Market Research Future (MRFR) postulates that the global DNA sequencing market is predicted to demonstrate a CAGR of 17.64% during the forecast period (2018-2023). Augmenting requirement for animal breeders is estimated to favor the market growth. DNA sequencing is referred to as a technology where several DNA strands are sequenced through massive parallelization. It involves both Sanger’s and non-Sanger’s method of sequencing. The arrangement of the four nucleotide bases such as Cytosine, Guanine, Thymine, and Adenine can be identified with the help of several sequencing techniques available in the market. DNA sequencing comprises information associated with the IQ level of the human beings and genetically determined illness.
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Market Potential and Pitfalls
The accelerating adoption of precision medicine along with the augmenting use of applications such as forensic biology, biotechnology, molecular biology, and virology are considered to foster the DNA sequencing market throughout the assessment period. With the increasing investment in research and development activities, the market is anticipated to gain prominence across the globe. The enzymic method for DNA sequencing has been extensively used for genomic research. As exact results were obtained during the process, the demand for DNA sequencing has increased to a large extent. The demand has further triggered the development of the second-generation sequencing method. Additional factors gearing up the market growth are the rising requirement for animal breeders and plant production, rising R&D activities, technological advancements, growth in the liquid biopsy applications, and increasing incidences of cancer. Moreover, increased use of genome mapping programs is predicted to boost the market growth. The increasing demand for inexpensive, accurate, and fast DNA sequencing data has resulted in the advent of a new generation of sequencing technologies. Continuous changes in technologies coupled with the creation of new opportunities are some of the other factors likely to attract market players to the industry, thereby resulting in the market to expand.
On the contrary, lack of reimbursement policies in several nations is predicted to act as a top barrier hindering the market growth throughout the appraisal period. Moreover, concerns associated with standardization, accuracy, and legal and ethical limitations of DNA sequencing are estimated to vitiate the market growth globally.
The prominent players operating the global DNA sequencing market are Myriad Genetics, Eppendorf, Hamilton Thorne Biosciences, General Electric Company, Life Technologies, Roche Holdings AG, Siemens Healthineers GmbH, Agilent Technologies Inc., Perkin Elmer, Beckman Coulter, Genia Corporation, Bayer Corporation, Siemens AG, Koninklijke Philips N.V., Tecan, Illumina, Deep Genomics Inc., Illumina, Oxford Nanopore Technologies, Pacific Biosciences, Johnson & Johnson, Thermo Scientific, and others.
Global DNA Sequencing Market: Segmental Analysis
The global DNA sequencing market has been segmented on the basis of product, type, application, technology, and end-users.
By mode of type, the global DNA sequencing market has been segmented into workflow products and instruments and consumables services.
By mode of product, the global DNA sequencing market has been segmented into sequencing instruments and consumables and sequencing services. Among these, the sequencing services segment is likely to witness the major share owing to its high demand globally. Due to the long-time duration taken to complete the sequencing and high-cost of sequencing instruments are encouraging the pharmaceutical companies to outsource DNA sequencing services, which is contributing to the growth of the segment.
By mode of technology, the global DNA sequencing market has been segmented into pyrosequencing, semiconductor sequencing, single-molecule real-time sequencing (SMRT), sequencing by synthesis, sequencing by ligation (SBL), and others.
By mode of application, the global DNA sequencing market has been segmented into agriculture and animal research, diagnostics, personalized medicine, biomarker discovery, drug discovery, and others.
By mode of end-users, the global DNA sequencing market has been segmented into biotechnology and pharmaceutical companies, research centers and government institutes and academia, clinics and hospitals, and others.
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Geographically, the DNA sequencing market span across regions namely, Europe, North America, Asia-Pacific, and the Middle East and Africa.
Considering the global scenario, the North American region is predicted to dominate the DNA sequencing market and is likely to retain its dominance in the coming years. The growth is credited to the increasing incidences of cancer among the geriatric population, the presence of market giants, and developed innovation ecology in this region.
The European region is considered to experience a significant growth rate throughout the appraisal period owing to the growing incidences of the geriatric population suffering from cancer, efficient reimbursement policies, and sedentary lifestyles.
The Asia Pacific region is presumed to show high potential in the global market due to increasing awareness regarding DNA sequencing and its applications. The region is also predicted to experience a fast growth rate owing to the extensive use of DNA sequencing technologies and its development.
On the other hand, the Middle East & Africa is likely to occupy the lowest market share owing to the poor medical facilities and lack of advanced technology in the developing nations in this region.
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