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Meticulous Research®– leading global market research company published a research report titled “Next Generation Sequencing Market by Type (Consumables, NGS Platform, Software), Sequencing Type (Whole Genome, Targeted), Technology (Sequencing by Synthesis, Sequencing by Ligation), Application (Clinical, Research), End User – Global Forecasts to 2025”.
According to this latest publication from Meticulous Research®, the global next-generation sequencing market is expected to grow at a CAGR of 16.2% from 2019 to reach $10.35 billion by 2025. The growth in the next-generation sequencing market is mainly attributed to technological advancements in sequencing procedures, surge in genome mapping programs, and increase in drug discovery platforms demanding NGS technology. In addition, increasing number of government initiatives for large-scale genomic sequencing projects and emergence of cloud computing as a potential data management service supports the growth of this market. However, lack of skilled professionals, specifically in developing countries is expected to restrict the growth of this market to a certain extent.
The global next-generation sequencing market study presents, historical market data in terms of values (2017 and 2018), estimated current data (2019), and forecasts for 2025-by product type (consumables, NGS platforms/instruments, software, services), sequencing type (Whole Genome Sequencing (WGS), Whole Exome Sequencing (WES), targeted sequencing), technology (Sequencing by Synthesis (SBS), Ion-Semiconductor Sequencing, Single Molecule Real Time (SMRT), Sequencing by Ligation (SBL), Nanopore), application (clinical, research), end user (clinical diagnostic laboratories, pharma & biotech, academic & research institutes), and geography. The study also evaluates industry competitors and analyzes their market share at the global and regional level.
Browse in-depth Report on:https://www.meticulousresearch.com/product/next-generationg-sequencing-market-5040/
Based on product type, the consumables segment accounted for the largest share of the overall next-generation sequencing market in 2019 and is slated to grow fastest during the forecast period. The large share of this segment is mainly attributed to increasing number of sequencing procedures done in diagnostic laboratories and recurrent use of consumables in sequencing procedures.
Based on sequencing type, targeted sequencing segment is expected to account for the largest share of the overall next-generation sequencing market in 2019. The large share of this segment is mainly attributed to higher sensitivity of the technique to call variants, low sequencing costs as compared to other sequencing technologies, and ability to generate manageable data volumes with reliable results. On the other hand, whole genome sequencing segment is slated to grow at the fastest CAGR during the forecast period, due to growing investments in whole genome sequencing projects by governments to study population genetics and increasing research activities to develop personalized medicines.
Based on technology, sequencing by synthesis (SBS) segment is expected to account for the largest share of the overall next-generation sequencing market in 2019. This is also the fastest growing market segment during the forecast period. The large share of this segment is mainly attributed to high accuracy in DNA sequencing, highest yield of error free throughput, and growing incorporation of this technology in NGS instrumentation.
Based on application, clinical application segment is expected to account for the largest share of the overall next generation sequencing market in 2019 and is poised to grow at the fastest CAGR during the forecast period. The large share of this segment is mainly attributed to rising incidence of cancer, growing prevalence of genetic disorders in infants, and use of NGS technology in diagnostic procedures to make firm clinical decisions. Clinical applications segment of next-generation sequencing technologies is further segmented into oncology, reproductive health diagnostics, cardiovascular, and other applications.
Based on end user, the clinical diagnostic laboratories segment is expected to account for the largest share of next-generation sequencing market in 2019. This segment is also expected to grow at the fastest CAGR during the forecast period. The growth in this market is primarily attributed to increasing volume of diagnostic procedures performed in clinical diagnostic laboratories, growing adoption of next-generation sequencing products among clinical laboratories, and growing inclination towards genetic analysis in disease diagnosis to provide tailored treatments for patients.
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 (China, Japan, India, and RoAPAC), Latin America, and Middle East & Africa. North America accounted for the largest share of the global next-generation sequencing market, followed by Europe and Asia Pacific. However, next-generation sequencing market in Asia-Pacific region is expected to register the fastest CAGR during the forecast period. Growth in this market is expected to be driven by increased investments to enhance accessibility of healthcare services, improved healthcare infrastructure, and continuous growth in drug discovery programs. In addition, government initiatives and investments towards genome sequencing and launch of various research initiatives for the development of personalized treatment are expected to drive the market growth in the Asia Pacific region during the forecast period.
The key players operating in the global next-generation sequencing market are Illumina, Inc. (U.S.), Agilent Technologies, Inc. (U.S.), Bio-Rad Laboratories, Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), Qiagen N.V. (Netherlands), PerkinElmer, Inc. (U.S.), F. Hoffmann-La Roche AG (Switzerland), 10X Genomics, Inc. (U.S.), Pacific Biosciences of California, Inc. (U.S.), Oxford Nanopore Technologies Ltd (U.K.), Beckman Coulter, Inc. (U.S.), GenapSys, Inc. (U.S.), New England Biolabs, Inc. (U.S.), PierianDx (U.S.), and BGI Genomics (China).
Key questions answered in the report-
- Which are the high growth market segments in terms of product type, sequencing type, technology, application, end user, and regions/countries?
- What was the historical market for NGS across the globe?
- What are the market forecasts and estimates for the period 2019-2025?
- What are the major drivers, restraints, challenges, opportunities, and trends in the global NGS market?
- Who are the major players in the global NGS market?
- How is the competitive landscape and who are the market leaders in the global NGS market?
- What are the recent developments in the global NGS market?
- What are the different strategies adopted by the major players in the global NGS market?
- What are the geographical trends and high growth regions/ countries?
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