Growing investments in the genetic engineering tools drive the growth of the Global Genome Sequencing Market.
According to TechSci Research report, “Genome Sequencing Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027” Global genome sequencing market is anticipated to hold an impressive CAGR for the future growth during the forecast years, on the account of growing demand for the effective pharmaceutical discoveries and vaccines. Technological advancement and increasing adoptions to bioinformatics and biotechnological processes further drive the growth of the global genome sequencing market in the upcoming five years. Growing demand for academic research over various organism identification and genome mapping for the new discovered organisms also support the growth of the global genome sequencing market in the next five years. Applications of the genome sequencing includes pharmaceutical discovery, easier manufacturing of the drugs, diagnostic purposes of the infectious diseases, etc. that aids the growth of the global genome sequencing market in the future five years.
Advancing technologies like next generation sequencing, whole genome sequencing, and growing investment on evolving and increasing their applicability further facilitates the growth of the global genome sequencing market in the forecast years. Also, growing demand for the personalized medicine and precision medicine formulated by DNA sequencing also adds to the market growth. The emergence of global-scale projects incorporating NGS protocols generates new foundational knowledge about oncology and related drugs and therapeutics. Rising instances of cancer and growing demand for the early diagnostics for cancer to identify the tumor at early stage and design precision medicine in accordance and save lives, further aids the growth of the global genome sequencing market in the forecast period, 2023-2027.
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The global genome sequencing market segmentation is based on nucleotide sequenced, technique, application, end user, regional distribution, and competitive landscape. Based on nucleotide sequenced, the market is differentiated between DNA and RNA. DNA, Deoxyribonucleic acid is anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years due to increasing demand for the new organism discoveries and growing academic research. Rising adoption of the PCR procedures also add to the growth of the segment followed by the growth of the global genome sequencing market in the next five years. RNA, Ribonucleic acid may hold fastest growing CAGR due to sudden outburst of COVID-19 infections. Pandemic situations further enhanced the RNA sequencing for the identification and understand the evolution of the viral nucleotide such that effective vaccines could be designed.
By technique, the market is further segmented into next generation sequencing, PCR, microarray technology, and others. Polymerase Chain Reaction, PCR is anticipated to hold the largest revenue shares of the market due to increasing demand for the sequencing and pharmaceutical advances. Expanding pharmaceutical industry supported with growing demand for the drug discovery and demands to identify evolution in the organisms further supports the segmental growth along with the growth of the global genome sequencing market in the future five years. Next generation sequencing is also anticipated to hold significant shares due to increasing academic applications in the recent years. Based on application, the market is bifurcated into diagnostics, drug discovery & development, precision medicine, and others. By end user, the market is fragmented into academic & research institutions, pharmaceutical & biotechnology companies, hospitals & clinics, and others. The market analysis also studies the regional segmentation, divided among Asia-Pacific region, North American region, European region, South American region, and Middle East & African region.
Some of the market players, dominating the global genome sequencing market are:
- Thermo Fisher Scientific, Inc.
- Ilumina, Inc.
- QIAGEN N.V.
- Eurofins Scientific SE
- Agilent Technologies, Inc.
- Oxford Nanopore Technologies Limited
- F. Hoffmann-La Roche AG
- Bio-Rad Laboratories, Inc.
- Abbott Laboratories, Inc.
- Danaher Corporation
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“North America region may dominate the regional analysis of the market with largest revenue share of the market. Growth in the region can be attributed to growing research and technological development in the biotechnology sector in the large economies like the United States, Canada, etc. Continuous technological developments by key players, high investment in R&D, and availability of technologically advanced healthcare infrastructure support the regional advancing market in the future years. Concerns over increasing instances of infectious diseases and demands for the effective vaccinations and medicines are further aiding the growth of the global genome sequencing market. Moreover, the government is highly invested in the research and advancing the sequencing processes to diagnose various infectious diseases and academic research further aids to the market growth,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Genome Sequencing Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027 Segmented By Nucleotide Sequenced (DNA v/s RNA), By Technique (Next Generation Sequencing, PCR, Microarray Technology, Others), By Application (Diagnostics, Drug Discovery & Development, Precision Medicine, Others), By End User (Academic & Research Institutions, Pharmaceutical & Biotechnology Companies, Hospitals & Clinics, Others), By Region”, has evaluated the future growth potential of global genome sequencing and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global genome sequencing market.
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