World Next Generation Sequencing (NGS) Technology Market Report| CAGR of 18.92% | Top Key Participant Analysis - Illumina, Inc, Thermo Fisher Scientific Inc, Qiagen N.V, F. Hoffmann-La Roche Ltd

Next generation sequencing (NGS) technology is revolutionizing life sciences research and healthcare. The speed, throughput and flexibility of NGS provides researchers with the means to gain valuable insights at a rate never possible. NGS is no longer used for purely academic research but are now spreading to clinical applications and helping to refine the understanding of disease. While recent technological developments have made NGS more accessible to smaller labs, many barriers to adoption still exist.

NGS Market Outlook:

The global market is estimated and forecasted in terms of revenue (USD million) generated by the NGS market from 2020 to 2025. The NGS market is majorly driven by increasing application in clinical diagnosis and technological development. Moreover, rise in drug discovery applications demanding NGS Technology coupled with Decreasing cost of NGS robust the growth of the NGS market. However, Lack of skilled professionals and end-user budget constraints in developing nations associated with the NGS are the prominent factors hindering the growth of the market.

NGS Market Key Players: The key players in the NGS market include

• Illumina, Inc
• Thermo Fisher Scientific Inc
• Pacific Biosciences of California, Inc
• Qiagen N.V,
• F. Hoffmann-La Roche Ltd
• Beijing Genomics Institute
• PerkinElmer, Inc,
• Agilent Technologies, Inc,
• Eurofins Genomics
• Oxford Nanopore Technologies and Macrogen Corp.

New product launches and partnership agreement are the prominent strategies adopted by major players in the market to reinforce their position in the global market. As the technologies advance, the market players will leave no opportunity to attract buyers with lucrative and sophisticated options.

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NGS Market Segmental Overview:

The report analyses the global NGS market by product & services, technology, application, end user and geography.

NGS Market by Product & Services:

Next-Generation Sequencing market is segmented into its product & services segments such as, consumables, platforms and services. The sample preparation of consumables is further sub segmented into DNA fragmentation, end repair, A-tailing and size selection, library preparation & target enrichment, quality control and other consumables. The technology of platforms covered in the reports are, HiSeq, MiSeq, Ion Torrent, SOLiD, Pacbio Rs II and Sequel System and other sequencing platforms. The global NGS market is segmented by its services such as sequencing services and data management services. The sequencing services are further segmented into RNA Sequencing, whole exome sequencing, whole genome sequencing, targeted sequencing, chip sequencing, de novo sequencing and methyl sequencing. The data management services are classified into NGS data analysis services, NGS data analysis software & workbenches and NGS storage, management and cloud computing solutions.

NGS Market by Technology:

The global NGS market is segmented into various technologies such as, sequencing by synthesis, ion semiconductor sequencing, sequencing by ligation, pyrosequencing, single molecule real time sequencing and other technologies. The sequencing by synthesis segment is expected to command the largest share of the next-generation sequencing market in 2018. The large share of this segment can be attributed to the continuous advancements in SBS technology-based consumables and NGS bioinformatics solutions as well as the launch of advanced cost- & time-efficient platforms based on SBS technology.

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NGS Market by Application:

Next generation sequencing finds applications in various fields such as diagnostics, biomarkers and cancer, reproductive health, personalized medicine, agriculture and animal research and others. The biomarkers and cancer segment dominate the global next generation sequencing market and is expected to maintain its dominance over the forecast period. Growth in this segment is attributed to the growing number of new cancer cases across the globe, favourable reimbursement scenario for NGS-based tests in the US and increasing focus of key market players on developing NGS-based products & services for cancer and NIPT.

NGS Market by End User:

Global next-generation sequencing market is segmented based on its major end users such as academic & government research institutes, pharmaceutical companies, biotechnology companies and hospitals & clinics. Among these, the academic institutes & research centres segment is expected to account for the largest share of the next-generation sequencing market in 2018, owing to the increasing number of collaborations between NGS market players and academic & research institutions, favourable funding scenario for genomic research across regions, and the development of cost-efficient NGS products and services for researchers.

NGS Market by Geography:

By geography NGS market is studied across the countries of key regions such as, North America, Europe, Asia Pacific and Rest of the World. North America includes United States, Canada and Mexico. The key European countries included in the report are Germany, United Kingdom, Italy, Spain and rest of the world. China, Japan, India, Australia and rest of Asia Pacific are the Asian countries studied for the global NGS market. Moreover, rest of the world includes Middle East & Africa and Latin America. North America is estimated to command the largest share in the global NGS market in 2018, followed by Europe and Asia-Pacific. The large share of North America in this market can primarily be attributed to government support for genomics research, the presence of leading NGS service providers, declining cost of sequencing coupled with the rising awareness of NGS services and increasing number of NGS-based research & clinical applications in the region.

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This release was published on openPR.