Global Genome Sequencing Market 2027
Posted by Karthik Pilla on September 22nd, 2022
Bharat Book Bureau Provides the Trending Market Research Report on “Global Genome Sequencing Market, By Nucleotide Sequenced (DNA v/s RNA), By Technique (Next Generation Sequencing, PCR, Microarray Technology, Others), By Application (Diagnostics, Drug Discovery & Development, Precision Medicine, Others), By End User (Academic & Research Institutions, Pharmaceutical & Biotechnology Companies, Hospitals & Clinics, Others), By Region Competition Forecast and Opportunities, 2027” under the Life Sciences Market Research Report Category. The report offers a collection of superior Market research, Market analysis, competitive intelligence, and Market reports.
Global Genome Sequencing Market is anticipated to grow with an impressive CAGR during the forecast years on the grounds of growing technological advancement in genetic sequencing and bioinformatics. Surge in the demand for the advanced pharmaceuticals and evolving infectious diseases further drive the growth of the global genome sequencing market in the upcoming five years. With consistent supply of financial funds from the government and higher research scope in the technology also supports the growth of the global genome sequencing market in the next five years. Moreover, growing instances of cancer and increasing applications of next generation sequencing in cancer research, the entry of new players and start-ups in the genomics industry further substantiates the growth of the global genome sequencing market in the forecast years.
Genome sequencing is a form of genetic engineering tool that can be defined as the method of identification and analysis of the genetic material found in any living organisms. Sequencing is basically identifying the DNA or RNA mapping sequences to diagnose the function of the translated protein and its effect on the organisms. The genome sequencing helps in identifying the threat or the properties of the evolution of the organisms. The process becomes highly apt for the healthcare processes where identification of the disease causing microorganisms can be carried out and design effective pharmaceutical and therapeutics along with precision medicine to treat these diseases.
Pharmaceutical Evolution Drives Market Growth
Increasing instances of infectious diseases and surge in the demands for the effective vaccinations and pharmaceutical products actively drive the growth of the global genome sequencing market in the upcoming five years. Application of genome sequencing for drug discovery and development increased in the recent years owing to the pandemic conditions caused due to viral infection of COVID-19. Sudden demand for the vaccination and treatment pharmaceuticals and therapeutics further aided to the growth of the global genome sequencing market in the future five years.
Detailed study on the genome (RNA) of the SARS-CoV-2 virus was conducted and multiple market players with the financial aids from the government discovered effective vaccine against the infection. High investments, reliability of the procedure, along with the threat of lost lives due to COVID-19 played major role in the recent developments in the genome sequencing thereby substantiating the growth of the global genome sequencing market in the forecast years. Government authorities like National Institutes for Health in the United States invested USD4435 Million in total human genome project that would be utilized for the further advancement of genome sequencing procedures.
Diagnostic Advances Through Genome Sequencing
Genome sequencing also allows detailed diagnosis of the organisms and their functions. Advancement in the biotechnological procedures and microbiology studies add to the growth of the global genome sequencing market in the upcoming five years. Procedures like next generation sequencing might be expensive but it provides simultaneous analysis of many genomic loci while revealing the exact sequence changes. For the diagnosis of cancer at early stage and to identify the complication of the chronic disease, the process allows clinicians to test many genes of a cancer simultaneously. The process has multiple advantages like ultra-high throughput, scalability, and speed, thus stimulating further demands and substantiating the market growth. The process is also actively utilized in next generation therapeutics development.
Higher prevalence of genetic mutations and environmental factors that play right into evolving the DNA or RNA of the organisms, require highly capable procedures of sequencing such that advancing and evolving genomes could be mapped. Identification of organisms is not only beneficial in case of diseases, but also to map the variants of species alive, thereby academic growth in the sequencing further facilitates the growth of the global genome sequencing market in the upcoming five years.
The global genome sequencing market segmentation is based on nucleotide sequenced, technique, application, end user, regional distribution, and competitive landscape. Based on nucleotide sequenced, the market is differentiated between DNA and RNA. By technique, the market is further segmented into next generation sequencing, PCR, microarray technology, and others. Based on application, the market is bifurcated into diagnostics, drug discovery & development, precision medicine, and others. By end user, the market is fragmented into academic & research institutions, pharmaceutical & biotechnology companies, hospitals & clinics, and others. The market analysis also studies the regional segmentation, divided among Asia-Pacific region, North American region, European region, South American region, and Middle East & African region.
Thermo Fisher Scientific, Inc., Ilumina, Inc., QIAGEN N.V., Eurofins Scientific SE, Agilent Technologies, Inc., Oxford Nanopore Technologies Limited, F. Hoffmann-La Roche AG, Bio-Rad Laboratories, Inc., Abbott Laboratories, Inc., Danaher Corporation, are enlisted in a partial list of major market players of the global genome sequencing market.
Years considered for this report:
Historical Years: 2017-2020
Base Year: 2021
Estimated Year: 2022
Forecast Period: 2023–2027
In this report, global genome sequencing market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
•Genome Sequencing Market, By Nucleotide Sequenced:
•Genome Sequencing Market, By Technique:
oNext Generation Sequencing
oPolymerase Chain Reaction (PCR)
•Genome Sequencing Market, By Application:
oDrug Discovery & Development
•Genome Sequencing Market, By End User:
oAcademic & Research Institutions
oPharmaceutical & Biotechnology Companies
oHospitals & Clinics
•Genome Sequencing Market, By Region:
oMiddle East & Africa
Company Profiles: Detailed analysis of the major companies present in global genome sequencing market.
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