According to the latest report by IMARC Group, titled “North America DNA Sequencing Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025”, the DNA sequencing market in North America size reached a value of US$ 1.6 Billion in 2019. DNA sequencing is used for identifying the precise sequence of the four nucleotide bases, namely cytosine, adenine, thymine and guanine. It plays a crucial role in mapping out the human genome, as well as helps in various applied research applications. Owing to this, DNA sequencing products are gaining immense preference in the pharmaceutical industry as they assist in understanding complex diseases and, in turn, developing personalized medicines for patients.
Some of the key players being Illumina, Inc. NASDAQ: (ILMN), Thermo Fisher Scientific Inc. NYSE: (TMO), Roche Holdings AG Basel ADR Common Stock OTCMKTS: (RHHBY), Pacific Biosciences of California NASDAQ: (PACB), Beckman Coulter (NYSE:BEC).
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North America represents one of the largest markets for DNA sequencing products due to the significant investments made in the research and development (R&D) of new drugs. For instance, the development of next-generation sequencing (NGS) has enabled the introduction of faster sequencing with higher accuracy at lower costs. Similarly, Illumina, one of the key market players in the field, has launched a system that consists of 10 ultra-high-throughput sequencers, each capable of generating up to 1.8 terabases of data in less than three days. The system can sequence about 18,000 human genomes per year. Some of the other factors facilitating the market growth include the growing geriatric population, the prevalence of several chronic diseases, the presence of prominent drug manufacturers and the availability of skilled professionals. Looking forward, IMARC Group expects the market to reach a value of US$ 3.8 Billion by 2025, registering a CAGR of 15.1% during 2020-2025.
Market Breakup by Application:
- Biomarkers
- Diagnostics
- Reproductive Health
- Forensics
- Personalized Medicine
- Other
- Academic and Government Research Institutes
- Pharmaceutical and Biotechnology Companies
- Hospital and Clinics
- Others
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