The North America DNA sequencing products market reached a value of US$ 1.6 Billion in 2019. DNA sequencing is the process used to know the precise sequence of the four DNA nucleotide bases. These include cytosine, adenine, thymine and guanine bases within a DNA molecule. DNA sequencing plays an important role in mapping out the human genome. It has other research applications, such as determining numerous nucleotide variations related to distinctive genetic diseases. This helps in understanding these diseases in order to advance the treatments associated with them.
North America DNA sequencing products market is currently being driven by several factors. The presence of high R&D investments pertaining to new drug discoveries and developments have catalyzed the demand for DNA sequencing products in the region. Additionally, the rising per capita incomes have induced the high healthcare expenditures in the region, thus escalating the market growth. Moreover, growing geriatric population and prevalence of several chronic diseases have also fueled the demand for DNA sequencing products. Apart from this, the presence of prominent drug manufacturers and availability of skilled professionals in the healthcare sector are also expected to spur the market growth in the coming years. Looking forward, IMARC Group expects the market to reach a value of US$ 3.8 Billion by 2025, registering a CAGR of 15.1% during 2020-2025.
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