LONDON, Dec. 17, 2016 /PRNewswire/ -- Key Findings
The global DNA sequencing market is poised to grow during the forecast period of 2017-2023. Various reasons for growth of the DNA sequencing market are increase in demand for noninvasive detection, disease diagnosis and personalized treatment, decreasing costs of DNA sequencing and higher research and spending by biotechnology companies.
DNA sequencing is the method of identifying the precise sequence of nucleotides present in the DNA. DNA sequencing can be carried by various technologies, which are basically biochemical methods. The nucleotides in the DNA molecule are adenosine, cytosine, guanine and thymine. A person's DNA sequence contains information about personality traits, genetically determined illness and IQ level. This data can give the individual and physicians a very clear picture about the person's genetic information and help in providing personalized treatment, which will be most effective. This method will have a beneficial impact on other sciences like genetics, anthropology, forensic science, archeology, biotechnology and molecular biology.
DNA sequencing market is segmented on the basis of geography, technology, application and end user. Various technologies for DNA sequencing are Sequencing by Synthesis (SBS); ION Semiconductor Sequencing; Sequencing by Ligation (SBL), Pyrosequencing, Single-Molecule Real-time Sequencing (SMRT) and other technologies. Classification on the basis of application is drug discovery, diagnosis, biomarker discovery, personalized medicine, agriculture and medical research and others. End user segments are research centers and academic & government institutes; hospitals & clinics; pharmaceutical & biotechnology companies; and, some others like NPO, agri genomics organizations, consumer genomic companies.
Market drivers for DNA sequencing are growth in demandfor noninvasive detection, disease diagnosis and personalized treatment, decreasing costs of DNA sequencing and higher research and spending by biotechnology companies.
Highest demand for DNA sequencing is from research and academic institutes. It is expected that this demand will continue in the forecast period and this will be the highest growing segment. Growth will also be fuelled by personalized medicine and biomarker discovery.
Factors that will restrain market growth are faster changes in technology, increase in competition, rising complexity of diseases, issues related to public health and safety and higher research and development costs.
Market regions that are covered in the report are North America, Europe, Asia-Pacific and RoW. North America has the largest market share of the DNA sequencing market followed by Europe. Factors, which favor growth of DNA sequencing market, are better healthcare infrastructure, awareness about latest technologies, major biotechnology companies being based in this region and government initiatives for increasing research and development.
Asia-Pacific market is expected to report good growth in the forecast period due to higher awareness and demand for personalized medicine.
The major market players for DNA sequencing 23andMe, Inc., Agilent Technologies, Inc., Asuragen, Inc., Athena Diagnostics, Inc., Cellular Research, Inc., Sure Genomics, Inc., Thermo Fisher Scientific, Inc., Thorne Diagnostics, Inc., Ubiquity Genomics, Inc. and Wafergen Bio-Systems. Established companies have a good hold on the DNA sequencing market due to high cost of investment needed to enter and sustain in the market. Companies are forming alliances and are going for mergers and acquisitions to strengthen their market position. Organizations are investing in research and development to come up with novel and innovative products that will capture new market share.
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