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%.
DNA Sequencing Market Report Snapshots
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