Genome Sequencing Market Analysis and Forecast Report 2024-2033: Rising Prenatal and New-Born Screening Programs Facilitating the Demand for Next-Generation Sequencing - ResearchAndMarkets.com

The "Genome Sequencing Market - A Global and Regional Analysis: Focus on Product, Technology, Application, Type, End User, and Region - Analysis and Forecast, 2024-2033" report has been added to ResearchAndMarkets.com's offering.

The global genome sequencing market was valued at $7.56 billion in 2023 and is expected to reach $30.23 billion by 2033, growing at a CAGR of 15.18% between 2024 and 2033.

The genome sequencing market is experiencing rapid growth, driven by increasing demand among researchers for tools capable of generating richer, more comprehensive data across various omics disciplines such as genomic, transcriptomic, and epigenetics. Recent advances in genomic technologies have sparked new therapies and diagnostics, but full integration into clinical practice is hindered by challenges such as long analysis times. Innovations, such as Illumina's long-read sequencing, are improving data handling and expanding applications in fields such as disease surveillance and environmental monitoring.

With the growing accessibility and affordability of genome sequencing, its adoption is increasing across various industries, notably in personalized medicine and genetic research. This trend underscores the vital role of genome sequencing in exploring and addressing genetic diseases and conditions. As this technology continues to advance, the genome sequencing market is poised for considerable expansion and innovation, significantly impacting the healthcare sector.

The North America region is positioned to hold a significant share of the global market for several compelling reasons, including a robust ecosystem of innovative biotechnology and life sciences companies. The Asia-Pacific region has experienced rapid market growth due to rising healthcare investments and advancements in genomic technologies. Major countries such as China, Japan, and Australia are in charge of applying genome sequencing in healthcare and agriculture. With its substantial population and evolving healthcare infrastructure, the Asia-Pacific market is positioned for significant expansion.

Recent Developments in the Genome Sequencing Market

• In February 2024, Volta Labs, a genomics applications company, and Element Biosciences, Inc., a developer of pioneering technologies, collaborated to optimize sequencing throughput with the launch of Volta's Callisto Sample Prep System for Element's AVITI platform.
• In February 2024, Twist Bioscience Corporation and Element Biosciences, Inc. collaborated to develop the Twist for Element, Exome 2.0 plus Comprehensive Exome Spike-in Workflow for Element's AVITI System.
• In January 2024, Pacific Biosciences of California, Inc. unveiled PanDNA, a versatile Nanobind DNA extraction kit. This new product broadens the spectrum of sample types compatible with long-read sequencing, encompassing cells, bacteria, blood, tissue, plant nuclei, and insects.
• In February 2024, Ultima Genomics, Inc. launched the UG 100 Sequencer to drive forward affordable genomic sequencing.

Demand - Drivers, Challenges, and Opportunities

Market Drivers:

Rising Prenatal and New-Born Screening Programs Facilitating the Demand for Next-Generation Sequencing: Integrating next-generation sequencing (NGS) into new-born screening programs is boosting the global genome sequencing market. NGS allows early detection of multiple genetic disorders in a single test, enabling timely interventions and reducing infant mortality. As NGS technology advances and becomes more cost-effective, it consolidates multiple tests into one and supports personalized healthcare, driving substantial market growth.

Market Challenges:

Genomic Data Disparity in Developing Countries: A major challenge in the genome sequencing market is the lack of genomic data from African populations, as highlighted in a 2023 Nature paper. Most genetic data is from European ancestries, leading to less effective diagnostics for Africans. African genomes are highly diverse but underrepresented, causing potential misdiagnoses. Limited infrastructure and workforce further hinder precision medicine in Africa. Increased investment in genomic research and infrastructure is needed to address this gap and ensure equitable market growth.

Market Opportunities:

Emergence of Portable Genome Sequencing Enabling Bedside Testing: Advancements in point-of-care testing (POCT) technologies are boosting the global genome sequencing market with portable devices such as Oxford Nanopore's MinION. These devices enable immediate, onsite testing, which is crucial in emergency healthcare settings. They proved effective during the Ebola outbreak by identifying viral pathogens quickly. Portable genome sequencing also aids in rapid cancer diagnosis and personalized treatment. Streamlined sample preparation and compact platforms such as the SmidgION enhance their versatility, even in challenging environments, creating significant market opportunities for portable genome sequencing solutions.

Key Market Players and Competition Synopsis

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.

Key Attributes:

Key Topics Covered:

1 Global Genome Sequencing Market: Industry Analysis

1.1 Key Trends: Current and Future Impact Assessment

1.1.1 Integration of Artificial Intelligence and Machine Learning in Genome Sequencing

1.1.2 Increasing Partnerships, Alliances, and Business Expansions among Key Players

1.2 Regulatory Analysis

1.3 Value and Supply Chain Analysis

2 Global Genome Sequencing Market: Market Dynamics

2.1 Impact Analysis

2.2 Market Drivers

2.2.1 Decreasing Cost of Genome Sequencing Enabling High Usage of Genome Sequencing/Testing

2.2.2 Rising Prenatal and New-Born Screening Programs Facilitating the Demand for Next-Generation Sequencing

2.2.3 Expanding Applications of Long-Read Sequencing

2.2.4 Government Investments and Initiatives in Genome Sequencing Projects

2.3 Market Restraints

2.3.1 Data Management Challenges in Genome Sequencing

2.3.2 Genomic Data Disparity in Developing Countries

2.4 Market Opportunities

2.4.1 Emergence of Portable Genome Sequencing Enabling Bedside Testing

2.4.2 Multiomics Shaping the Global Genome Sequencing Landscape

3 Global Genome Sequencing Market: Future Outlook

3.1 Patent Analysis

3.2 Competitive Benchmarking

3.3 Sequencing Clinical Adoption

3.4 Future Outlook

4 Global Genome Sequencing Market (by Product)

4.1 Product Summary

4.2 Kits

4.3 Instruments

4.4 Software

5 Global Genome Sequencing Market (by Technology)

5.1 Technology Summary

5.2 By Competitive Analysis

5.3 First-Generation Sequencing

5.4 Next-Generation Sequencing

5.5 Third-Generation Sequencing

5.6 Fourth-Generation Sequencing

6 Global Genome Sequencing Market (by Type)

6.1 Type Summary

6.2 Whole Genome Sequencing

6.3 Whole Exome Sequencing

6.4 Targeted Sequencing

6.5 RNA Sequencing

7 Global Genome Sequencing Market (by Application)

7.1 Application Summary

7.2 Research

7.3 Clinical Diagnostics

7.4 Biopharma R&D

7.5 Food and Agriculture

7.6 Forensics

8 Global Genome Sequencing Market (by End User)

8.1 End User Summary

8.2 Pharmaceutical and Biotechnology Companies

8.3 Hospitals and Diagnostic Laboratories

8.4 Population Sequencing Organizations

8.5 Research and Academic Institutes

8.6 Others

9 Global Genome Sequencing Market (By Region)

9.1 Regional Summary

9.2 Drivers and Restraints

9.3 North America

9.4 Europe

9.5 Asia-Pacific

9.6 Latin America

9.7 Rest-of-the-World

10 Global Genome Sequencing Market - Competitive Benchmarking and Company Profiles

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