WELLESLEY, Mass., May 03, 2018 (GLOBE NEWSWIRE) -- The Chinese DNA sequencing market is large, fast-growing and dominated by brands from other countries, according to BCC Research. The Chinese DNA sequencing market was worth nearly $1.2 billion in 2017. It is estimated to grow to $2.9 billion by 2022, reaching a compound annual growth rate (CAGR) of 19.0%, according to the report The Chinese Market for DNA Sequencing.
Within this report, the characterization and quantification of disease indication, test complexity and purpose, and region are main topics of discussion. However, emphasis is also placed on workflow (sequencers, sequence prep, informatics) and key applications (research and development, clinical, applied) that are expected to emerge over the next few years.
The Human Genome Project (HGP) is regarded as a prominent driver that is moving the DNA research industry forward, as it has rapidly reduced costs to where it is now feasible for complex NGS tests to be priced in the range of other multiplex genetic tests.
Research Highlights
- Sequencing companies from major cities such as Beijing, Shanghai and Shenzhen, where the Chinese DNA sequencing industry begun, are now penetrating other Chinese cities. Tianjin, Chengdu and Chongqing have shown significant growth potential.
- The number of newly-established sequencing companies in 2016 and 2017 was smaller than in 2014 and 2015 because of new entrants having less opportunity while older players led the market.
- Sequencing services are estimated to be worth $1.8 billion by 2022, reaching a CAGR of 24.4%.
“The Chinese sequencing industry experienced significant changes as the market grew in recent years,” said Jason Chen, BCC Research analyst and author of the report. “When the industry started in China before 2010, demand from government-sponsored R&D projects was its main driving force. In 2010, noninvasive prenatal testing (NIPT) came to the market, starting the fast growth of the clinical application segment in the following three years. The NIPT service, however, was interrupted by the government in early 2014. In mid-2014, the government only approved a few companies for providing NIPT services to the Chinese market.”
About BCC Research
BCC Research is a publisher of market research reports that provide organizations with intelligence to drive smart business decisions. By partnering with industry experts worldwide, BCC Research provides unbiased measurements and assessments of global markets covering major industrial and technology sectors, including emerging markets. For more information about BCC Research, please visit bccresearch.com. Follow BCC Research on Twitter at @BCCResearch.