DNA Diagnostics Market to Reach at 9.8% CAGR to Generates $19 Billion by 2025
Pune, Maharashtra, India, February 8 2021 (Wiredrelease) Allied Analytics –:UPDATE AVAILABLE ON-DEMAND
Allied Market Research published a new report, titled, “global market is expected to garner $19 billion by 2025, registering a CAGR of 9.8% during the period 2017-2025. The potential to provide accurate diagnosis and cost effectiveness over alternative diagnostic techniques are factors which supplement the growth of the DNA diagnostics market.
The latest figures suggest that approximately 8.2 million people are living with cancer and 39 million with HIV. These numbers are set to increase consistently; however, advanced automated DNA diagnostics technologies such as next generation sequencing could play a crucial role in diagnosing and curbing these diseases. “Next generation sequencing has had a significant impact on diagnostic procedures and is set to gain momentum in the foreseeable future.”, states AMR analyst Sharayu Dhabale. “Next generation sequencing not only reduces the cost of sequencing, but increases the throughput as well; it could thus help in bridging the gaps in traditional and personalized medications”, adds the analyst. This makes it a promising investment opportunity for key players. Illumina Inc’s new cost-effective genome machine HiSeq X Ten -the world’s first DNA crunching supercomputer- is leading to a significant reduction in the price of sequencing a human genome.
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• Due to the global pandemic all over the world, the medical devices manufacturers are majorly focusing on essential medical devices production including ventilators and diagnostics.
• However, due to the precautionary measures taken by governments in various regions, the supply chain has been hampered. Which may result in shortage of devices in certain locations.
• Food and Drugs Administration (FDA), on the other hand, shared a COVID-19 guidance with medical device manufacturers to notify the agency about changes that could affect availability of their products.
Market analysis in terms of geography suggests that developed economies would retain their dominance in the market. This could be attributed to the early adoption of the technology due to potential reduction offered by DNA diagnostic to their high healthcare expenditure. However, developing economies, such as in Asia-Pacific, will significantly influence the DNA diagnostic market during the extended forecast period (2020-2025), largely due to potential growth in per capita healthcare expenditure and very large undiagnosed population.
An in-depth analysis of various regions would provide a clear understanding of current and future trends so that companies can make region specific plans
The report studies the application of next generation sequencing technology and biotechnology and their impact on the DNA diagnostics market
A comprehensive analysis of the factors that drive and restrict the growth of the DNA diagnostics market is providedKey regulatory guidelines in various regions which impact the DNA diagnostics market are critically examined
A quantitative analysis of the current market and estimations through 2013-2020 are provided to showcase the financial caliber of the DNA diagnostics market
Detailed analysis of the Asia-pacific region provides insights that would enable companies to plan their business move strategically.
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Key companies profiled in the report are Bayer Diagnostic, Sysmex, Roche Diagnostics, Abbott laboratories, Cephide, Gene-probe Inc., Illumina, Inc., Thermo Fisher Scientific, Bio-Rad Laboratories, Johnson and Johnson, and Novartis.
Several companies operating in this region are seeking novel technologies to gain traction in the competitive market. Product launch is the key strategy adopted by companies operating in this market. These companies are developing novel products for the treatment of various diseases such as infectious diseases, cancer, prenatal diagnosis, pre-implantation diagnostics and myogenic disorder.
To View the complete report, visit the website at http://www.alliedmarketresearch.com/DNA-diagnostics-market
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