DNA Sequencing Market Insight
DNA Sequencing process is used for determining nucleotides order in a DNA molecule, precisely. Due to its ability to measure real-time nucleotides, the DNA sequencing process is used in multiple sectors. Primarily, in cancer research centers DNA sequencing is hugely used for its low-cost, fast, and highly accurate analysis methods. As a result, the market for highly advantageous DNA sequencing procedures is escalating continually at a global level, garnering phenomenal traction.
According to Market Research Future (MRFR), the global DNA sequencing market is expected to perceive phenomenal accruals by 2023. In its recently published analysis, MRFR also asserts that the market would register a double-digit CAGR over 17.64% throughout the forecast period (2018 – 2023). Rapidly growing end-user industries is a key driving force behind the growth of the market.
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Augmenting uptake of precision medicines alongside, the increasing applications of DNA sequencing in biotechnology, virology, forensic biology, and molecular biology are substantiating the market growth, predominantly. Factors, such as the growing numbers of complementary industries and human genome projects, and the increasing adoption of genetics for livestock and agriculture research foster the growth of the market.
On the other hand, DNA sequencing still being in its nascent stage present some challenges to the growth of the market. Additionally, lack of funds for R&D contrasting with the high cost required for development and maintenance of data safety and ethical considerations inhibit the growth of the market. Nevertheless, rapidly increasing private and public funding programs would support the market growth meeting the funding demand by R&D activities. Moreover, improving economic conditions would continue playing a vital role in supporting the market growth, expanding access to quality life and healthcare.
Global DNA Sequencing Market – Segments
The report is segmented into seven market dynamics to widen the scope of understanding,
By Products/Type: Consumables (reagents & chemicals, laboratory wares, other), Instruments (bioreactors, sequencers, others), and Services, among others.
By Process: Sequencing & Data Analysis, Sample Preparation, and others.
By Technology: Chain Terminator DNA Sequencing, Next Generation DNA Sequencing, and others.
By Application: Diagnostics, Precision Medicine, Drug Discovery, Molecular & Evolutionary Biology, and Agriculture & Livestock Research, among others.
By Technique: Ion Semiconductor Sequencing, Pyro-Sequencing, Synthesis Sequencing (SBS), Ligation Sequencing, Chain Termination Sequencing, Nanopore Sequencing, among others, and Single-Molecule Real-Time Sequencing (SMRT), among others.
By End-user: Hospitals & Clinics, Forensics, Pharmaceutical & Biotechnology Industry, Research Institutes, and Genomics & Livestock’s Academics, among others.
By Regions: Asia Pacific, Europe, North America, and the Rest-of-the-World (RoW).
Global DNA Sequencing Market – Geographical Analysis
North America leads the global DNA sequencing market, acquiring the largest market share. Factors boosting the growth of the market include high healthcare expenditures and increased uptake of advanced technologies. The US accounts for the major contributor to the growth of the regional market due to the increasing demand for DNA sequencing. Heading with the rising demand for DNA sequencing procedures, the region would create a larger revenue pocket, globally by 2023.
The DNA sequencing market in the European region accounts for the second-largest market, globally. Factors, such as the rising uptake of advanced technology in the medical sector, the burgeoning medical devices industry, alongside the increasing healthcare expenditure, would facilitate the growth of the regional market. Also, support and funding from public & private sectors for research & development impact the regional market growth, positively.
The Asia Pacific DNA sequencing market is emerging as a profitable market globally. Rising market demand and increasing adoption of DNA sequencing in various procedures majorly led by the enormous contributions from some of the Asian countries, such as South Korea, China, Japan, and India propel the growth of the regional market. The APAC DNA sequencing market is further expected to register a phenomenal CAGR during the forecast period.
DNA Sequencing Market – Competitive Landscape
Highly competitive, the DNA sequencing market appears to be fragmented due to the presence of many well-established players. To gain a competitive advantage, new technology launch, innovation, and brand reinforcement remain the key trends for the key players.
Players leading the global DNA Sequencing market are Perkin Elmer, Roche Holdings AG, Genia Corporation, Siemens AG, Agilent Technologies Inc., Koninklijke Philips N.V., Oxford Nanopore Technologies, Pacific Biosciences, Illumina Inc., Deep Genomics, Inc., Life Technologies, Johnson & Johnson, Eppendorf, Tecan, Myriad Genetics, Hamilton Thorne Biosciences, General Electric Company, Siemens Healthineers GmbH, Thermo Scientific, Beckman Coulter, and Bayer Corporation, among others.
August 06, 2019 —- Eurofins Genomics LLC (the US) a leading global player involved in genomic products and services announced the completion of Blue Heron Biotech (the US), a biotechnology company specializing in advanced gene synthesis. The acquisition expands Eurofins’ gene synthesis capabilities into cloning and complex gene constructs and bolsters Blue Heron’s production capabilities as well.
The deal would further provide valuable synergies for both companies due to the inherent connection between their main product segments—oligonucleotides, sequencing & synthetic genes, and strengthen Eurofins’ offerings in the synthetic biology market.
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