Global Nanopore Technologies Market Size To Grow At A CAGR Of 13.90% In The Forecast Period Of 2023-2028
Nanopore Technologies Market Report and Forecast 2023-2028
The ‘Global Nanopore Technologies Market Price, Share, Size, Trends, Growth, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global nanopore technologies market, assessing the market on the basis of its segments like product, application, end use, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Nanopore Technologies Market Size, Share, Trends, Industry, Key Player, Report and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2022): USD 228 million
• Forecast CAGR (2023-2028): 13.90%
Nanopore technology enables ultrasensitive analyses for deep understanding of individual molecules, which is a crucial advantage leading to a greater growth of nanopore technologies market. Moreover, nanopore-based single molecule DNA and RNA are portable, low cost, and provide long reads, which is a reason why nanopore technology is witnessing a heightened demand in advanced transcriptomic research.
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Meanwhile, the applications of nanopore technology in life science and biomedical research is gaining traction due to its utility towards investigating nucleic acids and various biomacromolecules. Nanopore technology is also emerging as a successful technique in biomedical sensing. The increasing expenditure aimed towards improving DNA variance research to enhance bioinformatics and sequencing technology, is further propelling the demand for nanopore instruments and consumables across research laboratories and institutes.
Over the forecast period, the anticipated increase in the demand for DNA sequencing technique, to have a deeper understanding about genetic information, which in turn is likely to lead to a heathy growth of better-quality drugs and medications for chronic diseases, is likely to boost the application of nanopore technology. Furthermore, the growing use of epigenetics in the healthcare sector, to bolster the development of enhanced treatment options, is further expected to fuel the nanopore technologies market growth in the coming years.
Nanopore Technologies Industry Definition and Major Segments
Nanopore technology refers to a laboratory technique which closely analyses DNA and RNA fragments such as nucleotides and bases in real-time. The main function of this technology is to analyse the fluctuation of an electric current. Nanopore technology facilitates improvement in accuracy and read length of DNA and RNA sequencing which is escalating the global nanopore technologies market growth.
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Based on product, the market is bifurcated into:
On the basis of application, the market is divided into:
• DNA Sequencing
• RNA Sequencing
By end use, the market is segmented into:
• Hospitals and Clinics
• Research Institutes
On the basis of region, the market is categorised into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Nanopore Technologies Market Trends
The key trends in the global nanopore technologies market include the increasing prevalence of cancer, tuberculosis, various types of viral infections and disorders. The rising healthcare expenditure across the emerging economies, technological advancements in medical infrastructure and biotechnical techniques and escalating health awareness are the major market bolstering trends.
Rising application of nanopore technology in gene sequencing to have a proper understanding of genetic disorders are crucial trends in the market. In addition, the rising investments in the research and development activities being carried out by the biopharmaceutical companies are expected to augment the innovative launches of new products and brands delivering high class drugs and medicines. Hence, the innovations in diseases treatment methods are expected to fuel the global nanopore technology market.
In terms of geography, Europe holds are healthy share of the market. The heavy presence of leading sensing technology companies across well-developed economies such as the United Kingdom is driving the market in this region. Meanwhile, North America is expected to witness a steady growth in the forecast period owing to the high healthcare expenditure across strong economies, which is leading to a heightened development of procedures aimed at treating chronic diseases.
Key Market Players
The major players in the nanopore technologies market report are:
• Oxford Nanopore Technologies plc
• F. Hoffmann-La Roche Ltd
• Electronic BioSciences
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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