London, March 17, 2020 (GLOBE NEWSWIRE) -- Next-Generation Sequencing (NGS) technology is applied to detect the sequence of nucleotides in any given DNA sample. This technology empowers the biotechnology organizations & research institutes in faster and cost-effective sequencing of DNA or RNA.
According to a new market research report “Next Generation Sequencing Market by Product Type (Consumables, NGS Platform, Software), Sequencing Type (Targeted, Whole Genome), Technology (Sequencing by Synthesis, Nanopore), Application (Clinical, Research), End User, and Geography - Global Forecast to 2025”, published by Meticulous Research®, the next-generation sequencing market is expected to grow at a CAGR of 16.2% from 2019 to reach $10.35 billion by 2025.
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The growth of the next-generation sequencing market is majorly driven by technological advancements in sequencing procedures, surge in genome mapping programs, and increase in drug discovery platforms demanding NGS technology. Further, growing government initiatives for large-scale genomic sequencing projects and emergence of cloud computing as a potential data management service is expected to support the growth of the NGS market through 2025.
List of the Key Companies Operating in the Next Generation Sequencing Market:
- Illumina, Inc. (U.S.)
- Agilent Technologies, Inc. (U.S.)
- Bio-Rad Laboratories, Inc. (U.S.)
- Thermo Fisher Scientific Inc. (U.S.)
- Qiagen N.V. (Netherlands)
- PerkinElmer, Inc. (U.S.)
- F. Hoffmann-La Roche AG (Switzerland)
- 10X Genomics, Inc. (U.S.)
- Pacific Biosciences of California, Inc. (U.S.)
- Oxford Nanopore Technologies Ltd (U.K.)
- Beckman Coulter, Inc. (U.S.)
- GenapSys, Inc. (U.S.)
- New England Biolabs, Inc. (U.S.)
- PierianDx (U.S.)
- BGI Genomics (China)
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Based on product type, the consumables segment commanded the largest share of the overall next generation sequencing market in 2019 and is anticipated to grow with the fastest CAGR during the forecast period. The large share of this segment is mainly attributed to the increasing use of sequencing reagents and kits for diagnostic procedures in diagnostic laboratories and recurrent use of consumables in sequencing procedures.
Based on technology, the sequencing by synthesis (SBS) segment commanded the largest share of overall next-generation sequencing market in 2019, owing to high accuracy in DNA sequencing, highest yield of error-free throughput, and growing incorporation of this technology in NGS products. However, single molecule real-time sequencing is anticipated to grow with the fastest CAGR during the forecast period owing to increasing installations, shorter run times, ease in use, and low cost.
Based on end user, the clinical diagnostic laboratories segment commanded the largest share of the overall next-generation sequencing market in 2019 and is anticipated to grow with the fastest CAGR during the forecast period. This growth is primarily attributed to an increasing volume of diagnostic procedures performed in clinical diagnostic laboratories, growing adoption of NGS products, and high inclination towards genetic analysis in diagnosis to provide tailored treatment.
Geographically, the North America region commanded the largest share of this market in 2019, followed by Europe. The large share of North America region is mainly attributed to the factors such as presence of key players, frequent product launches, high inclination towards new technologies, and growing investments in healthcare sector. However, Asia-Pacific region is anticipated to grow with the fastest CAGR.
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The report provides competitive intelligence in terms of financials, growth strategies, product portfolios, and geographical presence on some of the key players in this market including Illumina, Inc. (U.S.), Agilent Technologies, Inc. (U.S.), Bio-Rad Laboratories, Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), Qiagen N.V. (Netherlands), PerkinElmer, Inc. (U.S.), F. Hoffmann-La Roche AG (Switzerland), 10X Genomics, Inc. (U.S.), Pacific Biosciences of California, Inc. (U.S.), Oxford Nanopore Technologies Ltd (U.K.), Beckman Coulter, Inc. (U.S.), GenapSys, Inc. (U.S.), New England Biolabs, Inc. (U.S.), PierianDx (U.S.), and BGI Genomics (China), among others.
Key questions answered in the report-
- Which are the high growth market segments in terms of product type, sequencing type, technology, application, end-user, and regions/countries?
- What was the historical market for NGS across the globe?
- What are the market forecasts and estimates for the period 2019-2025?
- What are the major drivers, restraints, challenges, opportunities, and trends in the global NGS market?
- Who are the major players in the global NGS market?
- How is the competitive landscape and who are the market leaders in the global NGS market?
- What are the recent developments in the global NGS market?
- What are the different strategies adopted by the major players in the global NGS market?
- What are the geographical trends and high growth regions/ countries?
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Browse Adjacent Reports:
Next-Generation Sequencing Services Market by Service Type (Targeted Sequencing, Exome, RNA-Seq, ChIP Sequencing), Technology (Sequencing by Synthesis, Nanopore, SMRT), Application (Clinical Diagnosis, Biomarker Discovery), and End User - Global Forecast to 2025
Healthcare IT Market by Product (EMR, mHealth, PHM, RIS, PACS, RCM, Healthcare Analytics, Telehealth, SCM, HIE), Component (Software, Service), Delivery Mode (Web, Cloud) and End User (Hospital, Payer, Pharmacy, Ambulatory, Homecare) - Global Forecast to 2027
Clinical Trial Materials and Supplies Market by Service (Logistics, Manufacturing), Clinical Trial Type (Therapeutic, Diagnostics), Phase (Phase 2, Phase 3), Medical Specialty (Oncology, Diabetes), and End User (Pharmaceutical, CRO)- Global Forecast to 2025
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