The latest report by IMARC Group, titled “DNA Sequencing Products Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, finds that the global DNA sequencing products market reached a value of US$ 3 Billion in 2017. Over the past few decades, DNA sequencing has become an important part of biology and other sciences. It ascertains the physical order of four bases of DNA which include adenine, guanine, thymine, and cytosine. Apart from this, DNA sequencing is also used for measuring the sequence of individual genes, entire genomes and full chromosomes of any organism. Some advantages offered by DNA sequencing include high accuracy and speed, low cost and precise results from low sample input.
Highlights of the global DNA sequencing products market:
- Advancements in technology act as a major factor bolstering the growth of the market.
- Research organisations represent the largest application area accounting for the majority of the global share.
- North America is the leading market for DNA sequencing products.
In recent years, a number of manufacturers across the globe have invested in several R&D projects due to which there have been technological developments in personalised medicines. For instance, an international scientific research project, namely, the Human Genome Project brought about a major transformation in DNA sequencing technologies. Medical facilities are now offering sequencing-based treatments, quantitative assessments of genomic sequences and rapid DNA sequencer for large-scale and Sanger sequencing. This, in turn, has positively contributed to the growth of the global DNA sequencing products market. As a result, global DNA sequencing products market is further expected to reach a value of US$ 8 Billion, exhibiting a CAGR of 15% during 2018-2023.
On the basis of product type, consumables and reagents currently exhibit a clear dominance in the market, followed by equipment. Based on application, research organisations represent the largest application area of DNA sequencing products market. It is followed by hospitals, pharmaceutical and life science companies. Region-wise, North America accounts for the majority of the total global share. This is due to declining costs of sequencing along with the presence of well-established vendors in the region. Other major markets include Europe, Asia-Pacific, Latin America and Middle East and Africa. The competitive landscape of the market has also been analysed with some of the key players operating in the market being Illumina Inc., Thermo Fisher Scientific Inc., Roche Diagnostics, Pacific Biosciences of California, Inc. and Beckman Coulter.
The report by IMARC Group has examined the global DNA sequencing products market on the basis of:
- Consumables and Reagents
- Research Organisations
- Hospitals, Pharmaceutical and Life Science Companies
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- Illumina Inc.
- Thermo Fisher Scientific Inc.
- Roche Diagnostics
- Pacific Biosciences of California, Inc.
- Beckman Coulter
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