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Predicted to Grow

The global DNA sequencing market is predicted to reach as high as $22 billion by 2024, with a lot of growth occurring in China, according to the South China Morning Post. It reports that a number of DNA testing kit makers are investing in China.

Currently, it says China's DNA sequencing market is worth about $1.05 billion and an analysis by CCID Consulting predicts that it more than double to come to $2.68 billion by 2022. Growth in China is expected to be spurred by rising incomes and spending on healthcare infrastructure, the Post adds.

It notes that companies like Oxford Nanopore Technologies and Centrillion Technologies are investing in China's DNA sequencing market. Last month, the Post reported that Oxford Nanopore was seeking dual listings in London and Hong Kong because it predicted China to soon become its largest market. Centrillion, the Post adds, has, in addition to its Silicon Valley facility, a factory in Hsinchu, Taiwan, as well as one in Hangzhou, in the Zhejiang province, where it makes its sequencing chips.