Pune, India -- (SBWIRE) -- 05/08/2019 -- Our latest research report entitled Next-Generation Sequencing (NGS) Market (by product & services (consumables, platforms), technology (ion semiconductor, ligation), application (diagnostics, biomarkers, cancer, agriculture, animal research), end user (pharmaceutical companies, hospitals & clinics)) provides complete and deep insights into the market dynamics and growth of next-generation sequencing (NGS). Latest information on market risks, industry chain structure next-generation sequencing (NGS) cost structure and opportunities are offered in this report. The past, present and forecast market information will lead to investment feasibility by studying the essential next-generation sequencing (NGS) growth factors. According to the report, the global next-generation sequencing (NGS) market is projected to grow at a CAGR of 18.6% over the forecast period of 2018-2024.

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Next-Generation Sequencing (NGS) Market: Insights

The next generation sequencing (NSG) is the term used to describe a DNA sequencing technology. This technology has revolutionized genomic research and enables the sequencing of thousands of DNA molecules simultaneously. Next-generation sequencing is also known as second generation sequencing or high-throughput sequencing. This technology enables sequencing of genomes at high speed and at low cost. NGS allows researchers to perform a wide variety of applications include Diagnostics, Biomarkers and Cancer, Reproductive Health, Personalized Medicine, Agriculture, and Animal Research and Others. The use of NGS-Based Diagnostic in medicine to improve diagnostic accuracy and reduce unnecessary healthcare costs.

Next-Generation Sequencing (NGS) Market: Drivers and Restraints

The advantages offered by the Next-Generation Sequencing (NGS) over other sequencing platforms are driving the growth of Next-Generation Sequencing (NGS) market worldwide. This technology enables the sequencing of a sample more quickly and cheaply as compared to other sequencing methods. Its applications in diagnosing illnesses such as hematological disorders, dysmorphology, cancer, and vision & hearing impairment fuel the market growth. Additionally, technological advancements in the field of sequencing are contributing to the growth of the next generation Sequencing market. The rapid adaption of NSG in healthcare for identification and curation is anticipated to boost the growth of the next-generation sequencing market over the forecast period.

However, the less awareness about the DNA sequencing platforms in the developing region and lack of skilled expertise are restraining the growth next-generation sequencing market. Moreover, government organization is taking the initiative to promote next-generation sequencing (NGS) in various applications that are projected to create numerous growth opportunities in this market. The ongoing research and developments in this sector are expected to escalate the growth of next-generation sequencing market in upcoming years.

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Next-Generation Sequencing (NGS) Market: Regional Analysis

In terms of geographic, North America has led the next generation sequencing market. Factors such as accessibility of research funding and growing uses of NGS in diagnostics and genomics research drives the growth of this market in the North America region. In addition, Asia Pacific is the fastest growing region in this market. The growing awareness about the DNA sequencing in the treatment of several conditions, growing geriatric population, and the rapidly improving healthcare infrastructure are the key aspects that are expected to create a huge demand for this market in the Asia Pacific region.

Next-Generation Sequencing (NGS) Market: Segmentation

The report on global next-generation sequencing (NGS) market covers segments such as product & services, technology, application, and end user. On the basis of product & services, the sub-markets include consumables, platforms, and services. On the basis of technology, the sub-markets include sequencing by synthesis, ion semiconductor sequencing, sequencing by ligation, pyrosequencing, single molecule real time sequencing, and other technologies. On the basis of application, the sub-markets include diagnostics, biomarkers and cancer, reproductive health, personalized medicine, agriculture and animal research, and others. On the basis of end user, the sub-markets include academic & government research institutes, pharmaceutical companies, biotechnology companies, and hospitals & clinics.

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Next-Generation Sequencing (NGS) Market: Competitive Landscape

The report provides profiles of the companies in the market such as DNASTAR, Eurofins Genomics, macrogen, PerkinElmer Inc., Thermo Fisher Scientific Inc., Agilent Technologies, Inc., F. Hoffmann-La Roche Ltd, Illumina Inc., Pacific Biosciences of California, Inc., and QIAGEN.

Report Findings

1. Drivers

- Growing Application of Next-Generation Sequencing in Clinical Diagnosis of Hematological Disorders, Dysmorphology, Cancer, And Vision & Hearing Impairment.

- Effective Replacement for Traditional Technologies Such as Microarrays.

2. Restraints

- Lack of Skilled Professional Restrains the Growth of Next-Generation Sequencing.

3. Opportunities

- The growing use of Cloud Computing in NGS For Data Management.