DNA Sequencing Global Market Report 2024

The DNA sequencing market size has grown rapidly in recent years. It will grow from $11.84 billion in 2023 to $13.68 billion in 2024 at a compound annual growth rate (CAGR) of 15.6%. The historical period's growth can be ascribed to factors such as the Human Genome Project, reductions in costs, the expansion of biomedical research, the adoption of clinical diagnostics, and the needs of pharmaceutical research and development.

The DNA sequencing market size is expected to see rapid growth in the next few years. It will grow to $24.49 billion in 2028 at a compound annual growth rate (CAGR) of 15.7%. The anticipated growth in the forecast period can be attributed to advancements in next-generation sequencing (NGS), the implementation of point-of-care sequencing, initiatives in population genomics, integration of artificial intelligence (AI) and machine learning, and the adoption of precision medicine. Key trends expected in the forecast period encompass progress in single-cell sequencing, a focus on epigenetics and transcriptomics, the development of liquid biopsy techniques, considerations related to ethics and privacy, and the incorporation of nanotechnology.

The anticipated growth in the DNA sequencing market is expected to be driven by the rising prevalence of cancer. Cancer, characterized by uncontrolled cell growth impacting various organs, is a leading cause of morbidity and mortality globally. DNA sequencing plays a pivotal role in identifying genetic mutations, comprehending tumor biology, and guiding treatment decisions, ultimately enhancing outcomes in cancer care. Notably, Macmillan Cancer Support reported in October 2022 that the number of individuals with cancer was 3 million in 2020 and is projected to increase to 3.5 million by 2025, 4 million by 2030, and 5.3 million by 2040. Consequently, the escalating prevalence of cancer is a key factor propelling the growth of the DNA sequencing market.

The growing demand for personalized medicine is poised to drive the expansion of the DNA sequencing market. Personalized medicine, an innovative approach considering individual variations in genes, environments, and lifestyles, has gained prominence in medical treatment and healthcare. The emphasis on tailoring treatments to an individual's genetic makeup has led to an increased need for DNA sequencing technologies to identify specific genetic variations and guide treatment decisions. In 2022, The Personalized Medicine Coalition reported that personalized medicines accounted for 35% of newly approved new molecular entities (NMEs) in 2021. Therefore, the escalating demand for personalized medicine is a significant factor fueling the growth of the DNA sequencing market.


An emerging trend gaining traction in the DNA sequencing market is the progress in single-cell DNA sequencing technologies. Leading companies in the market are embracing innovative technologies to maintain their competitive positions. For example, in May 2023, Mission Bio Inc., a biotechnology company based in the US, introduced Tapestri v3, an advanced version of its high-throughput single-cell DNA and multi-omics analysis platform. Tapestri v3 incorporates breakthrough improvements in chemistry, significantly enhancing the detection of rare cells across various applications. Its improved cell capture capabilities allow researchers to identify previously undetectable single cells, providing a deeper understanding of diseases. This enhanced technology is particularly promising for applications such as measurable residual disease (MRD) assessment in cancer, where Tapestri v3 enables the detection of relapse-driving clones that were previously overlooked. Additionally, it offers advantages for developers of cell and gene therapy by enabling quality assessment at the single-cell level.

Major players in the DNA sequencing market are directing their efforts towards developing innovative solutions, including production-scale sequencers. These advanced DNA sequencing machines are designed for large-scale and high-throughput sequencing, facilitating the efficient processing of significant volumes of genetic material in research, clinical, or industrial settings. For instance, in September 2022, Illumina, Inc., a US-based biotechnology company, launched the 'NovaSeq X Series,' a new production-scale sequencer capable of sequencing more than 20,000 genomes per year with the highest levels of accuracy. This sustainable high-throughput sequencer achieves a 90% reduction in packaging, a 50% reduction in plastic waste, and eliminates the need for dry ice shipments, enhancing global access to genomic medicine and demonstrating a commitment to environmental responsibility.

In August 2021, ProPhase Labs Inc., a US-based next-generation biotech, genomics, and diagnostics company, completed the acquisition of Nebula Genomics for $14.6 million. Through this acquisition, ProPhase Labs aims to integrate Nebula's whole-genome sequencing services with its existing clinical diagnostic testing services, enhancing its capabilities and offerings in genetic testing. Nebula Genomics is a US-based company specializing in whole-genome sequencing services.

Major companies operating in the DNA sequencing market report are F. Hoffmann-La Roche Ltd, Abbott Laboratories Inc., Thermo Fisher Scientific Inc., Danaher Corporation, Merck KGaA, Siemens Healthineers AG, Eurofins Scientific SE, Agilent Technologies Inc., Illumina Inc., PerkinElmer Inc., Bio-Rad Laboratories Inc., QIAGEN N.V., BGI Genomics, Myriad Genetics Inc., Natera Inc., 10x Genomics Inc., GenScript Biotech Corporation, Novogene Corporation, Twist Bioscience, Genewiz LLC, Oxford Nanopore Technologies Ltd., Pacific Biosciences of California Inc., Macrogen Inc., LI-COR Inc., MGI Tech Co. Ltd., Zymo Research Corporation, Igenomix, Codex DNA, GenapSys Inc., SeqOnce Biosciences Inc.

North America was the largest region in the DNA sequencing market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the DNA sequencing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the DNA sequencing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The primary components of DNA sequencing are instruments, consumables, and services. Instruments, defined as mechanical tools or implements, particularly those used for delicate or precise operations, are employed in DNA sequencing to automate and execute the various steps involved in sequencing DNA samples. Technologies such as third-generation DNA sequencing, next-generation sequencing, and Sanger sequencing are applied in diagnostics, biomarkers and cancer research, reproductive health studies, personalized medicine initiatives, forensics, and other scientific domains. This technology is utilized by a diverse range of entities, including hospitals and healthcare organizations, academic and research institutions, as well as pharmaceutical and biotechnology companies.

The DNA sequencing market research report is one of a series of new reports that provides DNA sequencing market statistics, including the DNA sequencing industry's global market size, regional shares, competitors with an DNA sequencing market share, detailed DNA sequencing market segments, market trends and opportunities, and any further data you may need to thrive in the DNA sequencing industry. This DNA sequencing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The DNA sequencing market consists of revenues earned by entities by providing bioinformatics and data analysis software and sequencing services. The market value includes the value of related goods sold by the service provider or included within the service offering. The DNA sequencing market also includes sales of DNA sequencing kits, sequencing reagents, and laboratory equipment used in providing DNA sequencing services. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.


The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).


The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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