The Global DNA Sequencing Market was valued at USD 4.8 Billion in 2021, and the global DNA sequencing industry is anticipated to reach a value of USD 12.6 Billion by 2028 at a CAGR (Compound Annual Growth Rate) of 17.5% over the forecast period.
The Global DNA Sequencing Market was valued at USD 4.8 Billion in 2021, and the global DNA sequencing industry is anticipated to reach a value of USD 12.6 Billion by 2028 at a CAGR (Compound Annual Growth Rate) of 17.5% over the forecast period.
DNA Sequencing Market Overview
The rapid development of DNA sequencing technology is providing scientists with the ability to generate unprecedented amounts of information about genetic variation and gene expression profiles. DNA sequencing technology is likely to allow scientists to achieve correct sequencing of the entire human genome in just a few years. This technology will become a routine tool for clinicians and scientists. Numerous sequencing platforms currently in development have the potential to introduce further advances in resolution and throughput. Massively parallel sequencing technologies are currently transforming almost all areas of genetics, and the field of pharmacogenomics will be no exception. One of the most prominent applications of new sequencing technologies in the field of pharmacogenomics is the discovery of new genetic variants that may influence drug response.
High-throughput sequencing is one more name for next-generation sequencing. NGS authorizes fast base pair sequencing of DNA samples. NGS is promoting drug development and paving the way for future personalized clinical diagnostics, medicine, and genetic illnesses. Furthermore, next-generation sequencing (NGS) is a massively parallel sequencing method that is capable of determining the sequence of nucleotides in a complete genome with ultra-high throughput, rapid speed, and scalability.
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DNA Sequencing Market Drivers
- Rapid advances in bioinformatics and sequencing technology have made it possible to identify DNA differences. These progressions also determine variants associated with increased disease risk.
- With the widespread application of whole-genome sequencing (WGS) and next-generation sequencing (NGS), a large array of genes can be tested simultaneously on a single diagnostic platform, increasing the utility of DNA sequencing in clinical diagnosis applications.
- Individually targeted sequencing of tumors enhances the identification of mutations and identifies cancer targets or pathways for which pharmacological treatments are expanded.
- The emergence of global projects incorporating NGS protocols leads to new fundamental knowledge about oncology precision medicine.
DNA Sequencing Market Segmentation
- Product (Consumables, Instruments, Services)
- Technology (Sanger Sequencing, Third Generation DNA Sequencing, Next-Generation Sequencing)
- Application (Oncology, Clinical Investigation, Forensics & Agri-Genomics, HLA Typing, Reproductive Health, Other Applications)
- End-Use (Hospitals & Clinics, Clinical Research, Biotechnology & Pharmaceutical Companies, Academic Research, Other End-Uses)
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DNA Sequencing Market Restraints
- The machines used in a different phases of DNA sequencing are found to be costly. The National Human Genome Research Institute (NHGRI) evaluated the total cost of the process to be around USD 300 million. This may hinder DNA sequencing, thereby hampering its market growth.
- Professional knowledge in DNA sequencing is not universally available. Thus, finding specific DNA sequencing methods and products takes longer, thus hampering the DNA sequencing market growth.
- Genetic data privacy is a major patient concern, which hinders DNA sequencing market growth. As per a study by NCBI, only 10% of biopharmaceutical companies fully anonymize their data. Non-anonymization of data by such companies may lead to exploitation and data theft by different companies, which may hinder the DNA sequencing market growth.
DNA Sequencing Market Regional Analysis
North America dominated the DNA Sequencing market and accounted for the largest revenue share. North America holds the leading market share for DNA sequencing due to continuous technological developments by key players, high investment in R&D, and availability of technologically advanced healthcare infrastructure. The presence of many government initiatives in Canada and the US supports drug development and research into cancer treatments.
In Asia Pacific, the DNA sequencing market is likely to witness a lucrative growth rate during the forecast period 2022-2028. Strategic initiatives undertaken by international companies to expand their presence due to a high customer base are likely to create a number of opportunities for regional growth.
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