DNA sequencing makes way in Clinical practices
Inkwood Research released a research report, “Global DNA Sequencing Market Forecast 2017-2023.” DNA Sequencing market is growing at the CAGR of over 22%
Global DNA Sequencing Market - Synopsis
DNA Sequencing is a proceeding of determination of the definite order of nucleotides within a DNA molecule. Diversified technology or method is used in determining the order of four bases - adenine, guanine, cytosine, and thymine in a DNA strand. An account of Personality traits, genetically determined illness and IQ level can be determined from a person’s DNA sequence. These specifics provide the individual and physicians a very clear view of the person’s genetic information and aids in providing an effective personalized treatment. Furthermore, DNA sequencing will be conducive for other sciences like genetics, anthropology, forensic science, archeology, biotechnology and molecular biology.
Global DNA sequencing Market – Segmentation
DNA sequencing market is segmented on the basis of geography, Sequencing Technology Platforms, application and end-user. The Sequencing Technology Platforms is segmented Into Illumina Synthesis, Ion Semiconductor Sequencing, Pyrosequencing, Sequencing by Ligation, Single-Molecule Real-Time Sequencing and Other Technologies. The market segmentation for Application includes Diagnostics, Drug Discovery, Biomarker Discovery, Personalized Medicine, Agriculture & Animal Research and Other Applications. End-user includes Research Centers and Academic & Government Institutes, Hospitals & Clinics, Pharmaceutical & Biotechnology Companies and Other End. Geographically, the market is segmented into North America, Europe and Asia Pacific. Presently, North America is leading the DNA sequencing market while Europe is the second largest market. Asia Pacific is expected to report advancements in DNA sequencing market.
Global DNA sequencing Market – Drivers
The market drivers for DNA sequencing Market are growth in demand for non-invasive detection, disease diagnosis and personalized treatment, decreasing costs of DNA sequencing and higher research and spending by biotechnology companies. Colossal demands for DNA sequencing is from Research and Academic institutions and is estimated to be the key driver for the market growth. Personalized treatment or medication and biomarker discovery is fueling the growth of DNA sequencing market.
Global DNA sequencing market – Restraints
Rapid changes and developments in technology is a major restraint for the growth of DNA sequencing market. With developments, there is acceleration in competition in DNA sequencing sector. Development costs, higher research and issues related to public health and safety are some other restraints for the growth of DNA sequencing market.
Global DNA sequencing market – Competitive Landscape
Key players in global DNA sequencing market focuses on innovations and technological advancements for betterment of the consumers whilst strengthening the position in the market. As per a report in Forbes, Illumina predicted the total addressable market for DNA sequencing will skyrocket almost 10 folds to $20 Billion. There is a rise in companies developing softwares for DNA sequencing data leading to competition in the market.
Global DNA sequencing market – Key Players
Some of the major key players contributing to the global DNA sequence market include Adaptive Biotechnologies, Inc, Agilent Technologies, Inc., Appistry, Inc., Asuragen, Inc., BGI and Cell Microsystems, Inc. among others.
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Dec 02, 2016