trademark method by Oxford Nanopore technologies), SMrt sequencing, ion semiconductor and sequencing by synthesis. Based on application, market can be segmented as clinical and non-clinical. Based on end users, market can be segmented as hospitals and clinics, academics and research institutes, pharmaceutical and biotechnology companies and other users. Based on geography the market can be segmented as North America, Europe, Asia Pacific, Latin America and Middle East and Africa.

Key Players Covered:

Some of the major companies that are present in the Genome Sequencing market are Illumina, Inc., Thermo-Fischer scientific, BGI genomics, Agilent Technologies Inc., 10X Genomics, QIAGEN, Brooks Life Sciences (Genewiz), MACROGEN Inc., Pacific Biosciences of California Inc., Oxford Nanopore technologies and other prominent players.

Key Insights:

  • Key Industry Trends

  • Technological Advancements in Genome Sequencing

  • New Product Launches

  • Key Industry Developments Mergers, Acquisitions, And Collaboration

Regional Analysis:

Geographically, the genome sequencing market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America is anticipated to account for majority of the share of the genome sequencing market. The dominance of the region is attributed to growing demand of genome sequencing by well-developed research and healthcare facilities, greater adoption rates of new technology and rising need of personalized medicine. Europe is expected to grow in market share during the forecast period. Presence of research and academic institutions working in genomics, developed healthcare system and awareness of significant genome sequencing applications in healthcare are likely to fuel the market growth in this region. Asia Pacific is anticipated to grow with a relatively faster growth rate during the forecast period. The growth is anticipated due to government initiatives by developing countries for development of a genomic database due to a large set of population in this region. This database will later be used for preventive and precautionary medicine. For instance, in March 2020, the Institute of Genomics and Integrative Biology (IGIB) which is a CSIR institute, is spearheading the Genomics for Public Health in India, also called IndiGen project. It is planning to enroll 20,000 Indians for whole genome sequencing in the next couple of years to build a larger database. The data will be important for building the knowhow, baseline data and indigenous capacity in the emerging area of precision medicine.

The market in Latin America and the Middle East & Africa are at a nascent stage and may show better acceptance and growth during the forecast period.

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By Product

  • Consumables

  • Instrument

  • Software

By Technology

  • Next-Generation Sequencing

  • Polymerase Chain Reaction

  • Microarray

  • Sanger Sequencing

  • Others

By Application

  • Clinical

  • Non-clinical

By End User

  • Hospitals & clinics

  • Academic and Government Research institutes

  • Pharmaceutical and Biotechnology companies

  • Others

By Geography

  • North America

  • Europe

  • Asia Pacific  

  • Latin America

  • Middle East & Africa

Genome Sequencing Market Industry Developments

  • In July 2021, Illumina Inc. has declared its commitment to re-acquire GRAIL, a healthcare company focused on multi-cancer early detection. This acquisition is procompetitive and offers far-reaching structural and behavioural remedies to address any potential concerns. Illumina’s re-acquisition of GRAIL means that millions of citizens across the European Economic Area (EEA) will be able to access life-saving early cancer screening years sooner, saving tens of thousands of lives, and leading to significant health care cost savings.

  • In July 2021, 10x Genomics Inc. has launched its latest platform for single-cell analysis, the Chromium X Series, to cost-effectively enable massively large-scale experiments. The system cuts the cost of single-cell analysis down by 83%, from 12 cents to 2 cents per cell, a significant step toward reducing the costs low enough to make genomic sequencing widely available.

  • In July 2021, QIAGEN has formed a strategic alliance with Sysmex Corporation for global cancer companion diagnostic development and commercialization using NGS and Plasma-Safe-SeqS technology. The alliance aims to foster collaborations with pharmaceutical companies for the development of drug treatments for cancer and promote early clinical adoption of ultra-sensitive liquid biopsy companion diagnostics. Cancer companion-diagnostics products will be launched by QIAGEN and Sysmex in various regions of the world.

  • Ongoing
  • 2023
  • 2019-2022

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