Global DNA Sequencing Market Report 2023: Forecast Market Size, Growth Rate And Key Drivers
24 Nov, 2023
The global DNA sequencing market is expected to grow from $10.24 billion in 2022 to $11.84 billion in 2023 at a compound annual growth rate (CAGR) of 15.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and resulted in increased interest rates affecting many markets across the globe. The DNA sequencing market is expected to reach $20.9 billion in 2027 at a CAGR of 15.3%.
Global DNA Sequencing Market Key Driver
The increasing prevalence of cancer is anticipated to drive the growth of the DNA sequencing market in the future. Cancer, characterized by uncontrolled cell growth affecting various organs, poses a significant global health challenge with substantial morbidity and mortality. DNA sequencing plays a pivotal role in identifying genetic mutations, comprehending tumor biology, and guiding treatment decisions, ultimately leading to enhanced outcomes in cancer care.
Get a sample of the global DNA sequencing market reportGlobal DNA Sequencing Market Segments
The global DNA sequencing market is segmented:
1) By Product: Instruments; Consumables; Services
2) By Technology: Third Generation DNA Sequencing; Next-Generation Sequencing; Sanger Sequencing
3) By Application: Diagnostics; Biomarkers And Cancer; Reproductive Health; Personalized Medicine; Forensics; Other Applications
4) By End User: Hospitals And Healthcare Organizations; Academics And Research Institutions; Pharmaceutical And Biotechnology Companies; Other End Users
5) By Geography: The regions covered in the DNA sequencing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. Among these regions, North America accounts for the largest share in the global DNA sequencing market.
Major DNA Sequencing Industry Players
DNA Sequencing Market Overview
DNA sequencing refers to determining a DNA molecule's precise order or sequence of nucleotides (adenine, cytosine, guanine, and thymine). It is a fundamental molecular biology and genetics technique that allows scientists to unravel the genetic code within an organism's DNA.
DNA Sequencing Global Market Report 2023 provides data on the global DNA sequencing market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The DNA sequencing market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.