Global DNA Sequencing Market - Increasing Adoption in Clinical Workflows to Boost Growth | Technavio

Technavio has published a new market research report on the global DNA sequencing market 2018-2022 under their healthcare and life sciences library. (Graphic: Business Wire)

LONDON--()--The global DNA sequencing market is expected to grow at a CAGR of close to 21% during the period 2018-2022, according to a new market research study by Technavio.

The report categorizes the global DNA sequencing market based on the type of products such as services and instruments, reagents, and consumables. The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA.

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Market driver: all-inclusive cost structure of sequencing products

Cost is a key driver for the growth of any market. Earlier, the cost structure of sequencing was ambiguous. However, a new approach has been developed, which is all-inclusive. In this approach, the cost of sequencing is calculated by breaking down the full economic cost of a sequencing project, which includes the cost of components, direct costs, and indirect costs.

According to a senior analyst at Technavio for life science research tools, “This approach provides better insights into the cost structure of sequencing projects to end-users and funding agencies. Hence, it helps them plan their research better. It also helps reduce the volume of sequencing and increase the volume of data. This helps in decreasing the cost of sequencing, and with the growing amount of sequence data, it enables better research. Hence, detailed cost structure has increased the demand for DNA sequencing.”

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Market trend: increasing adoption in clinical workflows

The increased adoption of sequencing services in life sciences encourages researchers in healthcare to integrate DNA sequencing data into clinical workflows. Currently, only a small number of clinics have worked on sequencing data in personalized healthcare. The penetration of DNA sequencing products and services into healthcare is estimated to increase during the forecast market owing to increased awareness of genetic testing in patient care among clinicians and patients. One case where DNA sequencing helped in patient care was the detection of the BRCA gene mutation in breast cancer.

Market challenge: high cost of sequencing systems

Even though NGS has significantly reduced the cost of sequencing compared with existing systems, the NGS products and services may still not be feasible for small-scale laboratories that have controlled allocation of funds. Since DNA sequencing involves handling high throughput data, maintaining precision and accuracy would require highly professional personnel and cutting-edge technology and machinery. Thus, the high cost of genomic sequencing systems can discourage small-scale industries and account for the low adoption rate of these systems by research laboratories.

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Some of the major contributors to the global DNA sequencing market:

  • BGI
  • F. Hoffmann-La Roche
  • Illumina
  • Pacific Biosciences of California
  • Thermo Fisher Scientific

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com

Release Summary

The global DNA sequencing market is expected to grow at a CAGR of close to 21% during the period 2018-2022, according to Technavio.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com