DNA Sequencing Services Market is expected to hit US$ 2,080.2 Million by 2033 amidst Growing Interest in Minimally Invasive Aesthetics | Future Market Insights, Inc.

NEWARK, Del, Aug. 28, 2023 (GLOBE NEWSWIRE) -- The DNA Sequencing Services Market is forecast to experience a growth of 8.2% over the estimated time, as per FMI's analysis. The industry's size is predicted to reach a market value of US$ 945.6 million in 2023.

Surging advancements in DNA sequencing services are expected to push industry growth over the assessment period. For example, the generation of next-gen sequencing (NGS) platforms has driven cost-savings and efficiency in the DNA sequencing procedure. This is expected to boost its adoption within diverse end-use industries. 

Another trend consolidating the market expansion is the increasing availability of personalized medicine. Personalized medicine is a fairly new field of medicine. It utilizes a person's genomic information to forecast their chances of developing particular diseases and to customize treatments accordingly.

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Surging applications of DNA sequencing are also contributing toward market growth. For example, DNA sequencing is used in cancer research to detect mutations that can be addressed with specific drugs. It is further being deployed in agricultural research to grow crops with enhanced traits like higher yields and disease resistance.

Due to constant technological improvements, DNA sequencing providers are now delivering better data quality. Therefore, customers can expect more precise results from sequencing projects. Moreover, the steadily declining cost of DNA sequencing is making it affordable in commercial and scientific applications. As a result, end users are increasing their investments in the technology.

Top Highlights from the FMI’s Analysis of the DNA Sequencing Services Market:

• The North American region is expected to account for the leading market share of more than 40.6% in 2023, followed by Europe, which is projected to account for 32.4% in the same year.
• The United Kingdom is forecast to expand at a CAGR of 12.9% over the estimated period, suggesting significant business avenues that the country is expected to present.
• India is anticipated to record a CAGR of 8.5% over the forecast period, whereas China is forecast to propel at a CAGR of 7.8%. DNA sequencing services are expected to increase in the region to meet the increasing medical demands of the population.
• Japan is forecast to account for a market share of 2.7%, comparatively lower than the other competitive markets. However, the market is expected to offer diverse growth opportunities to businesses. 
• Based on solutions and services, the data analysis and sequencing services segment is forecast to account for 41.8% of the global market.
• Under the end-user category, the academic institutes and research centers segment is anticipated to record more than 37.7% over the forecast period.

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Report Scope:

Recent Developments in the Market are Shaping the Competitive Scenario:

• PacBio released in October 2022 two genome sequencing systems, i.e., Onso short-read sequencing system and Revio long-read sequencing system. Deep-learning approaches are combined with Revio to perceive DNA methylation from a normal sequencing library.
  

• Element Biosciences unveiled in March 2022 the technical details of its long-awaited Aviti DNA sequencer. This novel instrument deploys a riff on sequencing-by-synthesis chemistry that lowers the reagent usage, leading to costs of up to US$ 7/ GB. 
  

• In May 2021, Thermo Fisher Scientific introduced its Genomic Solutions Platform, which provides comprehensive genomics services via a single platform. 
  

• In November 2020, Illumina’s HiSeq X Ten Sequencing System launched with extended data analysis capabilities and superior throughput. 
  

Top 9 Players in DNA Sequencing Services Market:

1. Thermo Fisher Scientific Inc.
2. Abbott Laboratories
3. GE Healthcare
4. Merck KGaA
5. Agilent Technologies Inc.
6. Roche Holdings AG
7. Pacific Biosciences
8. Illumina Inc.
9. Bio-Rad Laboratories Inc.
   

Key Segments Profiled in DNA Sequencing Services Industry:

By Product Type:

• Maxam–Gilbert DNA Sequencing
• Chain-Termination Methods
• Dye-Terminator Sequencing
• Automation and Sample Preparation
• Large-scale DNA Sequencing
• New DNA Sequencing Methods
• High Throughput DNA Sequencing
• Parallel Signature Sequencing (MPSS)
• Polony Sequencing
• Pyrosequencing
• Illumina (Solexa) Sequencing
• SOLiD Sequencing
• Others
  
  

By End Use:

• Automotive Industry
• Chemical Industry
• Agriculture
• Oil and Gas
• Research and Development
• Other End Uses

By Application:

• Hospitals
• Diagnostic Centers
• Biotechnology and Pharmaceutical Industry
• Academic Research Institutes
• Other Application Areas
  
  

Explore FMI’s related ongoing Coverage in the Healthcare Market Domain:

Portable Medical Devices Market Size: The global portable medical devices market is projected to expand at a CAGR of 10.7% during the forecast period. The market is estimated to generate market revenue of US$ 163.84 billion by 2033.

Medical Automation Market Share: The global medical automation market size is expected to surpass an impressive valuation of USD 44.45 billion in 2022 and is projected to exhibit a compound annual growth rate (CAGR) of 10.6% from 2023 to 2033.

Medical Disposables Market Trends: Global sales of medical disposables in 2022 were held at US$ 153.5 Billion. With a CAGR of 7.1% from 2023 to 2033, the market is projected to reach a valuation of US$ 326.4 Billion by 2033.

Medical Bed Market Growth: Increasing investment in medical infrastructure is predicted to increase worldwide medical bed market from US$ 3.4 Billion in 2022 to US$ 5.5 Billion in 2032. The medical bed market is expected to expand 4.9% from 2022 to 2032.

Medical Cannula Market Outlook: The global medical cannula market size is forecast to reach US$ 445 Million in 2022. Rising preference for minimally-invasive medical procedures across the world is expected to drive the market at a high 7.3% CAGR to reach a valuation of US$ 783.5 Million by 2030.

About Future Market Insights (FMI):

Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.

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