Next Generation Sequencing Market Overview:
Next Generation Sequencing (NGS) is used to execute different applications such as biomarker discovery, oncology education, personalized drug, agricultural & animal study, and others. NGS has modernized nucleotide analysis and has generally replaced conventional means of genomics, particularly microarray efficiently. The global market has raised significantly due to surge in NGS applications and the rise in technological improvements. In addition, the increase in the number of genome mapping programs in the world and the increase in R&D investment drives the next generation sequencing market growth. The global Next Generation Sequencing (NGS) market is anticipated to reach USD 16.6 billion by 2025.
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The influence of the supporting factors is expected to defeat the effect of restraints. Furthermore, the utilization of cloud computing in NGS for data control and untapped emerging economies are supposed to provide new market events to next-generation sequencing manufacturers in the coming future.
Circumstances such as developments in NGS platforms, falling capital cost associated with the decreasing amount of sequencing, and increasing regulatory & reimbursement situation for NGS-based characteristic tests are expected to boost the next-generation sequencing market.
Increasing automation in the pre-sequencing protocols is expected to drive progress in the market in the future years. Utilization of novel programs for the development of personalized medication by medical analysis at a genetic level is a vital factor which is expected to enhance demand for NGS over the forecast period.
The important services offered by the next generation sequencing are classified as sequencing services and data administration. Consumables product occupied a dominant share in the global and is expected to maintain this trend throughout the forecast period. This is connected to the fact that they are generally used in the sample preparation means and are needed to perform other pre-requisite steps of NGS.
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Next Generation Sequencing Market Regional Analysis:
North America is anticipated to account for the substantial share of the global next-generation sequencing market in the coming years, followed by Europe. The general share of North America is mainly associated with the growing application of NGS in diagnostics and genomics analysis, availability of research funding, and growth of NGS data analysis solutions.
Key Players in this Next Generation Sequencing Market are: PerkinElmer (US), Pacific Biosciences of California, Inc. (US), BGI (China), QIAGEN N. V. (Germany), Agilent Technologies (US), Oxford Nanopore Technologies, Ltd. (UK), Macrogen Inc. (South Korea), and Eurofins Scientific (Luxembourg).
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