According to the research report titled ‘Global DNA Sequencing Market 2021-2028’, available with Market Study Report, global DNA sequencing market is anticipated to record a CAGR of 4.62% throughout 2021-2028.
 

Growing prevalence of cancer in recent years is a major factor driving the growth of global DNA sequencing market growth. Moreover, advancements in technology, coupled with increasing applications of DNA sequencing for animal & plant reproduction are augmenting the market outlook.
 

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Wide scope for research and development in DNA sequencing, alongside significant growth in genome mapping programs are generating lucrative opportunities for the development of the market over the forecast timeframe.
 

On the downside, limitations associated with diagnostic testing is majorly restraining the market growth. Additionally, lack of skilled professionals in developing economies is further hampering the market progression over the estimated timeline.
 

Based on product type, worldwide DNA sequencing industry is segmented into sequencing services, instruments & consumables, and bioinformatics. Considering technology ambit, the marketplace is divided into ion semiconductor sequencing, sequencing by synthesis, pyrosequencing, chain termination sequencing, sequencing by ligation, nanopore sequencing, single-molecule real-time sequencing, and others.
 

Speaking of application range, the business space is categorized into biomarker discovery, reproductive health, drug discovery, diagnostics, personalized medicine, forensics, agriculture & animal research, and other applications. Whereas, different end-use industry verticals include hospitals & clinics, biotechnology companies, pharmaceutical, academic & government institutes and research centers, and others.
 

Expert analysts speculate that Asia Pacific market is reckoned to showcase significant growth over the forecast timeline, owing to various applications of DNA sequencing technology in segments like animal breeding and agriculture. The agricultural sector contributes significantly to the economic growth of many countries, thus augmenting the regional growth.
 

Prominent players influencing the global DNA sequencing industry dynamics are Merck KGaA, Illumina Inc., F. Hoffmann-La Roche AG, Eurofins Scientific SE, Danaher Corp. (Integrated DNA Technologies), Bio-Rad Laboratories Inc., BGI Genomics, Asuragen Inc., Agilent Technologies Inc., Adaptive Biotechnologies Corp., Thermo Fisher Scientific Inc., Spiral Genetics Inc., Siemens Healthineers AG, Pacific Biosciences of California Inc., and PerkinElmer Inc.