DNA Sequencing Market Research Report: By Type (Workflow Products and Others), Product (Sequencing Services and Others), Technology (Semiconductor Sequencing and Others), Application (Diagnostics and Others), End- Forecast Till 2027
Market Synopsis
According to the analysis conducted by Market Research Future (MRFR), the global DNA sequencing market is projected to acquire a significant market value, thriving at a CAGR of 17.64% during the forecast period from 2018 to 2023. The growing applications of DNA in biotechnology, virology, forensic biology, and molecular biology is estimated to be the most significant factor driving the global DNA sequencing market 2020. Further, projects such as the human genome and the increasing adoption of genetics for livestock and agriculture research is likely to create a conducive environment for lucrative opportunities. In addition, benefits such as low cost, accuracy, quick result, and precise results are other factors that are likely to accelerate the market significantly. Also, the rising technological development in DNA sequencing, along with the increased R&D investment, is further estimated to stimulate the global market.
On the contrary, concerns related to public health and safety is likely to pose a hurdle for market growth. Further, lack of expertise, expensive equipment, and ethical issues, algorithmic challenges are projected to be other significant factors obstructing market growth. However, factors like personal genomics and personalized medicines, digital storage of digital DNA is likely to counter the impeding factors.
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Market Segmentation
The segment analysis of the global DNA sequencing market is done by a process, type, technology, technique, applications, and end-user.
The process-based segments of the global DNA sequencing market are sample preparation, sequencing, data analysis, and others.
The type-based segments of the global DNA sequencing market are workflow products and instruments and consumables services.
The technology-based segments of the global DNA sequencing market are chain terminator DNA sequencing, next-generation DNA sequencing, and others.
The technique-based segments of the global DNA sequencing market are Nanopore sequencing pyro-sequencing, ion semiconductor sequencing, synthesis sequencing (SBS), single-molecule real time sequencing (SMRT), ligation sequencing, chain termination sequencing, and others.
The applications-based segments of the global DNA sequencing market are drug discovery, diagnostics, precision medicine, agriculture research, livestock research, and others.
The end-user based segments of the global DNA sequencing market are forensics, hospitals and clinics, genomics and livestock’s, pharmaceutical and biotechnology industry academics and research institutes, and others.
Regional Analysis
Based on the region, the global DNA sequencing market is segmented into the Americas, Asia-Pacific Europe, and the Middle East and Africa. According to the analysis, the global market is estimated to be dominated by the Americas. The most significant factor responsible for the regional growth of the market is the increasing incidence of cancer. Further, the presence of established players is projected to drive the market significantly. Besides, the presence of skilled professionals and the increasing innovation in technology is projected to accelerate the regional market growth.
Europe is projected to acquire the second position owing to the rise in the geriatric population. Countries like the U.K, Germany, and France are anticipated to make the most crucial participation in the regional market.
The APAC region is predicted to be the fastest-growing market at a global front. The emerging countries like India, China, and Japan are projected to make the most substantial contribution to enhance market expansion. Further, the increasing initiatives taken by the government are further likely to propel the regional market.
The MEA region is anticipated to acquire the least market share owing to the presence of underdeveloped economies. However, the growing awareness about health, its application, and its benefits is estimated to promote DNA sequencing in the region.
Key Players
The renowned players of the global DNA sequencing market are Roche Holdings AG, Perkin Elmer, Siemens AG, Agilent Technologies Inc., Illumina, Genia Corporation, Koninklijke Philips N.V., Oxford Nanopore technologies, and Pacific Biosciences.
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