The global DNA Sequencing Market is estimated to be valued at US$ 6,802.2 million in 2023 and is expected to exhibit a CAGR of 11.7% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The DNA sequencing market encompasses the technologies used to determine the precise order of nucleotides in a DNA molecule. The rapid advancements in next-generation sequencing (NGS) technology have revolutionized the field of genomics. NGS technology enables faster and cost-effective sequencing, driving its demand in applications such as personalized medicine, oncology research, and agriculture. The accurate and comprehensive genetic information obtained through DNA sequencing plays a crucial role in disease diagnosis, drug discovery, and analyzing genetic variations.
Market Key Trends:
One key trend in the DNA sequencing market is the increasing demand for next-generation sequencing (NGS) technology. NGS offers higher throughput, improved accuracy, and reduced cost per base. It enables comprehensive analysis of genetic variations, gene expression, and epigenetic changes. The rising adoption of NGS technology in various research areas, including genomics, transcriptomics, and metagenomics, is expected to drive market growth. Additionally, technological advancements, such as long-read sequencing platforms and single-molecule sequencing, are further propelling the demand for DNA sequencing. The need for faster and accurate diagnosis of genetic disorders and the growing focus on precision medicine are also contributing to the market growth of DNA sequencing technologies.
Porter’s Analysis
· Threat of new entrants: The threat of new entrants in the DNA Sequencing market is relatively low. The capital requirements for setting up a DNA Sequencing facility are high, which acts as a barrier for new players. Additionally, the presence of well-established key players in the market further reduces the threat of new entrants.
· Bargaining power of buyers: The bargaining power of buyers in the DNA Sequencing market is moderate. This is because there are limited options for buyers when it comes to DNA Sequencing services, as the market is dominated by a few key players. However, buyers still have the power to negotiate prices and demand high-quality services.
· Bargaining power of suppliers: The bargaining power of suppliers in the DNA Sequencing market is relatively low. The key players in the market have strong relationships with their suppliers, giving them the advantage of negotiating favorable terms. Additionally, there are multiple suppliers of sequencing technologies and reagents, giving the buyers options to switch if needed.
· Threat of new substitutes: The threat of new substitutes in the DNA Sequencing market is low. DNA Sequencing is an essential technology in various fields, including healthcare, agriculture, and research. Currently, there are no viable substitutes for DNA Sequencing that can provide the same level of accuracy and reliability.
· Competitive rivalry: The competitive rivalry in the DNA Sequencing market is high. The market is dominated by key players such as Thermo Fisher Scientific, Inc., Illumina, Inc., and PerkinElmer Genomics. These companies compete on factors such as product quality, technological advancements, and pricing strategies. The high level of competition in the market drives innovation and leads to continuous improvements in sequencing technologies.
Key Takeaways
The Global DNA Sequencing Market Size is expected to witness high growth, exhibiting a CAGR of 11.7% over the forecast period of 2023-2030. This growth is primarily attributed to the increasing adoption of DNA Sequencing technologies in various applications, including personalized medicine, genetic testing, and drug discovery.
In terms of regional analysis, North America is expected to be the fastest-growing and dominating region in the DNA Sequencing market. This can be attributed to the presence of key players in the region, advancements in genetic research, and favorable government initiatives promoting DNA Sequencing technologies.
Key players operating in the DNA Sequencing market include Thermo Fisher Scientific, Inc., Illumina, Inc., PerkinElmer Genomics, QIAGEN, Agilent Technologies, Inc., F. Hoffmann-La Roche Ltd, Macrogen, Inc., Abbott, PacBio, Zymo Research Corporation, Oxford Nanopore Technologies plc, Tecan Trading AG, Hamilton Company, ZS Genetics, Inc., and LI-COR, Inc. These key players have a significant market share and are continuously investing in research and development to stay competitive in the market.
Read more - https://www.insightprobing.com/dna-sequencing-market-share-and-size-analysis/
The DNA Sequencing market research report provides the latest industry data, growth, key segments and future trends on the basis of the detailed study.
This market report also allows you to identify the future opportunity and growth rate of the leading segment based on regions and countries.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the DNA sequencing market include Microchip Biotechnologies, Beckman Coulter (Fullerton, CA), Abbott Laboratories, GE Healthcare Life Sciences, Johnson & Johnson, Commonwealth Biotechnologies, ZS Genetics, Agilent Technologies, Siemens AG, Pacific Biosciences, Myriad Genetics, Bayer Corporation, Integrated DNA Technologies, 454 Life Sciences, Hamilton Thorne Biosciences, LI-COR Biosciences.
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global DNA Sequencing Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/dna-sequencing-market/download-sampleMarket DynamicsThe rapid advancements in sequencing technology and bioinformatics are the primary factors driving the DNA sequencing market over the forecast time frame.
The constant growing application areas of DNA sequencing techniques along with increase in cancer research activities, technological advancement, and funding by the governmental agencies for research activities are likely to provide profitable growth opportunities for key players in the market.The report covers Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis.
These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level.Additionally, these tools also give inclusive assessment of each application/product segment in the global market of DNA sequencing.Browse Global DNA Sequencing Market Research Report with detailed TOC at https://www.valuemarketresearch.com/report/dna-sequencing-marketMarket SegmentationThe entire DNA sequencing market has been sub-categorized into product, application, techniques and end-user.
