Increasing R&D Activities in Healthcare Sector has Motivated Global DNA Sequencing Market at a CAGR of 17.64 % By 2023
Global DNA Sequencing Market Research Report: By Type (Workflow Products and Others), By Product (Sequencing Services and Others), By Technology (Semiconductor Sequencing and Others), By Application (Diagnostics and Others), End-Users— Forecast Till 2023
Pune, India – September 27, 2019 /MarketersMedia/ —
Market Insights
According to a new report published by Market Research Future Reports, the global DNA sequencing market is projected to grow at a CAGR of 17.64 % from the year 2018 to 2023. The market has recorded a significant growth graph since past years and will continue to grow at the same pace in the years to come.
In general, DNA sequencing is referred to as a molecular technique that helps in determining the nucleotide sequence of DNA (deoxyribonucleic acid), which is the most fundamental level of knowledge of a gene or genome. DNA sequencing in the new technology that has revolutionized molecular biology and genomics research. DNA sequencing has become essential for life science research, which is applied in the fields such as forensics, cancer diagnostics, and others. DNA sequencing has made it possible to sequence whole genomes and analyzes various DNA-protein interactions conveniently. This technique has allowed the researchers to focus, study, and interpret deep of a case. DNA sequencing is even utilized through multiple interventions, such as oncology, biomarker studies, drug discovery, understanding reproductive health, and personalized genomics. By gathering several benefits and user applications, the global DNA sequencing market is proliferating at a higher CAGR in the current year and will expand rapidly as predicted till 2023.
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Global DNA Sequencing Market: Drivers & Trends
The DNA sequencing market is driven by some significant factors such as the growing requirement of breeders for animals and plant production, development in technology, increasing research and development, growing prevalence of cancer, and growth in liquid biopsy applications. Even the new market players are getting attracted towards the global DNA sequencing market owing to many research projects that are taking place in DNA sequencing. These factors are thus, pulling the global DNA sequencing market towards a positive direction and paving comprehensive ways for more opportunities to come in the future timeline.
Other significant factors that are continually driving the global DNA sequencing market are a rise in technological advancements in DNA sequencing, growth in collaborations & partnerships, and increase in genome mapping programs globally. Besides this, the increase in investment in R&D is enhancing the demand for DNA sequencing. Thereby, the market provides lucrative opportunities for market growth in prominent ways. Also, the rise in awareness about DNA sequencing and surge in investment in research, development, and innovation are supplementing the global DNA sequencing market growth in the forecast period.
On the flip side, factors such as lack of skilled professionals, ethical & legal limitations related to DNA sequencing, and standardization in sequencing procedures can hinder the global DNA sequencing market growth.
DNA Sequencing Market Segmentation
In the reports of MRFR, the global DNA sequencing market has been segmented by type, product, technology, application, and end-users.
By the mode of type, the market is segmented into instruments and consumables services and workflow products.
By the mode of product, the market is segmented into sequencing services and sequencing instruments and consumables. Sequencing instruments and consumables are then further sub-segmented into two types, namely, sequencing instruments and consumables by product type and by platform type.
By the mode of product type, Sequencing instruments and consumables are further sub-segmented into consumables and instruments, whereas sequencing instruments and consumables, by platform type, are further sub-segmented into NGS, sanger, bioinformatics, sample prep kits, and reagents.
By the mode of technology, the market is further segmented into semiconductor sequencing, pyrosequencing, sequencing by synthesis, single-molecule real-time sequencing (SMRT), sequencing by ligation (SBL), and other technologies.
By the mode of application, the market is further segmented into diagnostics, agriculture and animal research, biomarker discovery, personalized medicine, drug discovery, and other applications.
By the mode of end-user, the market is segmented into research centers and government institutes and academia, biotechnology and pharmaceutical companies, clinics and hospitals, and other end-users.
Regional Outlook
By region-wise, the global DNA sequencing market has covered major regions such as the Americas, Europe, Asia-Pacific, and the Middle East and Africa.
Among them, the North American market is projected to lead the DNA sequencing market owing to the rising prevalence of cancer among the elderly population, developed innovation ecology, enormous buying power, and the presence of major players. Even Europe is also estimated to drive the growth of the DNA sequencing market in the forthcoming years owing to the increasing incidences of an aging population suffering from cancer, sedentary lifestyle, and an efficient reimbursement scenario.
Whereas, the Asia-Pacific region is projected to register a robust growth in the coming years owing to the large patient population and mounting healthcare infrastructure and expenditure.
Moreover, the Middle East and Africa region are expected to account for the lowest market share in the global DNA sequencing market owing to the lack of advanced technology and inadequate medical facilities in developing economies in this region.
Key Players
Market Research Future Reports has listed the names of key players in the global DNA sequencing market. They are Perkin Elmer, Roche Holdings AG, Siemens AG, Illumina, Agilent Technologies Inc., Genia Corporation, Oxford Nanopore technologies, Koninklijke Philips N.V., Pacific Biosciences, Johnson & Johnson, Deep Genomics, Inc., Life Technologies, Illumina, Eppendorf, Tecan, Thermo Scientific, Hamilton Thorne Biosciences, General Electric Company, Siemens Healthineers GmbH, Myriad Genetics, Bayer Corporation, Beckman Coulter, and others.
Industry News
May 20, 2019: Longas Technology Pty Ltd. has unveiled new DNA sequencing technology. The new technology claims that it can convert industry standard short read sequencers into virtual long read machines, increasing accuracy in resolving genomic repeats that occur in multiple locations and reducing the cost of assembling a complete genome.
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