As per to Precedence Research, the DNA sequencing market growth is expanding at a CAGR of 17.5% over the forecast period and expected to reach around US$ 40.64 billion by 2030.
As per to Precedence Research, the DNA sequencing market growth is expanding at a CAGR of 17.5% over the forecast period and expected to reach around US$ 40.64 billion by 2030.
The technological advancements in the bioinformatics and the sequencing technology have facilitated the identification of different variations of DNA. The growing applications of the Whole Genome Sequencing and the Next Generation Sequencing has favored the testing of large range of genes on a single platform. The DNA sequencing offers identification of the mutation of the cancer pathways for which precision medicines are developed. The DNA sequencing facilitates the development of personalized cancer treatment. Therefore, the surging prevalence of cancer across the globe is expected to drive the growth of the DNA sequencing market.
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In January 2020, Centers for Medicare and Medicaid Services had included the Next Generation Sequencing based diagnostics for breast cancer and ovarian cancer patients that offer the patients to personalize their cancer care plans. This type of initiatives by the government authorities is expected to drive the growth of the global DNA sequencing market.
Report Highlights:
- By product, the consumables segment dominated the market in 2020. This attributed to the availability of the reagents and kits that serves the various steps of library construction such as enrichment, adapter, amplification, DNA fragmentation, and quality control. These tools facilitates in simplified workflows.
- By technology, Next-Generation Sequencing was estimated to be the dominating segment in 2020. The advancements in the NGS technologies and the reduction in the costs has resulted in the fast genome sequencing, increased affordability, and accurate results. Furthermore, the NGS has gained rapid traction as the routine diagnostic test, which has favored the dominance of the segment.
- Based on the application, the oncology was the largest segment in 2020. The DNA sequencing technology has higher potential in the research and development of the diagnostics and therapeutics for cancer. This technology can identify the different variants across various genes in a single test.
- By end use, the academic research was the dominant segment in the global DNA sequencing market in 2020. The ongoing research and the rising investments by the pharmaceutical companies in the research and development and clinical trials pertaining to the various NGS based diagnostics and therapeutics has favored the growth of this segment in the DNA sequencing market.
- North America was the leading DNA sequencing market in 2020. The increased investments by the top market players in the technological advancements, research and development, and the presence of developed and advanced healthcare infrastructure are the prominent factors that has driven the growth of the North America DNA sequencing market. Furthermore, the favorable government policies in the countries like US and Canada has favored the market growth exponentially.
- Asia Pacific is estimated to be the most lucrative market during the forecast period. The presence of huge consumer base in this region has attracted the investments from the large MNCs that is expected to foster the market growth in the upcoming years. The rising investments in the advancements of the healthcare infrastructure and the growing demand for the advanced diagnostics and therapeutics in the region is expected to augment the growth of the DNA sequencing market in Asia Pacific.
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Future of DNA Sequencing Market
The rapidly growing prevalence of chronic diseases across the globe is fueling the demand for the advanced and fast diagnostics and therapeutics. The companies are investing heavily on the development of diagnostic technologies that can provide faster results with accuracy, which is expected to boost the growth of the market in the forthcoming future.
COVID-19 Impact Analysis:
- The outbreak of the COVID-19 pandemic had resulted in the increased demand for the DNA sequencing technologies for the monitoring of viral spread and treatment guidance in the upcoming future.
- In August 2020, the US FDA approved the Helix COVID-19 Next Generation Sequencing test under the Emergency Use Authorization.
Key Developments in the Marketplace:
- In February 2020, MGI, a part of BGI Group, made the commercial availability of its sequencing reagents kits in US.
- In October 2020, Bio-Rad Laboratories, Inc., introduced its RNA sequencing library preparation, called SEQuoia Complete Stranded RNA Library Preparation Kit.
- In May 2020, Cartana, a Swedish biotechnology company introduced its In-Situ Sequencing kit for single cell gene mapping.
- In August 2020, Illumina, Inc., introduced its NovaSeq 6000 v1.5 Reagent Kit, which helped in cost reduction for sequencing human genome.
Major Market Segments Covered:
By Product
- Instruments
- Consumables
- Services
By Technology
- Third Generation DNA Sequencing
- Next-Generation Sequencing
- Sanger Sequencing
By Application
- Clinical Investigation
- Oncology
- Forensics & Agrigenomics
- Reproductive Health
- HLA Typing
- Others
By End-Use
- Clinical Research
- Academic Research
- Biotechnology & Pharmaceutical Companies
- Hospitals & Clinics
- Others
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