DNA Sequencing Market is anticipated to grow at a CAGR of ~18.0% from 2019 to 2030.
Market Industry Reports (MIR) has published a new report titled “DNA Sequencing Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the global DNA sequencing market is estimated to be over US$ 8,500.0 million in 2019. It is anticipated to grow at a CAGR of ~18.0% from 2019 to 2030.
Sequencing-services is one of the most prominent growth avenues in the global biotechnology sector. These technologies find wide scale applications in the field of cancer, reproductive health, genetic disorders and infectious diseases among others. Several other factors have also played a pivotal role in fuelling the growth of this market. Growing adoption of personalized & regenerative medicines and rising incidences of chronic disorders, and advent of novel technologies have also been significant in complimenting to the growth of this market. However, High cost related sequencing have limited the adoption of these techniques and ethical issues related to DNA sequencing in reproductive health are some of the factors likely to restrain the market to a certain extent.
The introduction of regenerative & personalized medicines has been one of the major factors propelling the growth of the global DNA sequencing market. For instance, rising incidences & prevalence of chronic disorders have triggered the need for personalized medicines, to specifically cater to the genome of an individual. DNA sequencing technology application, in this field have assisted researchers to better understand the genomic makeup and thereby formulate drugs specifically catering to ailments.
For instance, technological advancements in the sector of sequencing-services have played a pivotal role in impelling the global DNA sequencing market. Since, the commercial introduction of first generation sequencing techniques, followed by next-generation sequencing (NGS), DNA sequencing has matured into an essential tool for studying genetic features for a wide range of applications. As novel, innovative & advanced technologies are continuously being introduced, the market for global DNA sequencing market, looks extremely promising in the coming years.
Browse key industry insights spread across 160 pages with market data tables & figures & charts from the report, DNA Sequencing Market by Product (Instruments, Consumables and Services), Application (Diagnostics, Reproductive Health, Forensics, Biomarkers & Cancer and Personalized Medicine), Technology (Sequencing by Synthesis, Sequencing by Ligation, Single-molecule Real-time Sequencing, Nanopore Sequencing, Ion Semiconductor Sequencing, Pyrosequencing, and Chain Termination Sequencing), and End User (Academic & Government Research Institutes, Biotechnology & Pharmaceutical Companies, and Hospitals & Clinics) – Market Size & Forecast, 2019-2030 in detail along with the table of contents:https://www.marketindustryreports.com/DNA-sequencing-market/231
Although, price associated with sequencing has witnessed a significant downfall since the introduction of novel technologies, but to promote wide scale adoption, the costs needs to be further lowered.
North America is estimated to account for the largest market share in the global DNA sequencing market in 2019. The large share of this region can be attributed to several factors such as presence of advanced healthcare & research infrastructure, rising incidences & prevalence of chronic disorders and availability of funding & grants for carrying out R&D studies. However, Asia Pacific is projected to account for the highest CAGR during the forecast period. The growth of this region can be attributed to favorable government regulations, improving research infrastructure and growing economic capabilities among countries in this region.
The prominent players operating in the global DNA sequencing market are Abbott Laboratories, Agilent Technologies, Inc., Danaher (Beckman Coulter), F. Hoffmann-La Roche Ltd, Illumina, Inc., LI-COR, Inc., Pacific Biosciences of California, Inc., Oxford Nanopore Technologies, Bio-Rad Laboratories, Inc., and Thermo Fisher Scientific Inc. among others
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