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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).

In 2021, the top companies in the worldwide DNA sequencing market are Illumina, Inc., Thermo Fisher Scientific, Agilent Technologies, QIAGEN, and Perkin Elmer. These businesses engage heavily in production, distribution, and complete quality control in order to expand their portfolio while also attempting to meet the growing consumer demand. For instance, Face2Gene LABS was launched in June 2021 by PerkinElmer, Inc. and FDNA, an artificial intelligence startup, to offer genomic services in conjunction with Next-Generation Phenotyping (NGP) technologies for more precise and effective diagnosis. By providing effective genomic testing alternatives of the highest calibre, this project demonstrated Perkin Elmer's dedication to the diagnosis of patients with genetic and uncommon illnesses. The following are a few of the leading companies in the DNA sequencing market: 'Illumina, Inc.', 'Thermo Fisher Scientific, Inc.', 'Pacific Biosciences of California Inc.', 'BGI Group', 'Oxford Nanopore Technologies Ltd.', 'Qiagen N.V.', 'F. Hoffmann-La Roche Ltd.', 'PerkinElmer Inc.', 'Agilent Technologies, Inc.', 'Eurofins Scientific SE', 'Zymo Research Corp.', 'Hamilton Company', 'Genewiz Inc.', 'Macrogen Inc.', 'DNASTAR Inc.', 'GENEWORLD', 'Bio-Rad Laboratories Inc.', 'BioChain Institute Inc.', 'Beckman Coulter Inc.', 'Novogene Corporation'

Growing clinical symptoms are thought to represent viral infections in recent years, but utilizing conventional culture procedures or molecular techniques to identify the virus that is causing them is getting more challenging. In the past, the random sequencing of viral genomes has aided in the discovery of novel viruses. These methods continue to grow in popularity at the present. The significance of DNA sequencing has increased due to its primary usage in viral identification.

Although genomics only began to be used in medicine 50 years ago, technology has advanced significantly since then. The conventional two-dimensional chromatography required a lot of time. Fluorescent-based sequencing techniques, however, are now available and are very quick to run thanks to technological improvements. While a full genome today only costs a few thousand dollars, laboratories perform over 100,000 billion sequencing operations annually. The key factors driving the growth of the DNA sequencing industry are the procedure's decreased costs and time requirements.

With a revenue share of 44.3 % in 2021, North America dominated the market for DNA sequencing. North America currently holds the largest market share for DNA sequencing due to ongoing technological advancements made by key players, significant R&D spending, and the availability of technologically advanced healthcare infrastructure. The development of new cancer treatments and medications is supported by a number of government programs in the United States and Canada. For instance, the BC Cancer Foundation's Personalized Onco-Genomics initiative, which is a part of the Provincial Health Services Authority in British Columbia, Canada, uses transcriptome and whole-genome analysis to identify the cancer genes and the medications that go with them. These medications have the ability to block important pathways in cancer patients. These open-source initiatives should increase the use of these technologies in the area.

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Global DNA Sequencing Market

Product ID: SQSG35H2013

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