The overall global Next-Generation Sequencing market is expected to grow at a significant CAGR rate of xx% from USD xx billion in 2018 to USD xx billion in 2026. The major factors such as rapid adoption of this technology by researchers and its usability as a substitute of microarray technology in addition to its higher throughput, increased accuracy, and affordable costs are driving the next generation sequencing market growth. However, factors such as reducing capital expenditure from academic institutions and huge dependability on grants funding from the government are hampering the next generation sequencing market growth. In addition, the analysis of a large amount of data generated by sequencers, and data storage and management are posing a major challenge. The growth opportunities of this market include cloud computing, rising demand for pre-sequencing, developments in NGS fully integrated instruments and rising nanopore sequencing technology. There is a huge opportunity for this technology in the field of drug discovery, personalized medicine, agricultural and animal research.
Moreover, due to the rapid development of companion diagnostics in bringing advanced genomic and personalized medicine, is poised to increase the market growth in the near future. The advent of targeted therapies in oncology and other fields has significantly transformed the companion diagnostics. The NGS techniques are likely to help expand the companion diagnostics vertical, as NGS panels are capable of measuring several biomarkers in one test. Consequently, this makes the NGS method as ideal targeted therapies in delivering precision medicine. NGS services segment is anticipated to be a promising segment during the estimated period.
The next generation sequencing market is segmented based on product, application, technology, end user, and geography.
By Application: Diagnostics, Biomarkers and Cancer, Reproductive Health
By Technology: Ion, SMRT, Illumina
By End-users: Hospitals & Clinics, Pharmaceutical & Biotechnology Companies, Other End Users
By Product Type: Instruments, Reagents & Consumables
By Geography: America, Europe, Asia Pacific, and the Middle East and Africa.
The North American region accounts for the largest share of the next generation sequencing market. The European and Asian markets are also expected to grow due to the favorable funding from the government to adopt this technology. The major factors contributing to this market growth include rising adoption by new customers, rising adoption of high-throughput sequencing platforms by government organizations such as Biotechnology and Biological
Some of the key players operating in the global NGS market include Thermo Fisher Scientific, Inc., Illumina, Inc. Pacific Biosciences of California, Inc., Qiagen N.V., Roche, Agilent Technologies, Inc., Perkinelmer, Inc.
The report covers in-depth analysis of the Global Next-Generation Sequencing (NGS) Market. The report assesses the market products pipeline by stage of development (early development, pre-clinical, clinical and in approval), By Application (Diagnostics, Biomarkers and Cancer, Reproductive Health), By Technology (Ion, SMRT). In addition, the report includes key insights on other development activities, including (but not limited to) – licensing (In and Out), collaborations, acquisitions, reimbursement, patent, and regulatory designations.
The report includes in-depth company profiles of key players in the Global Next-Generation Sequencing (NGS) Market. The company profile includes key information on the overview, financial highlights, product portfolio, business strategies, and key recent developments.
The report highlights information on emerging companies with potentially disruptive technologies and new market entrants.
Data Collation (Primary & Secondary)
In-house Estimation (Based on proprietary databases and Models)
Market-related information is assembled from both primary and secondary sources.
Primary sources involved participants from all global stakeholders such as experts from several related industries and suppliers that have been interviewed to obtain and verify critical information as well as to assess prospects of the market. The participants included are CXOs, VPs, and managers. Plus, our in-house industry experts having decades of industry experience contribute their consulting and advisory services.
Secondary sources include public sources such as regulatory frameworks, government IT spending, government demographic indicators, industry association statistics, and company publications annual reports press releases along with paid sources such as Factiva, OneSource, Bloomberg among others.
Top-down and bottom-up approaches: The overall market size was used in the top-down approach to estimate the sizes of other individual submarkets (mentioned in the market segmentation by product, type of manufacturing, and disease) through percentage splits from secondary and primary research. The bottom-up approach was also implemented (wherever applicable) for data extracted from secondary research to validate the market segment revenues obtained.