The genome sequencing market Exhibit a Remarkable CAGR 16.2% Size, Share, Trends, Key Drivers, Demand, Opportunity Analysis and Competitive Outlook

Data Bridge Market Research analyses that the genome sequencing market, which was USD 16,716.6 million in 2022, would rise to USD 55,564.7 million by 2030 and is expected to undergo a CAGR of 16.2% during the forecast period 2023 to 2030.

Market Overview

Genome sequencing is the process of mapping and sequencing the unique DNA of any particular person. The genome states the entire blueprint of a person's human body. Genome sequencing helps detect important differences in the genes, which are a bundle of DNA, which can lead to a disease or increase the likelihood of disease. One most commonly used targeted sequencing is to look for single nucleotide polymorphisms (SNPs).

Explore Further Details about This Research Genome Sequencing Market Report https://www.databridgemarketresearch.com/reports/global-genome-sequencing-market

Global Genome Sequencing Market Dynamics

Drivers

Increasing Cases of Cancer

The growing incidence of inherited cancers is anticipated to create a high demand for cancer genomics. The major understanding of the human genome has mainly focused on using numerous gene therapies to treat cancers by using modern gene editing techniques such as CRISPR-Cas gene technology. For instance, a group of researchers at the University of California developed the applications of precision genome editing agents for managing inherited retinal diseases (IRDs) in 2022. Thus, this factor boosts market growth.

Increasing Number of Collaborations between Market Players

A growing number of joint ventures and partnerships among major market players are also anticipated to have a major impact on market growth. For instance, Illumina, Inc., and Allegheny Health Network entered into a collaboration for effective evaluation of the impact of in-house Comprehensive Genomic Profiling (CGP) to leverage patient care in June 2022. Thus, this factor boosts market growth.

Opportunities

Growing Rate of Awareness Programs

Several genomic surveillance programs were launched in numerous countries to understand the dynamics of genomic sequencing and effective preventive measures. For instance, the Indian SARS-CoV-2 Genomics Consortium (INSACOG) was established by the combined efforts of the Ministry of Health, Department of Biotechnology (DBT), and ICMR to screen the genomic variations in the SARS-CoV-2 by sequencing technologies in December 2020. Thus, this factor boosts market growth.  

Increasing Demand for Biomarker Discovery

Scientists worldwide are identifying novel biomarkers that could show a disease condition such as a specific type of cancer. For instance, researchers at the University of Cincinnati published their research on biomarkers in 2022 that could predict breast cancer progression and, at the same time, be potential targets for several new treatments. They discovered that the oncogenes known as Ron and DEK could regulate certain metabolites that increase the growth of cancer cells.

Some of the major players operating in the genome sequencing market are:

Abbott (U.S.)
BioMérieux (France)
B.D. (U.S.)
Danaher (U.S.
Thermo Fisher Scientific Inc., (U.S.)
Siemens (Germany)
Agilent Technologies, Inc, (U.S.)
Merck KGaA (Germany)
Illumina Inc. (U.S.)
QIAGEN (Germany)
Bio-Rad Laboratories, Inc. (U.S.)
Eurofins Scientific (Luxembourg)
Danaher (U.S.)
Oxford Nanopore Technologies plc (U.K.).
F. Hoffmann-La Roche Ltd (Switzerland)
BGI (U.S.), General Electric (U.S.)
LI-COR, Inc (U.S.).
Siemens (U.S.)
PerkinElmer, Inc. (U.S.).
Macrogen, Inc (South Korea)
BIONEER CORPORATION (South Korea)

Key questions answered in the Genome Sequencing Market are: 

What is Genome Sequencing Market?
What was the Genome Sequencing Market size in 2022?
What are the different segments of the Genome Sequencing Market?
What growth strategies are the players considering to increase their presence in Genome Sequencing Market?
What are the upcoming industry applications and trends for the Genome Sequencing Market?
What are the recent industry trends that can be implemented to generate additional revenue streams for the Genome Sequencing Market?
What major challenges could the Genome Sequencing Market face in the future?
What segments are covered in the Genome Sequencing Market?
Who are the leading companies and what are their portfolios in Genome Sequencing Market?
What segments are covered in the Genome Sequencing Market?
Who are the key players in the Genome Sequencing Market?

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