Refurbished DNA Sequencing Platforms Market is expected to reach $ 0.12 Billion by 2030 | CAGR of 2.6%

According to a new report published by Allied Market Research, titled, “Refurbished DNA Sequencing Platforms, by Region: Opportunity Analysis and Industry Forecast, 2021–2030," the global refurbished DNA sequencing market size platforms was valued at $0.089 billion in 2020 and is projected to reach $0.12 billion by 2030 registering a CAGR of 2.6% from 2021 to 2030.

The process of determining the order and precise sequence of nucleotides in genomes and chromosomes is known as DNA sequencing. DNA sequencing comprises the technology that determines the order of all the four bases of nucleotides, such as, guanine, adenine, thymine, and cytosine. DNA sequencing is an efficient way, by which a protein or RNA is sequenced, and this technology has become a key process in the area of medicine, diagnosis of diseases, molecular biology, evolution biology, metagenomics, forensics, anthropology, and other sciences. DNA sequencing platforms are used for the process of DNA sequencing and used or refurbished platforms are comparatively less expensive as compared to new platforms.

The refurbished DNA sequencing platforms market is driven by factors, such as increase in the usage and applications of DNA sequencing, especially in oncology research, diagnostics, reproductive health, and others. Furthermore, the market for DNA sequencing products and technologies has witnessed tremendous growth in the recent years due to the growing demand for this technique in genomics, transcriptomics, and other life science-related research areas.

Moreover, surge in technological advancements, especially, nanopore sequencing and rise in the number of collaborations & partnerships to promote the use of DNA sequencing in hospitals & research centers further fuel the growth of the market. In addition, heavy inflow of investment in R&D activities has facilitated the propagation of the DNA sequencing technique; thereby, providing lucrative opportunities for the market players. However, concerns related to accuracy & standardization and presence of ethical & legal limitations associated with DNA sequencing hamper the market growth.

COVID-19 is a large family of viruses that causes illness ranging from common cold to more severe respiratory diseases. The global refurbished DNA sequencing platforms market has positive impact of COVID-19 due to increase in adoption of DNA sequencing to identify the strain of new coronavirus. 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. Thus, the COVID-19 pandemic is expected to significantly have a positive impact on the growth of the global refurbished DNA sequencing platforms market.

The refurbished DNA sequencing platforms market is segmented on the basis of region. Based on region, the market analyzed across North America, Europe, and RoW. RoW accounted for the largest share in the global market in 2020, followed by Europe and North America.

However, North America offers profitable opportunities for key players operating in the refurbished DNA sequencing platforms market, thereby registering the 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.

Key Findings of the Study 

• Based on region, RoW is accounted for the largest share in the refurbished DNA sequencing platforms market. However, North America registering the fastest growth rate of CAGR 3.2% during the forecast period.