DNA Sequencing Market is estimated to expand at a CAGR of 10.2% by 2032, owing to growing utilization of personal genomics | insightSLICE
The market for DNA Sequencing was valued at US$ 6.1 billion in 2021 and is projected to grow at a CAGR of 10.2% through 2032.
The procedure used to determine a DNA’s nucleotide sequence is known as DNA sequencing. It also refers to the method of figuring out the placement of the four “Bases” (Adenine, Guanine, Cytosine, and Thymine), which are crucial in the formation of DNA structure.
Numerous techniques can be used to perform DNA sequencing. Sanger sequencing and Next Generation sequencing are the two main methods used to sequence DNA.
The Sanger method only sequences one DNA fragment at a time, whereas the Next Generation Sequencing method can read millions of DNA fragments simultaneously.
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Global DNA Sequencing Market Key Segments:
- Devices & Equipment
By Sequencing type
- Sanger Sequencing
- Next-Generation Sequencing
- Whole Genome Sequencing
- Whole Exome Sequencing
- Targeted Sequencing & Resequencing
- Third Generation Sequencing
- Single-Molecule Real-Time Sequencing (SMRT)
- Nanopore Sequencing
- Hospitals & clinics
- Academic research
- Clinical research facilities
- Pharmaceutical enterprises
- Biotechnology enterprises
- Reproductive Health
- Clinical Investigation (drug development, epidemiology prevention, etc.)
- Consumer genomics
- North America
- United States
- Rest of North America
- United Kingdom
- Italy France
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
The key players of the Global DNA Sequencing Market are:
Major companies dominating the global DNA sequencing market include Agilent Technologies, Inc., BGI., Bio-Rad Laboratories, Inc., Eurofins Scientific, F. Hoffmann-La Roche Ltd., Illumina, Inc., Macrogen, Inc., Myriad Genetics, Oxford Nanopore Technologies Ltd., Pacific Biosciences of California, Inc., Perkin Elmer, Inc., PierianDx, Thermo Fisher Scientific, Inc., QIAGEN, and Intrexon Bioinformatics Germany GmbH among the others.
All major companies are looking forward to developing the database of human DNA and monetizing the same by partnering with governments and other private entities that would need the database for their business operations.
This is the primary distinction between these two approaches. Numerous nucleotide variants connected to particular hereditary diseases have been discovered thanks to DNA sequencing, which aids in identifying the characteristics of diseases and their treatment in advance.
Pharmacogenomics also heavily relies on DNA sequencing. Pharmacogenomics is the study of how genes influence a person’s capacity to respond to medications.
Pharmacogenomics research is required to ascertain which medication will give patients the best results. DNA sequencing has several applications outside of the medical field, including forensic science and ancestry determination.
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DNA Sequencing Growth Can be Attributed to Forensic Science:
The forensic area makes use of a technology called Next Generation Sequencing. By evaluating and supplying a vast quantity of information (autosomes, mitochondrial chromosomes, etc.) about a suspect, next-generation sequencing techniques aid in the resolution of complex and challenging criminal cases.
NSG supports the examination of unidentified remains, which aids in human identification and establishes a connection to related family members, as well as the recovery of mitochondrial DNA from samples gathered at crime scenes.
Since crime is on the rise, forensics is becoming increasingly important in concluding criminal investigations. For instance, according to research by the Council on Criminal Justice, the number of homicides in the United States jumped by 53% between June and August.
According to a preliminary FBI assessment, the percentage of cases rose by 15% in the first half of 2020. In the ensuing few years, these variables would boost the demand for DNA sequencing in forensic science.
Growing Utilization of Personal Genomics:
Personal genomics is the study of an individual’s genome, including its sequencing and analysis. Future Generation Individuals’ genotypes can be ascertained using partial or complete sequencing via the use of genotyping techniques.
Personal genomics is crucial for forecasting a person’s likelihood of contracting an illness and how their body will respond to a certain medicine. This would make it easier for the doctors to give the patient the right medication.
People can have the chance to discover their ancestry and lifestyle using personal genome sequencing data. Additionally, automated DNA sequencing has lowered sequencing costs and speeded up results.
Common individuals can purchase it for about US$1000. This cost is predicted to decrease considerably further during the next few years. The general public’s desire for DNA sequencing would rise as a result.
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Increase in Healthcare Costs:
Increased health spending will benefit the DNA sequencing business in both developed and emerging nations. An increase in healthcare R&D initiatives will also help the market for DNA sequencing expand. According to a report by CMS, the United States spent 3.8 trillion dollars on healthcare in 2019.
According to the estimate, expenditures would total $4 trillion in 2020 and $6 trillion in 2028. Developing countries in the Asia-Pacific area are also investing more in healthcare.
For instance, China continues to boost its expenditures on research and development, supporting the life sciences company in continuing the clinical studies that have the potential to fundamentally alter the genetics sector. China for instance spent up to US$ 322 billion on science and technology in 2019, a 12.5% increase over the previous year.
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