DNA sequencing products: Key market research findings
- Development of rapid sequencing platforms drives market growth
- Americas dominate the market geographically
- Key vendors – Illumina, Thermo Fisher Scientific, Roche Diagnostics, and Pacific Biosciences
Technavio’s market research analysts predict the global DNA sequencing products market to grow at a CAGR of around 19% between 2016 and 2020. The development of rapid sequencing platforms is the primary driver for growth in this market. Rapid sequencing platforms, including next-generation methods, make it possible for physicians to determine an individual’s unique genetic disorder. Such platforms enable physicians to develop personalized and effective treatments. During 2015, the Americas occupied more than 50% of the market share to dominate the global deoxyribonucleic acid (DNA) sequencing products market. The market is flourishing in this region owing to the presence of more than 20 established companies that compete for the sales of these products. The extensive adoption of DNA sequencing technologies by clinical laboratories and pharmaceutical companies spurred by the incidence of chronic diseases such as Alzheimer’s disease, multiple sclerosis, autoimmune diseases, and cancer is expected to propel growth in the DNA sequencing products market in the Americas during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the DNA sequencing products segments based on the product.
“An increase in the number of partnerships and collaborations is the latest trend in the global DNA sequencing products market. Vendors are entering into partnerships and collaborations to extend their product offerings, increase market shares, and expand operations across geographies. Such partnerships and collaborations also enable vendors to enhance their research and development (R&D) capabilities for manufacturing innovative devices that meet consumer needs. For instance, in 2015, Human Longevity entered into a partnership with Roche Diagnostics to conduct whole-genome sequencing of Roche Diagnostics’ subsidiary Genentech’s de-identified samples,” says Barath Palada, Lead Analyst, Healthcare & Lifesciences, Technavio Research.
The reagents and consumables segments occupied more than 57% of the market share to dominate the global DNA sequencing products market in 2015. Reagents are chemical substances or mixtures used during DNA sequencing procedures while consumables are components necessary for the selection and enrichment of DNA sequencing. They also provide the user with an easy interface to the system. There is an increase in investments in reagents and consumables by sequencing suppliers due to the high return-on-investment. The presence of a large installed base of equipment coupled with favorable reimbursement scenarios is likely to boost growth in the reagents and consumables market in the coming years.
The key vendors in the market include Illumina, Thermo Fisher Scientific, Roche Diagnostics, and Pacific Biosciences. The global DNA sequencing products market is highly competitive due to the presence of several established vendors that have sizeable market shares. The competition is expected to intensify as vendors are investing in product portfolio expansion and engaging in strategic alliances. Global vendors are increasingly engaging in M&A of local and regional vendors to grow inorganically in the market. Whereas, local and regional vendors are likely to form strategic alliances with global players to enter into the emerging markets and expand their consumer base.
A more detailed analysis is available in the Technavio report, Global DNA Sequencing Products Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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