The DNA digital data storage market is expected to grow from US$ 57.81 million in 2021 to US$ 1,761.49 million by 2028; it is estimated to grow at a CAGR of 61.29% during 2021 to 2028.
According to our new research study on “DNA Digital Data Storage Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Sequencing, Application, and End User”. Factors driving the growth of the market are the presence of DNA digital data storage service providers and investments and innovation in DNA data storage.
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DNA digital data storage is the method of encoding and decoding binary data to and from synthesized strands of DNA. The DNA has garnered interest as a medium for digital information storage due to its high storage density and durability that is superior to those of existing silicon-based storage media. Moreover, DNA’s four-letter nucleotide code provides a suitable coding environment that can be used in the same way that computers and other electrical devices employ binary digital code to represent any letter, digit, or other character.
Increasing Applications of DNA Data Storage
DNA data storage is gaining popularity among healthcare and associated service providers. Forensics, personalized medicine, diagnostics, and others are a few areas of application of DNA data storage. DNA storage offers long-term data storage compared to the traditional modes of storage. The increasing demand for smaller data space to store larger amounts of data is expected to create opportunities for market players. DNA data storages are used and explored by pharmaceutical companies, research institutes, and security agencies to store maximum data in a smaller space.
Factors driving the growth of the global DNA digital data storage market are presence of DNA digital data storage service providers and active investments and business innovation related to DNA data storage are among the factors bolstering the market growth. However, the availability of alternatives and associated limitations are hindering the growth of the market. Despite these limitations, the increasing applications of DNA data storage would create a huge opportunity for the players operating in the DNA digital data storage market during the forecast period.
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The DNA digital data storage market, by sequencing, is segmented into synthesis sequencing, ion semiconductor sequencing, chain termination sequencing, ligation sequencing, nanopore sequencing. In 2021, the synthesis sequencing segment is likely to hold the largest share of the market. However, nanopore sequencing segment is expected to grow at the fastest rate during the coming years.
The DNA digital data storage market, based on appplication is segmented into diagnostic research, personalized medicine, and others. The diagnostic research segment is likely to hold the largest share of the market in 2021 and is anticipated to register the highest CAGR in the market during the forecast period.
The DNA digital data storage market, based on end user is segmented into academics and research institutes, pharmaceutical and biotechnology companies, hospitals and clinics, and others. The academics and research institutes segment is likely to hold the largest share of the market in 2021 and is anticipated to register the highest CAGR in the market during the forecast period
DNA Digital Data Storage Market: Competitive Landscape and Key Developments
Illumina, Inc.; Twist Bioscience; Agilent Technologies, Inc.; Molecular Assemblies; Quantum Corporation; CATALOG; Microsoft Corporation; Iridia, Inc.; DNA Script; and Evonetix among are the leading companies operating in the DNA Digital Data Storage market.
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