DNA Sequencing Market Trends

Growth Drivers

• Rapid technological advancements in next-generation sequencing: There have been considerable technological advancements in next generation sequencing (NGS), which has filled the information gaps in traditional DNA sequencing methods.  NGS can sequence an entire genome in a few days by parallelly sequencing DNA and RNA. The DNA sequencing market growth has experienced a boost since NGS sequencing methods are much faster, more accurate, and cost-effective compared to first generation DNA sequencing methods.
  
  Nanopore, SMRT, and Illumina are examples of NGS and other sequencing methods, currently under research. As per a National Library of Medicine (NLM) report, Illumina HiSeq2000 has a very low expense rate and costs USD 0.10 dollars per 1MB, meaning a whole genome can be estimated at USD 300. The low costs and highly accurate results of NGS sequencing are significant driving factors boosting the DNA sequencing market growth.
• Growing demands for precision medicine: Precision or personalized medicine can be more effective by determining what works best for an individual based on their genetic profile. As per an NLM report in March 2023, a GUARDIAN program is underway in New York to sequence the genomes of more than 10,000 babies to screen for rare genetic diseases. The UK has introduced a similar program for 100,000 infants from 2023 to identify 200 disorders. The goal is to identify disorders early based on individual genetic profiles to start early diagnosis and care. Such programs and the increasing efficacy of precision medicine has a positive impact on the market growth.

Challenges

• Breach of privacy concerns: There are concerns raised on the security of genetic data and its misuse which can hamper the market growth. As per a Guardian report in 2023, a security breach in company 23andMe affected the data of around 7 million people. Genetic data can reveal an individual’s health characteristics, ancestry, and also information on his/her family which is why privacy concerns are high. Ethical concerns include geneticists revealing an individual’s data based on their condition.
• Slow integration into clinical practice: Although sequencing has positive results, its integration into clinical practices has been slow. A smooth integration into clinical practice requires changes in workflow and training healthcare providers which can increase initial costs. There are also computational challenges in filtering the raw data from DNA sequencing.