The DNA Diagnostics Market generated US$ 20.9 billion in 2021 and is anticipated to grow by 9.6% year over year to reach US$ 22.9 billion in 2022. The industry is anticipated to increase to US$ 51.5 billion by 2032 as a result of the growing support from various governmental bodies. During the forecast period of 2022–2032, the market is anticipated to grow at a CAGR of 8.4%.
The global DNA Diagnostics Market is estimated to garner US$ 51.5 Billion while exhibiting an 8.4% CAGR during the forecast period. The growing support from several governments is likely to fuel the market growth in the coming years. The industry is expected to secure US$ 22.9 Billion in 2022.
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Increasing government initiatives for research and development for treatment of chronic diseases is expected to boost the growth of the DNA diagnostics market. Technological advancement in the diagnostic and treatment process of infectious diseases, propel the growth of the market in forecasting period. For instance, US government launched the “Cancer Moonshot” with the mission to accelerate the rate of progress against cancer to accelerate scientific discovery in cancer, foster greater collaboration, and improve the sharing of data.
The oncology segment is likely to offer remunerative opportunities for the global DNA diagnostics market. Several emerging economies are making significant developments in their healthcare budgets, thereby, providing lucrative opportunities to players in the market. For instance, as per CMS.gov, the U.S. health care spending grew 9.7% in 2020.
Key Takeaways from the Market Study
· By application, the oncology segment is expected to record an 13.1% CAGR by 2032
· By product type, the instruments segment to expand at a 12.4% growth rate during the forecast period
· The U.S market to garner US$ 18.2 Billion and record an 8.2% CAGR from 2022-2032
· Market in China to procure US$ 3.6 Billion, expanding at a 7.8% growth rate during the assessment period
“Rising research and development in the field of biotechnology, increasing healthcare expenditure, also the growing demand for prenatal screening and new born testing which will benefit the market in the forecast period,” says an FMI analyst.
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Competitive Landscape
Eminent players in the global DNA diagnostics market include Sysmex, Bayer Diagnostic, Roche Diagnostics, Abbott Laboratories, Cephide Inc, among others. Recent key developments among players include:
· In February 2022, Sysmex Corporation announced a capital and business tie-up with KAINOS Laboratories, Inc., with a view toward strengthening capabilities to develop and produce diagnostic reagents in the immunochemistry field.
· In February 2020, Cepheid and Sherlock Biosciences announced a research collaboration to explore the development of new cutting-edge molecular diagnostic tests. Leveraging Sherlock Biosciences’ engineering biology platform, SHERLOCK™, a CRISPR-based technology that can identify virtually any genetic target, new tests could be designed to run on Cepheid’s GeneXpert® Systems. The collaboration will focus on molecular diagnostic tests for infectious diseases and oncology.
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Key Segments Covered in the DNA Diagnostics Industry Survey
DNA Diagnostics Market by Product type:
- DNA Diagnostics Instruments
- DNA Diagnostics Reagents
- DNA Diagnostics Software & Services
DNA Diagnostics Market by Technology:
- PCR-based DNA Diagnostics
- Microarray-based DNA Diagnostics
- In-situ Hybridization-based DNA Diagnostics
- Sequencing Technology-based DNA Diagnostics
- Mass Spectrometry-based DNA Diagnostics
DNA Diagnostics by Application:
- DNA Diagnostics in Oncology
- Prostate Cancer
- Breast Cancer
- Colorectal Cancer
- Others
- DNA Diagnostics in Infectious Diseases Treatment
- Hepatitis B Virus
- Hepatitis C Virus
- HIV
- TB
- Chlamydia Trachomatic and Neisseria Gonorrhea (CT/NG)
- HPV
- Methiciline Resistant Staphylococcus Aureus (MRSA)
- Others
- DNA Diagnostics in Myogenic Disorder Treatment
- DNA Diagnostics in Clinical Diagnostic Confirmation
- Prenatal DNA Diagnostics
- Pre-Implantation DNA Diagnostics
- DNA Diagnostics for Other Applications
DNA Diagnostics Market by End User:
- Point of Care DNA Diagnostics
- DNA Diagnostics across Diagnostic Centers
- Self-Testing/OTC DNA Diagnostics
DNA Diagnostics Market by Region:
- North America DNA Diagnostics Market
- Europe DNA Diagnostics Market
- Asia-Pacific DNA Diagnostics Market
- Middle East & Africa DNA Diagnostics Market
- Latin America DNA Diagnostics Market
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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