Wellesley, MA – According to a new technical market research report from BCC Research titled “DNA Sequencing: Emerging technologies and Applications,” the global market for DNA sequencing technology was worth $794.0 million in 2007 and an estimated $862.5 million in 2008. This should increase to $1.7 billion by 2013, a compound annual growth rate (CAGR) of 14.7%.
The market is broken down into the segments of research/drug discovery and development, commercial applications and emerging applications.
Research/drug discovery and development has the largest share of the market, generating $600.4 million in 2007. This is expected to increase to $640.6 million in 2008 and over $1.0 billion in 2013, for a CAGR of 9.7%.
Commercial applications have the next largest share of the market, worth $193.6 million in 2007 and an estimated $218.8 million in 2008. This should increase at a CAGR of 14.3% to reach $426.1 million in 2013.
Emerging applications have the smallest but fastest growing share of the market. This sector is expected to generate $3.1 million by the end of 2008 and $272.5 million in 2013, for a CAGR of 144.8%. DNA sequencing allows us to catalogue the variations within the human genome sequence that make us phenotypically different, and that cause resistance and susceptibility to disease.
The rapidly evolving sequencing technologies provide unprecedented analytical tools that allow us to identify this sequence variation, in humans as well as in other species. Technology and market forces are working a fundamental shift in the DNA sequencing industry away from stagnant/declining growth towards high growth.
This growth inflection signals the arrival of DNA sequencing as a premier genetic analysis tool: useful for existing applications such as de novo whole genome sequencing and entirely new applications like epigenetic tag sequencing.¹