Number of pages: 100 | Report Format: PDF | Published date: June 26, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
According to the deep-dive market assessment study by Growth Plus Reports, the global target sequencing and resequencing market was valued at US$ 5.47 billion in 2022 and is expected to register a revenue CAGR of 22.93% to reach US$ 35.07 billion by 2031.
Target Sequencing and Resequencing Market Fundamentals
Target sequencing and resequencing are two techniques commonly used in genomics to analyze and compare DNA sequences. Both approaches involve determining the nucleotide sequence of a specific region or multiple regions of interest in the genome, but their objectives and methodologies differ. Target Enrichment is a pre-sequencing stage in which target DNA sequences are either amplified (using amplicon or multiplex PCR-based methods) or captured (using hybrid capture-based methods), and then sequenced using DNA sequencers.
Target Sequencing and Resequencing Market Dynamics
The continuous evolution and improvement of next-generation sequencing (NGS) technologies have revolutionized the field of genomics. These technologies, such as Illumina's sequencing platforms, have become more efficient, cost-effective, and capable of generating massive amounts of sequencing data. Advancements in sequencing technologies have contributed to the increased adoption of target sequencing and resequencing approaches. For instance, in September 2022, Predicine, Inc. received approval from U.S. FDA for PredicineCARETM cfDNA Assay, an NGS assay for tumor mutation profiling. Growing demand for precision medicine has also fueled the need for targeted sequencing and resequencing technologies. There has been a significant increase in research focused on understanding the genetic basis of diseases and complex traits. The expanding field of disease genomics has contributed to the demand for these sequencing approaches. Cancer genomics has emerged as a critical area of study, aiming to identify genetic alterations driving tumor development and progression. For instance, Illumina and Geneseeq partnered in March 2021 to create and market IVD NGS kits for cancer treatment in China. Thus, using Illumina's NextSeq 550Dx sequencing equipment, which was approved by China's NMPA, this innovative kit was created (National Medical Products Administration). In oncology research, targeted sequencing is extensively used to analyze specific cancer-associated genes or gene panels.
Additionally, resequencing helps in studying the genomic landscape of different types of cancers, identifying somatic mutations, and exploring potential therapeutic targets. The popularity of direct-to-consumer genetic testing services has surged in recent years. These services often utilize target sequencing or resequencing approaches to provide consumers with personalized genetic information about ancestry, traits, and health predispositions. The increasing demand for direct-to-consumer genetic testing has positively influenced the target sequencing and resequencing market.
However, the target sequencing and resequencing generate vast amounts of sequencing data that require efficient data management and robust analysis pipelines. The storage, processing, and interpretation of big genomic data can be challenging, requiring expertise in bioinformatics and computational resources. The complexity of data analysis can be a barrier for researchers and clinicians with limited bioinformatics capabilities. Identifying and interpreting the functional significance of genetic variants obtained through target sequencing and resequencing can be complex. Maintaining high-quality standards throughout the targeted sequencing and resequencing process is crucial. Variability in sample preparation, library construction, sequencing platforms, and bioinformatics pipelines can introduce biases, errors, or inconsistencies in the results. Standardizing protocols and ensuring quality control measures are in place are essential but can be challenging, especially in multi-site or multi-platform studies. In target sequencing, the design and coverage of the targeted regions can impact the accuracy and completeness of the analysis. Variability in capture efficiency, off-target effects, and limitations in target selection can affect the sensitivity and specificity of the results. Designing comprehensive and efficient target panels that capture the desired regions accurately remains a challenge, particularly for highly complex genomes or regions with high genetic diversity. The use of target sequencing and resequencing technologies raises ethical and legal concerns related to data privacy, informed consent, and potential misuse of genetic information.
Target Sequencing and Resequencing Market Ecosystem
The global target sequencing and resequencing market is analyzed from the following perspectives: type, material type, application, end user, and region.
Target Sequencing and Resequencing Market by Technology
Based on the technology, the target sequencing and resequencing market is segmented into re-sequencing and sequencing
The sequencing segment dominates the global market with more than 72.03% of the market share. The rapid advancements in sequencing technologies, particularly next-generation sequencing (NGS), have revolutionized the field of genomics. NGS platforms, such as those offered by Illumina, Thermo Fisher Scientific, and Oxford Nanopore Technologies, have enabled high-throughput sequencing with improved accuracy, speed, and cost-effectiveness. These technologies have become the backbone of target sequencing and resequencing, driving the dominance of the sequencing segment in the market. Sequencing plays a pivotal role in various applications within the field of genomics. It is used for targeted gene sequencing, exome sequencing (capturing protein-coding regions), whole-genome sequencing (analyzing the entire genome), and other specialized applications like RNA sequencing and epigenetic profiling. The versatility of sequencing technologies and their applicability across multiple research areas and clinical settings contribute to the dominance of the sequencing segment. Sequencing allows for a comprehensive analysis of the genetic information present in the target regions or the entire genome. It provides valuable insights into genetic variations, mutations, structural variants, and gene expression patterns. This comprehensive genomic analysis is crucial for understanding disease mechanisms, identifying therapeutic targets, and supporting precision medicine initiatives. Sequencing platforms are widely available, and an extensive network of service providers, sequencing centers, and bioinformatics companies offer expertise and support for sequencing projects. This infrastructure facilitates the adoption and utilization of sequencing technologies, consolidating their dominance in the market.
Target Sequencing and Resequencing Market by Type
Based on the type, the global market is segmented into RNA and DNA.
The DNA-based segment accounts for the largest revenue share in the global market. DNA-based sequencing and resequencing techniques enable the analysis and interpretation of genomic variations, mutations, and structural rearrangements that underlie phenotypic traits and disease conditions. DNA-based sequencing and resequencing techniques have a long history of development and refinement. Sanger sequencing, a widely used DNA sequencing method, laid the foundation for modern sequencing technologies. DNA-based sequencing provides comprehensive and detailed information about an organism's genome. It enables the identification of single nucleotide variations (SNVs), insertions and deletions (indels), copy number variations (CNVs), chromosomal rearrangements, and other genetic alterations. The high information content of DNA-based sequencing allows researchers and clinicians to gain a deeper understanding of genetic variations associated with diseases, traits, and drug responses. DNA-based sequencing platforms and methodologies are versatile and can be tailored to address specific research questions or clinical needs. This versatility and broad applicability contribute to the dominant position of the DNA-based segment in the market.
Target Sequencing and Resequencing Market by Application
Based on the application, the global target sequencing and resequencing market is segmented into drug development, clinical application, plant & animal sciences, and others.
The clinical application segment dominates the global market with the largest revenue share. The integration of sequencing technologies into clinical workflows has fueled the dominance of the clinical application segment. Target sequencing and resequencing have wide-ranging applications in clinical diagnostics. These techniques are used for identifying disease-causing genetic variations, detecting hereditary conditions, assessing disease risk, and predicting treatment response. In areas such as oncology, target sequencing enables the identification of actionable mutations and the selection of targeted therapies. The diagnostic and prognostic capabilities of target sequencing and resequencing make them integral to clinical decision-making processes. The clinical application segment dominates due to the critical role of target sequencing and resequencing in pharmacogenomic applications. Genomic information is being increasingly integrated into routine healthcare practices. With the advancements in sequencing technologies and bioinformatics, the turnaround time for obtaining and interpreting genomic data has improved, making it more feasible for clinical applications. The integration of genomics into routine clinical practice has boosted the dominance of the clinical application segment in the target sequencing and resequencing market.
Target Sequencing and Resequencing Market by End User
Based on the end user, the global target sequencing and resequencing market is segmented into academic research, hospitals& clinics, and others.
Academic research accounts for the largest revenue share of 50.2% in the global market. Academic research institutions play a vital role in driving scientific advancements and innovation. Many breakthroughs in genomics and sequencing technologies originate from academic research laboratories. Researchers in academia have the flexibility to explore novel applications, develop cutting-edge methodologies, and push the boundaries of target sequencing and resequencing. Their ability to engage in pioneering research positions them at the forefront of the market. Academic research fosters collaboration and knowledge exchange among researchers and institutions. The trained workforce produced by academic institutions contributes to the dominance of the academic research segment in the market. Academic research often involves the study of diverse biological samples, including human samples, model organisms, and environmental samples.
Target Sequencing and Resequencing Market by Region
Geographically, the global target sequencing and resequencing market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America has a well-established infrastructure for genomics research and healthcare. The region houses leading academic institutions, research centers, and biotechnology companies that have invested significantly in sequencing technologies and related infrastructure. The presence of state-of-the-art sequencing facilities, advanced bioinformatics capabilities, and extensive research networks gives North America a competitive edge in the market. North America has a robust research and development ecosystem, with substantial investments in genomics and sequencing research. North America has a well-developed healthcare system that emphasizes technological innovation and precision medicine. Target sequencing and resequencing technologies are increasingly integrated into clinical workflows in the region, allowing for better disease diagnosis, treatment selection, and patient management. Many leading sequencing technology providers and biotechnology companies are headquartered in North America. These companies, such as Illumina, Thermo Fisher Scientific, and Pacific Biosciences, have pioneered sequencing platforms and technologies, driving advancements in the field. Their strong presence and market leadership contribute to the dominance of the North America region.
Target Sequencing and Resequencing Market Competitive Landscape
The prominent players operating in the global target sequencing and resequencing market are: -
Target Sequencing and Resequencing Market Strategic Developments
Target sequencing and resequencing are two techniques commonly used in genomics to analyze and compare DNA sequences.
The revenue CAGR for the target sequencing and resequencing market is 22.93% during the forecast period.
BGI, Illumina Inc., and Perkin Elmer Inc. are a few of the major players in the target sequencing and resequencing market.
Asia Pacific is the region with the highest growth rate in the global target sequencing and resequencing market.
Rising focus on genetic research and disease genomics, high applications in oncology research, and rising availability of genomic databases and resources are some of the market drivers.
*Insights on financial performance are subject to the availability of information in the public domain