BOSTON, Sept. 8, 2022 /PRNewswire/ -- Since its inception, DNA sequencing has brought about major advancements in our understanding of biology. The breadth of information this technology can offer has the potential to revolutionize healthcare, drug discovery, and many other fields. The importance of DNA sequencing has been further emphasized by the COVID-19 pandemic, which highlighted the need for infrastructure to effectively track and monitor outbreaks – a task well suited for DNA sequencing. IDTechEx has recently released "DNA Sequencing 2023-2033: Technologies, Markets, and Forecasts", a market research report exploring the technology and market of the US$8.2 billion DNA sequencing industry.
DNA sequencing technology has progressed in bounds over the years, and this led costs of sequencing to fall drastically over the previous decade-even outpacing Moore's law. However, this development has since slowed. While technological challenges are a major contributor, a lack of competition in the industry is expected to play a significant part.
This could be set to change within the next few years. "Third-generation" sequencing platforms, such as single-molecule real-time (SMRT) and nanopore sequencing devices, have recently entered the market; these can provide unprecedented read lengths and real-time sequencing and may pose a serious challenge to the current market leaders. In particular, several nanopore sequencers have also been deployed as portable devices; these are the first of their kind and have led to an expansion of the use cases of sequencing. Early use cases have been in rapid response epidemic surveillance and field studies in ecology, with more potential uses being explored constantly.
While third generation sequencing comes with many notable advantages, it also faces several prominent disadvantages. Among these is the relatively low accuracy: despite improvements driven by technological advancement, it remains that third generation platforms are generally less accurate than the industry standard. This, paired with a comparative lack of established informatics pipelines, may hinder their widespread uptake.
While the full potential of third generation sequencing may still remain unclear, it is undeniable that their development has reinvigorated competition within the market. The latest IDTechEx report, "DNA Sequencing 2023-2033: Technologies, Markets, and Forecasts", examines the DNA sequencing industry in detail to provide insight and analyze the potential impact third generation sequencing devices can have. Historic first generation Sanger sequencing, dominant second generation reversible terminator sequencing, and third generation nanopore sequencing are only a few examples of the various sequencing methods discussed in the report. In-depth technical analyses are only one part of the report; to truly understand the sequencing market, we have also examined the requirements of various potential applications of sequencing. Case studies of business models and the strategies employed by players across the industry have also been carried out to inform potential entrants as to the barriers of entry to the market.
The report concludes with two separate 10-year market forecasts, covering the market revenue by sequencing device generation and market segment separately. The segments considered are that of sequencing devices, consumables, sequencing-as-a-service, and supporting hardware. Based on IDTechEx's technical and industry analysis, the market revenue of DNA sequencing is forecast to reach over US$12 billion by 2033. To find out more please visit www.IDTechEx.com/DNA.
IDTechEx guides your strategic business decisions through its Research, Subscription and Consultancy products, helping you profit from emerging technologies. For more information, contact research@IDTechEx.com or visit www.IDTechEx.com.
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