The global DNA sequencing products market was worth around US$ 4 Billion in 2018, registering a CAGR of 15.8% during 2011-2018. The market is further projected to cross US$ 9 Billion by 2024, growing at a CAGR of 15.2% during 2019-2024. DNA sequencing is the process used for calculating the precise sequence of the four nucleotide bases within a DNA molecule, namely, cytosine, adenine, thymine and guanine. It plays an important role in mapping out the human genome as well as helps in various applied research applications. In line with this, DNA sequencing products are gaining popularity in the pharmaceutical industry as they assist researchers in understanding complex diseases and, in turn, develop personalised medicines for patients. Additionally, DNA profiling has become an integral part of forensic science as these profiles enable investigators to identify and distinguish multiple samples from a pool of DNA.
Global DNA Sequencing Products Market Drivers:
Breakup by Product Type:
On the basis of the product type, the market has been segmented into consumables and reagents, and equipments. Currently, consumables and reagents represent the largest segment as they generate a higher return-on-investments.
Breakup by Application:
DNA sequencing products find applications across various sectors including biomarkers, diagnostics, reproductive health, personalised medicine and forensics. Amongst these, biomarkers are the most popular application segment of DNA sequencing products as they help in predicting treatment outcomes.
Breakup by End-Use:
Based on the end-use, the market has been segregated into academic and government research institutes, pharmaceutical and biotechnology companies, and hospitals and clinics. At present, DNA sequencing is majorly being used in academic and government research institutes owing to the presence of a large number of research and development projects which involve the practical implementation of data analysis and next-generation sequencing.
On a geographical front, North America accounts for the majority of the total global DNA sequencing products market. This can be accredited to the growing geriatric population, prevalence of several chronic diseases and presence of prominent drug manufacturers in the region. North America is followed by Europe, Asia Pacific, Latin America, and Middle East and Africa.
The nature of the market is fragmented with the presence of numerous small and large manufacturers who compete in terms of prices and quality. Some of the leading players operating in the market are:
Key Questions Answered in This Report:
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