DNA sequencing is the method of finding out the sequences of four nucleotides that form a DNA strand. The sequence formed with the based-paired structure is used to store a vast amount of genetic information. Scientists can use the sequence information to determine the genes and regulatory instructions contained in the DNA molecule. For many years, DNA sequencing has been used in medicine for the diagnosis and treatment of diseases and epidemiology studies. Furthermore, DNA sequencing can be used for protecting and improving agriculture and the natural environment for humans and wildlife.
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Forecast Analysis of the North America DNA Sequencing Market
With the increasing availability, accessibility, and improvement of DNA sequencing in this region, the North America DNA sequencing market is expected to experience prominent growth during the analysis period. Besides, the strong presence of manufacturers of DNA sequencing, equipment, platforms, and technologies in this region is expected to fortify the growth of the market over the analysis period. Moreover, this region is overpowered by local and regional vendors that can gradually make a position in the market which is predicted to bolster the growth of the market in the estimated timeframe.
According to the report published by Research Dive, the North America DNA sequencing market is anticipated to generate a revenue of $9,154 million and grow at a healthy CAGR of 15.9% during the analysis timeframe from 2019 to 2025. The major players of the 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., and many more.
Key Developments of the North America DNA Sequencing Market
The key companies operating in the industry are adopting various growth strategies & business tactics such as partnerships, collaborations, mergers & acquisitions, and launches to maintain a robust position in the overall market, which is subsequently helping the North America DNA sequencing market to grow exponentially.
For instance, in February 2022, Element Biosciences Inc., a multi-disciplinary startup focused on innovating genetic analysis tools for research and diagnosis, partnered with Agilent Technologies, a leading American analytical instrumentation development, and manufacturing company. With this partnership, the companies aimed to provide greater access to genomic tools such as SureSelect target enrichment panels for greater accuracy and cost-effectiveness.
In August 2021, Illumina, Inc., a leading American company widely known for applying innovative technologies to the analysis of genetic variation and function, acquired GRAIL, a renowned American biotechnology company focused on early detection tests for multiple cancer. With this acquisition, the companies aimed to make available the test the maximum number of people as quickly as possible, save lives, and transform healthcare.
In August 2020, Ancestry Inc., a well-established American genealogy company, launched its new product named “AncestryHealth”, a new generation DNA sequencing tool, powered by Next Generation Sequencing (NGS) that can help consumers to access important information about their health conditions. This tool can provide comprehensive genetic screening of an expanded set of health conditions such as breast cancer, heart disease, colon cancer, and several blood disorders.
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U.S. to Dominate in the Region
The U.S. is expected to hold the maximum share of the market during the forecast period. This is mainly due to the supportive government initiatives and increasing incidences of cancers in the country. Moreover, the growing awareness of DNA sequencing among the population of the U.S. and the rising precautionary measures that are taken by healthcare providers to treat chronic diseases like cancer are predicted to drive the growth of the market during the analysis timeframe.
Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With unprecedented access to several paid data resources, a team of expert researchers, and a strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, and decades of trade data, and technical white papers, Research dive delivers the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting their major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major Market aficionado that further offers its research an edge.
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