In the past year, we’ve seen a lot of change in the DNA/Genome sequencing industry with the introductions of new instruments to make processes faster and more affordable.
However, DNA sequencing equipment creates significant financial complications for labs, increasing the pressure on maintaining the expenses for biomedical research. This demand for more affordable instruments and the need for cost-effective procedures has resulted in Illumina’s new plans to decrease procedure costs to as low as $100, spurred various scientists in the US and Sweden to develop a DNA-analyzing kit that can run on a smartphone, and much more.
With the industry’s technology improving quickly, we’re also seeing rising interest from potential competitors abroad – specifically in China’s market for DNA sequencing. In 2015, the Chinese sequencing market reached $877.6 million, and is expected to reach almost $2.5 billion by 2021, according to a recent statistics from PR Newswire.
As a whole, sequencing instruments, consumables and others as a market is expected to grow from $546.8 million in 2016 to $976.6 million by 2021 at a CAGR of 12.3%.
Our insights on the industry shows that as the market grows year over year, much of the equipment, even though introduced only a couple years ago, loses value quickly and becomes inferior to the latest generation of instruments. As more companies race to develop better, faster, and more cost-feasible sequencing equipment, we’re looking ahead to see what new and exciting capabilities are introduced.