DNA sequencing is expected to show a promising growth during the forecast period of 2021-2031 due to its execution in various applications such as microarray and other analysis methods. DNA sequencing is cost-effective, has high accuracy and speed, and the output can be derived even from low samples. DNA sequencing technologies have been upgraded from the first generation to the third generation. DNA sequencing systems have gained traction due to their features, which can positively impact the DNA sequencing market. The application of DNA sequencing in biomarker and cancer segments may generate ample revenue opportunities for the DNA sequencing market due to the increasing prevalence of cancer worldwide.
The in-depth analysis conducted by the team of analysts TMR provides deep insights into the ongoing market scenario. It enlightens the CXO’s with the market trends, industry drivers, constraints, opportunities, and challenges in the DNA sequencing market. DNA sequencing market is analyzed based on component, deployment type, application, industry, and region. This report is essential for insights into the DNA sequencing market during the forecast period of 2021-2031. The impact of COVID-19, in particular, is also covered in this report.
The prevalence of cancer is increasing globally. The development of DNA sequencing for understanding the mechanism of any malfunction in the body can be found easily. Considering all these factors, the global DNA sequencing market may grow substantially. A considerable rise in the geriatric population and the escalating rate of patients diagnosed with chronic diseases and cancer are increasing the demand for the DNA sequencing market. Thus, this aspect may bring exceptional growth opportunities for the pharmaceutical manufacturing market.
Due to lifestyle changes, various health-related issues are popping up in the current scenario. DNA sequencing helps in the proper diagnosis of reproductive health issues, personal health problems, and cancer. A clear picture of the health status can be possible due to DNA sequencing, which can create new opportunities for the DNA sequencing market. Furthermore, DNA sequencing is also used for forensics, which can be a growth booster for the DNA sequencing market in the coming years.
The latest versions of the DNA sequencing systems are portable and can be handled easily. For instance, GridION, MinION, or Flongle, the Oxford Nanopore Technologies’ systems are portable handheld systems for RNA and DNA sequencing for reads of more than 2 Mb. NGS is a powerful technology used for DNA sequencing, separation, and detection.
The key players are investing in research and development activities to innovate new technologies to upgrade their products. For instance, the researchers are working on improving the accuracy of SMRT sequencing platforms and trying to make them cost-effective. The introduction and use of HiFi sequencing can produce reference-grade genomes for plants, microbes, animals, and even humans. Such novel sequel systems will likely create a sea wave of opportunities for the DNA sequencing market players.
The key players analyze the prevailing opportunities and strengthen their market presence through strategic planning. The investments in R&D activities have led to replacing the traditional tools of genomics with technologically advanced DNA sequencing applications. Genome mapping programs are globally used as a result of these efforts. Thus, the DNA sequencing market may experience an upsurge in the near future.
The key players operating in the DNA sequencing market are Oxford Nanopore Technologies Ltd., New England Biolabs, Myriad Genetics, Inc. Eurofins Scientific, Bio-Rad Laboratories, Inc., and Myriad Genetics, Inc.
Region-wise, the DNA sequencing market can be segmented into North America, Europe, Asia Pacific, and LAMEA. Asia Pacific is expected to show a high growth trajectory in the DNA sequencing market due to the increasing awareness about DNA sequencing applications. The research activities are being conducted in the Asia Pacific region due to the rising demand for cost-effective and accurate DNA sequencing technologies.