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Meticulous Research®– leading global market research company published a research report titled “Next Generation Sequencing Services Market by Service Type (Targeted Sequencing, Exome, RNA-Seq, ChIP Sequencing), Technology (Sequencing by Synthesis, Nanopore, SMRT), Application (Clinical Diagnosis, Biomarker Discovery), & End User - Forecast to 2025.”
According to this latest publication from Meticulous Research®, the global NGS services market is expected to grow at a CAGR of 20.5% from 2019 to reach $13.1 billion by 2025. The growth in NGS services market is mainly attributed to the plummeting cost of sequencing, technological advancements in NGS, and increase in genome mapping programs across the globe. In addition, increasing applications of NGS in cancer and agrigenomics research, and analysis of complex sequencing data provides further revenue growth opportunities for the various stakeholders in this market. However, lack of skilled professionals for efficient NGS sample preparation and analysis, and high cost of sequencing infrastructure- are likely to hinder the market growth.
The global NGS services market study presents historical market data in terms of values (2017 and 2018), estimated current data (2019), and forecasts for 2025-by service type (targeted sequencing, RNA sequencing, exome sequencing, De Novosequencing, ChIP-sequencing, whole genome sequencing, methyl sequencing, and other services), technology (sequencing by synthesis, ion semiconductor, single molecule real time sequencing, nanopore sequencing, and true single molecule sequencing), application (diagnostics, drug discovery, biomarker discovery, agriculture and animal research, and other applications), end user (hospitals & clinics, pharmaceutical & biotechnology industry, academic & research institutes, and other end users), and geography. The study also evaluates industry competitors and analyzes the market at regional and country level.
Based on service type, targeted sequencing services segment is estimated to command the largest share of the overall NGS services market in 2019. The high share of targeted sequencing is attributed to its ability to isolate and sequence fragment of genes or region and increasing adoption of targeted sequencing in biomarker research.
Based on technology, sequencing by synthesis segment is estimated to command the largest share of the overall NGS services market in 2019. The large share of this segment is attributed to its high accuracy in DNA sequencing, highest yield of error-free throughput, and base call value of above Q30 as compared to other technologies in this market. However, single molecule real time (SMRT) sequencing technology is expected to grow at the fastest CAGR during the forecast period, owing to its rising adoption for understanding kinetic information in various areas of research, including genomics, transcriptomics, and epigenetics.
Based on application, the diagnostics segment is estimated to hold the largest share of the overall NGS services market in 2019. The large share of the diagnostics segment is attributed to the significant use of NGS services for the treatment of cancer patients, globally and improvements in NGS-based cancer screening and Non-Invasive Prenatal Tests (NIPT).
This research report analyzes major geographies and provides comprehensive analysis for North America (U.S., Canada), Europe (Germany, France, U.K., Italy, Spain, and Rest of Europe), Asia-Pacific (Japan, China, India, and Rest of Asia-Pacific), Latin America, and Middle East & Africa. North America commanded the largest share of the global NGS services market, closely followed by the Europe, and Asia Pacific. However, Asia Pacific region is slated to register the fastest CAGR during the forecast period. The growth in this region is primarily attributed to accelerated economic growth of countries in the region; growing incidence of infectious and non-communicable diseases with aging population; various government initiatives to promote genomic research to understand complex biological processes and genetic mutations attributed to life threatening diseases; increasing investments by the major players; availability of research funding; developing healthcare infrastructures; and growing outsourcing activities in the region.
The global NGS services market is fragmented with the presence of many regional and local players. The key players operating in the global NGS services market are Illumina, Inc. (U.S.), Qiagen N.V. (The Netherlands), PerkinElmer, Inc. (U.S.), Eurofins Scientific SE (Luxembourg), Macrogen, Inc. (South Korea), Genotypic Technology Pvt. Ltd. (India), GENEWIZ, Inc. (U.S.), Beijing Genomics Institute (BGI) (China), SciGenom Labs Pvt. Ltd. (India), MedGenome (U.S.), DNA Link, Inc. (South Korea), Otogenetics Corporation (U.S.), Novogene Corporation (China), LGC Limited (U.K.), CD Genomics (U.S.), and SeqLL, LLC (U.S.) among others.
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Key questions answered in the report-
- Which are the high growth market segments in terms of service type, technology, application, end user, and regions/countries?
- What was the historical market trend for NGS services across the globe?
- What are the market forecasts and estimates for the period 2019–2025?
- What are the major drivers, restraints, challenges, and opportunities in the global NGS services market?
- Who are the major players in the global NGS services market?
- How is the competitive landscape and who are the market leaders in the global NGS services market?
- What are the recent developments in the global NGS services market?
- What are the different strategies adopted by the major players operating in the global NGS services market?
- What are the geographical trends and high growth regions/ countries?
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About Meticulous Research®
Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicated market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth. Meticulous Research® produces global reports and custom studies for North America, Europe, Latin America, Asia-Pacific, and the Middle East and Africa regions. These reports are used by our clients for marketing and strategic planning in various sectors.
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Meticulous Research® – leading global market research company published a research report titled “Biomaterials
Meticulous Research®– leading global market research company published a research report titled “Chromatography
Meticulous Research®– leading global market research company published a research report titled “