Global Refurbished DNA Sequencing Platforms Market - 2022-2029

Global Refurbished DNA Sequencing Platforms Market - 2022-2029

Market Overview

The global refurbished DNA sequencing platforms market size was valued at US$ XX million in 2021 and is estimated to reach US$ XX million by 2029, growing at a CAGR of XX% during the forecast period (2022-2029).

The technique of determining the nucleic acid sequence, or the order of nucleotides in DNA, is known as DNA sequencing. Any method or technology used to establish the order of the four bases, namely adenine, guanine, cytosine, and thymine, is included. When compared to new platforms, refurbished DNA sequencing platforms are less expensive. DNA sequencing is utilised in a variety of applications, including biomarker identification, oncology research, customised medicine, forensics, and others.

Market Dynamics

The market is growing due to an increase in the number of genome mapping programmes around the world and an increase in R&D investment.

Technological improvements in the field of DNA sequencing platforms will drive the market growth

The primary driving factors of the refurbished DNA sequencing platforms market are technological improvements in the field of DNA sequencing platforms, an increase in the application of DNA sequencing, and a cheap cost of the procedure. The emerging technologies for DNA sequencing platforms are mostly based on nanopores and are produced by market leaders such as Illumina, Roche, and others. These platforms are low-cost and provide improved multiplexing accuracy and capacity. Furthermore, a growth in the number of genome mapping studies is likely to drive the market for refurbished DNA sequencing platforms during the forecast period. These factors are likely to boost the Refurbished DNA Sequencing Platforms market.

Dearth of experienced specialists is likely to hamper the market growth

However, a dearth of experienced specialists, ethical and legal limitations associated to DNA sequencing, and worries about standardisation in sequencing techniques are impeding industry expansion.

COVID-19 Impact Analysis

The global outbreak of COVID-19 has interrupted healthcare workflows. The sickness has compelled a number of enterprises, including various sub-domains of health care, to temporarily close their doors. Some countries were on lockdown in the early days of the COVID-19 pandemic, in 2020. They prohibited trade with other countries and imposed travel restrictions, resulting in a drop in diagnostics and surgical procedures in the first half of 2020. The COVID-19 outbreak is expected to boost growth in the global market for refurbished DNA sequencing platforms. The COVID-19 pandemic has put a strain on the global healthcare system and heightened the urgency of identifying the strain of new coronavirus. Next generation sequencing provides an efficient and unbiased method for identifying the novel corona virus strain. A large number of studies on the DNA and RNA of corona virus have been undertaken in order to learn how it enters human cells and the pathogenesis of the virus. Although qPCR technology can be utilised to detect and quantify COVID-19 in the epidemic, it has a significant limitation. qPCR cannot be used to identify any mutations or changes in the viral genome as a whole.

Segment Analysis

The onclogy study segment is expected to grow at the fastest CAGR during the forecast period (2022-2029)

The oncology study segment is predicted to rise during the forecast period. The growing burden of cancer and oncological disease and its deaths creates a need for treatment ,which drives the market growth. For example, the World Health Organization article titled Cancer is the biggest cause of death worldwide, with approximately 10 million fatalities expected in 2020, accounting for nearly one in every six deaths.Breast, lung, colon, rectum, and prostate cancers are the most frequent cancers.Tobacco use, a high BMI, alcohol consumption, a low fruit and vegetable intake, and a lack of physical activity account for almost one-third of cancer fatalities.In low- and lower-middle-income nations, cancer-causing diseases such as the human papillomavirus (HPV) and hepatitis account for roughly 30% of cancer cases.

Furthermore, market growth is fueled by introducing new products into the market. For example, in November 2019, PerkinElmer, Inc. has launched a new product called, NEXTFLEX ChIP-Seq Kit. This product is used to precisely scan interactions between protein, DNA, and RNA, allowing for interpreting regulatory events that are important in many biological processes and disease states. As a result, various market players' number of regulatory authority approvals for products is boosting the market growth.

Geographical Analysis

North America region holds the largest market share of the global refurbished DNA sequencing platforms market

The North American Refurbished DNA Sequencing Platforms market accounted for the largest market share because of the widespread use of advanced treatment procedures such as COVID-19. Furthermore, many market players have launched technologically advanced devices to gain a strong foothold in the market.

North American region is developing novel treatment and diagnostic methods. Furthermore, rising death rates increased patient awareness of the availability of new technological procedures. For instance April 2019, New England Biolabs has released a new product called 'NEBNext Enzymatic Methyl-seq (EM-seqTM)' as a methylation analysis alternative to bisulfite sequencing. Advanced healthcare infrastructure is expected to drive the growth of the Refurbished DNA Sequencing Platforms market in North America.

Competitive Landscape

The refurbished DNA sequencing platforms market is a moderately competitive presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include Agilent Technologies, Sofia Genetics, New Scale Technologies, Twist Biosciences, Roche, Illumina Inc,Li-Cor, Macrogen Inc, PacBio, Thermo Scientific, among others. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the Refurbished DNA Sequencing Platforms market globally. For instance, in January 2020, Agilent Technologies Inc. has introduced a new tool that addresses fundamental issues that laboratories have while producing DNA sequencing libraries for research. The new Agilent SureSelect XT HS2 DNA Kit represents the cutting-edge in library preparation and target enrichment, providing researchers with a comprehensive solution that allows them to select the workflow options that best suit their needs.

SOPHiA GENETICS

Overview:

SOPHiA GENETICS is a biotechnology company that wants to help healthcare professionals by leveraging data-driven medicine's capabilities.

Product Portfolio:

SOPHiA DDM: The SOPHiA DDM platform, which is powered by artificial intelligence (AI), provides a safe, secure, and instantly accessible environment for generating insights across complex genomic and phenotypic information. You test your own samples and keep your data, while the SOPHiA DDMTM platform analyses and interprets data across a wide range of illnesses, from oncology to genetic disorders. The platform is designed to be safe, with a simplified end-to-end workflow (from raw data to variant reporting) and machine learning-patented algorithms that can detect, annotate, and categorise numerous types of variants in a single assay with high accuracy.