Next-generation Sequencing (NGS) Market Forcasted for Accelerated Growth by 2024

The next-generation sequencing is also acknowledged as high-throughput sequencing; it includes a number of several sequencing technologies that are new and modern such as Roche 454 sequencing, SOLiD sequencing, Illumina (Solexa) sequencing, and Ion torrent: Proton/PGM sequencing. These advanced technologies help in sequencing the RNA and DNA speedily and this method is cheaper and affordable than the Sanger sequencing method, which was used previously. Thus, next-generation sequencing has revolutionized the study of molecular biology and genomics.

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The next-generation sequencing market is globally segmented into product and services, technology, application, and end-user. On the basis of product and services, the global market is segregated into pre-sequencing products and services market, sequencing services market, NGS platforms, consumables, reagents, and services, and NGS data analysis, storage, and management (bioinformatics) market. Based on the technology, the market is categorized into ion semiconductor sequencing, nanopore sequencing, sequencing by synthesis (SBS), and single-molecule real-time (SMRT) sequencing. Depending on the application, the market is divided into drug discovery, precision medicine, marine research, forensic medicine, phylogeographic & phylogenetic studies, diagnostics, biomarker discovery, agriculture and animal research, and research in bio-fuels. Based on the end user, the market is fragmented into hospitals & clinics, agrigenomics organizations, research centers, academic & government institutes, NPOS, pharmaceutical & biotechnology companies, and consumer genomic companies

The advancements that are made in the technology vertical of sequencing platforms and the growing number of next-generation sequencing applications will encourage the global next-generation sequencing market growth in the future. Besides, the increasing adoption of the next-generation sequencing technologies in the research laboratories and research academic institutes projects to supplement the improvement of the market in the coming years. Nevertheless, the growing awareness amongst the consumers concerning the advantages of next-generation sequencing with the help of conferences and workshops are contributing to the growth of the market. In contrast, the growing issues such as the lack of skilled professionals and the storage of sequencing data are affecting the market growth negatively.

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Global Next-generation Sequencing (NGS) Market: Regional Analysis

The geographical segmentation of the next-generation sequencing market is diversified into Asia-Pacific, Europe, North America, and Rest of the World. The major market share is held by the North American region and will be the same in the coming years. The key factors that are contributing to this market growth are the existence of a large number of market players in the U.S. and the encouraging government schemes. Additionally, Asia Pacific region will grow substantially in the coming few years. Factors that attribute to this regional market growth are the development of the healthcare sector in the emerging nations and the positive initiatives that are taken by the government. Other factors such as the launch of developed and improved next-generation sequencing products and services anticipate contributing considerably towards the market growth.

Some of the key market players that are involved next-generation sequencing market include Gatc Biotech AG, Perkinelmer, Inc., Qiagen N.V., Macrogen, Inc., Pacific Biosciences of California, Inc., Oxford Nanopore Technologies, Ltd., Eurofins Scientific, F. Hoffmann-La Roche AG, Illumina, Inc., Agilent Technologies, Inc., Beijing Genomics Institute, and Thermo Fisher Scientific Inc.

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Global Next-generation Sequencing (NGS) Market by Geographical Analysis: North America( U.S.), Europe( UK, France, Germany), Asia-Pacific (China, Japan, India), Latin America( Brazil), Middle East and Africa

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