DNA Sequencing Market Overview:
The global DNA sequencing market is showing a great opportunity where it can surpass the anticipated market valuation with a CAGR of 17.64 % between 2018 and 2023. Market Research Future (MRFR) has determined the time frame as the forecast period in their report on the same. DNA sequencing is a technology that is rapidly getting introduced in various pharmaceutical practices to develop drugs, healthcare sectors to come up with innovative treatments, and in proper identification methods of diseases to save time and initiate a quick response. Increasing expenditure in the healthcare sector with heightened participation from private players is going to transform market dynamics. In addition, genome mapping is in vogue for several sectors.
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The global market for DNA Sequencing is witnessing a surge in interest with the growing number of researches with drug personalization and chronic disease studies. These companies are providing a basic structure to the process by constantly innovating and launching products. In doing so, they are strategically positing themselves in advantageous places. These companies are Siemens AG, Agilent Technologies Inc., Genia Corporation, Illumina, Perkin Elmer, Roche Holdings AG, Pacific Biosciences, Johnson & Johnson, Oxford Nanopore Technologies, Koninklijke Philips N.V., Illumina, Eppendorf, Deep Genomics, Inc., Life Technologies, Hamilton Thorne Biosciences, Tecan, Thermo Scientific, Myriad Genetics, Bayer Corporation, Beckman Coulter, General Electric Company, Siemens Healthineers GmbH, and others.
In December 2019, Othram revealed their plans of reconstructing DNAs to identify bodies from unmarked graves and use the method for other cases that have grown cold with time due to lack of evidence. This will help various investigative organizations in developing their plans.
The global DNA Sequencing Market study has been segmented into five definite areas in the report released by MRFR. These five segments are product, type, application, technology, and end-users.
By type, the report on the DNA Sequencing Market includes instruments & consumables services and workflow products.
By products, the report incorporates various factors of the DNA Sequencing Market and segments it into sequencing services and sequencing instruments & consumables. The sequencing instruments and consumables segment has been segmented further into product type and platform type. By product type, it is sub-segmented into consumables and instruments. By platform type, this includes sample prep kits, sanger, bioinformatics, NGS, and reagents.
By technology, the DNA Sequencing Market comprises pyrosequencing, sequencing by synthesis, semiconductor sequencing, sequencing by ligation (SBL), single-molecule real-time sequencing (SMRT), and other technologies.
By application, the report on the DNA Sequencing Market discusses agriculture and animal research, biomarker discovery, diagnostics, drug discovery, personalized medicine, and other applications as major segments.
By end-user, the report discussing the DNA Sequencing Market has biotechnology and pharmaceutical companies, clinics and hospitals, research centers, government institutes, and academia, and other end-users.
In the Americas, the possibility of growth is quite easy for the DNA sequencing market as the infrastructure in the region is in favor of it. The regional market can be separated into two distinct zones like North and South America. In the North, this growth would be easier with the US and Canada facilitating proper capitalization of various opportunities. This provides the region with an opportunity to dominate the global scenario. Tailwinds would be provided by easily accessible technologies, better research funding, and other favorable market equations.
Europe would benefit from similar features like the North American advanced economies. High R&D expenditure, better technological integration, enriching strategic moves by market players are some factors that would go in Europe’s way and assist the regional market in achieving growth.
Change in the approach towards healthcare and a massive population are two major reasons that would ensure growth for the Asia Pacific market of DNA sequencing. In fact, these reasons are also luring in major market players and making them invest in the region, which can boost the market. The barrier for the growth of the Middle East & Africa would be their lack of awareness in the advancements of healthcare and poor economic conditions that are not conducive for the market players.
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