(Companies: Illumina, Inc., Thermo Fisher Scientific, Inc., Eurofins Scientific SE, Myriad Genetics, Inc. And QIAGEN N.V.)
The sequencing market consists of sales of sequencing instruments, consumables, software and services by entities (organizations, sole traders and partnerships) that produce sequencing instruments, consumables, software and services to companies which investigate and sequence DNA (deoxyribonucleic acid) or RNA (ribonucleic acid) samples of human, animal, plant and microbial species. Sequencing instruments are devices for carrying out DNA or RNA sequencing. Consumables include reagents and kits performing the sequencing of DNA or RNA samples. The services provided by sequencing companies include performing sequencing of DNA or RNA samples for customers and providing software or cloud-based services.
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Sequencing Market Size
The global sequencing market size is expected to grow at a growth rate of about 6% by 2022. The rapid growth of the sequencing market in both periods is due to rising funding by public and private agencies for research and development projects relating to chronic diseases, and rising demand for sequencing lab services for the diagnosis of immunological and neurological disorders. The market is challenged by restraints such as the high initial investment required to acquire the instruments and legal and ethical issues associated with sequencing.
The market for sequencing is concentrated with a few large players dominating the market. Players in the market include Illumina, Inc., Thermo Fisher Scientific, Inc., Eurofins Scientific SE, Myriad Genetics, Inc. and QIAGEN N.V.
Illumina, Inc. was the largest competitor in the sequencing market in 2017, with nearly 33% share of the market. Illumina manufactures and markets sequencing and array platforms and reagent kits. The company was incorporated in 1998 and is headquartered in San Diego, California, United States.
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High Initial Investment and Data Storage Costs for End Users – The sequencing market was limited by the high initial costs of instruments during the historic period (which remained high although they fell). For example, Illumina’s HiSeq X10 sequencing equipment which is capable of conducting sequencing process at a low cost of around $1,000 per genome, requires an initial investment of $10 million. 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. These factors limited the demand for sequencing instruments and restrained the market during the historic period.
Sequencing Market Segmentation
The sequencing market is segmented by type, by products and services, and by geography.
By Type – The sequencing market is segmented by type into
- a) Next Generation Sequencing
- b) Third Generation Sequencing
- c) Sanger Sequencing
- d) Global Sequencing
Third generation sequencing had the highest growth rate of nearly 15.5% during the historic period. This rapid growth can be attributed to due to portability and the faster sequencing speed it offers than NGS and Sanger sequencing.
By Products And Services – The sequencing market is segmented by products and services into
- a) Consumables
- b) Sequencing Services
- c) Instruments and Software
- d) Global Sequencing
Growth has accelerated in all the segments of the global sequencing market by products and services.
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