Global DNA sequencing market is expected to exhibit a strong 17.64% CAGR over the forecast period from 2018 to 2023, according to the latest research report from Market Research Future (MRFR). The global DNA sequencing market is mainly driven by the growing prevalence of cancer and the growing awareness of the assistance DNA sequencing can provide in diagnosing it, the growing geriatric population and the growing prevalence of neurodegenerative conditions, and the growing awareness about DNA sequencing.
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Cancer is a major healthcare concern in modern times and has become a major disease to defeat for leading players in the global healthcare sector. Early diagnosis of cancer has been shown to be vital in beating the disease, with early diagnosis and screening significantly improving the chances of patients of beating the disease in the long run. DNA sequencing can be of help in this matter, as DNA sequencing allows patients to learn if they have a predetermined tendency to develop cancer. Genetic predisposition towards cancer can be diagnosed through DNA sequencing, and can help physicians stay on top of the disease even before it develops. The growing burden of cancer on the global healthcare system is likely to be a major driver for the global DNA Sequencing Market over the forecast period.
The increasing prevalence of neurodegenerative diseases is also likely to be a major driver for the global DNA sequencing market over the forecast period. Neurodegenerative diseases often have a genetic component, which can be isolated and identified through DNA sequencing. This allows physicians to offer early, precautionary and preventive treatments to combat neurodegenerative diseases, as well as being able to manage the progression of the disease in case it does develop. This is likely to be a key driver for the global DNA sequencing market over the forecast period.
DNA Sequencing Market Competitive Analysis:
Leading players in the global DNA sequencing market include Beckman Coulter, Bayer Corporation, Myriad Genetics, Siemens Healthineers GmbH, General Electric Company, Hamilton Thorne Biosciences, Thermo Fisher Scientific, Tecan, Eppendorf, Illumina, Life Technologies, Deep Genomics Inc., Johnson & Johnson, Pacific Biosciences, Koninklijke Philips N.V., Oxford Nanopore Technologies, Genia Corporation, Agilent Technologies Inc., Roche Holdings AG, and PerkinElmer.
In November 2019, researchers in Germany found a way of illuminating the unseen regions of DNA sequences, called short tandem repeats (STRs). The method combines CRISPR-Cas technology with nanopore sequencing and stem cells in order to observe STRs, which have previously been inaccessible. This could lead to technologies that more accurately and quickly predict diseases.
In November 2019, Illumina Inc. opened a new training center in the University of Maryland BioPark in Baltimore.
DNA Sequencing Market Segmentation:
The global DNA sequencing market has been segmented on basis of type, product, technology, application, and end-users.
On the basis of type, the DNA sequencing market is segmented into instruments and consumables services and workflow products.
Based on products, the DNA Sequencing Market is segmented into sequencing services and sequencing instruments and consumables. Sequencing instruments and consumables are further sub-segmented into two types, namely, sequencing instruments and consumables by product type and by platform type. Sequencing instruments and consumables, by product type, are further sub-segmented into consumables and instruments, whereas sequencing instruments and consumables, by platform type, are further sub-segmented into NGS, sanger, bioinformatics, sample prep kits, and reagents.
On the basis of technology, the DNA sequencing market is further segmented into semiconductor sequencing, pyrosequencing, sequencing by synthesis, single-molecule real-time sequencing (SMRT), sequencing by ligation (SBL), and other technologies.
On the basis of application, the DNA sequencing market is further segmented into diagnostics, agriculture and animal research, biomarker discovery, personalized medicine, drug discovery, and other applications.
Based on end-user, the DNA sequencing market is segmented into research centers and government institutes and academia, biotechnology and pharmaceutical companies, clinics and hospitals, and other end-users.
DNA Sequencing Market Regional Analysis:
North America holds the dominant share in the global DNA sequencing market, followed by Europe. The strong presence of leading players in the North America market has been a major driver for the DNA sequencing market in the region.
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