DNA Sequencing Market Overview:
The global DNA sequencing market is on a path to produce 17.64% CAGR during the forecast period of 2018-2023. Market Research Future (MRFR) analyzed several dynamics to understand the growth factors that can boost the global market.
Factors like an increased investment for the research & development facilities, better infrastructure in research labs, increasing funding from private and public bodies, and others. However, the global market may find it difficult to proceed easily with inaccuracy in several products and standardization. Also, various limitations regarding legal troubles can boost global market growth.
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DNA Sequencing Market Segmentation:
The global DNA sequencing market is benefiting from a segmentation launched by experts that include product, technology, type, application, and end-users.
By type, the DNA Sequencing Market includes instruments and consumables services and workflow products.
By products, the DNA sequencing market has been segmented into sequencing services and sequencing instruments & consumables. The sequencing instruments and consumables segment comprises product type and platform type. By product type, the segment has consumables and instruments. By platform type, the segment can be studied on the basis of sanger, bioinformatics, NGS, sample prep kits, and reagents.
By technology, the DNA sequencing market includes pyrosequencing, sequencing by synthesis, semiconductor sequencing, sequencing by ligation (SBL), single-molecule real-time sequencing (SMRT), and other technologies.
By application, the DNA sequencing market includes segments like diagnostics, agriculture and animal research, drug discovery, biomarker discovery, personalized medicine, and other applications. The drug discovery segment is getting boosted by increasing financial support from pharmaceutical companies. Biomarkers are getting high traction from its rising inclusion in cancer treatment. The personalized medicines segment is getting a nod from the growing treatment of chronic diseases. In various diagnostics, timely results provide scope for better treatment owing to which the DNA sequencing market would gain better traction.
Based on end-user, the DNA Sequencing Market is segmented into research centers and government institutes and academia, biotechnology and pharmaceutical companies, clinics and hospitals, and other end-users.
DNA Sequencing Market Regional Analysis:
North America is slated to top the global market as its regional market is getting boosted by the constant influx of investment and better infrastructure quality. In Europe, this growth would get backed by robust research and development facilities. In the Asia Pacific countries, the regional market would gain from structural overhauling in the healthcare sector.
The global DNA sequencing market is gaining substantial benefit from the contributions made by various DNA sequencing companies like Siemens AG, Illumina, Agilent Technologies Inc., Perkin Elmer, Roche Holdings AG, Koninklijke Philips N.V., Genia Corporation, Oxford Nanopore Technologies, Deep Genomics, Inc., Pacific Biosciences, Johnson & Johnson, Thermo Scientific, Life Technologies, Illumina, Eppendorf, Tecan, General Electric Company, Siemens Healthineers GmbH, Hamilton Thorne Biosciences, Bayer Corporation, Beckman Coulter, Myriad Genetics, and others. These companies are relying on various measures like acquisition, merger, collaboration, innovation, investment hike for research and development facilities, and others. MRFR’s profiling of these steps would help the market in introducing better strategies to increase the profit margin.
The recent outbreak of the COVID-19 pandemic is boosting the demand for DNA sequencing. A close look into the genome structure of the affected patient and patients with mild symptoms can show what is helping people to counter the virus in a better way. This could lead to better development of drugs to assist in the process of slowing down the rapid expansion of the virus. This could help in finding vaccines and also in understanding the treatment procedure that can help the global healthcare structures.
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