As per our research report, the Global Genome Sequencing Equipment/Systems Market is estimated to be growing at a CAGR of 11.3% from 2023 to 2030.
The market's growth can be attributed to factors. One significant factor is the growing use of Next Generation Sequencing (NGS), in precision medicine and molecular diagnostics along with the decreasing costs of sequencing which has greatly contributed to the expansion of the market. Additionally, government funding for genomics projects has played a role, in driving the surge of this market.
Genome sequencing technologies have become tools, for deciphering the DNA sequence greatly impacting the mapping of the genome. Methods like Sanger sequencing, generation sequencing, and third-generation sequencing have been widely embraced, resulting in reductions, in both costs and time required for genome sequencing. The market has experienced growth due, to the decreasing cost of generation sequencing systems and continuous advancements in this technology. These systems have found applications in fields such as biomarker discovery, agrigenomics, reproductive health, HLA typing, forensics, and more. The progress made in sequencing technology and bioinformatics has made it easier to identify DNA variations that pose a risk of disease. Additionally, large-scale projects related to NGS protocols have enhanced our knowledge of oncology and precision medicine with the rising incidence of cancer cases. The market expansion is further fueled by increased government funding for genomics projects the growing role of NGS in cancer research and new entrants in the sequencing systems sector. The demand for diagnosis and support, from both public and private sectors has also contributed to the market growth. Key players are heavily investing in consumables. Portable sequencing technologies.
The COVID-19 pandemic had an effect, on the market for sequencing equipment/systems. The sharp rise in cases resulted in an increased need for sequencing technologies to carry out genetic analysis projects to track the spread of the virus and develop effective treatments. One notable milestone was the collaboration between the National Health Service of the United Kingdom Genomics England, Genetics of Mortality, in Critical Care, and Illumina to create sequences for individuals affected by COVID-19 in the UK. Moreover, DNA sequencing has played a role in the fields of genomic research, especially in whole genome sequencing (WGS) assembling genetic material from scratch and resequencing DNA. This has led to its use, in research institutions. However, COVID-19 disrupted supply chains and hindered the delivery of sequencing consumables, instrument services, and sequencing services resulting in a decrease in sales throughout 2020. Nonetheless, as countries gradually lifted restrictions there was an increase, in the number of tests conducted.
Key market factors driving the growth of the industry include the utilization of Next Generation Sequencing (NGS), in precision medicine and molecular diagnostics. This has greatly improved medicine by uncovering biomarkers for various diseases. Additionally, the decreasing costs of sequencing and increased government funding for genomics projects have played a role in expanding the market. These developments have made NGS systems accessible and driven innovation. Noteworthy advancements within the market include partnerships, investments in genomics companies, expansion of collaborations, and the introduction of new products. These efforts collectively contribute to the growth of the market and continuous progress, in sequencing technologies.
Based on Products & Services, The market, for sequencing systems is divided into three categories; consumables, instruments, and services. Among these, the consumables segment currently has the share, in the sequencing systems market. The market, for sequencing systems is experiencing growth due to the widespread use of consumables in genomic systems and the increasing number of genomic tests conducted worldwide. The continuous introduction of reagents and kits to make whole genome sequencing (WGS) affordable and accessible is driving the expansion of this segment within the market. Service providers play a role with their reagents and advanced technology platforms ensuring accurate performance in addition to offering fast turnaround times, technical support, and excellent customer service. As a result, it is expected that the services segment will witness growth, in the Genome Sequencing Systems market throughout the forecast period.
Based on Technology, The market, for sequencing systems can be divided into three categories; Sanger Sequencing, Next Generation sequencing, and Third Generation DNA Sequencing. It is expected that the third-generation DNA Sequencing segment will experience growth during the forecast period. This particular technology addresses some of the limitations of second-generation techniques by offering advantages such as simplified sample preparation, faster processing speed, and the ability to detect regions, in genomes using long reads that extend over several kilobases.
Based on Application, The market, for Genome Sequencing Systems is divided into segments including Oncology, Metagenomics, Epidemiology, Drug Discovery and Development Clinical Investigation, Agrigenomics & Forensics HLA Typing/Immune System Monitoring, Reproductive Health, Consumer Genomics, and Others. The largest share in the sequencing systems market is held by the Drug Discovery and Development segment. This can be attributed to the growing research on diseases, like cancer and genetic disorders as the decreasing cost of sequencing.
Based on End Use, The market, for sequencing systems is divided into segments, including Academic Research, Pharmaceutical & Biotechnology Companies, Clinical Research, Hospitals & Clinics, and Others. The Academic Research segment holds the share of revenue in this market due to the use of Sanger technology and NGS (Next Generation Sequencing) in academic research projects. Moreover, the revenue share is also increasing because of the rise in funding programs for DNA sequencing products and drug discoveries in these organizations. The market growth is further supported by the growing healthcare expenditure. Increased collaborations, between leading companies and research institutes.
Geographically, The North American market, for sequencing equipment/systems had the highest share of global genome sequencing systems market revenue in 2021. This is because of advancements in technology availability of healthcare infrastructure significant investment in research and development activities and various government initiatives in the region to support drug development research and cancer treatment. For instance, the BC Cancer Foundation Personalized Onco Genomics program uses whole genome analysis to identify cancer-related genes and suitable medications. These public initiatives are expected to drive the adoption of technologies, in the region.
Companies playing a leading role in the global Automotive Trusted Platform Module market profiled in this report are Illumina, Inc., Thermo Fisher Scientific, ABBOTT LABORATORIES, QIAGEN N.V., Agilent Technologies Inc., Bio-Rad Laboratories, DANAHER CORPORATION, Oxford Nanopore Technologies Ltd, Myriad Genetics Inc, F. Hoffmann-La Roche Ltd.
Consumables
Instruments
Services
Sanger Sequencing
Next-Generation Sequencing
Whole Genome Sequencing (WGS)
Whole Exome Sequencing (WES)
Targeted Sequencing & Resequencing
Third Generation DNA Sequencing
Nanopore Sequencing
Single-Molecule Real-Time Sequencing (SMRT)
Oncology
Metagenomics
Epidemiology
Drug Discovery and Development
Clinical Investigation
Agrigenomics & Forensics
HLA Typing/Immune System Monitoring
Reproductive Health
Consumer Genomics
Others
Academic Research
Pharmaceutical & Biotechnology Companies
Clinical Research
Hospitals & Clinics
Others
North America
Europe
Asia-Pacific
South America
Middle East and Africa
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