The Global market for Next Generation Sequencing is poised to reach $10 billion by December 2020, growing at a CAGR of approximately 20%. The Instruments & Consumables is the largest segment with a share of around half of the market in 2013. The fastest growing segment is the services with a highest CAGR during the forecast period. Industry players are interested in services segment as it provides additional revenue for the company while increasing the sales of instruments and reagents. The major players operating in the NGS market are Illumina Inc. (U.S.), Thermo Fisher Scientific (U.S.), Hoffmann-La Roche Ltd (Switzerland), Pacific Biosciences (U.S.) Agilent Technologies (U.S.), BGI (Beijing Genomics Institute) (China), Qiagen (Netherlands), Biomatters Ltd (New Zealand), and Genomatix Software GmbH (Germany).
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North America is currently the largest market for NGS. This is due to the increased awareness about the quick return of investments and accuracy. Asia-Pacific is one of the fastest growing segments. The NGS market can be segmented on the basis of Technology: Whole Genome Sequencing, Targeted Resequencing, Whole Exome Sequencing, RNA Sequencing, Chip Sequencing, De Novo Sequencing and Methyl Sequencing; Products: Instruments, Reagents & Consumables, and Services; End user: Hospitals & Healthcare Institutions, Academics, Biotech & Pharma Firms, and Others; Applications: Drug Discovery, Genetic Screening, Diagnostics, Personalized Medicine, Agriculture & Animal Research, Infectious Diseases among others; Geography: North America, Europe, APAC & RoW.
Increasing applications in clinical diagnosis boosting the market growth, speed, cost and accuracy to spur the market growth, efficient replacement for traditional technologies (Microarrays), and drug discovery applications demanding NGS technology are the major factors driving the growth of the market.
Legal & ethical issues to hamper the market growth, interpretation of complex data, and lack of skilled professionals are the major restraints that are hampering the NGS market growth.
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