Product ID: SQSG35H2013
Report ID:
SQSG35H2013 |
Region:
Global |
Published Date: February, 2024
Pages:
165
|
Tables:
126 |
Figures:
77
Global DNA Sequencing Market size was valued at USD 10.5 billion in 2019 and is poised to grow from USD 12.29 billion in 2023 to USD 44 billion by 2031, growing at a CAGR of 17.12% in the forecast period (2024-2031).
The discovery of DNA variants has been made possible by quick developments in bioinformatics and sequencing technologies. These developments also identify variations linked to a higher risk of disease. The efficacy of DNA sequencing in clinical diagnosis applications is increased by the widespread use of Next-generation sequencing (NGS) and whole-genome sequencing (WGS), which allow several genes to be examined simultaneously on a single diagnostic platform. The development of pharmacological treatments for cancer is accelerated by personalised targeted sequencing of tumours, which also discovers cancer targets or pathways. The introduction of large-scale initiatives utilising NGS techniques produces fresh fundamental understanding of oncology precision therapy.
In December 2021, CVS Health unveiled Transform Oncology Care, a precision medicine initiative that makes use of genetic technologies to provide individualised cancer treatment regimens. The desire for these technologies in large-scale, rapid genome sequencing initiatives to monitor the viral propagation and inform future treatments has been driven by an exponential increase in COVID-19 patients. In collaboration with Illumina, the National Health Service of the UK, Genomics England, and Genetics of Mortality in Critical Care will provide whole-genome sequences of 35,000 UK residents who have COVID-19 in May 2021. This increases the need for DNA sequencing in the diagnosis of COVID-19.
DNA sequencing, a highly accurate and high-throughput method utilised for a range of applications including de novo assembly, WGS, and DNA resequencing, has caused a paradigm change in proteomic and genomic research. As a result, this technology is easily used for research studies in many academic research centres. At the Whitehead Institute for Biomedical Research in Massachusetts, the US, Illumina installed the NovaSeq 6000 Sequencing System in June 2021. The market for DNA sequencing is driven by initiatives done by the Centers for Medicare and Medicaid Services (CMS), Association for Molecular Pathology, as well as private payers like Blue Cross Blue Shield and Aetna to increase the clinical utilisation of sequencing technology. For instance, in January 2021, CMS increased the coverage of NGS-based diagnostic tests for those with ovarian and breast cancer, giving patients greater options to tailor their cancer treatment.
US DNA Sequencing Market is poised to grow at a sustainable CAGR for the next forcast year.
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REQUEST FREE CUSTOMIZATIONGlobal DNA Sequencing Market size was valued at USD 10.5 billion in 2019 and is poised to grow from USD 12.29 billion in 2023 to USD 44 billion by 2031, growing at a CAGR of 17.12% in the forecast period (2024-2031).
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Product ID: SQSG35H2013