Genome Sequencing Market Is Led by Advancing Biotechnology
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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Global Genome sequencing Market"
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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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