Target Sequencing and Resequencing Market Overview
As per MRFR analysis, the Target Sequencing and Resequencing Market Size was estimated at 29.0 (USD Billion) in 2022.
The Target Sequencing and Resequencing Industry is expected to grow from 32.82 (USD Billion) in 2023 to 100.0 (USD Billion) by 2032. The Target Sequencing and Resequencing Market CAGR (growth rate) is expected to be around 13.18% during the forecast period (2024 - 2032).
Key Target Sequencing and Resequencing Market Trends Highlighted
Target Sequencing and Resequencing are experiencing advancements in technology, such as benchtop sequencers, nanopore technology, and single-cell sequencing. These breakthroughs enable researchers to sequence larger genomes and study complex genetic variations with higher accuracy and throughput.
The rise of precision medicine and personalized healthcare is driving demand for target sequencing to identify genetic predispositions, diagnose diseases, and guide treatment strategies.
Additionally, the increasing adoption of next-generation sequencing (NGS) platforms, coupled with decreasing sequencing costs, is facilitating the widespread use of Target Sequencing and Resequencing.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Target Sequencing and Resequencing Market Drivers
Advancements in Sequencing Technologies Drive Market Growth
It is true that the Target Sequencing and Resequencing Market Industry is on a growth path. This growth is attributed to advancements in sequencing technologies.
As noted by Technological Networks, Next-generation sequencing and whole-genome sequencing have been one of the developed areas in the fields of genomics. Researchers and clinicians can now determine genetic variations and mutations responsible for or associated with certain diseases.
For instance, the NGS technology which uses Illumina's MiSeq and HiSeq systems and PacBio’s SMRT sequencing technology has led to an increase in sequencing throughput and a decrease in the cost of sequencing technologies.
The reduction in sequencing has made Target Sequencing and Resequencing more common. Moreover, the decline has shown advancement in precision diagnostics and personalized medicine.
Growing Prevalence of Genetic Disorders and Diseases
The increasing prevalence of genetic disorders and diseases worldwide is another major factor driving the growth of the Target Sequencing and Resequencing Market Industry. Genetic disorders are caused by mutations or variations in genes, and they can range from rare conditions to common diseases such as cancer and heart disease.
The rising incidence of these disorders has led to an increased demand for genetic testing, including Target Sequencing and Resequencing, to identify the underlying genetic causes and develop appropriate treatment strategies.
This has created a significant opportunity for the growth of the Target Sequencing and Resequencing Market Industry.
Government Initiatives and Funding Support Research and Development
Government initiatives and funding play a crucial role in supporting research and development in the Target Sequencing and Resequencing Market Industry. Governments worldwide recognize the importance of genomics in improving healthcare outcomes and reducing the burden of genetic diseases.
They provide funding for research projects, establish research centers, and implement policies that encourage collaboration between academia and industry.
This support fosters innovation and enables researchers to develop new and improved Target Sequencing and Resequencing technologies, which ultimately contribute to the growth of the Target Sequencing and Resequencing Market Industry.
Target Sequencing and Resequencing Market Segment Insights
Target Sequencing and Resequencing Market Target Sequencing Type Insights
Type Based Segmentation The Target Sequencing and Resequencing market is segmented based on the target sequencing type into whole genome sequencing, exome sequencing, targeted panel sequencing, and single-gene sequencing. Among these, whole genome sequencing held the largest market share in 2023, accounting for over 40% of the global revenue.
This is due to the ability of the whole genome sequencing process to provide a comprehensive analysis of the entire genome, including both coding and non-coding regions. As such, this type of target sequencing is majorly used in various research studies and clinical diagnostics for identifying and elucidating genetic variants that contribute to complex diseases and disorders.
Exome sequencing is another significant segment of the market, which accounted for around 30% of the market share in 2023 due to lesser expense and time consuming in comparison to the whole genome sequencing process. Exome sequencing captures the exonic component through target enrichment, which exclusively targets the sequencing of only the protein-coding regions of the genome.
As a result, exome sequencing is majorly employed to identify disease-causing genetic variants associated with Mendelian disorders and certain types of cancer, thus acting as an attractive option for clinical studies.
Another type of target sequencing, titled targeted panel sequencing, is relatively lower on the adoption pedal. This approach sequences only the selected set of genes that are known to be associated with the target disease.
For this reason, it is highly targeted and cost-effective, making it specifically ideal in clinical diagnostics, pharmacogenomics, and personalized medicine. Lastly, single-gene sequencing is the most specific, as well as cost-effective, approach where only one gene is targeted for sequencing.
This is commonly done to identify mutations associated with specific inherited disorders, including cystic fibrosis and sickle cell anemia.
Projected growth The prime driving factors of the Target Sequencing and Resequencing market include expanding adoption of personalized medicine approaches, technological advancements, and rising incidences of genetic disorders.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Target Sequencing and Resequencing Market Technology Insights
The Target Sequencing and Resequencing market is expected to witness significant growth in the coming years, driven by the increasing demand for personalized medicine and the growing adoption of next-generation sequencing (NGS) technologies.
NGS is a high-throughput sequencing technology that allows for the rapid and cost-effective sequencing of large amounts of DNA or RNA. It has revolutionized the field of genomics and has enabled a wide range of applications, including Target Sequencing and Resequencing. Target sequencing is a technique used to sequence specific regions of the genome, such as genes or exomes.
It is commonly used for the identification of genetic variants associated with diseases and for the development of personalized treatment plans. Resequencing is a technique used to sequence the entire genome of an individual, and it is often used for research purposes to identify genetic variants that may be associated with complex diseases.
The Target Sequencing and Resequencing market is segmented based on technology, application, and end-user. In terms of technology, the market is segmented into NGS, single-molecule real-time (SMRT) sequencing, Ion Torrent sequencing, and nanopore sequencing.
NGS is the most widely used technology for Target Sequencing and Resequencing, and it is expected to continue to dominate the market in the coming years. SMRT sequencing is a newer technology that offers longer read lengths than NGS, and it is expected to gain market share in the coming years.
Ion Torrent sequencing and nanopore sequencing are other emerging technologies that are expected to contribute to the growth of the Target Sequencing and Resequencing market.
Target Sequencing and Resequencing Market Application Insights
The application segment plays a crucial role in driving the growth of the Target Sequencing and Resequencing Market. Diagnostic testing accounted for the largest market share in 2023, and it is projected to maintain its dominance throughout the forecast period.
The increasing prevalence of genetic disorders and the need for accurate and timely diagnosis are major factors contributing to the growth of this segment. Pharmaceutical development is another significant application segment, with a growing demand for Target Sequencing and Resequencing in drug discovery and personalized medicine.
The agricultural research segment is also witnessing significant growth due to its applications in crop improvement and livestock breeding. Forensic science and personalized medicine are other key application segments that are expected to contribute to the overall growth of the Target Sequencing and Resequencing Market in the coming years.
Target Sequencing and Resequencing Market Regional Insights
The regional segmentation of the Target Sequencing and Resequencing Market showcases diverse market dynamics and growth patterns. North America holds a significant market share, driven by advanced healthcare infrastructure, extensive research and development activities, and a high prevalence of genetic disorders.
Europe follows closely, with a robust healthcare system, government initiatives supporting genomics research, and a growing demand for personalized medicine. The Asia-Pacific (APAC) region is expected to witness substantial growth, fueled by rising healthcare expenditure, increasing awareness of genetic testing, and government investments in healthcare infrastructure.
South America and the Middle East and Africa (MEA) regions present growth opportunities due to the increasing adoption of advanced technologies and the rising prevalence of genetic diseases. These regional insights are crucial for businesses operating in the Target Sequencing and Resequencing Market, enabling them to tailor their strategies and capitalize on growth opportunities.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Target Sequencing and Resequencing Market Key Players and Competitive Insights:
Major market players in the Target Sequencing and Resequencing Market industry constantly strive to gain a competitive advantage by developing new products and technologies.
Moreover, leading players of the Target Sequencing and Resequencing Market pursue diversification of their zones of operation and development of mutually beneficial partnerships with other companies. The Target Sequencing and Resequencing Market industry is expected to develop in the future due to the rising demand for personalized medicine and the appearance of new targeted medications.
The Target Sequencing and Resequencing Market will remain a highly competitive market segment, where several big players will compete for their market share.
Illumina is the leading provider of sequencing and array-based solutions for genetic analysis. The product range and services of the company are extensive and include the development of the NextSeq series of sequencers, including the NextSeq 550 and the NextSeq 500 series.
Besides, the company has developed the TruSeq library preparation kits and has therefore accumulated a large global customer base, as its clients are academic institutions, pharmaceutical companies, and clinical laboratories.
Agilent Technologies is the company specializing in the development and manufacturing of instruments, software, and consumables for life sciences research and analysis.
The Target Sequencing and Resequencing service and product line of the Agilent Technologies is also extensive and includes the development of the SureSelectXT target enrichment system and the Agilent NGS Workstation data analysis software.
Agilent Technologies has a high image of a reliable company with reputably manufactured high-quality products and instruments, as a high number of researchers from the academic world, industry, and government use the Agilent products in their work.
Key Companies in the Target Sequencing and Resequencing Market Include:
- Danaher Corporation
- Oxford Nanopore Technologies Ltd.
- Eurofins Scientific
- Neogen Corporation
- Thermo Fisher Scientific
- PerkinElmer, Inc.
- BioRad Laboratories, Inc.
- Novogene Co., Ltd.
- Agilent Technologies, Inc.
- QIAGEN N.V.
- MGI Tech Co., Ltd.
- Pacific Biosciences of California, Inc.
- Roche Holding AG
- Illumina, Inc.
Target Sequencing and Resequencing Industry Developments
The market growth is attributed to the increasing adoption of next-generation sequencing (NGS) technologies, the rising prevalence of chronic diseases, and the growing demand for personalized medicine. Key players in the market include Illumina, Inc., Pacific Biosciences of California, Inc., Thermo Fisher Scientific, Inc., and BGI Genomics Co., Ltd.
Recent developments in the market include the launch of new products and services, such as Illumina's NovaSeq X Plus system and Pacific Biosciences' Sequel IIe system. These systems offer improved accuracy, speed, and throughput, which is expected to further drive market growth. Additionally, collaborations between market players and research institutions are expected to accelerate the development of new applications for Target Sequencing and Resequencing, thereby expanding the market's scope.
Target Sequencing and Resequencing Market Segmentation Insights
Target Sequencing and Resequencing Market Target Sequencing Type Outlook
- Whole Genome Sequencing
- Exome Sequencing
- Targeted Panel Sequencing
- Single-Gene Sequencing
Target Sequencing and Resequencing Market Technology Outlook
- Next-Generation Sequencing (NGS)
- Single-Molecule Real-Time (SMRT) Sequencing
- Ion Torrent Sequencing
- Nanopore Sequencing
Target Sequencing and Resequencing Market Application Outlook
- Diagnostic Testing
- Pharmaceutical Development
- Agricultural Research
- Forensic Science
- Personalized Medicine
Target Sequencing and Resequencing Market Regional Outlook
- North America
- Europe
- South America
- Asia Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
29.0(USD Billion) |
| Market Size 2023 |
32.82(USD Billion) |
| Market Size 2032 |
100.0(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
13.18% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Danaher Corporation, Oxford Nanopore Technologies Ltd., Eurofins Scientific, Neogen Corporation, Thermo Fisher Scientific, PerkinElmer, Inc., BioRad Laboratories, Inc., Novogene Co., Ltd., Agilent Technologies, Inc., QIAGEN N.V., MGI Tech Co., Ltd., Pacific Biosciences of California, Inc., Roche Holding AG, Illumina, Inc. |
| Segments Covered |
Target Sequencing Type, Technology, Application, Regional |
| Key Market Opportunities |
1 Growing adoption of precision medicine 2 Increasing demands for personalized healthcare 3 Technological advancements in sequencing technologies 4 Rising prevalence of chronic diseases 5 Expansion into emerging markets |
| Key Market Dynamics |
Increasing research Clinical applications Personalized medicine Technological advancements Growing prevalence of genetic disorders |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Target Sequencing and Resequencing Market reached a valuation of 32.82 billion USD in 2023.
The CAGR of the Target Sequencing and Resequencing Market from 2024 to 2032 is estimated to be 13.18%.
The Target Sequencing and Resequencing Market is expected to reach a valuation of 100.0 billion USD in 2032.
North America is expected to hold the largest market share in the Target Sequencing and Resequencing Market during the forecast period.
Target Sequencing and Resequencing find applications in oncology, genetic diseases, infectious diseases, and agriculture.
Key competitors in the Target Sequencing and Resequencing Market include Illumina, Inc., Thermo Fisher Scientific, Inc., Pacific Biosciences of California, Inc., and Agilent Technologies, Inc.
Factors driving the growth of the Target Sequencing and Resequencing Market include the increasing prevalence of chronic diseases, technological advancements, and rising demand for personalized medicine.
Challenges faced by the Target Sequencing and Resequencing Market include high cost of sequencing, data interpretation, and ethical concerns.
Opportunities for the Target Sequencing and Resequencing Market include advancements in sequencing technologies, increasing adoption of precision medicine, and growing demand for genetic testing.
Key trends in the Target Sequencing and Resequencing Market include miniaturization of sequencing devices, integration of AI, and development of new sequencing methods.
