DNA Sequencing In Drug Discovery Market

DNA Sequencing In Drug Discovery Market - An Overview

The global DNA sequencing in drug discovery market is expected to witness strong growth during the forecast period between 2021 and 2031.

DNA sequencing has played a key role in the development of novel drugs in the last few years by detecting drug candidates for an extensive range of disorders such as cancer. Leading DNA sequencing companies are developing novel methods to develop different types of drugs, worldwide.

DNA sequencing has significantly helped in decreasing the cost of genome sequencing and helped in the precise analysis of several medical records and genetic data.

DNA Sequencing In Drug Discovery Market - Trends and Opportunities

Rising application of different types of polymerase chain reactions and microarray techniques for genomic analysis is the key growth driver for the global DNA sequencing in drug discovery market.

Also, increasing adoption of novel sequencing technologies in a bid to identify fresh drug targets could fuel the growth in the overall DNA sequencing in drug discovery market, in the coming years.

In addition to this, increased focus by various pharmaceutical companies to study and understand drug mutations in a bid to produce improved quality of medicine by deploying DNA sequencing could propel the global DNA sequencing in drug discovery market, in the years ahead.

Other factors such as advancements in the field of computational chemistry and bioinformatics software could bolster the growth in the overall DNA sequencing in drug discovery market, in the coming years.

DNA Sequencing In Drug Discovery Market - Competitive Landscape

The global DNA sequencing in drug discovery market is highly competitive, with the presence of several well-established market players, many of whom are expected to account for a large share in the overall market, in future.

Research and development undertakings could be a key growth strategy for leading DNA sequencing in drug discovery market players, in the years ahead.

Collaboration with smaller players could help prominent DNA sequencing in drug discovery market players expand their market presence and increase their revenue shares.

Leading German DNA sequencing market player Qiagen, in July 2021, signed a collaborative agreement with Sysmex Corporation of Japan for the development and commercialization of cancer diagnostics.

The smaller DNA sequencing in drug discovery market players will seek investments from private investors, which could assist them in their long-term growth.

A few leading players in the global DNA sequencing in drug discovery market include Siemens Healthcare Diagnostics, Thermo Fischer Scientific Inc., GVK Biosciences Private Limited, Promega Corporation, and QIAGEN.

DNA Sequencing In Drug Discovery Market - Regional Assessment

The global DNA sequencing in drug discovery market is divided into five regions, namely, North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

North America is expected to be the dominant region in the global DNA sequencing in drug discovery market because of increased public funding offered for developing DNA sequencing technologies for drug discovery in countries such as US and Canada.

Europe is expected to offer lucrative growth opportunities for the overall DNA sequencing in drug discovery market because of increased funds from governments for research and development activities for genomic research in countries such as Germany and UK.

Asia Pacific is expected to witness strong growth in the global DNA sequencing in drug discovery market because of growing role of DNA sequencing in identifying genetic information through genome sequencing, leading to improved drug development programs.

Leading market players could establish R&D centers in countries such as India, owing to ease of availability of key resources such as land and labor.

Other regions of the world such as Latin America and Middle East and Africa are expected to witness sluggish growth in the global DNA sequencing in drug discovery market, in the coming years owing to reduced presence of well-established market players in countries belonging to both the regions.