The Global DNA Sequencing Market to Reap $35684.50 Million by 2028

A recent study by Triton Market Research titled 'Global DNA Sequencing Market,' covers the Global Analysis and Forecasts by Product (Instruments & Consumables [Platform {Sanger; NGS (Methyl Sequencing; De Novo Sequencing; Chip Sequencing; Whole-genome Sequencing; Whole-exome Sequencing; Targeted Resequencing; RNA Sequencing)}; Type {Instruments; Consumables}]; Bioinformatics; Sequencing Services); by Application (Forensics; Agriculture & Animal Research; Drug Discovery; Personalized Medicine; Reproductive Health; Diagnostics; Biomarker Discovery; Other Applications); by Technology (Nanopore Sequencing; Single-molecule Real-time Sequencing (SMRT); Sequencing by Ligation (SBL); Pyrosequencing; Chain Termination Sequencing; Ion Semiconductor Sequencing; Sequencing by Synthesis; Other Technologies); by Industry Verticals (Hospitals & Clinics; Biotechnology Companies; Pharmaceutical; Research Centers and Academic & Government Institutes; Other Industry Verticals); and Geography (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa).

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Triton Market Research's report predicts the global DNA sequencing market to exhibit a CAGR of 17.21% in terms of revenue during the forecast years between 2021 and 2028, accumulating a revenue of $35684.50 million by the year 2028.

The growing demand from breeders is one of the primary driving forces of the market. Breeding refers to the imitation of the process of reproduction applied in a clinical setup to produce offspring, generally of plants or animals. DNA sequencing has major applications in breeding, and this is propelling the growth of the market studied. However, concerns regarding standardization and accuracy in diagnostic testing are hindering the growth process.

The market for DNA sequencing is mainly categorized into four main segments, product, application, technology, and industry verticals. The product category is mainly segmented into instruments & consumables, bioinformatics, and sequencing services. Instruments & consumables is further classified into platform and type. Type is then sub-segmented into instruments and consumables. And platform is segmented into sanger and NGS. NGS is further categorized into methyl sequencing, de novo sequencing, chip sequencing, whole-genome sequencing, whole-exome sequencing, targeted resequencing, and RNA sequencing.

According to application, the industry is divided into forensics, agriculture & animal research, drug discovery, personalized medicine, reproductive health, diagnostics, biomarker discovery, and other applications. Whereas, according to technology, it is divided into nanopore sequencing, single-molecule real-time sequencing (SMRT), sequencing by ligation (SBL), pyrosequencing, chain termination sequencing, ion semiconductor sequencing, sequencing by synthesis, and other technologies. Lastly, on the basis of industry verticals, it is segmented into hospitals & clinics, biotechnology companies, pharmaceutical, research centers and academic & government institutes, and other industry verticals.

North America is leading the global market for DNA sequencing at present, and is anticipated to continue its reign in the years to come. The rise in the geriatric population is one of the major factors influencing the growth of this market. This is because, the elderly are more likely to develop several health conditions and diseases, which increases the demand for sequencing. Further, the United States is the major market in the region, and the country boasts of having a number of big players in the industry. This, along with the growing R&D activities carried out by these organizations is positively influencing the market growth.

Perkinelmer Inc, Pacific Biosciences of California Inc, Spiral Genetics Inc, BGI Genomics, Thermo Fisher Scientific Inc, Merck KgaA, Danaher Corporation (Integrated DNA Technologies Inc), Adaptive Biotechnologies Inc, Siemens Healthineers AG, Bio-Rad Laboratories Inc, Illumina Inc, F Hoffmann-La Roche, Agilent Technologies Inc, Eurofins Scientific, and Asuragen Inc are the established players in this market.

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Question & Answer: DNA Sequencing Market

Question 1: What factor is propelling the growth of the DNA sequencing market?
Answer: The growing demand from breeders is one of the primary driving forces of the market. Breeding refers to the imitation of the process of reproduction applied in a clinical setup to produce offspring, generally of plants or animals. DNA sequencing has major applications in breeding, and this is propelling the growth of the market studied.

Question 2: What factors are hindering the DNA sequencing market growth process?
Answer: Concerns regarding standardization and accuracy in diagnostic testing are hindering the growth process.

Question 3: How is the North America region influencing the growth of the DNA sequencing market?
Answer: North America is leading the global market for DNA sequencing at present, and is anticipated to continue its reign in the years to come. The rise in the geriatric population is one of the major factors influencing the growth of this market. This is because, the elderly are more likely to develop several health conditions and diseases, which increases the demand for sequencing.

Further, the United States is the major market in the region, and the country boasts of having a number of big players in the industry. This, along with the growing R&D activities carried out by these organizations is positively influencing the market growth.

Question 4: Which are the established players in the DNA sequencing market?
Answer: Perkinelmer Inc, Pacific Biosciences of California Inc, Spiral Genetics Inc, BGI Genomics, Thermo Fisher Scientific Inc, Merck KgaA, Danaher Corporation (Integrated DNA Technologies Inc), Adaptive Biotechnologies Inc, Siemens Healthineers AG, Bio-Rad Laboratories Inc, Illumina Inc, F Hoffmann-La Roche, Agilent Technologies Inc, Eurofins Scientific, and Asuragen Inc are the established players in this market.

Related Report:
Global CRISPR Market - https://www.tritonmarketresearch.com/reports/crispr-market

The global CRISPR market is likely to observe growth at a CAGR of 23.95% over the considered phase between 2019 and 2028. This market is assessed to garner $5872.4 million worth of revenue by 2028.

The last couple of years have seen a surge in the cases of genetic diseases, in people of all age groups. Other diseases such as thalassemia, hemophilia, Tay Sachs disease, cystic fibrosis, and sickle cell anemia, are also being diagnosed in patients from across the world. This forms a major area for the application of CRISPR technology. The rise in the prevalence of genetic diseases is thus majorly aiding the growth of the studied market.

Also, with the rise in prevalence of chronic diseases, the demand for new & safer therapies to treat these conditions has risen. It calls for solutions to eliminate these diseases at their root. This, in turn, has enhanced the adoption of CRISPR technology by researchers and the medical sector.

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This release was published on openPR.