Genome sequencing decodes entire DNA sequences, revealing genetic variations. Market growth is driven by falling costs, rising screenings, and government investments.
Genome sequencing decodes entire DNA sequences, revealing genetic variations. Market growth is driven by falling costs, rising screenings, and government investments. The global genome sequencing market, valued at $7.56 billion in 2023, is projected to reach $30.23 billion by 2033 with a 15.18% CAGR. Growth is fueled by reduced costs, increased usage, expanded screening programs, and government investments.
The genome sequencing market is rapidly expanding due to rising demand for advanced tools that offer detailed insights across various omics disciplines, including genomics, transcriptomics, and epigenetics.
• Research Applications
• Clinical Diagnostics
• Biopharma R&D
• Food and Agriculture
• Forensics
North America is set to dominate the global genome sequencing market due to its strong biotech and life sciences sectors.
In early 2024, several key advancements were made in genome sequencing:
· Volta Labs and Element Biosciences launched the Callisto Sample Prep System for Element’s AVITI platform.
· Twist Bioscience and Element Biosciences introduced the Exome 2.0 plus Comprehensive Exome Spike-in Workflow for AVITI.
· Pacific Biosciences released the PanDNA Nanobind DNA extraction kit, expanding sample compatibility for long-read sequencing.
· Ultima Genomics unveiled the UG 100 Sequencer, aimed at making genomic sequencing more affordable.
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· Early Detection and Intervention
· Cost-Effectiveness and Efficiency
· Support for Personalized Healthcare
· Cost and Accessibility
· Integration into Existing Systems
· Emergency Healthcare Applications
· Rapid Cancer Diagnosis and Personalized Treatment
The companies featured in the profile were chosen based on insights from primary experts, along with an evaluation of their coverage, product range, and market presence.
Some prominent names established in this market are:
• 10X Genomics, Inc.
• Agilent Technologies, Inc.
• Becton, Dickinson and Company
• Eurofins Scientific S.E.
• F. Hoffmann-La Roche Ltd.
• Illumina, Inc.
• OncoDNA
• MGI Tech Co., Ltd.
• MicroGen Diagnostics
• Oxford Nanopore Technologies plc
• Pacific Biosciences of California, Inc.
• Phase Genomics, Inc.
• QIAGEN N.V.
• Revvity, Inc.
• Singular Genomics Systems, Inc.
• Thermo Fisher Scientific Inc.
• Ultima Genomics, Inc.
• Element Biosciences, Inc.
According to Swati Sood, Principal Analyst – BIS Research, "The genome sequencing market is experiencing growth due to several key factors: falling costs that increase the use of genome sequencing and testing, expanding prenatal and newborn screening programs that drive demand for next-generation sequencing, broader applications of long-read sequencing, and substantial government investments and initiatives in genome sequencing projects.”
