Nanopore Technologies Market to Worth $6,80,872.4 Thousand by 2030 | By Product, Business & Application
January 14, 2022
The growth of the nanopore technology market is attributed to technological advancements related to nanopore technologies, increase in outbreak of novel viruses
PORTLAND, OR, UNITED STATES, January 14, 2022 /EINPresswire.com/ -- The global nanopore technologies market was valued at $1,74,388.2 thousand in 2020, and is projected to reach $6,80,872.4 thousand by 2030, registering a CAGR of 14.40% from 2021 to 2030. Nanopore sequencing is a third-generation technology for sequencing biopolymers containing polynucleotides in the form of DNA or RNA as well as other components. This technique involves the sequencing of a single molecule of DNA or RNA without the requirement for PCR amplification or chemical labelling. Furthermore, this sequencing has the potential to offer lower genotyping costs, greater testing mobility, and faster sample processing with the capacity to display findings in real time. It is one of the most recent sequencing methods, and it aids in establishing the nucleotide order in DNA or RNA.
Surge in demand for DNA sequencing and rise in use of epigenetics for the development of newer treatment methods propel the growth of the global nanopore technologies market. Moreover, increase in R&D on nanopore technologies such that they can be used for novel viruses is anticipated to augment the market growth during the forecast period. In addition, the introduction of Internet of Things benefits the nanopore technology, as sequencers can be easily connected to other technical systems, which will help healthcare professionals monitor the DNA sample on shared cloud computing labs. is anticipated to aid the nanopore technologies market grow in the forecast period.
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However, difficulty in sustaining the integration and structure of the nucleotide bases hinders the growth of the nanopore technologies market in the coming years. On the contrary, rise in use of nanopore technologies for fourth generation DNA sequencing is projected to act as potential growth opportunity for the market in the coming years.
The outbreak of COVID-19 led to a massive economic de-growth due to its spread to masses. It is a large family of viruses that causes illness ranging from common cold to more severe diseases. The overall impact of COVID-19 is projected to remain negative for nanopore technologies companies. The benefits of nanopore sequencing include the ability to generate data in real time (1 hour of sequencing time is required when using MinION Flow Cells) and to scale sequencing throughput needs from the Flongle to the high-throughput PromethION. Such products that are useful for the detection of coronavirus-disease-2 will help the market gain traction during the pandemic
By product, the nanopore technologies market is categorized into instruments and consumables. The consumables segment dominated the global market in 2020, and is anticipated to continue this trend during the forecast period. In addition, rise in use of consumables in a wide array of procedures such as DNA sequencing and RNA sequencing is a major factor that fuels the growth of this segment.
On the basis of application, the mark nanopore technologies market et is segregated into DNA sequencing and RNA sequencing. Presently, the DNA sequencing segment acquires majority of the market share, owing to rise in prevalence of viral diseases in both developed as well as developing countries, outbreak of novel virus, rise in demand in DNA sequencing by nanopore technology.
Depending on end user, the nanopore technologies market is categorized into hospitals & clinics, research institutes, and others. The research institutes segment dominated the market in 2020, and is anticipated to continue this trend during the forecast period. This is attributed to surge in demand for nanopore technologies in research institutes.
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The Major Key Players Are:
Cyclomics, Electronic Biosciences, Inc., Grandomics, INanoBio Inc., Qitan Technology, Quantapore, Inc., Nabsys, Inc., Nonacus, Inc., ONTERA, Inc., and Oxford Nanopore Technologies
Key Findings Of The Study:
• Depending on product, the consumables segment held largest market share in the global nanopore technologies market in 2020.
• On the basis of application, the DNA sequencing segment garnered the highest nanopore technologies market share in 2020, and is expected to remain dominant throughout the forecast period.
• By end user, the research institutes dominated the nanopore technologies market in 2020, and is anticipated to gain traction in the coming years.
• Region wise, Asia-Pacific is expected register a CAGR of 16.1% during the forecast period
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