Pune, India, 2022 /press release/- Market Research Future published a upcoming Research Report on Global DNA Sequencing Market Research Report.
Deoxyribonucleic acid (DNA) includes four bases- adenine, guanine, cytosine, and thymine; and, DNA sequencing determines precise nucleotides order in a DNA molecule for effective medical treatment.
The global DNA Sequencing Market is expected to be valued at USD 4.8 Billion by 2030, growing at an 11.20% CAGR during forecast 2023-2030
DNA sequencing industry has been witnessing demand due to its promising potential in the diagnosis of cancer which is one of the leading causes of mortality across the globe. Other factors responsible for catapulting the DNA sequencing market expansion across the forecast period include precision medicine, growing adoption of genetics for livestock and agriculture research, projects similar to human genome project, etc. The booming peripheral industries such as biotechnology, forensic biology, virology and molecular biology will also complement the market expansion.
Next Generation Sequencing (NGS) will revolutionize the DNA sequencing industry over the next few years as it enables real-time measurement of nucleotides addition to a DNA molecule. NGS coupled with DNA field-effect transistor (DNAFET) technology has opened up avenues for proliferating revenue creation from the DNA sequencing market. However, the restraints that will hold the market growth include the nascent state of the technology, high cost of development and maintenance, and, concerns about data safety among others.
By type, the DNA sequencing market has been segmented into instruments, consumables, and others. The instruments segment is further sub-segmented into sequencers, bioreactors, and others. The consumables segment has further been sub-segmented into reagents and chemicals, laboratory wares, and others.
By process, the DNA sequencing market is segmented into sample preparation, sequencing, data analysis, and others.
By technology, the market has been segmented into chain terminator DNA sequencing, next-generation DNA sequencing, and others.
By application, the DNA sequencing market is segmented into diagnostics, drug discovery, precision medicine, livestock research, agriculture research, and others.
By technique, the market has been segmented into ion semiconductor sequencing, pyro-sequencing, synthesis sequencing (SBS), ligation sequencing, single molecule real-time sequencing (SMRT), chain termination sequencing, Nano pore sequencing and others.
By end users, the global DNA sequencing market is segmented into hospitals and clinics, forensics, genomics and livestock’s, academics and research institutes, pharmaceutical and biotechnology industry, and others.
By region, the global DNA sequencing market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Rest of the World (RoW). North America is one of the largest revenue generators in the global DNA sequencing market. The DNA sequencing industry in the region was responsive enough in adopting the technology for curbing the rising burden of cancer in the region. Furthermore, the concentration of top-notch market players has proliferated the market growth and expansion. The U.S. is the primary player in the North America market.
Europe will hold a significant share in the global market owing to the presence of developed economies that have been witnessing a rise in healthcare expenditure and increased research & development activities. The advanced economies that will be the major contributors in Europe market are the U.K., Germany, and, France.
Asia Pacific region will be the fastest growing market globally with the most significant contributions being generated from Japan, South Korea, China, and India. One of the major drivers of growth in this region is the surge in initiatives undertaken by the governments for enhancing the quality of healthcare services available.
The Middle East & Africa region will thrive steadily owing to the developments in the healthcare sector of Middle East region. The Rest of the World market will show a similar trend and will grow at a sluggish rate during the forecast period.
The key players profiled by MRFR in its latest report for providing an insightful macro overview of the DNA sequencing market include Siemens AG, Agilent Technologies Inc., Perkin Elmer, Roche Holdings AG, Illumina, Oxford Nanopore technologies, Koninklijke Philips N.V., Genia Corporation, Deep Genomics, Inc., Pacific Biosciences, Johnson & Johnson, Life Technologies, Tecan, Thermo Scientific, Hamilton Thorne Biosciences, General Electric Company, Siemens Healthineers GmbH, Myriad Genetics, Bayer Corporation, Beckman Coulter, Eppendorf, among others. The players in the market strive to gain more traction in the market revenue by implementing growth strategies such as clinical trials, adoption of latest technology, agreements, acquisitions & mergers, innovative collaborations, etc.
In April 2022, the Chief Minister of Andhra Pradesh, a state in India, has entered into a partnership with Shivom, which is a Germany-based private firm that deals in genomics and precision medicine. The partnership aims at integrating blockchain technology into DNA sequencing for improving predictive medicine industry in India.