Picture of Global DNA Sequencing Market Forecast 2017-2023

Global DNA Sequencing Market Forecast 2017-2023

August 2017

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$2,500.00

The market for global DNA sequencing is estimated to grow from $6791 Million in 2016 to $27290 Million by 2023, at a CAGR of 22.75% between 2017 and 2023. The base year is 2016 for the study and the forecast period is from 2017 and 2023. Continuous research and development have been the major source of growth for this market. Also, the emergence of new players in the market has intensified the competition leading to the development of better and efficient techniques. With the number of cancer cases going up, it is acting as a booster for DNA sequencing market.

The end users can be classified as research centers and academic & government institutes; hospitals & clinics; pharmaceutical & biotechnology companies; and, other end users. Research centers and academic & government institutes dominate the global DNA sequencing market. The DNA sequencing technique has been adapted by research centers and a specific treatment is being developed for various diseases. Human Genome Project is one of the milestone researchers and has influenced the adoption of DNA sequencing. Pharmaceutical & biotechnology companies are expected to have highest CAGR during the forecast period. These companies are continuously developing drugs which affect the cancer cells and pathogens; but, which do not affect or damage healthy body cells through the application of DNA sequencing technologies.

Global DNA Sequencing Market Infographics Inkwood research

Based on applications DNA sequencing is bifurcated as diagnostic, drug discovery, biomarker discovery, personalized medicine and various other applications. The diagnostic application has the largest market share. A comprehensive investigation of the genetics of human beings and human diseases is possible due to advancement in DNA sequencing technology. Enhanced diagnostic classification of various diseases is possible through sequencing of exomes, genomes, or transcriptomes of diseases and healthy cells in patients. Human genome project success has opened gated to various new drug development and discovery through DNA sequencing. The DNA sequencing technique has played a major role in the field of agriculture. The productivity and resistance of food plants again pests and bacteria have been increased through sequencing and mapping of genomes in DNA.

North America dominates the global DNA sequencing market followed by Europe, APAC, and Rest of World. North America dominance is majorly due to the presence of prominent companies and also due to growing geriatric population. The prevalence rate of various cancers is very high in the United States which is also a reason for the growth of the market in North America. Asia Pacific is expected to the fastest growing region with highest CAGR. Prevalence of diseases like diabetes and peripheral diseases in countries like China and India is increasing and this has led to an increase in demand for DNA sequencing technology. India holds the largest market for animal breeding and with improvement in the genetics of animals; it is fuelling the growth of the market.

Figure: Global Market By Geography (%) in 2016

Increasing breeder’s requirement, emerging and applied markets in DNA sequencing, Research, and development, increasing the prevalence of cancer cases, entry of new market players, conferences, and workshops are some of the major drivers boosting the growth of global DNA sequencing market. The DNA sequencing market has seen an increase in a number of market players though they face a challenge in commercializing their sequencing tools, many research and government facilities are supporting these technologies so that new market players get an equal opportunity for mounting their business in the market.

Illumina, Thermo Fisher Scientific, Roche Diagnostics, Agilent Technologies, Adaptive Biotechnologies, and WaferGen Bio-Systems are some key players in the global market. These companies deploy strategies such as the launch of novel platforms that are faster, smaller with respect to size, and less expensive in order to improve their market presence. Adaptive Biotechnologies acquisition of Sequenta is expected to expand their use of novel immune-sequencing products for researchers.