The next generation sequencing market is forecast to exhibit a remarkable CAGR as the next-generation sequencing platform allows effective sequencing of millions of DNA molecules. Fortune Business Insights in a new report, titled “Next-Generation Sequencing: Global Market Analysis, Insights and Forecast, 2019-2026” offers a detailed analysis of the competitive landscape and market dynamics.
Growth Drivers:
- The demand for cost-effective, accurate, and fast DNA sequencing technologies is increasing and this is further giving rise to the dominance of next-generation sequencing platforms. This will further give rise to advanced sequencing technologies for clinical purposes, which is anticipated to drive the market.
- Increasing advancements in bioinformatics are likely to increase the adoption of next-generation sequencing platforms to facilitate the diagnosis of rare diseases. As per the report, the global market is expected to rise at a ferocious CAGR of 22.2% between 2018 and 2026.
- In 2018, the market was worth US$ 6,335.2 Mn and the market will be a howling success as it is projected to reach US$ 31,411.3 Mn by 2026. The demand for next-generation sequencing methodologies is increasing rapidly across several applications such as diagnostics, clinical research among others.
Report Highlights:
- Market Dynamics of the Industry
- In-depth Market Segmentation
- Historical and Projected Market Sizing in Terms of Value
- Recent Market Trends and Impact Factors
- R&D Status and Technology Overview
- Extensive Industry Structure Coverage
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Key Companies and Manufacturers Covered:
The study covers key players operating in the market along with prime schemes and strategies implemented by each player to hold high positions in the industry. Such a tough vendor landscape provides a competitive outlook of the industry, consequently existing as a key insight.
- Illumina, Inc.
- Thermo Fisher Scientific Inc.
- Hoffmann-La Roche Ltd
- Agilent Technologies, Inc.
- QIAGEN
- BGI
- PerkinElmer Inc.
- Eurofins Scientific
- Macrogen, Inc.
- PierianDx
- Other prominent players
Companies such as Illumina, Inc., Thermo Fisher Scientific Inc., and F. Hoffmann-La Roche Ltd are likely to lead in the next generation sequencing market. This is mainly on account of their strong geographical presence and diversified product portfolio. Moreover, Illumina was leading in the global market owing to its rising product sales. New product launches also helped the company to strengthen its market position.
North America Leads the Way Owing to Active Government Support
Among regions, North America is anticipated to lead the next generation sequencing market through the forecast duration. Rapid developments in precision medicine, next-generation DNA sequencing, and diagnostics are creating growth opportunities for the market. The market is likely to expand as companies in the biotechnology sector are continuously involving in research and development (R&D) activities, which fuels the market demand. Adapative Technologies developed a next-generation sequencing diagnostic test called ClonoSEQ for patients suffering from acute lymphoblastic leukemia or ALL and minimal residual disease or MRD. The test received FDA approval in September 2018, which in turn, contributes to the growth of the market in North America.
Increasing investments in precision medicine and a growing number of strategic collaborations are driving the market in Europe. Driven by these factors, the market in this region is expected to expand in the forecast period. Apart from these two regions, Asia Pacific is expected to expand at a remarkable growth on account of rising geriatric population and growing awareness about reproductive health.
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Market Segmentation:
By Application
- Diagnostics
- Research
- Others
By End User
- Research Institutes
- Healthcare Facilities & Diagnostic Centers
- Pharmaceutical & Biotechnological Companies
- Contract Research Organization (CROs)
By Geography
- North America [(United States- California, New York) and Canada]
- Europe (United Kingdom- England, Germany, France, Italy, Spain, and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, and Rest of Latin America)
- Middle East & Africa (South Africa, GCC, and Rest of the Middle East & Africa)
Research Methodology:
Fortune Business Insights follows a robust research methodology that involves data triangulation based on top-down, bottom-up approaches, and validation of the estimated market numbers through primary research. The information used to estimate the market size and forecast for various segments at the global, regional, and country level is derived from the most credible published sources and through interviews with the right stakeholders.
Growth rate or CAGR exhibited by a market for a certain forecast period is calculated on the basis of various factors and their level of impact on the market. These factors include market drivers, restraints, industry challenges, market and technological developments, market trends, etc.
Reasons to Purchase this Report:
- Estimates next generation sequencing market trends with SWOT analysis.
- Detailed business profiles including product offerings, recent developments, key financial information, and strategies employed by main market players.
- Analysis of various regions and countries that includes the demand and supply based actions, which consequently have a major influence on the market’s expansion.
- Market dynamics and opportunities for growth for players in the near future.
- Competitive landscape describing the market revenue shares of key players.
- Market segmentation analysis that deals with quantitative and qualitative research, discussing the influence of policy-based and economical aspects.
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KEY QUESTIONS ANSWERED:
- What are the key technological and next generation sequencing market trends shaping the market?
- What are the key opportunities in the market?
- What are the key companies operating in the market?
- Which company accounted for the highest market share?
- Why Choose Fortune Business Insights?
- What is the market size and growth rate of the global and regional market by various segments?
- What is the market size and growth rate of the market for selective countries?
- Which region or sub-segment is expected to drive the market in the forecast period?
- What Factors are estimated to drive and restrain the next generation sequencing market growth?
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