New York, Sept. 18, 2019 (GLOBE NEWSWIRE) -- Government initiatives for large scale NGS based projects, collaborations for technical advancements in NGS and declining costs are key factors contributing to high CAGR of next generation sequencing market during the forecast period.
According to the current analysis of Reports and Data, the global next generation sequencing market was valued at USD 5,793.4 million in 2018 and is expected to reach USD 19,122.4 million by the year 2026, at a CAGR of 15.9%. Next-generation sequencing non-Sanger based high throughput method of sequencing. Entire next generation sequencing methodology engages a wide range of reagents, kits, equipment, software and tools for the pieces of its entire workflow that includes sample preparation, library preparation & amplification, sequencing, and analysis. Due to the constant innovations in the NGS technologies, there has been a significant decline in the sequencing costs, complexity and turnaround time. Horizons of the NGS applications is expanding, which in turn offers ample opportunities to emerging as well the existing market players.
Illumina, ThermoFisher Scientific, Pacific biosciences, and Oxford Nanopore Technologies are among key innovators of next generation sequencing technologies. Based on the application, individual technologies are conquering the NGS markets across the globe. Illumina’s SBS technology remains the top choice of the researchers across the globe, considering the reducing costs and high precision. Clinical Diagnostic applications of NGS is dominated by ThermoFisher’s semiconductor NGS technology owing it to its less turnaround time. Pacific Biosciences’ long read sequencing technology is paving its success path for the de-novo sequencing applications. Oxford Nanopore remains a key innovator with its long read, portable, real-time sequencing offerings. Despite differences in the technological basis of individual companies, the market players in NGS products & services are focused on providing low cost, efficient, reliable, user friendly, compact and accurate sequencing experience to their customers. Furthermore, bioinformatics tools plays a vital role in the advancement of NGS workflow and analysis, and continues to register significant growth in the global market. Also, NGS services holds more than one fourth of the revenue generated in the global next generation sequencing market and is fragmented in nature, unlike NGS products market.
Furthermore, increased government initiatives, availability of research funds from private as well as public bodies, improvement in the reimbursement scenario for NGS based diagnostics, and rising awareness about benefits of NGS technologies are among the key factors propelling the growth of next generation sequencing market.
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Further key findings from the report suggest
- NGS platforms segment is expected to grow with a CAGR of 14.7% during the forecast period. Consumables remains the chief revenue generating segment in global next generation sequencing market
- Diagnosis of complex diseases, whole-genome sequencing, analysis of epigenetic modifications, mitochondrial sequencing, transcriptome sequencing, and exome sequencing, are among the key applications of NGS contributing to the market growth
- The volume of data generated from sequencing has significantly increased as a result of wide scale use of next generation sequencing. Consequently, the demand for NGS data analysis & data management tools & software is on surge
- RNA-Seq through next generation sequencing allows profiling of the entire transcriptome, including the coding and non-coding regions; and facilitates gene identification, provides information on their relative abundance, identification of novel transcripts, detection of other genetic variation
- Reduced costs and increased reliability of underlying NGS technologies has allowed next generation sequencing to flourish for research applications as well as healthcare applications such as clinical development, and clinical diagnostics
- North America remains the key revenue generating geographical segment in next generation sequencing market. The geographical segment accounted for USD 1.88 billion in 2018. Availability of research funds from public as well as private sources, availability of state-of-art technologies, presence of key market players in the region, favorable reimbursements for NGS based diagnostics, rising focus on precision medicine, and rising awareness about NGS applications, are among the key factors driving the market growth for next generation sequencing in this region
- The global next generation sequencing market is highly fragmented with major players like Illumina, Inc. (U.S.), Thermo Fisher Scientific, Inc. (U.S.), Pacific Biosciences of California, Inc. (U.S.), Oxford Nanopore Technologies, Ltd. (U.K.), BGI (China), PerkinElmer (U.S.), Agilent Technologies (U.S.), QIAGEN N. V. (Germany), Macrogen Inc. (South Korea), and Eurofins Scientific (Luxembourg), collectively constituting a competitive market
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Segments covered in the report:
For the purpose of this report, Reports and Data has segmented the Next Generation Sequencing market on the basis of product and service, technology, application, end user and region:
Product & Service Outlook (Revenue in Million USD; 2016–2026)
- Pre-sequencing Products and Services
- Sample Preparation
- Library Preparation & Target Enrichment
- Quality Control
- NGS Consumables
- NGS Platforms
- Illumina
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- Hiseq Series
- Hiseq X Ten & HiSeq X Five
- Miseq Series
- NextSeq500
- MiniSeq
- NovaSeq
- iSeq
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- Thermo Fisher Scientific
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- Ion PGM
- Ion Proton
- Ion Genestudio S5
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- Pacific Biosciences
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- Ion GeneStudio S5 System
- Ion GeneStudio S5 Plus System
- Ion GeneStudio S5 Prime System
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- Services for NGS Platforms
- Sequencing Services
- Exome & Targeted Sequencing and Custom Panels
- RNA-Seq
- Whole-genome Sequencing and De Novo Sequencing
- Other Services
- Bioinformatics
- NGS Data Analysis Software & Workbenches
- NGS Data Analysis Services
- NGS Storage Management and Cloud Computing Solutions
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- Oxford Nanopore Technologies
- Other Next-generation Platforms
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- Pacbio Sequel Systems
Technology Outlook (Revenue in Million USD; 2016–2026)
- Sequencing by Synthesis (SBS)
- Ion Semiconductor Sequencing
- Single-molecule Real-time Sequencing (SMRT)
- Nanopore Sequencing
- Other Technologies
Application Outlook (Revenue in Million USD; 2016–2026)
- Diagnostics
- Cancer Diagnostics
- Infectious Disease Diagnostics
- Reproductive Health Diagnostics
- Other Diagnostic Applications
- Drug Discovery
- Agricultural and Animal Research
- Other Applications
End User Outlook (Revenue in Million USD; 2016–2026)
- Academia & Research Centers
- Hospitals & Clinics
- Pharmaceutical & Biotechnology Companies
- Other End Users
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Regional Outlook (Revenue in Million USD; 2016–2026)
- North America
- U.S.
- Europe
- France
- UK
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- Middle East and Africa
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