According to a market research report by CIConsulting, the market size of China’s DNA sequencing industry will reach US$2 billion in 2017 and then will further increase at a compound annual growth rate (CAGR) of 36.8% in the next four years to reach US$6 billion by 2021.
The Chinese government is pushing for technology advancement in this market. Between 2003 and 2013, nearly 900,000 babies out of 16 million newborns each year had congenital birth anomalies. China’s Ministry of Science and Technology said that the government will invest US$9 billion by 2030 in precision medicine, a medical model based on DNA sequencing technology.
This rapid growth is also evidenced by the recent device company investment. The Chinese medical device maker Basecare, specializing in manufacturing devices for embryonic pre-implantation genetic screening, has raised a RMB100 million (US$14 million) series B round.
Founded in 2010, Basecare has developed a number of medical tools in the assisted reproductive sector. Such as pre-implantation genetic screening and diagnosis, non-invasive prenatal DNA testing and chromosome abnormalities testing. In addition, it provides DNA sequencing solutions, including technology support, training, data analysis and management services for medical institutions.
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