The report DNA sequencing market product (consumables, instruments, and services.), by application (biomarkers & cancer, diagnostics, reproductive health, personalized medicine, and forensics.), by technology (sequencing by synthesis, ion semiconductor sequencing, sequencing by ligation, pyrosequencing, single-molecule-real-time sequencing, chain termination sequencing, and nanopore sequencing.), by end-user (academic & government research institutes, pharmaceutical companies, biotechnology companies, and hospitals & clinics.), and by region (North America, Europe, Asia Pacific, Middle East & Africa and Latin America) is expected to reach US$ 29.6 Bn by 2026, at a CAGR of 17.95 % during a forecast period.
Increasing conferences and workshops related to DNA sequencing market, continuing decline in sequencing costs, growth in liquid biopsy applications is propelling the growth of the market. Increasing personalized therapies, and the all-inclusive cost structure of sequencing products are boosting the growth of the global DNA sequencing market.
Accuracy & standardization concerns, the high cost of development & maintenance, and ethical & legal limitations associated with DNA sequencing restrain the market growth. However, issues related to public health & safety is a key challenge to market growth.
The major opportunity of the global DNA sequencing market is increasing Y chromosome testing market as well as advancement in next-generation sequencing.
North America is expected to hold the largest share during the forecast period.
North America is expected to hold the largest share during the forecast period, owing to the growing geriatric population, and the prevalence of various chronic disorders. In North America, the prevalence of various cancer cases such as prostate cancer, breast cancer, bronchus cancer, bladder cancer, rectum and colon cancer, melanoma of the skin, non-Hodgkin lymphoma, renal pelvis cancer, thyroid cancer, endometrial cancer, Pancreatic cancer, and others, are growing rapidly due to which the demand for DNA sequencing is continuously increasing in North America. The Middle East and Africa are expected to account for the lowest market share in the global DNA sequencing market due to the lack of advanced technology and poor medical facilities in developing economies in this region.
The personalized medicine application segment is expected to witness the highest growth rate during the forecast period.
The penetration of DNA sequencing products and services into healthcare is estimated to increase during the forecast period owing to the increased awareness of genetic testing in patient care among clinicians & patients. Increasing adoption in clinical workflows is an emerging trend in the DNA sequencing market space. The increased adoption of sequencing services in life sciences encourages researchers in healthcare to integrate DNA sequencing data into clinical workflows.
Key player operating in the global DNA sequencing market are ZS Genetics, Siemens AG, Pacific Biosciences, Myriad Genetics, Microchip Biotechnologies, Johnson & Johnson, Integrated DNA Technologies, Hamilton Thorne Biosciences, Commonwealth Biotechnologies, Bayer Corporation, Agilent Technologies, Abbott Laboratories, Abbott Laboratories, LI-COR Biosciences, GE Healthcare Life Sciences and 454 Life Sciences.
Maximize market research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the global DNA sequencing market. The report encompasses the market by different segments and region, providing an in-depth analysis of the overall industry ecosystem, useful for making the informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the global DNA sequencing market. The driving forces, as well as considerable restraints, have been explained in depth. in addition to this, competitive landscape describing the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain global DNA sequencing market positioning of competitors.
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