In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this Global Genome Sequencing Market Report. The global genome sequencing market by revenue is expected to grow at a CAGR of over 9% during the period 2021–2026.
New York, March 18, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Genome Sequencing Market - Global Outlook and Forecast 2021-2026" - https://www.reportlinker.com/p06036817/?utm_source=GNW
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.
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
The study considers the genome sequencing market’s present scenario and its market dynamics for the period 2020?2026. It covers a detailed overview of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspects of the market. It profiles and examines leading companies and other prominent ones operating in the market.
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.
• Sequencers & Software
• Reproductive Health
• Complex Disease Research
• Microbial Research
• Academic & Research Institutes
• Pharma & Biotech Companies
• Consumer Genomic Service Providers
• Government & Commercial Laboratories
INSIGHTS BY GEOGRAPHY
North America and Europe are the largest genome sequencing market across the globe. They are the leading countries to increase the usage of genome sequencing-based healthcare and diagnostics. The US is the largest revenue contributor to the North American market. The advanced healthcare infrastructure and the increased awareness have slowly increased genome sequencing and cell and gene therapies technology penetration. Multiple initiatives for human genome projects in the US have improved patients’ flow seeking treatment for several terminal and genetic diseases. With advances in technology and the increased demand for personalized treatment, the US genomic sequencing market is poised for growth. The increased awareness among European patients drives the application of personal genome sequencing testing, especially for reproductive health. There is an increased number of consumer genomic service providers in the market.
• North America
o South Korea
• Latin America
• Middle East & Africa
o Saudi Arabia
o South Africa
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.
• Thermo Fisher Scientific
• Oxford Nanopore Technology
• Pacific Biosciences
• F. Hoffmann-La Roche
Other Prominent Vendors
• Siemens Healthineers
• Intrexon Bioinformatics
• 10x Genomics
• MGI Tech
• New England Biolabs
• Beckman Coulter
KEY QUESTIONS ANSWERED
1. What technological advances are the genome sequencing market observing?
2. What is the growth rate of the genome sequencing market during the forecast period?
3. How the outbreak of the COVID-19 pandemic affect the genome sequencing market?
4. Which regions are likely to hold the largest revenue share during the forecast period?
5. Which end-user segment accounted for the largest market share in 2021?
Read the full report: https://www.reportlinker.com/p06036817/?utm_source=GNW
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