The rising advancements in DNA sequencing technologies is expected to enable growth of the global DNA sequencing market, says Fortune Business Insights has published a premium research report on, titled, “DNA Sequencing Market Size, Share & Industry Analysis, By Type (Instruments, Reagents & Consumables, Workflow Products, Services), By Technology (Next Generation DNA Sequencing, Sanger Sequencing), By Application (Research & Clinical Trials, Others) By End-User (Biotechnology & Pharmaceutical Industries, Diagnostic Centers, Hospitals & Clinics) and Regional Forecast, 2019-2026.” The rising prevalence of various cancers and genetic diseases is expected to contribute to growth of the market.
list of key companies mentioned in DNA sequencing market report,
- Abbott, Danaher
- Hoffmann-La Roche Ltd
- Illumina, Inc.
- LI-COR, Inc.
- Pacific Biosciences of California, Inc.
- Thermo Fisher Scientific Inc.
- PerkinElmer Inc.
- and other players.
As per the report, the rising prevalence of breast cancer among women around the world is expected to accelerate the growth of the DNA sequencing market. For instance, in 2018, according to the American Institute for Cancer (AICR), it was estimated that 2 million women around the globe were diagnosed with breast cancer. In addition, increasing applications of DNA sequencing in imaging, nanotechnology, bioinformatics, and development of effective gene therapy will also contribute significantly to the market during the forecast period.
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The report offers a detailed analysis of the aspects that will play an important role in the expansion of the market. An all-inclusive summary of the subtleties, trends, and industry outlook is also present in the report.
Increasing Partnerships and Collaborations Will Encourage Growth
The collaboration of Nebula Genomics with Merck KGaA is predicted to aid growth of the DNA sequencing market. For instance, Nebula Genomics announced its collaboration Merck KGaA with the goal to enhance drug discovery for lung cancer patients and offering a free high-coverage germ line and tumor whole-genome sequencing.
The launch of Morphoseq Long Read DNA Sequencing Technology is predicted to contribute to the DNA sequencing market growth. For instance, Longas Technologies launched Morphoseq Long Read DNA Sequencing Technology which is designed to improve the NGS platforms by increasing effective read lengths, providing benefits of high accuracy and cost efficiency sequencing.
Furthermore, increasing applications of DNA sequencing in imaging, nanotechnology, bioinformatics, and development of effective gene therapy, for the treatment of various types of diseases are likely to drive the DNA sequencing market growth during the forecast period. In addition, growing applications of DNA sequencing in pharmacogenomics will fuel demand for the development of personalized medicines.
This factor will boost the market growth during the forecast period. However, the lack of skilled professionals and low awareness about the emerging technologies in DNA sequencing in low-middle income countries is likely to hinder the growth of the market during the forecast period.
Presence of Key Players Will Enable Growth North America
Geographically, the global DNA sequencing market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East Asia and Africa. North America is expected to dominate the market during the forecast period owing to the presence of key players in the region.
The rising prevalence of various genetic disorders and growing investments by key players for the development of technological advanced DNA sequencing technology will further boost growth in North America. In Europe, rising awareness about the growing application of DNA sequencing in developing effective gene therapy is likely to drive the market during the forecast period.
In the Asia Pacific and Latin America, the market is expected to grow at a significant rate owing to the growing prevalence of various chronic disorders & cancers. The rising adoption of new technology in DNA sequencing and surge inpatient population will further stimulate growth in the region.
In the Middle East & Africa, growing unmet needs for the cost-effective diagnosis of various diseases is likely to accelerate the growth of the market in the region.
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