DNA SEQUENCING MARKET ANALYSIS
Global DNA sequencing market is estimated to be valued at US$ 6,802.2 million in 2023 and is expected to exhibit a CAGR of 11.7% during the forecast period (2023-2030).
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.
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