New York, Dec. 11, 2020 (GLOBE NEWSWIRE) -- The global DNA Sequencing Market is forecast to reach USD 11.28 Billion by 2027, according to a new report by Reports and Data. The market for DNA sequencing is driven by the growth in breeders for plant and animal production, advancement in technology, growing incidence of cancer, and an increase in R&D activities.
The rise in the prevalence of cancer is boosting the DNA sequencing market, encouraged by the growing use of genome mapping programs across the globe. However, concerns about accuracy and standardization as well as ethical and legal limitations associated with DNA Sequencing may hinder the market growth.
The surge in the attention given to next generation sequencing is due to the ongoing quantum leaps in bioinformatics, microfluidics, imaging, and nanotechnology. DNA sequencing has brought about a paradigm shift in genomic and proteomic research, as it is highly precise and high-throughput technology.
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The COVID-19 impact:
The onset of Covid-19 has influenced industrial activities worldwide. The virus led to the implementation of lockdown, which disrupted economies across the globe while the healthcare sector witnessed a collapse in several countries. However, the DNA sequencing industry is witnessing a positive demand due to its application in the development of drugs and treatments. Increased usage of technology for the development of advanced therapies will have a positive impact on the market.
Further key findings from the report suggest
- DNA Sequencing Services segment faces various challenges such as multiple hairpin loops and uneven base distributions. The segment provides excellent customer service, rapid turnaround time, and technical support, which will propel the growth of the market.
- NGS assays have become an integral process in several areas of clinical diagnostics, which in turn is driving the segment for next-generation sequencing. The all-inclusive approach made possible by next-generation sequencing assays limits the time required to identify a condition, compared to sequential molecular tests, resulting in improved health outcome.
- Various academic research institutes has collaborated with key market players such as Illumina and Pacific Bioscience to offer DNA sequencing services for researchers. In their transition from investigational research to clinical diagnostics, the widespread adoption of this technology, along with improving capabilities, has helped.
- Over the forecast period, the Asia Pacific market is expected to expand at a lucrative pace. The expected growth can be attributed to Asian businesses as well as government bodies striving in this region to improve their DNA sequencing industry and generate revenue.
- Key participants include Agilent Technologies, Thermo Fisher Scientific, Inc., QIAGEN, Perkin Elmer, Inc., Illumina, Inc., Macrogen, Inc., Oxford Nanopore Technologies, F. Hoffmann-La Roche Ltd., Pacific Biosciences of California, Inc., and Bio-Rad Laboratories, Inc., among others.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/dna-sequencing-market
For the purpose of this report, Reports and Data has segmented into the Global DNA Sequencing Market on the basis of product and services, technology, application, end-user, and region:
- Product and Services Outlook (Revenue, USD Billion; 2017-2027)
- Consumables
- Instruments
- Services
- Technology Outlook (Revenue, USD Billion; 2017-2027)
- Next-Generation Sequencing
- Whole Genome Sequencing
- Whole Exome Sequencing
- Targeted Sequencing & Resequencing
- Sanger Sequencing
- Third-Generation Sequencing
- Single-molecule real-time sequencing (SMRT)
- Nanopore sequencing
- Next-Generation Sequencing
- Application Outlook (Revenue, USD Billion; 2017-2027)
- Reproductive Health
- Oncology
- Agrigenomics & Forensics
- Clinical Investigation
- Metagenomics, Epidemiology & Drug Development
- HLA Typing/Immune System Monitoring
- Consumer Genomics
- Others
- End-User Outlook (Revenue, USD Billion; 2017-2027)
- Pharmaceutical & Biotechnology Companies
- Hospitals and Clinics
- Clinical Research
- Academic Research
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- Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Rest of APAC
- MEA
- Saudi Arabia
- UAE
- Rest of MEA
- Latin America
- Brazil
- Rest of LATAM
- North America
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