Next Generation Sequencing Market is Expected to Reach USD 22.3 Billion in 2025 & Growing at a CAGR of over 20% During the forecast period

Next Generation Sequencing (NGS), also referred as high throughput sequencing, is a powerful platform that sequences thousands to millions of DNA molecules simultaneously. The global next-generation sequencing market size was valued at USD 3.6 Billion in 2015 and is expected to reach USD 22.3 Billion in 2025, growing at a CAGR of over 20% over the forecast period.

Soaring automation in the pre-sequencing protocols and utilization of novel platforms for developing personalized medicine at a genetic level by prominent industry leaders are significant factors expected to enhance demand for NGS over the forecast period. Moreover, rising inclination of scientists and drug developers towards the NGS technology for implementing the approach of personalized medicine is anticipated to drive the NGS market through to 2025.

Furthermore, growing number of R&D projects in the fields of proteomics, transcriptomics and metabolomics, are also expected to escalate the demand for the technology. Genomics and proteomics studies utilize methods such as sequence determination and subsequent integrated data analysis to assemble and sort an array of structural information produced in these studies. Owing to application of NGS in the above studies, the NGS market is estimated to register growth over the forecast period.

Request For Free Sample Of The Report @ https://www.xpodenceresearch.com/Request-Sample/106913

Increasing application in oncology is anticipated to witness lucrative growth during the forecast period owing to the NGS’s rapid sequence development capabilities for allowing oncologists to access genetic information in a relatively less accessible, dense gene clusters. NGS is also equipped with products focusing on complete workflow--from sampling to report generation which can be attributed to NGS market growth. However, lack of skilled technical personnel and accuracy and standardization concerns in diagnostic testing are factors limiting the growth of the market.

Based on product, the market is segmented into consumables, platforms and services. The consumables segment is further divided into sample preparation consumables and other consumables. Further, the sample preparation consumables are further split into quality control, DNA fragmentation, end repair, A-Tailing & size selection and library preparation & target enrichment. HiSeq, MiSeq, Ion Torrent, SOLiD, Pacbio Rs II & Sequel System, and other sequencing platforms are classifications of the Platform product segment. The services segment is also divided into sequencing services which is sub categorized into RNA sequencing, whole exome sequencing, whole genome sequencing, targeted sequencing, chip sequencing, de novo sequencing, methyl sequencing whereas the data management services is categorized in NGS data analysis services, NGS data analysis software & workbenches, NGS storage, management and cloud computing solutions.

The consumables segment held the major market share in 2015 owing to the wide application in the sample preparation and other pre-requisite steps of NGS and is estimated to increase during the forecast period. Increased usage of targeted sequencing owing to associated benefits with a smaller dataset and reduction in sequencing costs accounts for the dominant share in the market.

The application segment is segregated into diagnostics, biomarkers and cancer, reproductive health, personalized medicine, agriculture and animal research and other applications. The diagnostics segment is anticipated to dominate the application segment of NGS market owing to development of NGS-based diagnostic tests by key market players and the increasing adoption of oncology and infectious diseases based NGS-based diagnostic tests.

Based on technology the market is distinguished into sequencing by synthesis (SBS), ion semiconductor sequencing, sequencing by ligation, pyrosequencing, single molecule real time sequencing and other technologies. Increasing demand for Illumina’s systems (including the HiSeq series and MiSeq), development of new and advanced NGS platforms and growing demand for NextSeq & HiSeq X Ten are factors attributing for the largest share of SBS technology in the NGS market.

Academic & Government Research Institutes, Pharmaceutical Companies, Biotechnology Companies and Hospitals & Clinics are a few end user of the market. The hospitals and clinics segment is expected to grow due to the increasing number of agreements between companies and hospitals for developing advanced products and tests in order to cater the requirements of hospitals and clinics.

Geographically, the market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa and Latin America. In 2017, the North America region commanded the largest share of the NGS market due to the presence of enhanced technological healthcare framework, high R&D investment for genomic and proteomic sequence determination for biomarkers research, and growing adoption of sequencing due to reduced cost per base pair.

Obtain Report Details @ https://www.xpodenceresearch.com/Reports/Next-Generation-Sequencing-Market

Furthermore, Europe NGS market is estimated to grow over the forecast period owing to academic & clinical labs located in the U.S., Germany, and UK. For instance, in June 2015, European headquarters of Illumina Inc. was inaugurated in Cambridge benefit from 10,000 genome project being carried out in UK.

Key companies in the NGS market include llumina, Inc., Thermo Fisher Scientific Inc., Roche Holding AG, Pacific Biosciences, Inc. GATC Biotech AG, QIAGEN N. V., BGI, Oxford Nanopore Technologies, Ltd., Eurofins Scientific, PerkinElmer, Inc., Agilent Technologies, Inc. and Macrogen, Inc.. The companies are focused to tap the market of inexpensive sequencing devices in routine medical checkups. For instance, Grail is developing an NGS technology which is set to launch in 2019 that allows detection of varied types of cancer even before the symptoms appear.

About Us-

Xpodence Research is a U.S. based Market Research Company and offers the most extensive collection of progressive surveying syndicated and customized research reports of various categories for private and public industries across the globe.

We offer the comprehensive market research solution for all the industries by performing the in-depth study of industry trends, verticals globally. We believe in building an eternal bond with our customers through providing them inclusive research study both customized and syndicated based on their specific requirements.

The organizations in every industry such as Technology, Pharmaceuticals, Consumable Goods, Food & Beverage and others demands a market-based solutions for various significant decisions based on productivity and output globally. Our services are tailored specifically to our clients by proposing them the potential outcome, based on our in-depth analysis and insights for exploring the growth strategies through providing the best possible decision for quality production.

Contact Us-

Xpodence Research
USA Office
244 , Madison Avenue
New York City, NY - 10016
United States
Toll Free +1- 844-445-2861
Email-sales@xpodenceresearch.com

This release was published on openPR.