DNA diagnostics Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $19 billion by 2020, registering a CAGR of 9.8% during the period 2014-2020. The potential to provide accurate diagnosis and cost effectiveness over alternative diagnostic techniques are factors which supplement the growth of the DNA diagnostics market.
"Next generation sequencing not only reduces the cost of sequencing, but increases the throughput as well; it could thus help in bridging the gaps in traditional and personalized medications", adds the analyst. This makes it a promising investment opportunity for key players. Illumina Inc.'s new cost-effective genome machine HiSeq X Ten -the world's first DNA crunching supercomputer- is leading to a significant reduction in the price of sequencing a human genome.
AMR analysis suggests that the tremendous potential of novel DNA diagnostic technologies and the probability of them being adopted in personalized medicines has not only reduced the expenditure in diagnostic procedures but has also helped in increasing the efficiency of chronic disease identification. Furthermore, the emergence of personalized medicines and the rising number of initiatives vis--vis product development and clinical trials forkey players has laid the groundwork for DNA diagnostics technologies. Various technologies such as PCR, sequencing technology, microarrayin situ hybridization and mass spectrometry are considered in this report, with special emphasis on key market trends and their growth potential. Given its wide scope of application in almost all activities related to DNA diagnostics, the polymerase chain reaction (PCR) technology holds the largest share of DNA diagnostics market revenue.
Market analysis in terms of geography suggests that developed economies would retain their dominance in the market. This could be attributed to the early adoption of the technology due to potential reduction offered by DNA diagnostic to their high healthcare expenditure. However, developing economies, such as in Asia-Pacific, will significantly influence the DNA diagnostic market during the extended forecast period (2020-2025), largely due to potential growth in per capita healthcare expenditure and very large undiagnosed population.
Several companies operating in this region are seeking novel technologies to gain traction in the competitive market. Product launch is the key strategy adopted by companies operating in this market. These companies are developing novel products for the treatment of various diseases such as infectious diseases, cancer, prenatal diagnosis, pre-implantation diagnostics and myogenic disorder. Additionally, these companies are also adopting collaboration and acquisition to retain their respective positions and to gain traction in the market. Key companies profiled in the report are Bayer Diagnostic, Sysmex, Roche Diagnostics, Abbott laboratories, Cephide, Gene-probe Inc., Illumina, Inc., Thermo Fisher Scientific, Bio-Rad Laboratories, Johnson and Johnson, and Novartis.