Healthcare

DNA Diagnostics Market Insights, Share, Growth Drivers and Demand Forecast by 2024

DNA Diagnostics Market

The global DNA diagnostics market is growing due to technological advancement, and cost effective diagnostic solution. The growing adoption of new technologies such as polymerase chain reaction, next generation sequencing, and microarray is also posing an opportunity for the global market. Among the various products, the instrument segment leads the market, due to improved healthcare facilities, and its inexpensive cost structure. However, the services and software segment is expected to grow with the fastest rate during the forecast period. Among the various technologies, the PCR segment accounted for the largest share in the global market of DNA diagnostics, due to its frequent usage in diagnostic procedures, such as sample separation, isolation, and preparation of the DNA sample. And among the various applications, the oncology segment dominated the market of DNA diagnostic, due to increasing prevalence of chronic diseases and growing geriatric population.

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The unexplored market in the DNA diagnostics industry of the developing economies is creating abundant growth opportunities for the global market. The product launches, and collaborations and partnerships are some of the major trends witnessed in the global market. DNA diagnosis technique helps healthcare professionals to identify various chronic and infectious diseases, such as cancer, hepatitis, tuberculosis and human immunodeficiency virus (HIV) accurately and cost effectively.

Geographically, North America is expected to dominate the global market during the forecast period, due to increasing prevalence of chronic and infectious diseases, and increasing adoption of DNA diagnostics technology. In addition, the refined healthcare infrastructure, and strong government initiatives and funding for DNA testing are also fueling the growth of the North American market.

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Asia-Pacific is expected to be the fastest growing region during the forecast period, due to increasing healthcare expenditure, and large pool of undiagnosed patients in the region. In addition, the Asia-Pacific market is growing due to increasing awareness about healthcare and improving healthcare infrastructure in the emerging countries, such as India and China.

Some of the companies operating in the global DNA diagnostics market are Sysmex Corporation, Abbott Laboratories, F. Hoffmann-La Roche Ltd., Bayer Diagnostic, Illumina Inc., Gen-Probe Inc., Cephide Inc., Johnson and Johnson, Bio-Rad Laboratories Inc., Thermo Fisher Scientific Inc., and Novartis AG.

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