DNA Sequencing Market to Reach $25.47 Billion by 2025: AMR
PORTLAND, Oregon, Feb. 17, 2020 /PRNewswire/ -- Allied Market Research recently published a report, titled, "DNA Sequencing Market by Product (Consumable, Instrument, and Service), Application (Biomarkers and Cancer, Diagnostics, Reproductive Health, Personalized Medicine, Forensics, and Others), Technology (Sequencing by Synthesis, Ion Semiconductor Sequencing, Sequencing by Ligation, Pyrosequencing, Single Molecule Real-time Sequencing, Chain Termination Sequencing, and Nanopore Sequencing), and End User (Academic & Government Research Institutes, Pharmaceutical Companies, Biotechnology Companies, and Hospitals & Clinics): Global Opportunity Analysis and Industry Forecast, 2017-2025." According to the research, the global DNA sequencing market generated $9.05 billion in 2019, and is estimated to reach $25.47 billion by 2025, growing at a CAGR of 19.0% from 2018 to 2025.
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Technological advancements, increase in applications of DNA sequencing, rise in collaborations & partnerships, and rise in genome mapping programs drive the growth of the global DNA sequencing market. However, scarcity of skilled professionals and concerns related to standardization of DNA sequencing-based diagnostics hinder the market growth. On the other hand, acceptance of cloud computing as potential data management service along with untapped potential in emerging economies create new opportunities.
Based on product, the consumables segment accounted for the highest market share in 2018, holding more than half of the global DNA sequencing market. This segment is estimated to maintain its dominant share during the forecast period. However, the platforms segment is expected to register at the highest CAGR of 22.0% from 2018 to 2025. The research also analyzes the services segment.
Based on application, the biomarkers and cancer segment contributed to the highest share in 2018, accounting for more than one-third of the market. However, the personalized medicine segment is expected to register the fastest CAGR of 26.7% from 2018 to 2025.
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Based on technology, the sequencing by synthesis segment accounted for the largest share in 2018, accounting for more than one-fifth of the market, and is expected to maintain its dominance during the forecast period. However, the pyrosequencing segment is estimated to portray the highest CAGR of 27.2% during the forecast period.
On the basis of region, North America held more than two-fifths of the global DNA sequencing market and is estimated to maintain its lead position throughout the forecast period. However, Asia-Pacific is expected to witness the highest CAGR of 24.1% during the forecast period.
Leading market players analyzed in the report include Abbott Laboratories, Danaher Corporation (Beckman Coulter, Inc.), Agilent Technologies, Inc., Illumina, Inc., F. Hoffmann-La Roche Ltd., Pacific Biosciences of California, Inc., LI-COR Biosciences, Inc., PerkinElmer Inc., Siemens AG, and Thermo Fisher Scientific, Inc.
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