Genomic Research and Development of Personalized Medicines Will Drive the Global Sequencing Market to $18.2 Billion by 2023
LONDON, Aug. 2, 2019 /PRNewswire/ -- The global sequencing market, valued at $7.9 billion in 2018, will grow at an annual rate of around 18% to 2023 and reach $18.2 billion. Sequencing companies are using innovative technologies and methods for DNA or RNA sequencing. This has increased genomic research and development of personalized medicines. Genomics is the study of genetic material of organisms to determine the entire sequence of DNA that helps to identify changes or variants in genes. Personalized medicine is the medical treatment specific to individual characteristics of the patient. Advances in sequencing technologies help to store and manage large amounts of data efficiently and deliver faster results. Technological advances such as next generation sequencing have enhanced DNA sequencing and driven research on various diseases.
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Rise In Genomic Research
Increasing investment in genomic research is expected to drive the sequencing market during the forecast period. Genomics involves the study of structure, function and other parameters of genetic material. It aids in identification of genomic variations associated with diseases. In 2018, the UK Biobank announced a major initiative to sequence the genomes of 50,000 UK Biobank volunteer participants. This increase in the use of sequencing techniques for a wider range of research and treatment purposes is likely to drive the market going forward.
Need For Personalized Medicines
The rapid growth in the demand for personalized treatment and medicine will also drive the sequencing market during the forecast period. (Personalized medicines are treatments based on individual characteristics and specific needs.) For instance, in October 2018, the UK launched an NHS (National Health Service) genomic medicine service with plans to sequence five million genomes by 2023. This project included access to genomic testing services for developing personalized medication for rare diseases and cancers. Such initiatives for development of personalized treatment and medication by using sequencing techniques are likely to drive the global sequencing market going forward.
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Increasing Use Of Semiconductor Sequencing
Companies are using semiconductor sequencing for enhancing DNA sequencing. Semiconductor sequencing is a type of next-generation sequencing that enables reading DNA sequences electronically. For example, in 2014 DNA Electronics Ltd (DNAe) commercialized its semiconductor DNA sequencing technology consisting of semiconductor chips for the diagnosis of infectious diseases. Ion Torrent's semiconductor sequencing technology allows the sequencing of templates of a length of up to 200 to 400 base pairs that directly translate chemically encoded information into voltage signals that are detected by a semiconductor device, thus offering a high throughput.
Innovations In The Sequencing Market
In October 2018, Singapore-based Proteona, a biopharmaceutical company, entered into an exclusive worldwide licensing agreement with the National University of Singapore (NUS) for Enhanced Single Cell Analysis with the Protein Expression (ESCAPETM) RNA sequencing technology. ESCAPETM is a multifaceted single-cell sequencing platform for simultaneous protein and RNA measurements. This technology enables single cell RNA sequencing platforms to efficiently detect and quantify protein expression. The technology platform was invented jointly by professors at the Yong Loo Lin School of Medicine and Molecular Engineering Lab under the Agency for Science, Technology and Research.
In May 2018, researchers at Virginia Tech College of Science in the US used a new sequencing technology to understand brain cell development. The use of next-generation sequencing instruments such as Illumina NovaSeq 6000 available at the Biocomplexity Institute's Genomics Sequencing Center (GSC) helped understand the development of astrocytes at a granular level. Astrocytes are star-shaped cells surrounding neurons in the brain and spinal cord. These cells aid in proper brain function and development.
Other recent innovations in the global sequencing market include 3D-printed microscope to assist DNA-sequencing in tumor cells and tissue samples, molecular barcode technology to improve the sensitivity of cancer tests, MiniPCR and MinION instruments for sequencing DNA samples of microbes, computational solution and reference architecture for whole genome analysis, and Maximum Depth Sequencing (MDS) to understand bacteria that resist antibiotics.
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