The global Next-Generation Sequencing Market is anticipated to reach USD 23.59 Billion by 2027, registering a CAGR of 10.9% throughout the forecast timeline, according to a recent report by Emergen Research. The advantages of high-performance sequencing over other sequences, such microarrays and sanger-sequences, are adding traction to the NGS market growth. The escalated availability of DNA sampling methods utilizing low sample inputs is anticipated to boost the adoption of next-generation sequencing across multiple clinical and research applications.
New England Biolabs’ technology uses magnetic beads in their prototype process is anticipated to boost the adoption of protocols for NGS sample preparation drastically. Moreover, the reduction in costs and weightage of NGS data as compared to traditional sequencing are predicted to positively affect the clinical research and boost the revenue growth.
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Rapid advancements in genetic sequencing and microfluidics have led the growth of cost-effective, precise, and quick test platforms that can be considered as POC systems. This contributes drastically to the well-funded and rapid development of next-generation sequencing market.
Key Highlights from the Report:
- The oncology application NGS is estimated to account for the largest share of the industry in terms of revenue over the projected timeline. The growth can be attributed to the rapid application of technology in establishing the connection between genetics and cancer.
- Targeted segment is anticipated to expand rapidly over the estimated timeframe owing to its distinct benefits in terms of coverage scope and multiplexing capabilities.
- Academic research occupied the largest share of the industry in 2019, accounting for nearly 53.9% market share attributable to these institutions being the key revenue generating areas due to the escalating penetration of sequencing technology in research activities.
- North America accounted for a critical contribution in revenue owing to the emergence of advanced integrated platforms in the United States. Asia Pacific is forecasted to expand at the highest CAGR in the projected timeframe owing to the increased expansion of molecular diagnostics field in APAC regions such as China. APAC market is estimated to register a CAGR of 11.5% throughout the estimated years.
- Major industry players include Nexus Corporation, Trimble, Inc., DeLaval, Antelliq, Heliospectra, InnovaSea Systems, Afimilk Ltd., Topcon Positioning Systems, AKVA group, and Deere & Company, among others.
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For the purpose of this report, Emergen Research has segmented the global Next Generation Sequencing Market on the basis of technology, workflow, application, end-use, and region:
Technology Outlook (Revenue, USD Billion; 2017-2027)
- Whole Genome Sequencing
- Targeted Sequencing & Resequencing
- Whole Exome Sequencing
Workflow Outlook (Revenue, USD Billion; 2017-2027)
- NGS Data Analysis
Application Outlook (Revenue, USD Billion; 2017-2027)
- Consumer Genomics
- Clinical Investigation
- Agrigenomics & Forensics
- HLA Typing/Immune System Monitoring
- Reproductive Health
- Metagenomics, Epidemiology & Drug Development
End-Use Outlook (Revenue, USD Billion; 2017-2027)
- Pharma & Biotech Entities
- Academic Research
- Hospitals & Clinics
- Clinical Research
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Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
Insights into our Other Published Healthcare Reports:
Oncology Informatics Market Size To Be Worth USD 8.01 Billion By 2027 Growing at a CAGR of 7.1%
Human Microbiome Modulators Market Size To Be Worth USD 5.24 Billion by 2027 Growing at a CAGR of 16.5%
Wound Care Market Size To Be Worth USD 28.15 Billion by 2027 Growing at a CAGR of 4.5%
eHealth Market Size To Be Worth USD 314.55 Billion by 2027 Growing at a CAGR of 22.4%
Medical Wearable Market Size Worth USD 34.89 Billion by 2027 Growing at a CAGR of 21.5%
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