Next-Generation Sequencing (NGS) Market

Next Generation Sequencing (NGS) Market worth $19.5 billion by 2025

The report "Next-Generation Sequencing (NGS) Market by Product (NovaSeq, NextSeq, Sequel, Nanopore), Consumables, Bioinformatics, Services (Exome, RNA, DeNovo), Technology (Ion, SMRT), Application (Diagnostics, Cancer), EndUser (Academia, Research) - Forecasts to 2025", is projected to reach USD 19.5 billion by 2025 from USD 5.70 billion in 2018; growing at a CAGR of 19.2% during the forecast period.

Browse 109 market data Tables and 44 Figures spread through 228 Pages and in-depth TOC on "Next-Generation Sequencing (NGS) Market by Product (NovaSeq, NextSeq, Sequel, Nanopore), Consumables, Bioinformatics, Services (Exome, RNA, DeNovo), Technology (Ion, SMRT), Application (Diagnostics, Cancer), EndUser (Academia, Research) - Forecasts to 2025"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/next-generation-sequencing-ngs-technologies-market-546.html

Factors such as advancements in NGS platforms, declining NGS capital cost coupled with decreasing cost of sequencing, improving regulatory & reimbursement scenario for NGS-based diagnostic tests, increasing number of NGS-based research & clinical applications, growing research on cancer, rising awareness of NGS services and initiatives by governments and private bodies to support the development and adoption of NGS technologies globally are driving the growth of this market.

By products & services, the NGS consumables segment is estimated to account the largest share of the market in 2018

On the basis of products & services, the next-generation sequencing market is classified into pre-sequencing products & services (DNA fragmentation, end repair, A-tailing, and size selection; Library preparation & target enrichment; Quality control), NGS platforms, consumables, services for platforms, sequencing services, and bioinformatics (NGS data analysis, storage, and management). The NGS platforms segment is segmented into Illumina (Hiseq Series, Hiseq X Ten &HiSeq X Five, Miseq Series, Nextseq 500, MiniSeq and NovaSeq), Thermo Fisher Scientific (Ion PGM, Ion Proton, and Ion S5 & S5 XL), Pacific Biosciences (PacBio RS II and Sequel system), Oxford Nanopore Technologies, and Other Next-generation Sequencing Platforms. The NGS consumables segment is estimated to account for the largest share of the next-generation sequencing market in 2018. Factors such as advancements in sequencing technologies, growing sequencing procedures, and launch of easy to use consumables, and growing adoption or installations of NGS platforms are driving the growth of this segment.

By application, the diagnostics segment is estimated to be the fastest growing segment in the forecast period

On the basis of appliacation, the next-generation sequencing market is segmented into diagnostics, drug discovery, agricultural & animal research, and other applications. The diagnostics segment is estimated to grow at the fastest CAGR – 20.5% during the forecast period owing to factors such as growing number of new cancer cases across the globe, favorable 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. 

North America is estimated to dominate the market in 2018

Geographically, the next-generation sequencing market is segmented into North America (US, Canada), Europe (Germany, France, UK, Spain, Italy, Netherlands and Rest of Europe), Asia Pacific (China, Japan, India, and Rest of Asia Pacific), and the Rest of the World (RoW). North America is estimated to account for the largest share of the market in 2018, followed by Europe. The large share of North America can primarily be attributed to the increasing application of NGS in diagnostics and genomics research, development of NGS data analysis solutions and availability of research funding, in the region.

The NGS market in the Asia Pacific is estimated to register the highest growth rate of 21.5% during the forecast period, primarily due to the increasing financial support from public as well as private agencies, increasing number of NGS-based research projects, increasing awareness about precision medicine, and high incidence of chronic diseases.

The key players in the next-generation sequencing market include Illumina, Inc. (US), Thermo Fisher Scientific, Inc. (US), Pacific Biosciences of California, Inc. (US), BGI (China), PerkinElmer (US), Agilent Technologies (US), QIAGEN N. V. (Germany), Macrogen Inc. (South Korea), Oxford Nanopore Technologies, Ltd. (UK), and Eurofins Scientific (Luxembourg) among others.

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Report Code
BT 2697
PR Published ON
7/16/2019
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