Sequencing Market Competitive Analysis Key Trends Driving Industry Revenue Growth By 2022

The Business Research Company's Sequencing Market under healthcare services category covers market characteristics, key players, market size and trends
By: The Business Research Company
SINGAPORE - Jan. 20, 2020 - PRLog -- The global sequencing market reached a value of nearly $7.9 billion in 2018, having grown at a compound annual growth rate (CAGR) of more than 14.5% since 2014. Growth in the sequencing market in the historic period resulted from use of sequencing techniques for drug development, increased funding from government and private organizations and lower cost of analysis.

The sequencing market consists of sales of sequencing instruments, consumables, software and services. It includes the instruments, consumables, software and services used for sequencing deoxyribonucleic acid (DNA) or ribonucleic acid (RNA) samples of human, animal, plant and microbial species.

Sequencing techniques are used for identifying rare genetic mutations by scanning a large number of biological databases, thereby shortening the time required to identify new drug candidates. (Approximately 90% of potential medicines fail during clinical trials and most of these failures are due to an incomplete understanding of the biological target of a drug for that disease).

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The market was also affected by the additional costs for storage and processing equipment required for the large amount of data generated through sequencing techniques. For instance, the size of a BAM file (a semi compressed alignment file) for a single 30X human whole-genome sample is around 90 GB.

North America is the largest market for sequencing, accounting for almost 51% of the global market. It was followed by Europe and Asia Pacific and then the other regions. Going forward, the Asia-Pacific will be the fastest growing region in this market.

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Some of the major players involved in the sequencing market are Illumina, Inc., Thermo Fisher Scientific, Inc., Eurofins Scientific SE, Myriad Genetics, Inc., QIAGEN N.V, Agilent Technologies, Inc., PerkinElmer, Inc., Roche Holding AG, Bio-Rad Laboratories, Inc., Pacific Biosciences of California, Inc.

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