Global DNA Sequencing Market is valued at approximately USD 4.7 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 11.3% over the forecast period 2020-2027. DNA sequencing is a process of identifying or determining the nucleic acid sequence within a DNA molecule. DNA sequencing enables scientists and researchers to sequence genomes and genes. After detecting and analyzing the genes from sequence information, researchers can obtain information concerning mutations that cause disease, thus offering considerable medical information. Also, the emergence of rapid DNA sequencing procedures has greatly accelerated medical and biological research and discover. Further, the use of DNA sequencing has become vital for basic biological research and applied in a wide range of medical fields such as biotechnology, medical diagnosis, virology, biological systematics, and forensic biology, which may contribute to the higher growth of the market worldwide. Furthermore, the rise in number of DNA tests, increasing number of cancer patients, and rapid advancements in sequencing technology and bioinformatics are the few factors responsible for the CAGR of the market during the forecast period. According to Centers for Genetics and Society, more than 26 million individuals have added their DNA tests to commercial ancestry and health databases by the start of year 2019, representing an increase of about 11 million from 2018. While as per the International Agency for Research on Cancer (IARC), globally, there were almost 18.1 million new cases of cancer and is likely to reach almost 27.5 million new cancer cases by the year 2040. Thus, the rise in number of DNA tests and cancer patients are likely to promote the adoption of the DNA sequencing all over the world. However, interpretation of complex data and the dearth of skilled professionals are the major factors limiting the market growth over the forecast period of 2020-2027.
The regional analysis of the global DNA Sequencing market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the early adoption of technologically-advanced products and procedures, along with the presence of a significant number of market vendors in the region. Whereas Asia-Pacific is anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as the rise in prevalence of cancer due to growing geriatric population coupled with rise in awareness and adoption of DNA sequencing solutions in developing countries, such as China and India, would create lucrative growth prospects for the DNA Sequencing market across the Asia-Pacific region.
Major market player included in this report are:
Agilent Technologies Inc.
Thermo Fisher Scientific, Inc.
F. Hoffmann-La Roche Ltd.
Oxford Nanopore Technologies Ltd.
Perkin Elmer, Inc.
Pacific Biosciences of California, Inc.
Bio-Rad Laboratories, Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product & Services:
Third Generation DNA Sequencing
Agrigenomics & Forensics
HLA Typing/Immune System Monitoring
Hospitals & Clinics
Pharmaceutical & Biotechnology Companies
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global DNA Sequencing Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers