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(Wireless-NewsWire.Com, August 03, 2018 ) The next generation sequencing market is estimated to grow at a CAGR of 21.1% during the forecast period from 2018 to 2025. The next generation sequencing market is estimated to reach US$ 26,501.25 Mn by 2025.
Next generation sequencing (NGS) is the technology which is used to align millions of small fragments of DNA simultaneously that are capable of processing multiple DNA sequences in parallel. The arrival of rapid DNA sequencing methods has significantly enhanced biological and medical research and discovery. The demand for next generation sequencing technology has been increasing widely due to the rise in genetic tests. The availability of next generation sequencing at low cost, technological advancements and high prevalence of cancer cases during the previous years. Also, the companies operating the next generation sequencing market have been investing substantial time and amount in research and development activities, through which better technologies can be introduced in the market.
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In our study, we have segmented the next generation sequencing market by product, service, application and end-users. The products considered in the study are platform, services, and consumables. The platform segment is further segmented as Hiseq, Miseq, Solid, ION Torrent, Pacbio Rs II & Sequel Systems. The sub-segment of services is further divided as sequencing services and data management & analysis services. Consumables is further bifurcated as sample preparation consumables, library preparation & target enrichment kits & reagents, and quality control kits & reagents. The services segment is classified as genome sequencing. Exome sequencing, resequencing & targeted sequencing, and other services. The applications of next generation sequencing covered in the report include, diagnostics, drug discovery, precision medicine, and others. The end-users of next generation sequencing is classified as academic & research institutes, pharmaceutical & biotechnology companies, hospitals & clinics, and others. Geographically, the market for next generation sequencing is categorized as North America, Europe, Asia Pacific (APC), Middle East and Africa (MEA) and South and Central America (S&CAM).
The next generation sequencing market is witnessing a healthy growth rate during the previous years and is expected to witness similar trend in the coming years. The companies operating in the market of next generation sequencing provide their products and services for applications such as drug discovery, diagnosis, and precision medicine. With constant R&D activities, the companies have been focusing towards developing advanced techniques in next generation sequencing that can be useful for end users such as hospitals & clinics, academic institutions, etc. Various players have been upgrading their product portfolio by applying for approvals. With expansion activities, companies are focusing towards strengthening their customer base by providing services to varied applications.?
The next generation sequencing market is well established in North America region, especially in the U.S and Canada. Companies are engaging in expansion activities in order to strengthen their customer presence in the region of North America, For instance, Illumina, Inc. and Telegraph together launched a new company, Verogen, which would provide Illumina’s forensic sequencing technology to forensic customers in the US. Advancements in technologies and declining prices are considered to be the driving factors in the next generation sequencing market.
The major players operating in the market of next generation sequencing market include F. Hoffmann-La Roche AG, PerkinElmer, Inc., Oxford Nanopore Technologies, Ltd., Eurofins Scientific, Thermo Fisher Scientific, Beijing Genomics Institute, Agilent Technologies, Qiagen N.V., Macrogen, Inc., and Illumina, Inc. among others
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The Insight Partners
Sameer Joshi
+1-646-491-9876
sam@theinsightpartners.com
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