DNA Sequencing Market Synopsis
As per the assessment by Market Research Future (MRFR), the global DNA sequencing market 2020 can expand at a CAGR of 17.64% while acquiring a significant market value during the evaluation period from 2018 to 2023.
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The increasing demand for DNA sequencing in biotechnology, virology, and forensic biology is expected to drive the market during the evaluation period. The growing need for easy and fast clinical diagnosis owing to the increasing incidence of chronic illness is projected to propel the market. The rise in genome mapping programs is another potential factor that can escalate the Demand for DNA sequencing and add momentum to the market. Other salient factors such as; rising research on cancer and the growing trend of personalized genomics can further escalate the DNA sequencing demand and boost the market.
On the flip side, expensive machinery and lack of expertise are likely to hinder the market growth in the coming period. However, various countries’ governmental agencies are increasing funding for research, which is expected to counter the obstructing factors and aid in market expansion.
DNA Sequencing Market Segmentation
The segmental analysis of the global DNA sequencing market is done by technology, devices, process, technique, applications, and end-users.
The technology-based segments of the global DNA sequencing market are next-generation DNA sequencing, chain terminator DNA sequencing, and others.
The devices-based segments of the global DNA sequencing market are instruments, consumables, and others. The instruments segment is further segmented into bioreactors, sequencers, and others. The consumables segment is further segmented into laboratory wares, reagents and chemicals, and others.
The process-based segments of the global DNA sequencing market are sequencing, sample preparation, data analysis, and others.
The technique-based segments of the global DNA sequencing market are Nanopore sequencing, pyro-sequencing, ion semiconductor sequencing, synthesis sequencing (SBS), single-molecule real time sequencing (SMRT), ligation sequencing, chain termination sequencing, and others.
The applications-based segments of the global DNA sequencing market are drug discovery, diagnostics, precision medicine, agriculture research, livestock research, and others.
The end-users-based segments of the global DNA sequencing market are forensics, hospitals and clinics, genomics and livestock’s, pharmaceutical and biotechnology industry, academics and research institutes, and others.
DNA Sequencing Market Regional Analysis
Based on geography, the market is segmented into North America, Europe, Asia-Pacific, and Middle East & Africa.
According to the analysis, North America is anticipated to dominate the global market owing to the increasing incidences of cancer among the American population. Moreover, the application of advanced technology and rigorous R&D activity in cancer are other salient causes driving the regional market during the projection period.
Europe is expected to acquire notable market growth during the evaluation period owing to the increasing adoption of a sedentary lifestyle and growing population suffering from cancer.
The APAC region is likely to witness promising growth during the review period owing to the increasing pool of patients suffering from cancer. In addition, the growing healthcare expenditure, along with developing medical facilities, are expected to develop the regional market.
The MEA region is anticipated to acquire the least market share owing to the lack of expertise and unawareness. However, there are various untapped opportunities that can expand the regional market.
DNA Sequencing Market Key Players
Some of the prominent players of the global DNA sequencing market are Roche Holdings AG, Perkin Elmer, Siemens AG, Agilent Technologies Inc., Illumina, Genia Corporation, Koninklijke Philips N.V., Oxford Nanopore technologies, Pacific Biosciences, Deep Genomics, Inc., Johnson & Johnson, Life Technologies, Eppendorf, Tecan, Thermo Scientific, General Electric Company, Hamilton Thorne Biosciences, and Siemens Healthineers GmbH.
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