DNA Sequencing Market size is estimated at USD 12.9 billion in 2024 and is expected to reach USD 69.7 billion by the end of 2037, registering a CAGR of 15.1% during the forecast period., i.e., 2025-2037. In 2025, the industry size of DNA sequencing is assessed at USD 14.8 billion.
The demand for faster cancer diagnosis is one of the most prominent drivers to boost global DNA sequencing market growth during the forecast period. DNA sequencing has seen a broader use in various applications due to the rapid advances in bioinformatics. The rising cases of cancer globally have boosted the demand for advanced DNA sequencing to help identify the changes in the cancer genome.
DNA sequencing helps identify the DNA changes that can increase the cancer risks in an individual. As per a World Health Organization (WHO) report in February 2024, there were an estimated 20 million new cancer cases and 9.7 million deaths. The report stated that 1 in 5 people develop cancer in their lifetime. DNA sequencing can identify the acquired changes and help in choosing appropriate targeted therapies. National governments are now investing more in DNA sequencing research to expand the DNA sequencing market growth to streamline the future care of its citizens.
As per the current trends in DNA sequencing research, next-generation sequencing (NGS) has led to the ability to analyze DNA molecules accurately and cost-effectively. In April 2023, researchers at MIT and Harvard developed Concatenating Original Duplex for Error Correction (CODEC), which increases the efficacy of next-generation sequencing by 1000%. CODEC can monitor minute cancer mutations in blood samples and identify mutations leading to rare diseases. Groundbreaking research such as this is enhancing global DNA sequencing market growth.
Growth Drivers
Challenges
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
15.1% |
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Base Year Market Size (2024) |
USD 12.9 billion |
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Forecast Year Market Size (2037) |
USD 69.7 billion |
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Regional Scope |
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Technology (Next Generation Sequencing, Third Generation Sequencing, Sanger Sequencing)
The next-generation sequencing segment in the DNA sequencing market is expected to account for the largest revenue share of 66.2% during the forecast period. NGS significantly lowers the cost of sequencing and can yield comprehensive and accurate results quickly. The demand for this segment is significantly high since millions of DNA fragments can undergo simultaneous analysis using NGS sequencing. In recent trends, NGS sequencing costs are continuing to decline, improving accessibility and scope of investments. For instance, in 2022, the American Society for Microbiology (ASM) was awarded funding from the Centers for Disease Control and Prevention (CDC) to offer advanced training on NGS.
Other factors playing a role in this segment’s market growth are the new product launches by the market players. For instance, Qiagen Digital Insights released QIAGEN CLC Genomics Workbench Premium in January 2023, which improves the speed for whole genome sequencing (WGS). With rising technological advancements to increase accuracy, the ability to read longer DNA stretches, and develop personalized medicines, this segment is poised to grow at a rapid rate.
Product (Consumables, Instrument, Services)
The consumables segment in the DNA sequencing market accounted for a significant revenue share in 2023. A large number of consumable goods i.e. sequencing consumables, are required during sequencing. Sequencing consumables are required in different stages of a DNA sequencing workflow. Some sequencing consumables are reagents including nucleotides and dye terminators, and kits such as sample preparation kits, and library preparation kits. The demand for consumables has increased due to the continuous advancement in DNA sequencing methods. The growth of this segment is expected to rise during the forecast period due to the increasing use of genomics in healthcare and research.
Our in-depth analysis of the DNA sequencing market includes the following segments:
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Technology |
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Product |
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Application |
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End use |
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North America Market Statistics
The North America DNA sequencing market is expected to account for the largest revenue share of 51.5% during the forecast period. The key drivers are the large number of investments in research & development, the presence of key industry players, robust research infrastructure, technological innovations, and increasing applications in clinical practice.
The U.S. market is poised to account for a significant share during the forecast period. During the pandemic, the government invested USD 1.7 billion to increases the genomic sequencing of the country. In 2022, research published by scientists at Stanford sequenced a human genome in 5 hours and 2 minutes. This was the fastest sequencing in human history. Such innovations and government funding to boost the research ecosystem are conducive for market growth. Leading players in the U.S. market are also regularly launching new products owing to a robust regulatory panel thereby boosting the market growth.
In Canada, the government has made considerable efforts to boost genomic research. In October 2023, the Minister of Health announced a USD 15 million investment to establish a Pan-Canadian Genome Library to streamline genomic data sharing across the nation. The country also boasts some of the best sequencing facilities such as Donnely Sequencing Centre, StemCore Laboratories, and Michael Smith Genome Sciences Center among others. Increased focus on precision healthcare, greater investments in genome research, and an innovation-driven approach are key drivers to the market growth in Canada.
Asia Pacific Market Analysis
The DNA sequencing market in Asia Pacific is poised to grow at the fastest rate during the forecast period owing to greater investments in research and the need for advanced healthcare for a large proportion of the population. Additionally, governments in countries such as South Korea, India, China, and Japan have funded national genome research projects to maintain a national database that will streamline the diagnostics for precision medicine.
In India, the DNA sequencing market is expected to drastically increase during the forecast period. A key driver is the increased research funding for the development of DNA sequencing. As per a Human Genomics report in 2019, there are 64.4 genetic defects per 1000 live births in the country. As per a report by Globocan in 2022, cancer cases in India will see a 57.5 increase by 2040 in India. The rising trajectory of diseases increases the demand for advanced genome sequencing data, evident from government initiatives, including, GenomeIndia.
China has the largest DNA sequencing market share in Asia Pacific. As per an NLM report, China’s Beijing Genomics Institute is the currently largest NGS sequencing center in the world after purchasing 128 new HiSeq 2000 genome sequences from Illumina. Recent trends indicate a significant boost in genome research such as the sequencing of giant pandas. In 2024, researchers in China unveiled the first complete genome of a Han Chinese, a landmark event in representation of Asian genome data.
The DNA sequencing market has witnessed rapid growth especially during and after the COVID-19 pandemic. The coronavirus mutations led to increased awareness and funding for the study of genomes and maintaining national depositories of genome data by many nations. The market is highly competitive, with numerous global and regional players seeking to innovate and solve the pain points of end users.
The key players in the DNA sequencing market are focused on expanding production capacities and investing in R&D to improve products making them more accurate and cost-effective. The market players are implementing strategies such as product launches, mergers & acquisitions, and strategic partnerships to enhance their market while retaining their position. Here are some key players dominating the global DNA sequencing market:
Author Credits: Radhika Pawar
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