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Focus on Treatment of Genetic Maladies to Help Global DNA Sequencing Market Reach $28 Billion by 2024

A new market forecast report published by Inkwood Research has projected a CAGR of 22.75% for the Global DNA Sequencing market which will help the market to grow from $6791 million in 2016 to $27290 million by 2024. The base year for this study has been taken as 2016, while the forecasting period is from 2017 through 2024.

Boston, MA, April 09, 2017 --( The primary reason attributed to the widespread uptake of DNA sequencing is the add up in the occurrence of genomic diseases, such as cancer, and the research that surrounds it. The Human Genome Project, aimed at determining the sequence of molecules and base pairs that make up human DNA, and thereby at understanding and verifying the sequencing from both a physical as well as functional outlook, has also acted as a booster for the growth of the market.

Besides, end users such as hospitals as well research institutes, as well as pharmaceutical and biotechnology firms are using this technique to consistently come up with newer and more targeted ways of treatment of ailments and delivery of drugs respectively. The increase in this downstream industry demand, hence, is also acting as a significant game changer in the development of this market.

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Diagnostic Application has highest market share, newer avenues to the market
It is possible to segment this market according to the primary applications that the technique will be used for. Some of the primary applications for the DNA sequencing market are not limited to diagnostic but also include biomarker discovery, drug discovery, personalized medicine etc. Predictably, while diagnostic applications are the predominant leader in the market, DNA Sequencing’s power to classify diseases and segregate their treatment mechanisms have opened newer avenues for many other niche applications.

The Human Genome Project is also serving to further consolidate the supply chain both in terms of supply of information upstream as well as demand thereof in the downstream industries. DNA Sequencing is also now being predominantly used in agriculture to create pest-resistant crops etc.

North America largest market with more than 50% market share
Increasing geriatric population, along with increased dependence on a genetic modification for healthcare has ensured that North America holds the top position in the world DNA Sequencing Market.

However, rising prevalence of lifestyle diseases such as diabetes, along with cancer especially in the two populous countries of China and India has placed the APAC region as the fastest growing geography.

Some of the key players in the DNA Sequencing Market include WaferGen Bio-Systems, Roche Diagnostics, Illumina, Adaptive Biotechnologies, Thermo Fisher Scientific andAgilent Technologies. India holds a significant key to the growth of this market, as it houses the largest market for genetic engineering as a tool for improving animal husbandry.

The Global DNA Sequencing Market Forecast Report forecasts growth of the market and elaborates upon its major revenue drivers and possible events that drive growth. As a market loads with competition, it also focuses on challenges and threats faced by major players, and tactics deployed to improve their presence in the market.

About Inkwood Research
Inkwood Research specializes in syndicated & customized research reports and consulting services.

Market intelligence studies with relevant fact-based research are customized across industry verticals including technology, automotive, chemicals, materials, healthcare, and energy with objective comprehension acknowledging the business environments. Our geographical analysis comprises of North & South America, CEE, CIS, Middle East, Europe, Asia, and Africa.

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