U.S. DNA Sequencing Market

U.S. DNA Sequencing Market Size (2023 to 2028)

The size of the DNA sequencing market in the United States is estimated to grow at 11.92% CAGR between 2023 to 2028.

Impact of Covid19 on US DNA Sequencing Market:

The covid19 has impacted every major large-scale industry and market, the healthcare industry had a significant impact, The DNA Sequencing industry has been experiencing rapid growth due to COVID-19, playing a major role in various sectors such as biomedical research, healthcare, forensics, and agriculture. It facilitates disease diagnosis, genetic variation identification, personalized medicine development, and agricultural advancements. NGS technology played a crucial role in rapidly sequencing the SARS-CoV-2 virus's genome, allowing a deeper understanding of the virus to develop an effective treatment. This allowed scientists to monitor and study new variants, track transmission routes, and contribute to global genomic surveillance efforts. Additionally, NGS helped in diagnosing COVID-19 and identifying new and more resilient variants, informing vaccine effectiveness. As the virus mutates mainly in the gene sequence responsible for host invasion, DNA Sequencing, and real-time tracking through Next Genome Sequencing played a crucial role in estimating the virus's remission potential and calculating threat.

DNA sequencing of the Cocid19 virus played an important role in vaccine development early in the pandemic. By identifying target genes, the advancement in genomics and sequencing tools leads to effective management of the virus and successful vaccine creation. Post-pandemic the DNA sequencing market is estimated to continue flourishing.

Market Drivers:

Increasing applications of genomic research had led to increasing use and demand of DNA sequencing tools. DNA sequencing plays a crucial role in the field of genomics particularly. Through sequencing, the identification of genetic variations within an individual or population had been done effectively. As the Genomic information is unique for each individual it has wide areas of usage like Diagnosis of genetic disease early diagnosis on before the onset of these rare genetic diseases and genetic defects. In making Personalized medicines, everybody is unique and requires a unique treatment which can be administered using DNA sequencing tools, In forensics as DNA samples can be collected from hair, blood, semen, skin, etc. According to CDC, an estimated 30 Million people suffers from some sort of genetic disease in the USA alone, Early diagnosis and identification of the gene variants had proven to be beneficial in taking appropriate action for treatment. DNA sequencing has also led to the identification of gene variants that is responsible for the disorder aiding in research and development activities. Through sequencing, one can identify more than 6000 genetic conditions which are listed in the Online Mendelian Inheritance in Man Database (OMIM), early diagnosis and management of genetic disorders will improve the quality of life.

Technological improvement and advancement played an important role in giving high throughput results. After the completion of the Human Genome Project in the year 2003, second-generation sequencing called NGS (Next Generation Sequencing) was introduced which helped in the sequencing of numerous DNA strands, increasing the throughput and lowering the cost and time of sequencing from old Sanger’s method. In recent years, with more technological advancements, third-generation sequencing is been used due to its whole genome at a much lower price than second-generation sequencing. This has impacted the growth of the market. This is a huge stepping stone from Sanger's method in the 1970s which was extremely expensive and time-consuming. In 2003, it cost around $100 million to sequence the human genome. Using third-generation sequencing, it costs around $1,000 to sequence a whole genome at a faster rate.

Driven by the advancements, many researchers and scientists have been doing pharmacogenomics analysis and drug response prediction, which has helped to create precision medicines, that brings a more targeted and potent response by the drug. By studying the genetic variation profile of a patient, the drug efficacy, metabolism, potency, toxicity and drug dosage can be calculated to make a personalized medication fit for that person.

To summarize the numerous applications of DNA sequencing, rapid advancements and incident of personalized medication are likely factors to propel the growth of the US DNA Sequencing Market.

Market Restraints:

The primary market restraint for the DNA Sequencing market is the high cost, even though with technology advancements and high throughput NGS, the cost of sequencing remains on the higher side compared to other diagnostic tools, which limits the market size as small healthcare units and clinics won't be able to afford it. DNA sequencing produces a vast amount of raw and complex data, that needs to be analyzed and processed for accurate results by using sophisticated software and bioinformatics tools. And such tools require experts, lack of skilled professionals can become a hinder in the sequencing Market.

Another Major drawback for the DNA sequencing Market is, privacy and safety-related concerns, as it generates data that is sensitive, extremely personal, and confidential, This data is created in a digital format which can cause theft and security breaches.

DNA sequencing market Segmentation:

By Technology based:

• Sanger Sequencing
• Next-Generation Sequencing
• Third Generation Sequencing

Based on the technology segment, the Next-Generation Sequencing (NGS) sector accounts for the major share of the DNA sequencing market, the dominance of the market is due to the high throughput sequencing, scalability, and cost-effectiveness compared to the traditional Sanger method which is time-Consuming and much more expensive in comparison. Next Generation Sequencing decodes millions in a short time, which saves time and money. The Third Generation Sequencing segment such as Nanopore sequencing, Single-Molecule Real-Time Sequencing, and Pacific Biosciences (PacBio) has been witnessing growth in the DNA Sequencing market because of its ability to sequence long DNA fragments in real-time, during the Forecast period Third Generation Sequencing is expected to grow at a fast rate with advancements in technology and increasing affordability.

By Workflow:

• Sequencing
• Pre-Sequencing
• Data Analysis

Sequencing holds the major share by Workflow, this is due to its wide applications in clinical research, forensics, agriculture, and the food industry that it holds. The Pre-Sequencing market will be seeing decent growth due to the adoption and technological advancement in Next Generation Sequencing, Data analysis market will see rapid growth due to the increasing need for Data Generation and Analysis.

By Application:

• Consumer
• Research and development, Drug discovery, Epidemiology
• Reproductive health
• Oncology
• Agriculture and forensics
• Clinical Research

The oncology segment holds the major share and dominates the market by Application, This is due to the increasing prevalence of cancer due to various factors. The reproductive health segment followed by Clinical research has showcased the highest growth. The consumer sector has also demonstrated a positive CAGR due to growing applications in the industry.

By End Users:

• Academics and Research Institutes
• Pharmaceutical and Biotechnology Companies
• Hospitals and Clinics
• Others

Academics and Research Institutes hold the highest shares in the DNA Sequencing Market, this segment dominates because many institutes that are at the leading in DNA sequencing technology are based in the USA with a lot of investments. This technology is essential for a wide range of research, including research into genetic diseases, personalized medicine, and drug development.

The Pharmaceutical and Biotech companies are expected to grow at a rapid pace due to discovery and development, clinical trials, genetic testing and diagnosis, and precision medicine. Hospitals and clinics are expected to grow at a steady pace during the forecast period due to the increasing adoption of DNA sequencing in the USA.

By country:

• USA

The DNA sequencing Market is valued at over 12 Billion USD in the region and is growing at a CAGR of 12%, this is because of several factors like the presence of leading companies like Illumina, Thermofisher, Oxford Nanopore Technologies, etc. The increasing prevalence of chronic and genetic diseases in the region along with a geriatric population of over 56 million are primary drivers for the DNA sequencing market in the USA. The country also has a high awareness and invests heavily in research and development activities in DNA sequencing.

Recent Market Developments:

• In Oct, 2022 Pacific Biosciences a well-reputed leading company in accurate sequencing solutions in the USA, announced Revio, a long-read sequencing system that enables to sequence of 1300 human whole genomes per year at just $1000. Revio uses HiFi sequencing for studies.
• In Sept, 2022 Illumina a USA-based company that sells DNA sequencing systems introduced its latest machine NovaSeqX, which generates more than 20,000 whole genomes per year at the cost of $200.

KEY MARKET PARTICIPANTS:

Notable companies operating in the U.S. DNA sequencing market profiled in this report are Agilent Technologies, Inc., Abbott Laboratories, Danaher Corporation (Beckman Coulter, Inc.), F. Hoffmann-La Roche Ltd, Illumina, Inc., LI-COR Biosciences, Inc., Pacific Biosciences of California, Inc., SIEMENS AG, PerkinElmer Inc., and Thermo Fisher Scientific, Inc.