Report segments Next-Generation Sequencing (NGS) Market by Type (Products, Instruments & Software, Consumables, Services), Application (Diagnostics, Research), End User (Research Institutes, Healthcare Facilities & Diagnostic Centres, Pharmaceutical & Biotechnological Companies, Contract Research Organization) Market Solutions, Insights, Strategies, Investments, and Regional Analysis With Forecast To 2026.
Next-Generation Sequencing (NGS) Market 2020 Global Industry Analysis to 2026 is latest report on “Global Next-Generation Sequencing (NGS) Market”, published by Fortune Business Insights. According to report Global Next-Generation Sequencing (NGS) Market To Grow $31,411.3 Million at 22.2% Compound Annual Growth Rate (CAGR) by 2026. The Next-Generation Sequencing (NGS) Market was valued $6,335.2 Million in 2018.
The players operating in the global Next-Generation Sequencing (NGS) market are BGI, QIAGEN, Illumina, PierianDX, Hoffmann-Le Roche Ltd, Eurofins Scientific, Agilent Technologies, Inc., PerkinElmer, Macrogen Inc.
Global Next-Generation Sequencing (NGS) Market Highlights:
According to the report, The global next-generation sequencing (NGS) market size is projected to reach USD 31,411.3 million by 2026, exhibiting a CAGR of 22.2% during the forecast period. Next-generation sequencing is a DNA sequencing technology that has enhanced the potential of genomic research around the world. Before the advent of NGS, the Sanger sequencing technology was employed and the results took a decade to come out.
NGS has enabled sequencing the human genome within a day, making it highly efficient and preferred in the field of diagnostics. Even though this technology has not become as commonplace as it should have been, it is gaining popularity owing to the advantages it has compared to the preceding technologies. For example, compared to Sanger sequencing, next-generation sequencing techniques allow capturing of a broader spectrum of mutations. Moreover, NGS is more sensitive, thereby giving out more accurate results with just a few cell specimens. As the technology becomes more affordable, it will see an exponential rise in demand in the near future. More importantly, the product segment will dominate, as per the NGS market trends, owing to easy availability of new products.
Next-Generation Sequencing (NGS) Market Segment Analysis:
Next-Generation Sequencing (NGS) Market Size, Share and Industry Analysis By Type (Products, Instruments & Software, Consumables, Services), By Application (Diagnostics, Research), By End User (Research Institutes, Healthcare Facilities & Diagnostic Centres, Pharmaceutical & Biotechnological Companies, Contract Research Organization) & Regional Forecast, 2010-2026.
Next-Generation Sequencing (NGS) Market Regional Insights:
North America is expected to dominate the global next-generation sequencing market share, as of generated a revenue of USD 2,331.4 million in 2018. The primary reasons for this are high acceptance rate of new technologies, excellent government support, and presence of major players, along with rising prevalence of cancer in the region. Increasing investment in healthcare research and growing demand for precision medication are the factors driving the growth in Europe. In Asia-Pacific, rapidly evolving healthcare infrastructure, increasing public and private investment in healthcare research, and rising prevalence of chronic and genetic diseases will fuel the market.
Next-Generation Sequencing (NGS) Market Growth And Restraints Analysis:
Major companies are entering into strategic collaborations to strengthen their position in the NGS market as well as diversify their operations and product offerings. For example, in October 2019, Illumina and QIAGEN announced a 15-year partnership to make availability and utilization of NGS-based in-vitro diagnostics test kits more broad-based and commercialized. In a similar fashion, Swift Biosciences and Saphetor joined hands in June 2019 to standardize and speed up data interpretation techniques for targeted NGS panels.
Cancer is essentially a genomic disease and next-generation sequencing techniques are expected to play an important role in providing timely and accurate diagnosis of the disease in its early stages. Using NGS tools, cancer genomes can be studied more holistically and can revolutionize cancer diagnosis and prognosis by making the processes more precise. This can also aid ongoing efforts to make cancer treatments for children, such as the St. Jude—Washington University Paediatric Cancer Genome Project, more effective. Furthermore, the growing prevalence of cancer worldwide will augment the next-generation sequencing market growth. For example, in 2018, the International Agency for Research on Cancer under the WHO states, cancer incidence worldwide had risen to 18.1 million and cancer deaths had increased to 9.6 million.
Highlights of the Report:
In-depth analysis of various insights, namely, Next-Generation Sequencing (NGS) Market trends, growth drivers, opportunities, and other related challenges.
Comprehensive details of key market players, their core competencies, and Next-Generation Sequencing (NGS) Market share.
The potency of suppliers and buyers to make better business decisions.
Lists out the market size in terms of volume.
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Table of Content:
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
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