DNA Sequencing Market Size Worth $11.2 Billion By 2027 l CAGR: 11.4%: Grand View Research, Inc.

DNA Sequencing Market Size Worth $11.2 Billion By 2027 l CAGR: 11.4%: Grand View Research, Inc.

PR Newswire

SAN FRANCISCO, Sept. 29, 2020

SAN FRANCISCO, Sept. 29, 2020 /PRNewswire/ -- – The global DNA sequencing market size is expected to reach USD 11.2 billion by 2027, expanding at a CAGR of 11.4%, according to a new report by Grand View Research, Inc. The incorporation of Artificial Intelligence (AI) has increased the utility of genomic data in clinical practices and thus creates a new frontier in the advancement of genomic data analysis. In May 2020, Nvidia Corporation developed new AI tools, genomic sequencing software, and speech recognition technologies to aid the COVID-19 research efforts. Thus, AI accelerates the variant annotation and prioritization in the clinical diagnosis, which drives the market.

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Key suggestions from the report:

Read 250 page research report with ToC on "DNA Sequencing Market Size, Share & Trends Analysis Report By Product, By Technology, By Workflow, By Application (Oncology, HLA Typing, Clinical Investigation), By End-use, By Region, And Segment Forecasts, 2020 - 2027'' at: https://www.grandviewresearch.com/industry-analysis/dna-sequencing-market

Since the completion of the Human Genome Project, the DNA sequencing cost has declined precipitously. The cost of decoding one person's genome was around USD 50,000 a decade ago and currently has reached nearly USD 600 in the largest genomic centers. Recently, in February 2020, BGI claimed to reduce the cost to sequence the genome to USD 100. This is expected to expand the use of this technology for prenatal tests, cancer screening, and research studies.

With a significant decrease incost coupled with the availability of funding, several start-ups have entered the market. For instance, in January 2020, Omniome, a startup firm from the U.S., raised USD 60.0 million in Series C financing to speed up the late-stage product development and product launch of its genetic sequencing platform, which consequently fuels market progression. 

Grand View Research has segmented the global DNA sequencing market based on product and services, technology, workflow, application, end-use and region:

List of Key Players of DNA Sequencing Market

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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