Market Research Report
Global Dna Sequencing Market Forecast 2021-2028
|Global Dna Sequencing Market Forecast 2021-2028|
Published: May 24, 2021
Content info: 270 Pages
Delivery time: 2-3 business days
The global DNA sequencing market growth is estimated to progress at a CAGR of 17.05% during the forecast period, 2021-2028. The market growth drivers include prevailing cancer cases, genome mapping programs implementation, increasing need for DNA sequencing in animals & plant reproduction, liquid biopsy applications, and growing R&D in DNA sequencing.
DNA sequencing helps in determining the nucleotide sequence of deoxyribonucleic acid (DNA). It has caused altering impacts in the genomics and molecular biology sectors. Genome mapping programs are on the rise globally. They increase awareness about NGS (Next-Generation Sequencing) and collect real-time sequences. They are also genetic data repositories for the world population. According to a December 2019 article, the GenomeAsia 100K consortium analyzed the genomes of 1739 people. It represented the vast genetic diversity coverage in Asia. It was launched in 2016 to understand the genome diversity of Asian ethnicities. Hosted by Nanyang Technological University, it is a non-profit consortium. At the same time, the market growth restraining factors include social & ethical issues, bioinformatics limitations, lack of skilled professionals, and accuracy concerns in diagnostic testing.
The geographical segmentation for the growth assessment of the global DNA sequencing market includes North America, Asia-Pacific, Europe, and Rest of World. With continuous technological innovations and the growing demand for drug discovery, Asia-Pacific is set to project the highest CAGR by 2028.
The strong competitive rivalry in the market is accredited to the price competition, innovations, and increasing adoption of new technologies. Bio-Rad Laboratories Inc, Asuragen Inc, BGI Genomics, Adaptive Biotechnologies Inc, Agilent Technologies Inc, etc., are among the market's prominent players.