China Sequencing Market Growth Booming
The DNA sequencing market in China is expected to reach 18.3B Yuan ($2.7B) by 2022, rising from 7.2B Yuan ($1.1B) last year at a much greater rate than the overall global market. The dramatic increase, which was predicted by CCID Consulting in Beijing, is the result of rising income within the country and greater investment into healthcare infrastructure.
Current estimates value the global sequencing market at roughly $3B, but is expected to rise significantly over the next few years; in June, Global Market Insights projected a market value of $22B in 2024. However, in China, which has seen increasing income and investment, market growth is expected to greatly exceed the international average.
This exceptional growth has drawn the attention of DNA sequencing developers around the world. One such company is Centrillion Technologies, a California-based company that has developed a new generation of DNA sequencing semi-conductor chips. The company hopes that these new chips will allow for more accurate readings than the currently available hardware.
“Before Centrillion, in order to sequence DNA molecules, they were fragmented into small pieces and read with small [chemical] reagents and high power cameras,” said Zhou Wei, CEO of Centrillion, in an interview with the South China Morning Post. “Because the long DNA molecules are smashed before the can be read, important genomic structure information is lost.”
Now, the company is offering a solution that labels the molecules before sequencing takes place, and which produces 2D and 3D structural information to ensure greater accuracy than traditional alternatives. Their business offerings have led the company to raising $89M since it was founded in 2009, with investors from Shanghai, Taiwan, and China all offering Centrillion financial support.
Currently, the company has a research facility in California, a factory in Taiwan, and a second factory in the Zhejiang province in China. With such interest in the Chinese DNA sequencing market, it’s expected that more Western-based countries will be looking to invest in China.