DNA SEQUENCING MARKET ANALYSIS

DNA Sequencing Market, by Product Type (Consumables, Instruments, and Services), by Technology (Sanger Sequencing, Next-Generation Sequencing, Third- Generation DNA Sequencing, and Others), by Application (Oncology, Reproductive Health, Clinical Investigation, Agrigenomics & Forensics, Metagenomics, Epidemiology & Drug Development, and Others), by End User (Hospitals & Clinics, Pharmaceutical & Biotechnology Companies, Clinical Research, and Others), by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)

Published In : Feb 2023
Code : CMI5531
Pages :208
Formats :
Excel and PDF
Industry : Pharmaceutical

Market Challenges And Opportunities

Global DNA Sequencing Market- Driver

Increasing research and development activity

The DNA sequencing is used in research and development of drugs. Thus, increasing research and development activity by key players in the market to expand their product portfolio, is expected to drive the market growth over the forecast period. For instance, in January 2022, a rare genetic disorder was diagnosed in an average of 8 hours, using a new ultrafast genome sequencing approach developed by scientists at Stanford University School of Medicine and their collaborators. Genome sequencing allowed scientists to see a patient's complete DNA structure, this included information on everything such as from eye color to genetic diseases. Genome sequencing is essential in diagnosing patients with DNA-rooted diseases.

Global DNA Sequencing Market: Restraint

The high cost of DNA Sequencing

The major factors that can hamper growth of the global DNA sequencing market over the forecast period include high cost of DNA sequencing, lack of specific expertise, disadvantages such as data generation on a large scale, decreased raw accuracy in homology. For instance, in November 2021, according to the data provided by National Human Genome Research Institute, the estimated cost for human genome sequence is ~US$300 million globally, of which National Institute of Health (NIH) provided roughly 50-60%.