LONDON, Oct. 23, 2023 (GLOBE NEWSWIRE) -- As per The Business Research Company’s DNA Sequencing Global Market Report 2023, the global DNA sequencing market is poised for remarkable expansion, with projected growth from $10.24 billion in 2022 to $11.84 billion in 2023, reflecting an impressive Compound Annual Growth Rate (CAGR) of 15.6%. This upward trajectory is expected to continue, leading the market to reach $20.9 billion by 2027, with a CAGR of 15.3%.
The Fight Against Cancer: A Major Growth Driver
The primary catalyst behind this surge in DNA sequencing market is the increasing prevalence of cancer, a global healthcare challenge. Uncontrolled cell growth affects various organs and has substantial morbidity and mortality implications. DNA sequencing plays a pivotal role in cancer care, enabling the identification of genetic mutations, understanding tumor biology, and guiding treatment decisions. These advancements result in improved outcomes for patients dealing with cancer.
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Key Players in the DNA Sequencing Market
The DNA sequencing market features a roster of prominent players, including F. Hoffmann-La Roche Ltd, Abbott Laboratories Inc., Thermo Fisher Scientific Inc., Danaher Corporation, Merck KGaA, Siemens Healthineers AG, Eurofins Scientific SE, Agilent Technologies Inc., Illumina Inc., PerkinElmer Inc., Bio-Rad Laboratories Inc., QIAGEN N.V., BGI Genomics, Myriad Genetics Inc., Natera Inc., and many others.
Pioneering Advancements in Single-Cell DNA Sequencing
In the ever-evolving landscape of DNA sequencing, a notable trend is the emergence of single-cell DNA sequencing technologies. Major companies in the DNA sequencing market are leading the charge in adopting these innovations to maintain their competitive edge. For example, in May 2023, Mission Bio Inc., a US-based biotechnology company, introduced Tapestri v3, an advanced, high-throughput single-cell DNA and multi-omics analysis platform. Tapestri v3 comes with groundbreaking improvements in chemistry, enhancing the detection of rare cells for various applications. This remarkable advancement enables researchers to uncover a new level of granularity, previously undetectable, leading to deeper insights into diseases.
Regional Insights and Market Segmentation
In 2022, North America took the lead as the largest region in the DNA sequencing market, indicating its substantial presence. The Asia-Pacific region is anticipated to be the fastest-growing region in the forecast period.
The global DNA sequencing market is meticulously segmented into various categories, providing a comprehensive view of its dynamics:
- By Product: Instruments, Consumables, Services
- By Technology: Third Generation DNA Sequencing, Next-Generation Sequencing, Sanger Sequencing
- By Application: Diagnostics, Biomarkers and Cancer, Reproductive Health, Personalized Medicine, Forensics, and Other Applications
- By End User: Hospitals and Healthcare Organizations, Academics and Research Institutions, Pharmaceutical and Biotechnology Companies, and Other End Users
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The Global DNA Sequencing Market Report 2023 serves as an indispensable resource for a wide spectrum of stakeholders. Businesses can use the report to make informed decisions, identify growth opportunities, and align their strategies with evolving market trends. Investors will find the report valuable for pinpointing potential areas for investment and predicting future market dynamics. Government bodies and regulatory authorities can draw on the insights provided to formulate policies that will foster innovation and improvements in healthcare. In summary, the DNA sequencing market report empowers various stakeholders to navigate the complex landscape of the DNA sequencing market with confidence.
DNA Sequencing Global Market Report 2023 by The Business Research Company provides insights on the DNA sequencing market size, DNA sequencing market segments, DNA sequencing market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
The Business Research Company has published over 6,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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