Dublin, Sept. 22, 2022 (GLOBE NEWSWIRE) -- The "Global Genome Sequencing Market, By Nucleotide Sequenced (DNA v/s RNA), By Technique (Next Generation Sequencing, PCR, Microarray Technology, Others), By Application, By End User, By Region Competition Forecast and Opportunities, 2027" report has been added to ResearchAndMarkets.com's offering.
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.
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.
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:
Next Generation Sequencing
Polymerase Chain Reaction (PCR)
Genome Sequencing Market, By Application:
Drug Discovery & Development
Genome Sequencing Market, By End User:
Academic & Research Institutions
Pharmaceutical & Biotechnology Companies
Hospitals & Clinics
Genome Sequencing Market, By Region:
Middle East & Africa
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Executive Summary
4. Impact of COVID-19 on Global Genome Sequencing Market
5. Voice of Customer
6. Global Genome Sequencing Market Outlook
7. North America Genome Sequencing Market Outlook
8. Europe Genome Sequencing Market Outlook
9. Asia-Pacific Genome Sequencing Market Outlook
10. South America Genome Sequencing Market Outlook
11. Middle East and Africa Genome Sequencing Market Outlook
12. Market Dynamics
13. Market Trends & Developments
14. Competitive Landscape
15. Strategic Recommendations
Thermo Fisher Scientific, Inc.
Eurofins Scientific SE
Agilent Technologies, Inc.
Oxford Nanopore Technologies Limited
F. Hoffmann-La Roche AG
Bio-Rad Laboratories, Inc.
Abbott Laboratories, Inc.
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