Latest News - DNA Sequencing Market: Academic research is expected to lead the End-user segment during 2024-2028

The DNA Sequencing Market is being driven by Growing adoption of NGS

The DNA Sequencing Market is expected to grow at a CAGR of 20.01% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 17344.5 million. Third-generation DNA sequencing represents a significant advancement in the field, offering long-read sequencing capabilities without the need for clonal amplification or extensive preparative steps associated with next-generation sequencing. This innovative technology reads nucleotide sequences at the single-molecule level, thereby eliminating the need to fragment long strands of DNA into smaller segments. Third-generation sequencing holds immense potential to surpass the limitations of first and second-generation methods, delivering high-quality genome assemblies and facilitating more comprehensive genomic analysis in various industries, including healthcare, agriculture, and research. Novel third-generation sequencing approaches continue to emerge, further enhancing the market's potential for delivering unprecedented genomic insights. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• End-user
  • Academic research
  • Clinical research
  • Hospitals and clinics
  • Pharmaceutical and biotechnology companies
• Solution
  • Products
  • Services
• Geography
  • North America
    • US
  • Europe
    • Germany
    • UK
  • Asia
  • Rest of World (ROW)

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Growing adoption of NGS
• Increasing affordability of DNA sequencing
• Expanding applications of DNA sequencing

However, the market also witnesses some limitations, which are as follows:

• Inadequate resources for DNA sequencing in developing countries
• Limitations of DNA sequencing technologies
• Unfavorable reimbursement scenario

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Market Scope in DNA Sequencing Market Research Report

Find out which segment is leading the market by accessing the free PDF report

Research Analysis Overview

The DNA sequencing market is experiencing significant growth due to the increasing demand for high-throughput sequencing technologies in various industries, including clinical diagnostic laboratories, reproductive health, forensics, drug discovery, and personalized medicine. Benchtop sequencers are becoming increasingly popular due to their smaller footprint and faster sequencing speed. Clinical diagnostic laboratories are leveraging genomic data to provide precise clinical diagnosis, particularly in the fields of reproductive health and oncology. Reproductive health applications include prenatal and newborn screening, while oncology applications involve identifying DNA variations for cancer diagnosis and treatment. The clinical diagnosis segment is expected to dominate the DNA sequencing market due to the growing need for genetic information in healthcare. The consumables segment is also expected to grow significantly due to the increasing demand for sequencing platforms and the need for bioinformatics tools for analyzing genomic data. Next-Generation Sequencing (NGS) technologies, such as Whole-Genome Sequencing (WGS), are revolutionizing the field of genomics by enabling the analysis of gene expression, genetic variation, and pharmacogenomics. NGS is also being used in precision medicine and cancer research to develop personalized treatment plans based on individual genetic information. The DNA sequencing market is expected to continue growing as healthcare frameworks embrace the potential of genomics in clinical diagnosis and drug discovery. The market is expected to reach significant growth in the coming years, driven by the increasing demand for faster, more accurate, and cost-effective sequencing technologies.

Market Research Overview

The life sciences tools and services sector, a significant segment of the global healthcare market, encompasses companies and offerings involved in the research and development (R&D) of various product categories. These include capital equipment, instruments, accessories, and consumables utilized in the production of pharmaceuticals, biotechnology products, and laboratory diagnostics. Additionally, life sciences-related services such as contract research, manufacturing, and sales are included in this market. According to Technavio, the healthcare market's size is determined by the consolidated revenue generated by manufacturers of healthcare equipment, supplies, pharmaceuticals, biotechnology, and life sciences tools and services. The expansion of the global healthcare market will be fueled by several factors, including the increasing aging population, with the proportion of the global population aged 60 and above projected to significantly rise. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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