Allied Market Research published a report, titled, “DNA Sequencing Market – Global Opportunity Analysis and Industry Forecast, 2017 – 2023”. The report stated that the market accounted for $5,156 million in 2016 and is expected to reach $18,284 million by 2023, growing at a CAGR of 19.6% from 2017 to 2023.
Rapid advancement in DNA sequencing technology, a global increase in genome mapping programs, and an upsurge in collaborations & partnerships drive the market. An increase in sequencing applications worldwide has led to a rise in investment in R&D – providing profitable opportunities for market growth. The demand for DNA sequencing is also poised to increase in the future. However, concerns regarding accuracy, standardization, and ethical limitations restrain market growth.
Comprehensive Analysis of Key Players
The key players operating in the global DNA sequencing market include Illumina, Inc., Thermo Fisher Scientific, Inc., Siemens AG, Pacific Biosciences of California, Inc., ZS Genetics, Inc., Beckman Coulter (Fullerton, CA), 454 Life Sciences Corporation (Roche Holding AG), Agilent Technologies, Inc., Abbott Laboratories, and LI-COR, Inc.,Eurofins Scientific, Gatc Biotech AG, Macrogen, Inc., Oxford Nanopore Technologies, Ltd., Bio-Rad Laboratories, Inc., DNASTAR, Inc., Biomatters Ltd., New England Biolabs, Inc., and Myriad Genetics, Inc.
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The report offers a detailed segmentation of the global DNA sequencing market based on product, application, technology, end user, and geography. By product, the market is classified into consumable, instrument, and service. The consumables product segment captured nearly three-fifths share of the market in 2016, and is expected to encounter the highest growth during the forecast period owing to their downright usage and need during sample preparation, library construction, and other pre-requisite steps of DNA sequencing. Based on application, the market is demarcated into diagnostics, biomarkers and cancer, reproductive health, personalized medicine, forensics, and others. The biomarker and cancer segment has a strong foothold at present, and is expected to continue the dominance during the forecast period with a CAGR growth rate of 18.9%.
The report also segregates the DNA sequencing market based on technology, dividing it into sequencing by synthesis, ion semiconductor sequencing, sequencing by ligation, pyrosequencing, single molecule real time sequencing, chain termination sequencing, and nanopore sequencing. Accounting for over half of the market share in 2016, the sequencing by synthesis technology is one of the most widely used DNA sequencing platforms today and is expected to be so in the future as well. Based on geography, an increase in awareness regarding DNA sequencing and its potential applications has deemed Asia-Pacific to experience the highest growth through 2023.
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Key Findings of the DNA Sequencing Market:
- The instrument product segment is anticipated to grow at the highest CAGR from 2017 to 2023.
- The personalized medicine application segment is expected to witness the highest growth rate during the forecast period.
- The academic and government research institutes segment generated the highest revenue in 2016, and is expected to continue its dominance in the future as well.
- North America dominated the global DNA sequencing market, and is projected to grow at a CAGR of 18.7%.
- Pyrosequencing technology is expected to witness the highest growth rate during the forecast period.
DNA Sequencing Market Key Segments:
- Biomarkers and Cancer
- Reproductive Health
- Personalized Medicine
- Other Applications
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