Global Population Sequencing Market: Focus on Product, Method, Technology, Application, Country, and Competitive Landscape - Analysis and Forecast, 2020-2030
Global Population Sequencing Market to Reach $64,047.6 Million by 2030
Market Report Coverage - Global Population Sequencing Market
- Product Type – Kits and Assays, Platforms, Software Tools
- Application- Human Health, Molecular Forensics, Blockchain in Genomics
- Methods- Whole Genome Sequencing, Whole Exome Sequencing, Single-Read Sequencing, and Other Sequencing Methods
- Technology- Next-Generation Sequencing, Polymerase Chain Reaction and Other Technologies
- Rising Adoption of Large-Scale Sequencing to Understand the Genomics of Susceptibility and Resistance from COVID-19
- Increasing Adoption of Personalized Medicine for the Screening and Diagnostics of Genetic Disorders
- Global Surge in Direct-to-Consumer (DTC) Genetic Testing
- Lack of Infrastructure to Maintain, Store and Share Sensitive Genomic Data
- Absence of Sufficient Funding for Development of High-Throughput Genomic Software Tools
- Poor Reducibility and Translatability of Data in Clinical Practice
- Advancing Precision Medicine with Blockchain-Powered Artificial Intelligence
- Technological Advancements in Sample Preparation for Population Sequencing
- Increased Population Engagement and Data Management
Key Companies Profiled
Thermo Fisher Scientific, Illumina Inc., Pacific Biosciences of California, Inc., Qiagen N.V., Oxford Nanopore Technologies, Inc., and Agilent Technologies, Inc., Genuity Science, F. Hoffman La-Roche Ltd., Nebula Genomics, Inc., Helix Opco, LLC, Beijing Genomics Institute, and Agilent Technologies, Inc.
Key Questions Answered in this Report:
- What are the major market drivers, challenges, and opportunities in the global population sequencing market?
- What is the potential impact of sequencing and biotechnological advancement in the application of genomic medicine and translational research?
- What is the current market expense along with future expected expenses in population sequencing initiatives?
- How population sequencing helped genomic tests to become a prominent tool for diagnostics in various clinical applications?
- What are the key development strategies which are implemented by the major players in order to sustain in the competitive market?
- How is each segment of the market expected to grow during the forecast period from 2020 to 2030 based on:
- product type
- Who are the leading players with significant offerings to the global population sequencing market? What is the expected market dominance for each of these leading players?
- Which emerging companies are anticipated to be highly disruptive in the future, and what are their key strategies for sustainable growth in the population sequencing industry?
As per BIS Research analysis, the population sequencing market is projected to reach $64,047.6 million by 2030 from $21,730.4 million in 2020, at a CAGR of 11.41% during the forecast period, 2020-2030. Growth in this market is expected to be driven by the rising adoption of large-scale sequencing to understand the genomics of susceptibility and resistance from COVID-19, increasing adoption of personalized medicine for the screening and diagnosis of genetic disorders, and a global surge in direct-to-consumer genetic testing. However, there are significant challenges that are restraining the market growth, such as lack of infrastructure to maintain, store, and share sensitive genomic data, absence of sufficient funding for the development of high-throughput genomic software tools, and poor reducibility and transability of data in clinical practice.
The market is favored by the technological advancements in the sequencing, and computational analysis solutions for large volume of genetic data enabling deep understanding of the genetic variants for the development of diagnostics, drug discovery, and translational research.
Furthermore, several sequencing companies are focusing on the development of high-throughput sequence platforms and polymerase chain reaction platforms, with higher sensitivity and low turn-around time to benefit the patients, enabling patient-based outcomes and implementing genomic medicine.
Within the research report, the market is segmented on the basis of product type, application, methods, and technology. Each of these segments covers the snapshot of the market over the projected years, the inclination of the market revenue, underlying patterns, and trends by using analytics on the primary and secondary data obtained.
The exponential rise in the application of precision medicine on the global level has created a buzz among companies to invest in the development of rapid diagnostics providing information on genetic mutation and optimal candidates for adjuvant chemotherapy or hormonal therapy. Due to the diverse product portfolio and intense market penetration, Illumina, Inc. has been a pioneer in this field and has been a significant competitor in this market.
The population sequencing market provided immense growth opportunities for the companies providing technology and infrastructure for large-scale health initiatives, such as Color Genomics, Inc., Helix Opco, LLC, and big data companies such as Genuity Science
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