DNA Sequencing In Drug Discovery Market - Growth and Opportunities in Industry by 2023
DNA Sequencing In Drug Discovery Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023
DNA sequencing is defined as the process of determining the order of four nucleotide bases i.e. adenine, guanine, cytosine and thymine within the strand of deoxyribonucleic acid (DNA) molecule. DNA sequencing technology is extensively used for drug development since its success in the human genome project, making it an essential tool for genetic analysis. Additionally, innovations in the microarrays, bioinformatics and other important tools have increased the area of application and services of DNA sequencing in drug discovery. On the basis of sequencing tools, DNA sequencing in drug discovery market is fragmented into four major segments namely instruments, consumables, services and workflow.
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Besides, the workflow in DNA sequencing in drug discovery market majorly includes bioinformatics software, computational chemistry and biology modeling. These products aid in increasing the efficiency of process and understanding of the molecule in study. They can be used in analyzing and solving chemical problems during the study.
Presently, DNA-sequencing in drug discovery market is focused on developing drugs for oncology, various vaccines and infectious diseases. The market of DNA-sequencing in drug discovery is increasing at a rapid pace majorly driven by increasing applications of microarrays and polymerase chain reaction techniques and increasing research and development of personalized medicines. Moreover, technological breakthroughs and increasing applications of automated sequencer is also helping the market to grow. The growth of DNA-sequencing in drug discovery market is restrained by few factors such as partial scope of microarrays for pathogen enumeration, high cost of supporting products and incompatibility problems with current bioinformatics tools.
North America is currently leading the DNA-sequencing in drug discovery market followed by Europe majorly due to increasing government funds towards the associated research and development. In U.S., the national human genome research institute (NHGRI), part of national institute of health (NIH) granted more than USD 14 million in grants for developing new and innovative DNA sequencing technologies to be used in drug discovery for various fatal diseases.
The Asia-Pacific market will grow at a faster pace owing to increasing funds by the government of countries such as India, Japan, China and Australia for research and development activities. Key players are seeking for market opportunities in potential geographies such as Asia-Pacific and Latin America, either through organic or inorganic route. For instance, Thermo Fisher Scientific recently acquired Life Technologies for USD 13.6 billion in cash which is sought to have a major impact on the global DNA sequencing industry.
Some of the major key players in DNA-sequencing in drug discovery market include 454 Life Sciences, Beckman Coulter, Inc., Bio-Rad Laboratories, Inc., Commonwealth Biotechnologies, Inc., GE Healthcare, Roche Diagnostics, QIAGEN, Illumina, Inc., GVK Biosciences Private Limited, Nanogen, Inc., Promega Corporation, Siemens Healthcare Diagnostics, Sigma-Aldrich Corporation and Thermo Fisher Scientific, Inc.
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Nov 24, 2016