Illumina Inc Is One Of The Largest Players In The Next Generation Sequencing Market, According To The Business Research Company’s Next Generation Sequencing Global Market Report 2020-30: COVID 19 Growth And Change
(Companies Covered: Illumina Inc., Thermo Fisher Scientific Inc, BGI Group, Agilent Technologies Inc., Qiagen N.V., Hoffmann-La Roche AG, Eurofins Scientific, Oxford Nanopore Technologies, Pacific Biosciences, 10x Genomics)
The global next generation sequencing market is expected to decline from $7.13 billion in 2019 to $7.01 billion in 2020 at a compound annual growth rate of -1.78%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities. The market is then expected to recover and reach $13.02 billion in 2023 at a compound annual growth rate of 22.95%.
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The next generation sequencing market consists of sales of devices and equipment used in next generation sequencing and related services by entities (organizations, sole traders and partnerships) that manufacture next generation sequencing equipment. Next-generation sequencing (NGS) is the catch-all concept used to describe a variety of different advanced sequencing technologies.
Global Next Generation Sequencing Market Segmentation –
1) By Product: NextSeq Systems, MiniSeq Systems, NovaSeq Systems, iSeq 100 Systems, Ion PGM Systems, Ion Proton Systems, Ion GeneStudio S5 Systems, PacBio RS II Systems, Sequel Systems, Others.
2) By Technology: Sequencing by Synthesis, Ion Semiconductor Sequencing, Single-molecule Real-time Sequencing, Nanopore Sequencing, Other Sequencing Technologies.
3) By Application: Diagnostics, Drug Discovery, Other Applications.
Global Next Generation Sequencing Market Driver –
The high cost associated with next generation sequencing technologies is a key factor hampering the growth of the next generation sequencing market. The next generation sequencing market is facing challenges as many people find it difficult to afford the test due to the high cost. Consumables used for sequencing are the costliest portion of testing (68–72% of total cost) as machinery prices are higher in instances of rare disease.
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Few Points From The Global Next Generation Sequencing Market TOC
1. Executive Summary
2. Next Generation Sequencing Market Characteristics
3. Next Generation Sequencing Market Size And Growth
3.1. Global Next Generation Sequencing Historic Market, 2015 – 2019, $ Billion
3.1.1. Drivers Of The Market
3.1.2. Restraints On The Market
3.2. Global Next Generation Sequencing Forecast Market, 2019 – 2023F, 2025F, 2030F, $ Billion
3.2.1. Drivers Of The Market
3.2.2. Restraints On the Market
4. Next Generation Sequencing Market Segmentation
4.1. Global Next Generation Sequencing Market, Segmentation By Product, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5. Next Generation Sequencing Market Regional And Country Analysis
5.1. Global Next Generation Sequencing Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5.2. Global Next Generation Sequencing Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
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