Global DNA Sequencing Market
Global DNA Sequencing Market was valued at USD 5.2 billion in 2020 which is expected to reach USD 11.8 billion by 2027 at a CAGR 11.3 %, as per the study of Qualiket Research.
Continuous advancements in sequencing technology and bioinformatics have enabled the identification of DNA variations which is expected to drive the global DNA sequencing market growth over the forecast period.
DNA Sequencing is the type of biochemical method in which DNA strands can be sequenced through massive parallelization. High accuracy, high speed, low cost, and precise results from low sample input are the advantages of gene sequencing. DNA sequencing is classified according to two technologies such as chain terminator DNA sequencing, and next generation DNA sequencing.
Increase in technological advancements in DNA sequencing is expected to boost the global DNA sequencing market growth. Furthermore, rise in usage of gene sequencing technique in forensic lab will have positive impact on global DNA sequencing market growth.. Moreover, increase in demand of DNA sequencing in genomics research is expected to fuel the global DNA sequencing market growth.
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Global DNA Sequencing Market is segmented on the basis of type such as Services, Instruments and Consumables and Workflow Products. Also, market is segmented on the basis of technology including Next Generation DNA Sequencing, and Chain Terminator DNA Sequencing, and application such as Oncology Studies, Personalized Medicines Biomarker Discovery, Forensics, and Others.
However, huge maintenance cost is the major restraining factor which is expected to hinder the growth of global DNA sequencing market. Also, government regulations and policies of various countries will affect the global DNA sequencing market growth.
Impact of COVID 19
Increase in COVID-19 cases has driven the demand for DNA sequencing in large scale, rapid genomic sequencing projects to monitor the spread and guide treatments in near future. Also, increase in efforts by organizations and government agencies to broaden the accessibility for NGS based diagnostic tests in hospitals, clinics and diagnostic centers for COVID-19 diagnosis is expected to propel the hospitals and clinics segment at a lucrative pace.
Various key players are profiled in this report including Siemens AG, ZS Genetics, Myriad Genetics, Microchip Biotechnologies, Hamilton Thorne Biosciences, Integrated DNA Technologies, Abbott Laboratories, GE Healthcare Lifesciences, Agilent Technologies, Johnson and Johnson, and Bayer Corporation.
- On the basis of product, the global DNA sequencing market is anticipated to grow at highest CAGR from 2020 to 2027.
- On the basis of Technology pyrosequencing technology segment is expected to witness the highest growth rate during the forecast period.
- Qualiket Research’s Global DNA Sequencing Market Report includes analysis of latest market trends, opportunities, market driving factors and restraining factors.
North America is expected to hold largest revenue share during this forecast timeline due to continuous technological advancement by key players, increase in investments in research and development activities, as well as availability of technologically advanced healthcare infrastructure. In APAC the global DNA sequencing market is projected to witness lucrative growth rate over the forecast period.
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