DNA Sequencing Market Emerging Trend, Top Companies, Industry Demand, Business Review and Regional Analysis by 2028

The global DNA sequencing market is anticipated to grow at a considerable CAGR of 11.2% during the forecast period (2022-2028).

DNA sequencing is a technical process done in laboratories that are used to determine the exact sequence of bases including A, C, G, and T present in the DNA molecule. It is used by scientists to investigate the functions of genes. The major factor attributing to the growth of the global DNA sequencing market includes the application of DNA sequencing in the diagnostics centers due to the growing diagnostics industry across the globe. According to the National Center for biotechnology information (NCBI), the estimated worth of the global diagnostic market is around $40 billion to $45 billion in 2016. Among these, the major countries with the large size of the diagnostic market are the US, Europe, and Japan with around $19 million, $14 million, and $4 billion respectively representing around 80% of global sales in the diagnostic market.

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The use of the DNA sequencing technique is also increasing in the research & developments activities of the research institutes and companies in the pharmaceutical & biotechnology industry. According to the Global Innovation Index 2020 report by the World Intellectual Property Organization (WIPO), the 4 major sectors holding the largest share in research & development activities include ICT hardware & equipment, pharmaceutical & biotechnology, automobiles, and software. Furthermore, several benefits of DNA sequencing is further increasing the use of this process for personalized medicines in hospitals & healthcare organization, and research institute. The benefits include the precise diagnosis of medical conditions to provide medical treatment or management of symptoms and providing information on the efficacy or adverse effect of the particular drugs.

The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, to stay competitive in the market. For instance, in April 2022, scientists of Quadrum Institue presented the data that demonstrates the advantages of Fire Monkey's high molecular weight (HMW) DNA extraction with DNA sequencing of Oxford Nanopore. The advantage includes the cost-effective complete hybrid assembly of pathogen genomes.

Market Coverage
• The market number available for - 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
o By Type
o By Application
o By End-User

• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World

• Competitive Landscape- Merck & Co. Inc., Thermo Fisher Scientific Inc., Agilent Technologies Inc., Illumina Inc., and F. Hoffmann-La Roche Ltd., among others.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global DNA Sequencing Market Report by Segment

By Type
• Sanger Sequencing
• Next-Generation Sequencing
• Other Sequencing Types

By Application
• Diagnostics
• Drug Research & Developments
• Personalized Medicine
• Others

By End-User
• Hospitals & Healthcare Organization
• Research Institutes
• Pharmaceuticals & Biotechnology Companies

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Orion Market Reports (OMR) endeavors to provide an exclusive blend of qualitative and quantitative market research reports to clients across the globe. Our organization helps both multinational and domestic enterprises to bolster their business by providing in-depth market insights and the most reliable future market trends. Our reports address all the major aspects of the markets providing insights and market outlook to global clients.

This release was published on openPR.