According to Stratistics MRC, the Global Next Generation Sequencing market is expected to grow at a CAGR of 18.7% during the forecast period.
Factors such as growing adoption of sequencing technologies in clinical applications and low cost DNA sequencing are likely to drive the market growth. On the other side, accuracy and standardization issues and lack of skilled labour are inhibiting the market growth. However, rise in personalize medicine and cloud computing are likely to create more opportunities for this market during the forecast period.
Next-generation sequencing enables rapid sequencing and produces millions of DNA and RNA sequences. It is otherwise called as massively parallel sequencing technology used in personalized medicines, clinical applications, animal research and other applications.
Depending upon the End Users, the Genetic Screening is a method used to provide important information on gene function as well as the molecular events that underlie a biological process or pathway or identify and select for individuals who possess a phenotype of interest in a mutagenized population. It totally depends on the accuracy of the test, the reliability of the interpretation of the results and the ability to treat the condition based on the quality. Apart from these, it can lessen the anxiety of not knowing the possibility of developing a disease and give a tremendous sense of relief.
By geography, North America is expected to surpass the other regions throughout the forecast period due to the support from various government bodies, like NHGRI (National Human Genome Research Institute, US) and fund research on the genome’s structure, function, and role in health and disease.
Some of the key players in Next Generation Sequencing market include Thermo Fisher Scientific Inc., F. Hoffmann-La Roche AG, Illumina, Inc., Beijing Genomics Institute, Qiagen N.V., Pacific Biosciences of California, Inc., Perkinelmer, Inc., Agilent Technologies, Inc., Gatc Biotech AG, Oxford Nanopore Technologies, Ltd., Macrogen, Inc., Eurofins Scientific, Myriad Genetics, Bio-Rad Laboratories, Inc., Pieriandx, Roche Holding Ag, Genomatix Gmbh, DNASTAR Inc., Macrogen Inc. and Helicos BioSciences.
Type of Sequencing covered:
Whole Genome Sequencing
Whole Exome Sequencing
De Novo Sequencing
Reagents & Consumables
HLA Typing/Immune System Monitoring
Metagenomics, Epidemiology & Drug Development
Agrigenomics & Forensics
End Users Covered:
Biotech and Pharmaceutical Firms
Next Generation Sequencing Market By Application
Drug Discovery/Personalized Medicine
Agriculture and Animal Research
Other End Users
o Rest of Europe
o New Zealand
o South Korea
o Rest of Asia Pacific
o Rest of South America
Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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