Next Generation Sequencing Market Expected to Witness Huge Growth During the Forecast Period | Leading Key Players: Thermo Fischer Scientific, Pacific Biosciences, Partek, Genomatix Software GmbH, Perkin Elmer, Agilent Technologies, BGI, and Qiagen

Modern technologies assist in the sequencing of DNA and RNA much more quickly and cheaply than the Sanger sequencing and these have transformed the study of genomics and molecular biology. The arrival of next-generation sequencing technologies has brought noteworthy changes in the sequencing process by providing speed, flexibility and reduced sequencing cost over thousand folds.

Global Next Generation Sequencing Market Size:

According to Market Data Forecast, The Global Next Generation Sequencing Market which was worth USD 3.63 billion by the end of 2018 is poised to reach USD 8.54 billion by 2023 at a CAGR of 18.66%.

The next generation data analysis market is anticipated to see the fastest growth during the forecast period. With an expected increase in the enactment of whole genome sequencing, the following data generated from sequencing projects is predicted to grow harmonically with the number of sequencing projects.

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Advancements in pre-sequencing and NGS bioinformatics solutions, Rise in growth of personalized medicine and cloud computing, increasing incidences of infectious diseases, growth in global population, and cancer are few factors driving the market growth. In addition, anticipated decrease in the prices of genome sequencing due to development of rapid, high capacity whole genome sequencers by key players is expected to have a positive effect on market penetration rates over the few years. However, the storage and management of data generated by sequencing and its interpretation, high reliability on grants & funding from the government and fall in capital expenditure from academic institutions are few factors hindering the growth of global next generation sequencing market.

Market Segmentation:

The Next Generation Sequencing market is categorized by product (software and services) and by technology. By technology it is sub segmented into targeted re-sequencing, genome sequencing, de novo sequencing, exome sequencing, RNA-Seq, ChIP-Seq and Methyl-Seq. And by application it is sub segmented into diagnostics, drug discovery, biomarker discovery, personalized medicine, and agriculture & animals research. Targeted sequencing accounts for the largest share of the market, however owing to the expected development of whole genome sequencing capabilities, the earlier segment is expected to lose market share by 2022

Each market is further analyzed at a ground level by geography, under Asia-Pacific, North America, Europe, Latin America, and Africa & Middle-East. North America is poised to account for the prime market share of the NGS market, followed by Europe.

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Asia-Pacific region presents significant opportunities for the investors/venture capitalists as the developed markets get saturated. The presence of noteworthy developments in China and Japan for integration of new technologies, and the development of healthcare, R&D and clinical development frameworks of developing economies such as India and Australia have led to the Asia Pacific market to witness rewarding growth throughout the forecast period.

Next Generation Sequencing Market Insights:

1. Japan has the largest share in Asia-Pacific NGS Market which accounts for 38% of the total market in 2018.
2. China is expected to grow at the highest CAGR showing with Y-O-Y Growth Rate between 20.3% to 30.6% range, over the forecast period 2018-2021
3. Whole Targeted Re-Sequencing Technology is the most used technology followed by Transcriptome (RNA-Seq)
4. Based on Application, Drug Discovery & Development has the highest share in the market
5. Academic Institutes & Research Centers has the highest share of 59% followed by Biotech/pharmaceutical companies in 2018.

At present, the next generation sequencing market is amalgamated with a few market players due to an involvement of exceptionally complicated technologies and the low target audience for the systems. The market is dominated by Illumina, which accounted for the largest market share of approximately 70%.

Major Companies Dominating the Global Next Generation Sequencing Market are:

• Thermo Fischer Scientific
• Pacific Biosciences
• Macrogen Inc
• Partek Inc
• Genomatix Software GmbH
• Perkin Elmer inc
• GATC Biotech Ag
• Agilent Technologies Inc
• Biomatters Ltd
• BGI (Beijing Genomics Institute)
• Oxford Nanopore Technologies Ltd
• DNASTAR Inc
• Knome Inc
• Qiagen N.V

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Reasons to Purchase this Report:

• Current and future Global Next Generation Sequencing Market outlook in the developed and emerging markets
• Analysis of various perspectives of the market with the help of Porter’s five forces analysis
• Identifying the segment that is expected to dominate the market
• Regions that are expected to witness the fastest growth during the forecast period
• Identify the latest developments, market shares, and strategies employed by the major market players
• 3-month analyst support, along with the Market Estimate sheet (in Excel)

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This release was published on openPR.