NGS Market Description:
Next generation sequencing (NGS) technology is revolutionizing life sciences research and healthcare. The speed, throughput and flexibility of NGS provides researchers with the means to gain valuable insights at a rate never possible. NGS is no longer used for purely academic research but are now spreading to clinical applications and helping to refine the understanding of disease. While recent technological developments have made NGS more accessible to smaller labs, many barriers to adoption still exist.
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NGS Market Outlook:
The global market is estimated and forecasted in terms of revenue (USD million) generated by the NGS market from 2020 to 2025. The NGS market is majorly driven by increasing application in clinical diagnosis and technological development. Moreover, rise in drug discovery applications demanding NGS Technology coupled with Decreasing cost of NGS robust the growth of the NGS market. However, Lack of skilled professionals and end-user budget constraints in developing nations associated with the NGS are the prominent factors hindering the growth of the market.
NGS Market by Technology
The global NGS market is segmented into various technologies such as, sequencing by synthesis, ion semiconductor sequencing, sequencing by ligation, pyrosequencing, single molecule real time sequencing and other technologies. The sequencing by synthesis segment is expected to command the largest share of the next-generation sequencing market in 2018. The large share of this segment can be attributed to the continuous advancements in SBS technology-based consumables and NGS bioinformatics solutions as well as the launch of advanced cost- & time-efficient platforms based on SBS technology.
NGS Market by Application
Next generation sequencing finds applications in various fields such as diagnostics, biomarkers and cancer, reproductive health, personalized medicine, agriculture and animal research and others. The biomarkers and cancer segment dominate the global next generation sequencing market and is expected to maintain its dominance over the forecast period. Growth in this segment is attributed to the growing number of new cancer cases across the globe, favourable reimbursement scenario for NGS-based tests in the US and increasing focus of key market players on developing NGS-based products & services for cancer and NIPT.
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NGS Market by End User
Academic & government research institutes, pharmaceutical companies, biotechnology companies and hospitals & clinics.
Academic institutes & research centres segment is expected to account for the largest share of the next-generation sequencing market in 2018
NGS Market Key Players
The key players in the NGS market include Illumina, Inc, Thermo Fisher Scientific Inc, Pacific Biosciences of California, Inc, Qiagen N.V, F. Hoffmann-La Roche Ltd, Beijing Genomics Institute, PerkinElmer, Inc, Agilent Technologies, Inc, Eurofins Genomics, Oxford Nanopore Technologies and Macrogen Corp.
NGS Market by Geography
By geography NGS market is studied across the countries of key regions such as, North America, Europe, Asia Pacific and Rest of the World.
North America is estimated to command the largest share in the global NGS market in 2018, followed by Europe and Asia-Pacific.
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