Refurbished Dna Sequencing Platforms Market Insight 2022 - 2030
The global refurbished DNA sequencing platforms market size was valued at $89.83 million in 2020, and is projected to reach $129.61 million by 2030, registering a CAGR of 2.6% from 2021 to 2030. DNA sequencing is the process of determining the nucleic acid sequence, which is the order of nucleotides in DNA. It includes any method or technology that is used to determine the order of the four bases, namely adenine, guanine, cytosine, and thymine. Refurbished DNA sequencing platforms are comparatively less expensive as compared to new platforms. DNA sequencing is used to execute various applications, such as biomarker discovery, oncology studies, personalized medicine, forensics, and others. It has streamlined nucleotide analysis and consists of widely replaced conventional tools of genomics, especially microarray, genotyping, and others.
Increase in demand for DNA sequencing owing to surge in sequencing applications drives the growth of the refurbished DNA sequencing platforms market. In addition, the growth in number of genome mapping programs globally and increase in R&D investment further fuel growth of the refurbished DNA sequencing platforms market. However, dearth of skilled professionals, ethical & legal limitation related to DNA sequencing, and standardization concerns in sequencing procedures may hamper growth of the market. Conversely, use of cloud computing as a potential data management service and the untapped emerging countries are expected to offer profitable opportunities for the growth of the market during the forecast period.
What Is The Impact Of Covid-19 Pandemic On The Refurbished Dna Sequencing Platforms Market?
The outbreak of COVID-19 has disrupted workflows in the healthcare sector globally. The disease has forced a number of industries to shut their doors temporarily, including several sub-domains of health care. In the initial days of the COVID-19 pandemic, in 2020, some countries were in lockdown. They banned trade with other nations and enforced travel restrictions, resulting in fall in diagnostics and surgical procedures in the first half of 2020.
The COVID-19 outbreak is anticipated to have a positive impact on growth of the global refurbished DNA sequencing platforms market. The COVID-19 pandemic has stressed the healthcare system in globally and increased the need to identify the strain of new coronavirus. Next generation sequencing offers an effective and unbiased way to identify the new strain of corona virus. A huge number of researches were conducted on DNA and RNA of corona virus to understand how it enters human cells and to learn about its pathogenesis. Although qPCR technology can be used for the detection and used in quantification of COVID-19 in the pandemic, but it has a major disadvantage. qPCR cannot be used to decipher any mutations or changes in the entire viral genome.
Next generation sequencing systems play a vital role in studying the mutations in the viral genome and their impact on human health. As per research published by Clinical OMICS in 2020, there were approximately 84,000 viral genomic sequences of the coronavirus uploaded to Global Initiative to Share All Influenza Data (GISAID) by August 2020, and the analysis of 4,641 genomes revealed that the virus continues to mutate as it spreads with one or two base changes per month. Next generation sequencing helps in understanding the evolving process of the COVID virus. It also helps in keeping a track over the transmission of the virus globally.
The COVID-19 pandemic is expected to significantly have a positive impact on the growth of the global next generation sequencing industry. Similarly, the demand for refurbished products is slowly gaining traction and due to the positive impact of COVID-19. In addition, it is expected that individuals from research laboratories, who are comparatively underfunded can avail refurbished DNA sequencing platforms in the coming years due to its low price as compared to the new DNA sequencing platforms.
Refurbished Dna Sequencing Platforms Market Segmentation
The refurbished DNA sequencing platforms market is segmented on the basis of region. On the basis of region, the market is analyzed across North America, Europe, and RoW. RoW constituted the highest market share in the global refurbished DNA sequencing platforms market in 2020, followed by Europe and North America. North America is expected to register fastest growth rate during the forecast period, owing to the presence of high per capita healthcare expenditure coupled with high patient awareness levels and high prevalence of target diseases.
On the other hand, Europe is expected to witness considerable market growth during the forecast period, due to increase in demand for DNA sequencing and strong presence of key players
The key market players profiled in the report include Abbott Laboratories, Agilent Technologies Inc., Danaher Corporation (Beckman Coulter, Inc.), F. Hoffmann-La Roche Ltd., Illumina Inc., Li-Cor Biosciences, Inc., Macrogen Inc., Pacific Biosciences of California, Inc., PerkinElmer Inc., and Thermo Fisher Scientific, Inc.
By Region
North America is expected to experience gRoWth at the highest rate, registering a CAGR of 3.2% during the forecast period.
Key Benefits for Stakeholders
- The study provides an in-depth analysis of the global refurbished DNA sequencing platforms market along with the current trends and future estimations to explain the imminent investment pockets.
- A comprehensive analysis of the factors that drive and restrict the market growth is provided in the report.
- Comprehensive quantitative analysis of the industry from 2020 to 2030 is provided to enable the stakeholders to capitalize on the prevailing refurbished DNA sequencing platforms market opportunities.
- Extensive analysis of the key segments of the industry helps to understand the application and products of refurbished DNA sequencing platforms used across the globe.
- Key market players and their strategies have been analyzed to understand the competitive outlook of the refurbished DNA sequencing platforms market.
Refurbished DNA Sequencing Platforms Market, by Region Report Highlights
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Analyst Review
The refurbished DNA sequencing platforms market is expected to exhibit high growth potential during the forecast years. This is attributed to growth in number of cancer and COVID-19 patients across the globe. In addition, the adoption of refurbished DNA sequencing platforms is expected to increase in various applications and interventions such as, diagnostics, biomarker discovery, personalized medicine, and others, which further fuel growth of the market. DNA sequencing is better and more advanced than its predecessors, especially microarray, owing to its increased affordability for conducting comprehensive sequence-based genomic analysis. The refurbished DNA sequencing platforms market has gained momentum in research, innovation, and development sectors, owing to surge in the number of genome mapping projects across the globe, and significant technological advancements in DNA sequencing. In addition, rise in awareness about next generation sequencing (NGS), and its advantages supplement the market growth. North America is expected to present lucrative growth opportunities to the key players in the industry during the forecast period.
Furthermore, the demand for DNA sequencing has significantly increased due to reduced cost of NGS and surge in the number of produced sequences reads per run. Moreover, reduction in sequencing time, accuracy, and precision of the outcome propels the market growth. However, standardization concerns in DNA sequencing-based diagnostics and ethical & legal limitations hamper the market growth.
The total market value of refurbished DNA sequencing platforms market is $89.83 million in 2020.
The forcast period for refurbished DNA sequencing platforms market is 2021 to 2030
The market value of refurbished DNA sequencing platforms market in 2021 is $102.94 million.
The base year is 2020 in refurbished DNA sequencing platforms market
Top companies such as Abbott Laboratories, PerkinElmer Inc., and Thermo Fisher Scientific, Inc., Danaher Corporation (Beckman Coulter, Inc.), F. Hoffmann-La Roche Ltd, and Illumina Inc. held a high market position in 2020.
Increase in demand of DNA sequencing owing to surge in sequencing applications drives the growth of the refurbished DNA sequencing platforms market. In addition, the growth in number of genome mapping programs globally and increase in R&D investment further fuel growth of the refurbished DNA sequencing platforms market.
DNA sequencing is a technology in which several DNA strands could be sequenced through massive parallelization
Refurbished DNA sequencing platforms are instruments, which are relatively inexpensive instruments used for DNA sequencing, when compared with new DNA sequencing platforms.
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