Global Next Generation Sequencing (NGS) market is poised to reach USD 7,009.8 billion by 2022 owing to technological advancements
Hyderabad, India -- (SBWIRE) -- 01/10/2018 -- The report " Next Generation Sequencing (NGS) Market by Application – (diagnostics, Drug Discovery, Biomarker Discovery, Personalized Medicine, And Agriculture And Animals Research) By Technology – (whole Targeted Re-sequencing, Genome Sequencing, De Novo Sequencing, Exome Sequencing, RNA-Seq, Chip-Seq And Methyl-Seq) By Product - (software And Services) and By Region - Global Industry Analysis, Size, Share, Growth, Trends, And Forecasts(2017–2022)".
Global Next Generation Sequencing (NGS) market which was estimated at USD 2,580.4 million by the end of 2016. By 2022 at a CAGR of 18.66%, the Global Next Generation Sequencing (NGS) market is anticipated to reach USD 7,009.8 billion. Modern technologies assist within the sequencing of deoxyribonucleic acid and ribonucleic acid rather more quickly and cheaply than the Sanger sequencing and these have remodelled the study of genetic science and biological science. The arrival of next-generation sequencing technologies has brought significant changes within the sequencing method by providing speed, flexibility and reduced sequencing price over thousand folds. The next generation analysis the market which is anticipated to visualize the quickest growth throughout the forecast period.
The key circumstances which are responsible for increasing the growth of Global Next Generation Sequencing (NGS) market Advancements in pre-sequencing and NGS bioinformatics solutions, Rise in the growth of customized drugs and cloud computing, increasing incidences of infectious diseases, growth in world population, and cancer are few factors driving the market growth. Additionally, anticipated decrease within the costs of genome sequencing thanks to the development of fast, high capability whole genome sequencers by key players is predicted to own a positive impact on penetration rates over the few years. However, the storage and management of knowledge generated by sequencing and its interpretation, high responsibility on grants & funding from the government and fall in cost from academic institutions are few factors preventative the expansion of worldwide next- generation sequencing market.
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According to the Market data forecast, The Global Next Generation Sequencing (NGS) market has been organized into on the basis of product, application, and technology. According to the application, it is subdivided into biomarker discovery, drug discovery, and agriculture & diagnostics, personalized medicine, Animals research. By technology, Global Next Generation Sequencing (NGS) market is categorized into Exome sequencing, genome sequencing, de novo sequencing, Chip-Seq and Methyl-Seq, RNA-Seq, targeted re-sequencing. By product it consists of software and services. Targeted sequencing accounts for the biggest share of the market, but due to the expected development of genome sequencing capabilities, the sooner section is predicted to lose market share by 2022.
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According to the geographical analysis by market data forecast, the Global Next Generation Sequencing (NGS) market is classified into North America, Europe, Asia Pacific, Latin America and Middle-East & Africa. North America is poised to account for the prime market share of the NGS market, followed by Europe. Asia-Pacific region presents vital opportunities for the investor's capitalists as a result of the developed markets get saturated. The presence of significant developments in China and Japan for integration of recent technologies, and so the event of care, R&D and clinical development frameworks of developing economies like Asia and Australia have a junction rectifier to the Asia Pacific market to witness satisfying growth throughout the forecast period.
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At present, future generation sequencing market is combined with some market players owing to the involvement of exceptionally difficult technologies and therefore the low target market for the systems. The market is dominated by Illumina, which accounted for the biggest market share of 70%. Other prominent players in the Next Generation Sequencing (NGS) market include Thermo Fischer Scientific, GATC Biotech Ag, Pacific Biosciences, Qiagen N.V, Macrogen Inc.,Partek Inc.,., Biomatters Ltd., BGI (Beijing Genomics Institute), Perkin Elmer inc Oxford Nanopore Technologies Ltd.,DNASTAR Inc., Genomatix Software GmbH, Knome Inc., and Agilent Technologies Inc.
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