DNA Sequencing Market Overview
DNA sequencing has huge medical and biotechnology applications. It is basically used for studying oncology and forensics department. The increased rate of research and development activities in the biotech field is driving the DNA sequencing market. The DNA sequencing market is estimated to reach a CAGR of 17.64 % during the forecast period.
The heavy investment in sequencing applications due to its wide usage in Next-generation sequencing and Whole-genome sequencing is accelerating the market’s demand. The whole-genome sequencing merely helps novel microorganisms and viruses discovered by metagenomic approaches.
The growing clinical syndromes are resulting in viral infections, and isolating the causing microbes is difficult by using the traditional culture methods. The random sequencing of viral genomes has helped in new viruses identification in the past. These techniques are still increasing, and it is enhancing DNA sequencing methods.
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The DNA sequencing market is showing massive growth in the agriculture sector. Genetic factors, resisting disease quality, drought tolerance, and higher-yielding are obtained through this technique. It has been of greater benefit for the agriculture field.
During the coronavirus outbreak, when the number of COVID cases grew around the world, scientists and researchers started sequencing methods to study the genetic makeup of the virus, which has propelled the demand in the DNA sequencing market.
The rapid genome sequencing techniques adopted the spread of the viruses, which helped in guiding patient treatments. This technique has successfully controlled the spread of coronavirus. The COVID sequence test carried out during the pandemic was able to sequence the genome of the coronavirus, which helped the researchers to understand and study the virus. Hence, the DNA sequencing market maintained a good growth rate during this period.
DNA Sequencing Market Segmentation
The DNA sequencing market is segmented into products, applications, technology and end-user.
The product segment is fragmented into consumables, instruments, and services. The application segment of the market is sub-divided into diagnostics, biomarkers & cancer, reproductive health, personalized medicine, forensics and others.
The technology segment is classified into Ion Semiconductor Sequencing, Sequencing by Ligation, Pyrosequencing, Sequencing by Synthesis, Single-molecule Real-time Sequencing, Nanopore Sequencing and Chain Termination Sequencing.
The end-user section of the market is categorized into Biotechnology Companies, Academic and Government Research Institutes, Pharmaceutical Companies and Hospitals & Clinics.
DNA Sequencing Market Regional Analysis
The DNA sequencing market is distributed into regions such as the Americas, Europe, Asia Pacific and the Middle East and Africa.
North America captures the highest market share due to the presence of key market players and heavy investments in research and development activities. The government of the US and Canadian are increasing the initiatives which are boosting the market’s growth. The North American region is estimated to acquire the highest revenue.
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The Asia-pacific region is also showing a significant growth rate in recent years due to the huge customer base, propelling international firms to expand their businesses with initiatives.
DNA Sequencing Industry News
Element Biosciences’ first DNA sequencing product will make out to public debut after successfully raising USD 276 million from venture capital last year,
The company is in hopes of making a splash in the competitive market with its Aviti system, which is designed to provide flexible genomic analyses based on cost and performance standpoints.
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