North America DNA Sequencing Market Expected to Reach $9,145 Million, by 2025Download Sample Reports Overview
According to a new report published by Research Dive,titled,"North America DNA Sequencing Market by product, application, technology and end user: Opportunity Analysis and Industry Forecast, 2019–2025”,the North America DNA Sequencing market size was valued at $3,256 million in 2018, and is projected to reach $9,145 million by 2025, growing at a CAGR of 15.9% from 2019 to 2025.
DNA sequencing is a molecular technique that helps to determine the nucleotide sequence of deoxyribonucleic acid (DNA), which is the fundamental unit of a gene or genome. DNA sequencing has led to a paradigm shift in molecular biology and genomics sectors. The knowledge of DNA sequences of genes and other parts of the genome of organisms has gained prominence in life science research as well as in applied fields, such as forensics, cancer diagnostics, and others. DNA sequencing is used for sequencing DNA strands and whole genomes as well as to study various DNA–protein interactions. Moreover, this technique enables researchers to focus, study, and interpret deep sequence target regions.
Furthermore, it is utilized in various interventions such as oncology, biomarker studies, drug discovery, reproductive health, and personalized genomics. The growth of the global DNA sequencing market is driven by technological advancements in sequencing equipment, surge in applications of DNA sequencing, and increase in genome mapping programs. In addition, rise in awareness pertaining to DNA sequencing and increase in investment in research, development, and innovation have supplemented the market growth. However, dearth of skilled professionals, ethical & legal limitations related to DNA sequencing, and standardization concerns in sequencing procedures impede the market growth.
Based on product, the consumable segment acquired the largest North America DNA sequencing market share in 2018 and constitute a dominant share in 2025 due to the use and necessity in sample preparation and in pre-requisite stages of DNA sequencing. The biomarker and cancer segment is the highest contributor to the North America DNA sequencing as a result of technological advancements and increase in DNA sequencing applications. The personalized medicine segment is anticipated to be a lucrative segment owing to the rise in use of precision medicine wherein the treatment takes in account the individual’s variation in the genes, lifestyle and environment. Therefore, these factors contribute toward the growth of the North American DNA sequencing market.
According to technology, the sequencing by synthesis segment was the highest contributor to the North America DNA sequencing market owing to the wide use of DNA sequencing platforms in sequencing protocols and is likely to continue the dominance throughout the forecasting period. Moreover, the research institute segment was the highest contributor to the North America DNA sequencing in 2018 and is occupying the largest share in the North American DNA sequencing market due to the presence of large number of research centers in this region and ongoing research.
In 2018, U.S. occupied the largest share of the North America DNA sequencing market and is expected to maintain its dominance during the forecast period owing to the presence of DNA sequencing giants in this region and the rising incidences of genetic disorders and cancers amongst the population. On the other side, Mexico is estimated to register the fastest growth during the forecast period.
KEY FINDINGS OF THE STUDY
- The pediatrics segment accounted for more than half of the market share in 2018.
- U.S. and Canada collectively accounted major share of the North America DNA sequencing market in 2018 and is expected to maintain this trend throughout the forecast period.
- The pharmaceutical company in the end user segment is anticipated to grow at a high CAGR from 2018 to 2025.
- The biomarker and cancer segment accounted major able share of the market in 2018.