Increasing inclination toward genetic testing in order to determine patient health at different stages of disease development is another factor expected to fuel the demand for DNA diagnostics in the coming years.
The global DNA diagnostics market size, which achieved a substantial valuation of US$ 20.9 Billion in 2021, is projected to witness remarkable growth, reaching an estimated value of US$ 22.9 Billion in 2022. This impressive year-over-year increase of 9.6% sets the stage for an anticipated surge in the market, fueling its expansion to an estimated US$ 51.5 Billion by 2032.
A recent in-depth study conducted on the DNA diagnostics sector has revealed promising insights, indicating an upward trajectory for the market owing to the robust support from diverse governmental organizations worldwide. The research predicts a consistent incline at an 8.4% Compound Annual Growth Rate (CAGR) during the forecast period from 2022 to 2032.
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The market's growth is significantly driven by the pivotal role of DNA diagnostics in various sectors, including healthcare, forensics, agriculture, and more. With the expanding applications of DNA testing across diverse industries and the advent of innovative technologies, the demand for DNA diagnostics continues to witness substantial growth.
With the burgeoning endorsement from governmental organizations, the DNA diagnostics market is set to witness a remarkable surge over the next decade. This sustained growth trajectory aligns with the escalating demand for accurate and precise diagnostic tools across various sectors, including healthcare, forensic identification, and research purposes.
"DNA diagnostics play a pivotal role in precision medicine, aiding in personalized treatment approaches and disease management. The market's expansion signifies a promising future in the healthcare and research sectors," stated Future Market Insights.
Key Aspects Of The DNA Diagnostics Market Include:
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Key Players of the Global DNA Diagnostics Market:
Recent Development:
In February 2022, Sysmex Corporation unveiled a strategic partnership with KAINOS Laboratories, Inc., aimed at bolstering their capabilities in the realm of diagnostic reagent development and production, particularly within the immunochemistry domain.
Shifting our focus back to February 2020, that very month saw an exciting research collaboration between Cepheid and Sherlock Biosciences. Their joint effort revolved around the exploration of innovative molecular diagnostic tests. Harnessing Sherlock Biosciences' pioneering engineering biology platform, known as SHERLOCK™ – a remarkable CRISPR-based technology with the remarkable ability to pinpoint virtually any genetic target, the collaboration paved the way for the creation of novel tests compatible with Cepheid's GeneXpert® Systems. This partnership placed its primary emphasis on the development of molecular diagnostic tests, addressing both infectious diseases and oncology.
Key Segments Covered in the DNA Diagnostics Industry Survey:
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market.
Feb 13, 2024