Dublin, March 29, 2021 (GLOBE NEWSWIRE) -- The "Genome Sequencing Market - Global Outlook and Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.
The global genome sequencing market by revenue is expected to grow at a CAGR of over 9% during the period 2021-2026.
The global market is expected to grow due to the growing number of rare, terminal, and complex diseases, especially cancer. The constant increase in cancer cases is proportionately increasing the number of sequencing-based diagnostics and treatment options in the market. The introduction of single-cell sequencing technology performs advanced sequencing, thereby helping in cell mapping of tumor cells.
This technology is widely used in several tumor researches and has been significantly beneficial for developing new diagnostic and anti-tumor treatment methods. The single-cell analysis has become a standard application both in basic and translational research. This technology is widely used in the field of reproductive and embryonic medicine. It can sequence and quantify the whole genome of germ cells and embryonic cells at the single-cell level, thereby helping researchers to understand the occurrence of germ cells.
Global Genome Sequencing Market Segmentation
The global genome sequencing market research report includes a detailed segmentation by product, application, end-user, geography. The steady rise in the sale of high-end consumables in commercial laboratories, research institutes, academic institutes, and large pharma and biotech companies performing a high volume of sequencing-based processes is a significant factor responsible for the growth of consumables. In 2020, the consumables segment accounted for the largest share in the market with 81%.
The recurring application of consumables to perform a wide range of sequencing-based studies and diagnostics is another critical factor for high sales for consumables. Moreover, increased preference for array-based genotyping consumables for a wide range of analysis, disease-related mutations, and genetic characteristics associated with cancer research is further expected to increase the demand for consumables during the forecast period. High innovations and the introduction of high throughput advanced technologies are likely to drive the application of sequencing devices. These devices are capable of sequencing million to billion reads in a single run in less time.
New cancer cases are expected to reach 24 million by 2030, which is likely to augur well for oncology genome sequencing growth. As cancer prevalence is growing, the need for effective patient stratification is driving research efforts to identify biomarkers and develop companion diagnostics. Genome sequencing has opened new ways of studying cancer-related conditions.
Cancer sequencing using next-generation sequencing (NGS) methods provides more information in less time compared to traditional single-gene and array-based approaches. Hence, NGS technology has the potential to change the future of oncology and deliver personalized medicine. They have revolutionized the diagnosis and treatment of acute myeloid leukemia (AML) with accurate testing, classification, and the ability to take advantage of precision medicine.
The presence of several research institutes and stand-alone genomic laboratories in the US, the UK, Germany, France, and China is a major factor responsible for the growth of genome sequencing devices. To develop personalized and effective new therapies that restore mobility, enhance the quality of life, and improve surgical outcomes for patients with multiple disorders, these centers perform extensive research on sequence structural levels of genomics.
Hence, the increased focus on unraveling genetic components of common and complex diseases, including cancer diagnostics, neurological disorders, infectious diseases, and rare childhood disorders, influences the market.
Insights by Vendors
Illumina, Thermo Fisher Scientific, F. Hoffmann-La Roche, BGI, Pacific Biosciences, Oxford Nanopore Technology are the major vendors in the market.
The market is competitive and is evolving with the introduction of new technologies in the market. Several companies are developing or commercializing products, expanding their manufacturing facilities, partnering with others in the market. For instance, in 2020, Illumina introduced software for whole-genome analysis to examine rare diseases. Similarly, Thermo Fischer scientific has made a strategic partnership with First genetics JCS to promote NGS in Russia.
The Oxford Nanopore technology, nanopore-based sequencing, and Pacbio's SMRT technology-based sequencing revolutionize genome sequencing by reducing cost and increasing throughput, attracting end-users to shift from conventional sanger methods to advanced methods in the market.
The following factors are likely to contribute to the growth of the genome sequencing market during the forecast period:
Increase in Demand for Single Cell Sequencing
Introduction of Portable Genome Sequencing Devices
The emergence of Nanopore, Third Generation Genome Sequencing Platform
Key Questions Answered
What technological advances are the genome sequencing market observing?
What is the growth rate of the genome sequencing market during the forecast period?
How the outbreak of the COVID-19 pandemic affect the genome sequencing market?
Which regions are likely to hold the largest revenue share during the forecast period?
Which end-user segment accounted for the largest market share in 2021?
Thermo Fisher Scientific
Oxford Nanopore Technology
F. Hoffmann-La Roche
Other Prominent Vendors
New England Biolabs
Key Topics Covered:
1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage
4.1 Market Definition
4.2 Base Year
4.3 Scope of The Study
4.4 Market Segments
5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation
6 Market at a Glance
8 Market Opportunities & Trends
8.1 Increase In The Demand For Single-Cell Sequencing
8.2 Introduction Of Portable Genome Sequencing Devices
8.3 Emergence Of Nanopore, Third Generation Genome Sequencing Platform
9 Market Growth Enablers
9.1 Rising Patient Population
9.2 Declining Cost of Genome Sequencing
9.3 Increasing Genome Sequencing Service Providers
10 Market Restraints
10.1 Influence Of The COVID-19 Pandemic On The Genome Sequencing Market
10.2 Low Penetration Of Genome Sequencing In Developing Countries
10.3 Ethical & Regulatory Concerns Associated With Genome Sequencing
11 Market Landscape
11.1 Market Overview
11.2 Market Size & Forecast
11.3 Five Forces Analysis
12.1 Market Snapshot & Growth Engine
12.2 Market Overview
12.4 Sequencers & Software
13.1 Market Snapshot & Growth Engine
13.2 Market Overview
13.4 Reproductive Health
13.5 Complex Disease Research
13.6 Microbial Research
14.1 Market Snapshot & Growth Engine
14.2 Market Overview
14.3 Academic & Research Institutes
14.4 Pharma & Biotechnology Companies
14.5 Consumer Genomic Service Providers
14.6 Government and Commercial Labs
15.1 Market Snapshot & Growth Engine
15.2 Geographic Overview
For more information about this report visit https://www.researchandmarkets.com/r/8fk214
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