Global Next Generation Sequencing (NGS) Market Set to Grow at Healthy CAGR of 22.7% by 2024
Posted: Sep 06, 2019
Global Next Generation Sequencing (NGS) Market accounted to USD 13.51 billion by 2022 growing at a CAGR of 22.7% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
Next Generation Sequencing (NGS) Market is also termed as high-throughput sequencing. It is a DNA sequencing technology in which millions and billions DNA strands are sequenced. It has revolutionized genomic research, as it minimizes the requirement for fragment-cloning methods used in Sanger sequencing of genomes.
Competitive Analysis: Global Next Generation Sequencing (NGS) Market
The Next Generation Sequencing (NGS) Market is highly fragmented and is based on new product launches and clinical results of products. Hence the major players have used various strategies such as new product launches, clinical trials, market initiatives, high expense on research and development, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of Global Next-Generation Sequencing (NGS) Market for global, Europe, North America, Asia Pacific and South America.
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Major Market Competitors: Global Next Generation Sequencing (NGS) Market
Some of the major players operating in Global Next Generation Sequencing (NGS) Market are Illumina, Inc., Thermo Fisher Scientific Inc., Pacific Biosciences of California, Inc., QIAGEN, BGI, Oxford Nanopore Technologies, PerkinElmer, Inc., GATC Biotech AG, Agilent Technologies, F. Hoffmann-La Roche Ltd, Macrogen, Inc., Eurofins Scientific, Biomatters Limited, Genomatix GmbH, PierianDx, Myriad Genetics, Inc., Partek Incorporated, DNASTAR, Inc., New England Biolabs among others.
Major Market Drivers and Restraints:
- Advanced technology in NGS platforms and increased applications of NGS.
- Increased in adoption of NGS among research laboratories and academic institutes.
- Efficient speed, cost, and accuracy of the technology.
- Drug discovery applications in NGS technology are some of the factors which drives the market.
- R&D investments are another factor to grow the market.
- Lack of skilled technicians.
- Accuracy and uniformity concerns in diagnostics testing limits the growth of market.
- Interpretation of complex data and issues regarding storage of sequencing data hinders the market.
- Legal and ethical issues are the challenge in the growing market.
- Emerging markets are proving the new opportunities in the growth of the market.
- Application of NGS in precision medicines & Biomarker discovery.
Market Segmentation: Global Next Generation Sequencing (NGS) Market
The Next Generation Sequencing (NGS) Market is segmented in Product and Services, which is segmented in Consumables, which is further bifurcated in Sample Preparation, which is again further classified in DNA Fragmentation, End Repair, A-Tailing, and Size Selection, Library Preparation & Target Enrichment, Quality Control and other consumables, Platforms, which is classified in HiSeq, MiSeq, Ion Torrent, SOLiD, Pacbio Rs II and Sequel System and other sequencing platforms, Sequencing Services, which is classified in RNA Sequencing, Whole Exome Sequencing, Whole Genome Sequencing, Targeted Sequencing, Chip Sequencing, De Novo Sequencing, Methyl Sequencing, Amplicon sequencing, Epigenomics, Digital Karyotyping and Metagenomics, Data Managemnet Services, which is further bifurcated in NGS Data Analysis Services, NGS Data Analysis Software & Workbenches, NGS Storage, Management and Cloud Computing Solutions.
- By Technology the NGS market is segmented in Sequencing by Synthesis, Ion Semiconductor Sequencing, Sequencing by Ligation, Pyrosequencing, Single Molecule Real Time Sequencing.
- By Application the market is classified in Diagnostics, Drug Discovery, Biomarker Discovery, Precision Medicine, Agriculture and Animal Research, Reproductive Health, Personalized Medicine, Oncology, Clinical Investigation, Forensics,. HLA typing/Immune System Monitoring, Metagenomics, Epidemiology.
- By End Users the market is spread in Hospitals & Healthcare institutions, Biotech & Pharma firms, Academic & Government Research Institutes, Pharmaceutical Companies, Biotechnology Companies, Clinical Research.
- By Geography the market covers the 5 major regions such as North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
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Data Bridge Market Research
Data Bridge Market Research set forth itself as an unconventional and neoteric Market research and consulting firm with unparalleled level of resilience and integrated approaches.