Market Research Future (MRFR) speculates that the Global Next Generation Sequencing Market is presumed to demonstrate a healthy growth rate during the forecast period (2018-2023) owing to the technological advancements.
Next-generation sequencing (NGS), also termed as high throughput sequencing technology or massively parallel sequencing, has revolutionized the biological sciences. The NGS technology has transformed genomic research to an advanced level and allows to sequence a complete human genome in a small duration. The genetic material is pulled out in this process, fragmented, and associated with primers and adapters for amplification.
Next Generation Sequencing Market Highlights
The surge in focus on genomic research is expected to reinforce the growth of the next generation sequencing market. Reports that evaluate the healthcare industry have been made accessible by Market Research Future, which produces reports on numerous industry verticals that analyze the market progress and options. The market is expected to observe a stellar CAGR growth in the upcoming years.
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The accelerated rate of innovations in high throughput sequencing technology is projected to encourage the next generation sequencing market. The benefits achieved by providing speed and decreasing sequencing cost in the sequencing process is expected to create a strong base for the expansion of the next generation sequencing market in the approaching period.
Key Players – Next Generation Sequencing Market
The competitors have adopted diversified plans to increase their chances for success in the market. The creation of great competitive advantages is expected to aid in the development of the market. A substantial ascent in the number of promoters in the market is anticipated to shape a beneficial state of activities for the growth of the market in the forecasted period. The access to vital planned prospects imperative to the resultant stabilization of inflation is likely to produce a promising option for advancement in the forthcoming years. The growth of the market is influenced by the presence of factors that are stimulating the growth of the market. The need to create a sustainable competitive advantage has accelerated the progress of the market in the forecast period. The diversified consumer tastes and trends in the market are anticipated to lead to an escalated development rate in the market. The use of strategic tools to further the development of the market in the coming years.
- Illumina, Inc. (US),
- Pacific Biosciences of California, Inc. (US),
- Thermo Fisher Scientific, Inc. (US),
- BGI (China),
- PerkinElmer (US),
- Oxford Nanopore Technologies, Ltd. (UK),
- Agilent Technologies (US),
- QIAGEN N. V. (Germany),
- Macrogen Inc. (South Korea), and
- Eurofins Scientific (Luxembourg).
February 18, 2019: QIAGEN N.V. has recently announced an agreement with the Ares Genetics in order to develop innovative bioinformatics and assay solutions to augment research targeting the global health challenges posed by antibiotic-resistant bacteria.
Segments – Next Generation Sequencing Market
The global next generation sequencing market has been segmented on the basis of service and product, technology, end-user, and application.
By mode of technology, the global next-generation sequencing market has been segmented into whole exome sequencing, whole genome sequencing, methyl sequencing, CHIP sequencing, RNA sequencing, targeted resequencing, and de novo sequencing.
By mode of service and product, the global next-generation sequencing market has been segmented into consumables, sample preparation, sequencing services, and platforms and services for platforms. Among these, the consumables segment is likely to occupy the largest market share owing to the increasing sequencing procedures, advancements in the sequencing technologies, rising adoption and installation of NGS platforms, and launch of easy to use consumables.
By mode of application, the global next-generation sequencing market has been segmented into the genetic screening, drug discovery, agriculture and animal research, diagnostics, and others. Among these, the diagnostic segment is predicted to experience the highest growth rate owing to the rising number of new cancer cases globally, growing focus of key market players, and favorable reimbursement policies for NGS-based tests.
By mode of end-users, the global next-generation sequencing market has been segmented into hospitals and clinics, academic institutes and research centers, pharmaceutical and biotechnology companies, and others.
Regional Analysis – Next Generation Sequencing Market
The regional evaluation of the next generation sequencing market covers regions such as the Asia Pacific, the Americas, the Middle East, Europe, and Africa. The North American region is likely to be accountable for the chief market segment. The presence of factors such as the growth in customer necessities and augmented competition among players is estimated to push the growth of the next generation sequencing market. The upsurge in the number of funds and initiatives implemented by the government to reduce the cancer cases and the need to enhance the healthcare sector is expected to boost the market’s development.
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The European market is anticipated to control the second principal market share owing to the incidence of groundbreaking next-generation sequencing technology, a very sophisticated and educated population intent on next-generation technology (NGS). However, the presence of diverse rules and regulations and a split market all over the European region is likely to curb the growth of the market. The market portion in the Asia Pacific region is also likely to undergo growth in the near future owing to access to ideal treatment facilities and rising demand for advanced technology, improved adoption rate, upsurge in disposable income, and intensifying investments by pharmaceutical companies. The Middle Eastern and African region is foreseen to be responsible for the minimum share of the next generation sequencing market owing to a weak healthcare sector and underprivileged medical facilities.
Some Brief Table of Contents of Report
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.2 Scope Of The Study
2.2.1 Research Objective
Chapter 3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment
Chapter 5. Market Factor Analysis
5.1 Porters Five Forces Analysis
5.1.1 Bargaining Power Of Suppliers
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