Global Next Generation Sequencing Market:
The global next generation sequencing market is expected to be valued at US$ 2,378.3 million in market and growing at a CAGR of 16.9% over the forecast period by 2026. Improvising cost related to NGS platforms and improving regulatory framework and reimbursement scenario for particular diagnosis tests related to NGS are the key drivers leading the global next generation sequencing market with low cost, high speed, accuracy are main advantages. Lack of skilled professionals, ethical and legal limitations are the resistance. New technology with include machine learning, predictive algorithms, automation of global analytic libraries, data scientists anticipate a multiple opportunity toward the global next generation sequencing market.
Increasing Number of People Who Required Individualistic Drug Treatment
It is noticed that the global next generation sequencing market is influenced mainly by the number of people who required individualized drug treatment which is the key factor causing the next generation sequencing market to grow. This trend is estimated to boost the next generation sequencing market over a next era. People are well aware of the facts and benefits pertaining of NGS. There is considerable number of rises in patients who ask the physician for NGS test seeking early detection or prevention of some deadly diseases. Hence there are around 16.1 million of people who currently need the global next generation sequencing market to find a better alternative for their problem.
North America dominates the market share in the global next generation sequencing market
North America contributed major revenue followed by Europe and Asia Pacific. North America dominated the market by high investment in R&D due to increase in cancer patients. Key role is played by innovations in genetic disease diagnosis and government bodies, consequently boosting the uptake of next generation sequencing technology. Europe led the market secondly by prominent market players and collaborations. Asia Pacific grow at CAGR of 20.7 %, obtained by simultaneous funding by government and private organization for innovative technology and biotechnology boosting the global next generation sequencing market.
Key player’s profiles in the global market include:
- Illumina, Inc.
- BGI Group
- PerkinElmer Inc.
- Hamilton Company
- Intrexon Bioinformatics GmbH
- Partek Incorporated
- DNASTAR, Inc.
- Hoffmann-La Roche Ltd.
- Becton Dickinson and Company
- Oxford Nanopore Technologies
- Agilent Technologies, Inc.
- Market players have witnessed the strategic collaboration and acquisition to expand product portfolio and strengthen their position in the market to enhance the revenue of the company.
- In June 2018, Thermo Fisher Scientific (US) offers sequencers that run on its Ion semiconductor technology (the second-largest segment of the technologies market). The company also offers reagents & consumables, software, and services for NGS research.
Global Next Generation Sequencing Market Report Description:
Global next generation sequencing market report gives comprehensive outlook on next generation sequencing market across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The report on global next generation sequencing market gives historical, current, and future market sizes on the basis of product type, application, technology, end user, and region. This report studies global next generation sequencing market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global next generation sequencing market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global next generation sequencing market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the global market report include suppliers, manufacturers, marketers, policy makers, and service providers engaged in global next generation sequencing market
Key Findings of the Report:
- Global next generation sequencing market expanding at significant CAGR over 2020 to 2026 owing due to increase in the rate number of people who required individualistic drug treatment
- Based on region, North America accounted for larger market revenue share in 2019 and projected gain market revenue share over the forecast period
- Players focusing on innovation of newer products and collaboration strategies to retain market position in global market
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2015-2019) and forecast (2020-2026)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
- Clinical Diagnosis
- Drug Discovery
- Biomarker discovery
- NGS Data Analysis
- Sequencing by Synthesis
- Ion Semiconductor Sequencing
- Single-molecule Real-time Sequencing
- Nanopore Sequencing
- Other Sequencing Technologies
By End User
- Academic Institutes & Research Centers
- Hospitals & Clinics
- Pharmaceutical & Biotechnology Companies
- Rest of Europe
- Australia & New Zealand
- ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
- South Korea
- Rest of Asia-Pacific
- Rest of Latin America
Middle East and Africa (MEA)
- Gulf Cooperation Council (GCC) Countries
- South Africa
- Rest of MEA