Next-Generation Sequencing Market to Increase Exponentially During 2021-2027

Precision Business Insights published a research report on “Next-Generation Sequencing Market: By Product And Service Type (Pre-sequencing products and services market,( DNA fragmentation, size selection, A-tailing, and end repair, Library preparation and target enrichment, Quality control), Sequencing services market (Targeted sequencing/gene panels, RNA-Seq, De Novo sequencing, Exome sequencing, Chip-Seq, Whole-genome sequencing, Methyl-Seq, others ), Next-generationn Sequencing, Data Analysis, storage, and management (Bioinformatics) market (NGS data analysis software & workbenches, NGS data analysis services, NGS storage management and cloud computing solutions)), By Technology (Ion semiconductor sequencing, Sequencing by the synthesis (SBS), Nanopore sequencing, Single-molecule real-time (SMRT) sequencing), By Application (Drug discovery, Diagnostics, Agriculture and animal research, Biomarker discovery, Precision medicine, Other applications),BY End User (Biotechnology and Pharmaceutical Companies, Research Centres, Hospitals & Clinics, Others), and Geography- Global/Region/Country Forecast to 2027”.

The global Next-Generation Sequencing Market was valued at US$ 9.5 Bn in the year 2020 and is anticipated to record US$ 27.67 Bn till 2027 witnessing a CAGR of 16.5% over the forecast period 2021-2027.

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Increase in R&D activities is driving Next-Generation Sequencing Market
Next generation sequencing refers to the process to sequence DNA threads alike to the nucleotides in a DNA molecule. Use of next-generation sequencing method lessens the changes of using fragment-cloning technique utilized to sequence genomes by Sanger’s method. Next-generation sequencing is one of the most favored methods over the Sanger’s method. It is frequently used method in personalized medicine, oncology studies, agricultural and animal research and biomarker discovery. Furthermore, some crucial uses of next-generation sequencing method are in identification of binding sites of a transcriptional factor, re-sequencing of targets and non-coding RNA expression profiling.

Technological advancement in next-generation sequencing is significant market driving factor. There are a few factors, which are projected to impel the next-generation sequencing market growth such as personalized medicine development, growing gene mapping programs, reducing price of sequencing and increase in different applications. Furthermore, drug discovery applications and growing R&D activities are also fueling the market growth. On the other hand, high reliability on funding given by the government, dearth of capable experts and legal and ethical problems in management and storage of patient data and interpretation can hinder the market growth over the forecast duration 2021-2027. Moreover, increase in collaborations, launching of novel services by key players and huge adoption of NGS amid research labs foster the market growth.

Next-Generation Sequencing Market Analysis on Geographical Basis
Next-Generation Sequencing Market is categorized into different major regions such as North America, Latin America, Europe, Asia Pacific, Africa and Middle East. North America is anticipated to witness major share in the market due to the growing R&D activities for genomic and proteomic determination, growing adoption of next-generation sequence, decrease in the price and growing healthcare infrastructure in the region. Furthermore, most of the end users from Germany, U.S and U.K are opting for next-generation sequencing for academic and clinical use because of the presence of universities providing molecular biology course in these regions can drive the market growth.

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Competitive Analysis
There are several key players operating in the global next-generation sequencing market such as Agilent Technologies, Inc. (U.S.), Illumina, Inc. (U.S.), Pacific Biosciences (Danaher Corporation) (U.S.), Qiagen N. V. (Germany), Beijing Genomics Institute (China), PerkinElmer, Inc (U.S.), F. Hoffmann La Roche AG (Switzerland), Genomatix GmbH (Germany), Oxford Nanopore Technologies (U.K.), and Eurofins Scientific (U.S.) These key players are focusing more on reinforcing their position in the market by introducing new product into the market.

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