Chicago, July 24, 2024 (GLOBE NEWSWIRE) -- The "DNA Diagnostics Market Size, Share & Trends by Product (Instruments, Reagents & Kits, Services & Software), Technology (PCR, Mass Spectroscopy, Microarrays), Application (Infectious Disease (Hepatitis, HIV, HPV), Oncology), Specimen (Blood, Urine) - Global Forecast to 2029" report highlights substantial growth projections. It anticipates the market to escalate from $13.3 billion in 2024 to $21.2 billion by 2029, at a notable CAGR of 9.7%. Growth in the DNA diagnostics market is primarily driven by technological improvements in the DNA diagnostics industry and the growing need for personalized treatment and early disease diagnosis in developing nations. Increased investments by healthcare-based companies are also significantly contributing to market growth. The rising focus on R&D and increased funding by healthcare-based companies, along with government initiatives and financial incentives, provide growth opportunities in the DNA diagnostics market by enabling companies to invest in advanced diagnostic technologies. Leading players like Abbott and F. Hoffmann-La Roche Ltd. are investing significantly in R&D. However, ethical and privacy concerns, such as the appropriate use of genetic tests and data privacy, present challenges to the market. Advancements in bioinformatics and artificial intelligence are revolutionizing DNA diagnostics by enabling more efficient, accurate, and accessible testing methods, enhancing personalized medicine.
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ILLUMINA INC. (US): Leader in DNA Diagnostics
Illumina Inc. holds the largest share of the DNA diagnostics market in 2023. As a leading provider of sequencing and array-based solutions for genetic and genomic analysis, Illumina develops, manufactures, and markets integrated systems to analyze genetic variations and biological functions. Its portfolio includes integrated systems, consumables, and analysis tools that simplify genetic analysis. The company also offers software and informatics platforms, including cloud-based computational tools for sequencing and array-based systems. Operating through two major business segments, Core Illumina and GRAIL, both cater to the diagnostics market. Illumina's substantial investment in research and development drives continuous innovation, ensuring its leadership in the rapidly evolving field of genomics.
Danaher Corporation (US): Innovator in Molecular Diagnostics
Danaher Corporation held the second-largest share of the DNA diagnostics market in 2023. It manufactures and commercializes medical, industrial, and commercial products and services, operating through three business segments: Life Sciences, Diagnostics, and Biotechnology. The Diagnostics segment offers a wide range of molecular-based analytical instruments, reagents, consumables, software, and services used for DNA tests. Danaher's extensive network of approximately 242 manufacturing and distribution facilities worldwide is a pivotal cornerstone of the company's success.
F. HOFFMANN-LA ROCHE LTD. (Switzerland): Trusted Provider in DNA Diagnostics
F. Hoffmann-La Roche Ltd. held the third-largest share of the DNA diagnostics market in 2023. As an established and research-driven healthcare firm, it operates through two business segments: the Pharmaceutical Division and the Diagnostics Division. The company offers numerous diagnostic products for HPV infection, hepatitis, HIV, diabetes, blood coagulation, and fertility, which are prominently used by hospitals, reference laboratories, patients, researchers, and physicians. Roche operates in the DNA diagnostics market through its diagnostics division. The company's commitment to innovation and quality has solidified its reputation as a trusted provider in the DNA diagnostics field, continually driving advancements and setting industry standards.
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Reagents & Kits Dominate Offering Segment in DNA Diagnostics Market
By offering, the global DNA diagnostics market is segmented into reagents & kits, instruments, and services & software. In 2023, the reagents & kits segment dominated the market with the largest share. The requirement of reagents & kits in large numbers compared to instruments is the main factor contributing to the large share and high growth rate of this segment. Unlike instruments, reagents & kits require repeat purchases, which results in their stable demand among end users.
PCR Leads Technology Segment in DNA Diagnostics Market
By technology, the DNA diagnostics market is broadly segmented into polymerase chain reaction (PCR), microarrays, in situ hybridization, sequencing technology, mass spectroscopy, and other technologies. In 2023, the PCR segment accounted for the largest share of the market. This large share can be attributed to the growing use of PCR in genomics, the increasing automation of PCR instruments, and the emergence of advanced technologies such as qPCR.
Blood, Serum, and Plasma Lead Specimen Segment in DNA Diagnostics Market
By specimen, the DNA diagnostics market is segmented into blood, serum, and plasma; urine; and other specimens. In 2023, the blood, serum, and plasma segment accounted for the largest share of the market. The large share of this segment can be attributed to the increasing prevalence of infectious diseases, coupled with advancements in DNA diagnostic technologies. The ability to accurately diagnose infections, track disease outbreaks, guide treatment decisions, and implement public health measures has led to the widespread adoption of blood-based DNA diagnostics.
Infectious Disease Diagnostics Lead Application Segment in DNA Diagnostics Market
By application, the DNA diagnostics market is segmented into infectious disease diagnostics, oncology testing, prenatal, pre-implantation, myogenic disorders, and other applications. In 2023, the infectious disease diagnostics segment held the largest share of the market globally. The development of sophisticated assays for diagnosing different medical conditions and illnesses, the rise in the incidence of infectious diseases, and increasing awareness of the effective application of DNA diagnostic products and technologies to prevent the spread of infectious diseases are all factors contributing to the segment's large market share.
Diagnostic Laboratories Lead End-User Segment in DNA Diagnostics Market
Regarding end users, the DNA diagnostics market is fragmented into diagnostic laboratories, hospitals and clinics, and other end users. In 2023, the diagnostic laboratories segment accounted for the largest market share. This can be attributed to factors such as increasing test volumes for infectious diseases and cancer and strengthening healthcare infrastructures for efficient disease diagnosis and treatment.
North America Leads Regional Segment in DNA Diagnostics Market
The DNA diagnostics market is segmented by region into North America, Europe, the Asia Pacific, Latin America, the Middle East & Africa, and GCC countries. In 2023, North America accounted for the largest market share, followed by Europe, Asia Pacific, Latin America, the Middle East & Africa, and GCC countries. The significant share of North America is attributed to the increasing prevalence of infectious diseases and cancer, rising healthcare spending, and the highly developed healthcare system in the US and Canada.
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