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3. Illumina (US) and Thermo Fisher Scientific (US) are leading Players in the Next-generation Sequencing (NGS) Market

The next-generation sequencing (NGS) market is projected to reach USD 24.4 billion by 2025 from USD 7.8 billion in 2019, at a CAGR of 20.9%. The growth of this market is largely driven by advancements in and the declining costs of NGS platforms and the improving regulatory and reimbursement scenario for NGS-based diagnostic tests.

Some prominent players in the NGS market are Illumina, Inc. (US), Thermo Fisher Scientific, Inc. (US), BGI Group (China), PerkinElmer Inc. (US), Macrogen (South Korea), Hamilton Company (US), Lucigen (US), Intrexon Bioinformatics GmbH (Germany), Partek Incorporated (US), DNASTAR, Inc. (US), Oxford Nanopore Technologies (UK), Agilent Technologies, Inc. (US), and QIAGEN (Netherlands). An analysis of the developments in the NGS market from 2016–2019 showed that product launches, expansions, agreements, partnerships, collaborations, and acquisitions were the most widely adopted growth strategies by players in the market. Players adopted these strategies in order to strengthen their market positions.

To know about the assumptions considered for the study download the pdf brochure

Illumina (US) is the leading player in the NGS market, owing to its robust product and service offerings. The company’s NGS platforms run on SBS technology. Illumina’s product segment includes a wide range of sequencing, genotyping, gene expression, and molecular diagnostics platforms, consumables, and services. Over the last three years, Illumina has launched several products in the market. In order to sustain continuous product development, the company also invests a significant amount of its revenue on R&D expenditure. Illumina also focuses on strategic agreements with leading players in the market to co-develop advanced technologies and strengthen its research & commercialization capabilities. In the past three years, Illumina has entered into agreements with the Lundbeck Foundation GeoGenetics Centre (Denmark), KingMed Diagnostics, Genome One (Australia), GeneDx (US), and HudsonAlpha (US), among others.

Thermo Fisher Scientific (US) holds the second-largest share of the NGS market. It offers sequencers that run on the Ion semiconductor technology. The company also offers reagents & consumables, software, and services for NGS research. Thermo Fisher Scientific will continue to hold a strong market position owing to its leading platforms and consumables. The firm also has a significant geographical presence, thus fortifying its presence in the global NGS market.

Related Reports:

Next-generation Sequencing (NGS) Market by Product (NOVASEQ, NEXTSEQ, SEQUEL, NANOPORE), Consumables, Bioinformatics, Services (EXOME, RNA, DENOVO), Technology (ION, SMRT), Application (Diagnostics, Cancer), End User, Region - Global Forecast to 2025

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