DNA Sequencing Market – Extensive Number of Applications with Innovative Technologies is estimated to be 13.0 Billion by 2029 with a CAGR of 10.8%-By PMI
Prophecy Market Insights latest research report on the DNA Sequencing Market provides a comprehensive analysis of the current market scenario, growth opportunities, challenges, and emerging trends. The report offers insights into the market’s size and share, key market players, distribution channels, and consumer preferences. It also examines the impact of the COVID-19 pandemic on the market and provides a detailed analysis of the competitive landscape, including strategic alliances, mergers, and acquisitions.
Covina, Sept. 14, 2023 (GLOBE NEWSWIRE) — DNA sequencing is a procedure in which DNA is extracted, fragmented, and linked to primers and adapters for the amplification reaction (PCR) for library construction. It is a general lab technique used for determining the sequence of nucleotides in DNA molecule.
Growing advancement in bioinformatics and sequencing technology has contributed in market growth. Growing prevalence of disease and rising investment in research & development activities has provided lucrative opportunities in target market growth. Growing strategic acquisitions to improve next-generation sequencing workflow for clinical applications is expected to fruitful the demand for DNA Sequencing Market growth over the forecast period.
- In October 2022, Illumina Inc., launched new NovaSeq X Series, ‘NovaSeq X’ and ‘NovaSeq X Plus’ a new production-scale sequencers which enable more powerful, faster and more sustainable sequencing. The new launched technology will enable NovaSeq X Plus to generate about 20,000 of whole genomes per year.
The reduction in cost for installation of sequencing platforms have positive impact on demand for next-generation sequencing technique over the forecast period. Rise in technological advancements in DNA sequencing, and increase in genome mapping programs across the globe is likely to propel DNA Sequencing Market growth.
DNA Sequencing Market market growth:
Here are some trends and factors that were contributing to the growth of the DNA sequencing market as of 2021 to 2023:
- Advancements in Next-Generation Sequencing (NGS): Next-generation sequencing technologies were becoming more accessible and affordable, enabling researchers and healthcare professionals to conduct large-scale genomic studies. These technologies were widely used in various applications, including genomics research, personalized medicine, and cancer diagnostics.
- Rise in Genomic Medicine: The integration of genomics into clinical practice was gaining momentum. DNA sequencing played a crucial role in diagnosing and treating genetic disorders, understanding disease mechanisms, and tailoring treatments to individual patients.
- Pharmaceutical and Biotechnology Applications: Pharmaceutical companies were increasingly using DNA sequencing to accelerate drug discovery and development. This included identifying potential drug targets, understanding the genetics of diseases, and conducting clinical trials with a personalized medicine approach.
- Agricultural and Food Industry: DNA sequencing was being used in agriculture for crop improvement, breeding programs, and food safety testing. The ability to sequence the genomes of plants and animals was helping in developing more resilient and productive crops and ensuring the safety of food products.
- Technological Innovations: Continuous advancements in sequencing technologies, such as the development of long-read sequencing and single-cell sequencing, were expanding the range of applications and improving the accuracy of DNA sequencing.
- Data Analysis and Bioinformatics: The growth of DNA sequencing generated vast amounts of data, requiring sophisticated bioinformatics tools and computational resources for data analysis. Companies specializing in bioinformatics were also experiencing growth.
- Direct-to-Consumer (DTC) Genetic Testing: DTC genetic testing companies were becoming more prevalent, offering consumers insights into their genetic ancestry, health risks, and wellness. This trend was contributing to the overall growth of the DNA sequencing market.
- International Collaborations and Research Initiatives: Collaborations between research institutions, governments, and private companies were driving large-scale genomic research initiatives, further propelling the growth of DNA sequencing.
- COVID-19 Pandemic: The COVID-19 pandemic underscored the importance of rapid and accurate DNA sequencing for virus identification and monitoring. This led to increased investments in sequencing infrastructure and capabilities.
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Scope of the Report:
|Base year for estimation||2022|
|Forecast period||2022 – 2032|
|Market representation||Revenue in USD Billion & CAGR from 2022 to 2032|
|Market Segmentation||By Product Type – Instruments, Consumables (Kits, Reagents), and Others
By Platform – Sanger, Next Generation Sequencing, and Others
By Application – Diagnostics, Personalized Medicine, and Others (Biomarkers, Forensics, and Reproductive Health
By End-user – Hospitals and Healthcare Organizations, Academics and Research Institutions, Pharmaceutical and Biotechnology Companies, and Others
|Regional scope||North America – U.S., Canada
Europe – UK, Germany, Spain, France, Italy, Russia, Rest of Europe
Asia Pacific – Japan, India, China, South Korea, Australia, Rest of Asia-Pacific
Latin America – Brazil, Mexico, Argentina, Rest of Latin America
Middle East & Africa – South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa
|Report coverage||Revenue forecast, company share, competitive landscape, growth factors, and trends|
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- Bio-Rad Laboratories
- F. Hoffmann-La Roche
- Danaher Corporation (Beckman Coulter, Inc.)
- Merck KGaA
- Eurofins Scientific
- Pacific Biosciences of California
- PerkinElmer Inc
- Thermo Fisher Scientific
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