New York, USA, June 28, 2022 (GLOBE NEWSWIRE) — According to a report published by Research Dive, the is envisioned to generate a revenue of $9,154 million and rise at a noteworthy CAGR of 15.9% during the forecast timeframe from 2019 to 2025.
As per our analysts, the growing trends of DNA sequencing in the personalized genomics for treating genetic disorders and various other diseases, the North America DNA sequencing market is expected to experience exponential growth during the analysis period. Besides, the increasing need for DNA sequencing for identifying and understanding forensics, genetic profiling, pharmacogenomics, and genetic diseases is further expected to bolster the growth of the market over the forecast period. Moreover, the increasing advancements in the DNA sequencing procedures and rising prevalence of prenatal disorders and cancers among people across the North America region are expected to augment the growth of the North America DNA sequencing market throughout the estimated period. However, the lack of skilled professionals and the ethical & legal limitations related to DNA sequencing may hamper the growth of the market during the forecast period.
Segments of the North America DNA Sequencing Market
The report has divided the market into segments based on product, application, technology, end-user, and region.
Product: Consumable Sub-Segment to be Most Productive
The consumable sub-segment is expected to hold the largest share of the market during the analysis period. The increasing use and necessity in sample preparation and pre-requisite stages of DNA sequencing are expected to uplift the growth of the market sub-segment over the forecast timeframe.
Application: Biomarker & Cancer Sub-Segment to be Most Profitable
The biomarker & cancer sub-segment is predicted to hold the maximum share of the market over the estimated timeframe. The increasing technological advancements and increase in DNA sequencing applications are expected to amplify the growth of the market sub-segment during the analysis period.
Technology: Synthesis Sub-Segment to be Most Lucrative
The synthesis sub-segment accounted for the largest revenue in 2018 and is expected to grow with the highest CAGR throughout the forecast period. The increasing use of DNA sequencing platforms in sequencing protocols is predicted to propel the growth of the market sub-segment during the estimated period.
End-User: Research Institutes to be Most Beneficial
The research institute is expected to occupy the largest share of the market over the forecast timeframe. The presence of a larger number of research centers and ongoing research in this region is the factor expected to fuel the growth of the North America DNA sequencing market’s sub-segment during the analysis period.
Region: U.S. to Hold the Largest Share in the North America DNA Sequencing Market
The U.S. is expected to generate the largest share of the market during the forecast timeframe. The increasing supportive government initiatives and rising cases of cancers in this region are expected to drive the regional growth of the market during the forecast period.
Key Players of the Market
The major players in the North America DNA sequencing market include
- Myriad Genetics, Inc.
- Abbott Laboratories
- Bio-Rad Laboratories, Inc.
- Agilent Technologies Inc.
- ZS Genetics, Inc
- Danaher Corporation
- Thermo Fisher Scientific Inc.
- Illumina, Inc.
- Pacific Biosciences of California, Inc.
- LI-COR Biosciences, Inc.
These players are broadly working on the development of new business strategies such as mergers and acquisitions, partnerships and collaborations, and product development to obtain a leading position in the industry.
For instance, in August 2020, Ancestry Inc., a leading American-based genealogy company, launched its new product named “AncestryHealth”, which is a new generation DNA sequencing product. This particular product can screen the genes of users associated with heart disease, blood disorders, breast cancer, and colon cancer.
Further, the report also presents other vital aspects such as product portfolio, the financial performance of the key players SWOT analysis, and the latest strategic development.
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