DNA sequencing market eyes increase by over 20% CAGR in 2028

The market is expected to grow by $17.34b amidst the emergence of third-generation sequencing technology.

The global market for DNA sequencing is anticipated to grow by $17.34b by 2028 at a compound annual growth rate of over 20%, according to a Technavio report.

The report revealed that the market is experiencing a notable growth due to the emergence of third-generation sequencing technology.

“This advanced method reads DNA at the single-molecule level, eliminating the need for clonal amplification and preparative steps,” the report said.

Meanwhile, the rising adoption of next-generation sequencing techniques has also driven market expansion.

“The use of next-generation sequencing techniques has made DNA sequencing faster and more cost-effective,” the report added.

Overall, the market is driven by the rising need for early disease detection and new drug development, whilst expecting continuous growth amidst ongoing efforts on research and development.