"Designing Growth Strategies is in our DNA"
DNA sequencing is the method of determining the orders of four nucleotides of DNA, further providing the base for genotyping and phenotyping. DNA sequencing has played a pivotal role in mapping the human genome and has helped in determining various nucleotide variations in relation to genetic diseases.
Growing advancements in DNA sequencing technologies has enhanced the application of DNA sequencing tool in various segments of the medical field. Growing prevalence of various cancers and genetic disease globally will fuel the demand for effective treatment therapy. In 2018, according to the American Institute for Cancer (AICR), it was estimated that 2 million women around the globe were diagnosed with breast cancer.
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In-line with new market players entering in research and development domain with innovative DNA sequencing methods are likely to fuel the DNA sequencing market size during the forecast period.
Increasing applications of DNA sequencing in imaging, nanotechnology, bioinformatics, and development of effective gene therapy, for the treatment of various types of diseases are likely to drive the DNA sequencing market growth during the forecast period. Moreover, growing applications of DNA sequencing in pharmacogenomics has escalated the demand for the development of personalized medicines, which is likely to boost the market growth during the forecast period.
Increasing trend of strategic partnerships and collaborations among various key players in launching effective DNA sequencing technology is likely to fuel DNA sequencing market trend during the forecast period. Additionally, the rise in high throughput sequencing technology has made it affordable to achieve low-cost DNA sequencing, which is further anticipated to boost the DNA sequencing market growth during the forecast period.
However, the lack of skilled professionals and low awareness about the emerging technologies in DNA sequencing in low-middle income countries are likely to hinder the DNA sequencing market demand during the forecast period.
Some of the major companies present in DNA sequencing market include Abbott, Danaher, F. Hoffmann-La Roche Ltd, Illumina, Inc., LI-COR, Inc., Pacific Biosciences of California, Inc., Siemens, Thermo Fisher Scientific Inc., PerkinElmer Inc. and other players.
Among technology segmentation, next-generation sequencing technology (NGS) is anticipated to hold the largest share of DNA sequencing market during the forecast period owing to the growing application of next-generation sequencing technology in the clinical domain, faster sequencing of large DNA sequences simultaneously, and being more sensitive in detecting low-frequency variants.
Geographically, the global DNA sequencing market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East Asia and Africa. North America is anticipated to dominate the market during the forecast period owing to the presence of key players in the region, growing prevalence of various genetic disorders and increase in the investments by many key players in the developing technological advanced DNA sequencing technology. In Europe, rising awareness about the growing application of DNA sequencing in developing effective gene therapy is likely to drive the DNA sequencing growth during the forecast period. In the Asia Pacific and Latin America, the DNA sequencing market is anticipated to grow at a significant rate owing to the growing prevalence of various chronic disorders & cancers and growing adoption of new technology in DNA sequencing, and rise in the patient population. In the Middle East & Africa, growing unmet needs for the cost-effective diagnosis of the various disease is likely to fuel the DNA sequencing market growth during the forecast period.
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