DNA Sequencing Market Insight
The global DNA sequencing market is estimated to display a striking CAGR of 17.64 % over the forecast period from 2018 to 2023. This growth is attributable to the increasing adoption of techniques across screening and treatment of several diseases owing to its efficacy and continues advancement in the technology. DNA sequencing includes determining the order of nucleotide bases adenine, cytosine, guanine, and thymine in a molecule of DNA.
Additionally, the market is likely to expand on the back of the growing requirement of breeders for animals and plant production, continuously evolving technologies, increasing applications of liquid biopsy, and growing prevalence of cancer. Further, the key players are increasingly investing in the research of DNA sequencing, which is boosting the DNA sequencing market.
However, ethical and legal limitations associated with DNA sequencing coupled with accuracy and standardization concerns are restraining growth of the global DNA sequencing market. Nonetheless, increasing the use of genome mapping programs and it’s comprehensive applications are estimated to offer opportunities for growth during the forecast period.
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DNA Sequencing Market Competitive Analysis:
Some of the major companies in the global DNA sequencing market include 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, Illumina, Tecan, Hamilton Thorne Biosciences, Thermo Scientific, General Electric Company, Bayer Corporation, Myriad Genetics, and Beckman Coulter.
DNA Sequencing Market Segmentation:
The global DNA sequencing market has been segmented on the basis of product, type, technology, end-users, application, and region.
Based on the type, the market is segmented into instruments and consumables, services, and workflow products.
Based on the product segment, the market is segmented into sequencing services, sequencing instruments and consumables, sequencing instruments and consumables by product type, and sequencing instruments and consumables by the platform. Of these, sequencing instruments and consumables by product type, is segmented into consumables and instruments. Whereas, sequencing instruments and consumables by platform segment is segmented into NGS, sanger, bioinformatics, and sample prep kits and reagents.
Based on the technology, the market is segmented into pyrosequencing, semiconductor sequencing, sequencing by synthesis, sequencing by ligation (SBL), single-molecule real-time sequencing (SMRT), and other technologies.
Based on the application, the market is segmented into agriculture and animal research, diagnostics, biomarker discovery, drug discovery, personalized medicine, and other applications.
Based on end-user, the market is segmented into biotechnology and pharmaceutical companies, research centers and government institutes and academia, clinics and hospitals, and other.
Regionally, the DNA sequencing market is segmented into the Americas, Asia-Pacific, Europe, and Middle East & Africa. Of these, North America is estimated to remain dominant in the global DNA sequencing market in the coming period owing to the rising prevalence of cancer. Additionally, increasing geriatric population coupled with innovation in the technologies in the region are driving growth of the global DNA sequencing market. Larger buying power and the strong presence of key players are estimated to benefit the market growth in the region during the coming years.
Europe is estimated to hold the second position in terms of revenue in the global DNA sequencing market due to the increasing prevalence of chronic diseases coupled with a sedentary lifestyle in the region. Additionally, the presence of several reimbursement scenarios is estimated to offer to support the adoption of DNA sequencing.
However, the market in the Asia Pacific is estimated to exhibit fastest growth during the coming years owing to growing investment in the healthcare infrastructure and presence of the large patient population.
DNA Sequencing Industry News:
In 2019, DNA sequencing giant Illumina, Inc. proposed the acquisition of Pacific Biosciences of California Inc. The invaluable systems are trying to provide study genetics to develop novel medicines and medical treatments.
In 2019, the All of Us Research Program selected the HudsonAlpha Institute for Biotechnology, for evaluating the use of DNA sequencing technologies for improving diagnosis and treatment over several diseases. The National Center for Advancing Translational Sciences (NCATS) is offering to fund with USD 7 million. This investment is aimed at improving the more significant segments for sequencing technologies. These DNA differences include types of alterations to the genetic structure including duplication, deletion or rearrangement of the building blocks.
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