As per the current market research conducted by the CMI Team, the global Targeted Sequencing and Resequencing Market size is expected to record a CAGR of 23.1% from 2023 to 2032. In 2023, the market size is projected to reach a valuation of USD 6.2 Billion. By 2032, the valuation is anticipated to reach USD 91.1 Billlion.
Targeted Sequencing And Resequencing Market: Growth Factors and Dynamics
- Genomic Advancements: Ongoing progress in genomics research is propelling the demand for targeted sequencing and resequencing technologies. These tools allow scientists to delve deep into specific DNA regions, facilitating a more comprehensive understanding of genetic variations and their relevance in diverse fields.
- Clinical Diagnostics Adoption: The substantial uptake of targeted sequencing in clinical diagnostics is a pivotal growth factor. This technique empowers the identification of genetic mutations linked to diseases, enabling tailored medical approaches, early disease identification, and improved treatment choices.
- Agricultural Enhancement: In the realm of agriculture, targeted sequencing plays a crucial role in improving crops by pinpointing genes responsible for advantageous traits. This technology aids breeders in cultivating crops with heightened yield, disease resistance, and adaptability to various environmental conditions.
- Pharmaceutical Research Utilization: The pharmaceutical sector relies on targeted sequencing for drug discovery and development. Researchers employ this method to pinpoint potential drug targets, fathom the genetic underpinnings of diseases, and optimize clinical trial designs.
- Diminishing Sequencing Costs: The continuous reduction in the cost of DNA sequencing is enhancing the accessibility of targeted sequencing and resequencing. Technological innovations, economies of scale, and the competitive landscape among sequencing service providers are driving down the per-base pair costs.
- Demand Surge for Personalized Medicine: The shifting paradigm towards personalized medicine, where treatments are individually tailored based on genetic makeup, is amplifying the requirement for targeted sequencing. Patients and healthcare providers are increasingly seeking genetic information to make more informed medical decisions.
- Data Analysis and Interpretation: The market is witnessing growth in the domain of bioinformatics and data analysis. The vast volume of data generated by sequencing necessitates advanced tools for interpretation and integration with clinical and biological knowledge.
- Regulatory Framework and Standards: Regulatory bodies are introducing guidelines and standards for the generation and interpretation of genomic data in healthcare. This regulatory support bolsters confidence in the application of targeted sequencing in clinical settings.
- Collaboration and Alliances: Collaborations between academic institutions, healthcare providers, biotechnology firms, and sequencing technology manufacturers are fostering innovation and steering market expansion. These alliances are instrumental in developing novel applications and solutions, and knowledge sharing and resource pooling are catalyzing genomics research.
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Targeted Sequencing And Resequencing Market: Partnership and Acquisitions
- In March 2021, Illumina and Geneseeq joined hands to collaborate on the development and marketing of In Vitro Diagnostic (IVD) Next-Generation Sequencing (NGS) kits, tailor-made for cancer treatment in the Chinese market. These innovative kits were designed using Illumina’s approved NextSeq 550Dx sequencing platform, which had gained the green light from China’s National Medical Products Administration (NMPA), addressing crucial needs in the realm of cancer diagnostics and therapy.
- In 2021, a strategic partnership took shape between the Genomic Testing Cooperative (GTC) and Hackensack Meridian Health in the United States. This collaboration resulted in the establishment of Anthology Diagnostics, a cutting-edge laboratory specializing in RNA and DNA sequencing, with a primary focus on oncology. Anthology Diagnostics employs advanced technology to conduct NGS, utilizing DNA/RNA sourced from tumour samples and cell-free DNA from liquid biopsy specimens, thereby propelling cancer research and diagnostics in the U.S. healthcare landscape.
Targeted Sequencing And Resequencing Market: COVID-19 Analysis
The COVID-19 pandemic has significantly impacted the Targeted Sequencing and Resequencing Market, leading to both challenges and opportunities:
- Disruption in Supply Chains: Lockdowns and restrictions disrupted the supply chain of critical reagents and sequencing equipment, causing delays in research and diagnostics.
- Shift in Research Focus: Many research institutions and biotech companies diverted their resources and expertise towards COVID-19 research, slowing down progress in other genomic studies.
- Economic Downturn: Budget constraints in healthcare systems and research institutions limited investments in sequencing technologies.
- Clinical Trial Delays: Clinical trials involving genomic analysis were delayed or postponed, affecting drug development and personalized medicine initiatives.
- Genomic Surveillance: Targeted sequencing played a crucial role in tracking the genomic evolution of the SARS-CoV-2 virus, aiding in the development of vaccines and treatment strategies.
- Increased Adoption: The pandemic underscored the importance of genomics in public health, leading to increased investments and adoption in the field.
- Remote Genomic Consultations: Telemedicine and remote genetic consultations gained traction, allowing patients to access genetic testing and counselling while minimizing physical contact.
- Emergency Use Authorizations: Regulatory agencies expedited approvals for COVID-19 diagnostic tests and sequencing platforms, paving the way for faster technology adoption.
List of the prominent players in the Targeted Sequencing and Resequencing Market:
- Illumina Inc.
- Agilent Technologies
- Thermo Fisher Scientific Inc.
- Hoffmann-La Roche Ltd
- DNASTAR Inc.
- Bio-Rad Laboratories Inc.
- PacBio
- Integrated DNA Technologies Inc.
- RainDance Technologies Inc.
- Perkin Elmer Inc.
- BGI
- PierianDx
- Genomatix GmbH
- GATC Biotech Ag
- Macrogen Inc.
- QIAGEN
- Oxford Nanopore Technologies
- SRS Pharmacy Systems
- Others
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