The Genome Sequencing Market involves the use of various technologies and products to determine the complete DNA sequence of an organism's genome. This process has revolutionized the field of genetics and has numerous applications in diagnostics, drug discovery, precision medicine, and research.
Latest Trends
- Advancements in Next-Generation Sequencing (NGS) Technologies: NGS technologies have made genome sequencing faster, cheaper, and more accurate.
- Increasing Adoption of Precision Medicine: Genome sequencing is playing a crucial role in the development of precision medicine, which involves tailoring medical treatment to an individual's unique genetic profile.
- Growing Demand for Genome Sequencing in Cancer Research: Genome sequencing is being increasingly used in cancer research to identify genetic mutations associated with different types of cancer.
Genome Sequencing Market Size
According to Straits Research, the global Genome Sequencing Market size was valued at USD 41.92 billion in 2023 and is projected to reach from USD 46.82 Billion in 2024 to USD 101.23 billion in 2032, growing at a CAGR of 11.7% during the forecast period (2024–2032).
Key Opportunities
The increasing demand for genome sequencing in diagnostics, drug discovery, and precision medicine is expected to drive the growth of the market. Additionally, the decreasing cost of genome sequencing and the increasing adoption of NGS technologies are also expected to contribute to the growth of the market.
Key Players
Some of the key players in the Genome Sequencing Market include:
- Illumina
- Thermo Fischer Scientific
- Oxford Nanopore Technology
- Pacific Biosciences
- F. Hoffmann-La Roche
- PerkinElmer
- Siemens Healthineers
- Macrogen
- Myriad Genetics
- Cytiva
- BioMatter
- 10x Genomics
- BGI
- MGI Tech
Market Segmentations
The Genome Sequencing Market can be segmented into the following categories:
- By Product Type:
- Instruments
- Reagents and Consumables
- Software and Services
- By Technology:
- Next-Generation Sequencing
- Sanger Sequencing
- Third-Generation Sequencing
- Single-Molecule Real-Time Sequencing
- Others
- By Applications:
- Diagnostics
- Drug Discovery
- Precision Medicine
- Environmental Genomics
- Research
- Others
- By End-User:
- Hospitals and Clinics
- Biotechnology and Pharmaceutical Companies
- Contract Research Organizations (CROs)
- Government
- Research Centers
- Academic and Government Institutes
About Straits Research
Straits Research is a top provider of business intelligence, specializing in research, analytics, and advisory services, with a focus on delivering in-depth insights through comprehensive reports.
Contact Us
Email: sales@straitsresearch.com
Address: 825 3rd Avenue, New York, NY, USA, 10022
Phone: +1 646 905 0080 (US), +91 8087085354 (India), +44 203 695 0070 (UK)
