North America to Lead Next generation Sequencing Market During Forecast Period
Technological advancements
in surge in applications of NGS to drive the growth of global next-generation
sequencing market
According to
TechSci Research report, “Global Next-generation
Sequencing Market By Product, By Technology, By End User, By Application,
By Region, Competition, Forecast & Opportunities, 2025”, the global next-generation
sequencing market was valued over USD7 billion until 2019 and is projected to
record a robust CAGR during the forecast years. Millions and billions of DNA
strands can be sequenced using next-generation sequencing through massive
parallelization. Additionally, the NGS is used to execute numerous applications
including oncology studies, biomarker discoveries, agricultural & animal
researches, personalized medicines, among others, which is aiding the market
growth across the globe. Furthermore, increase in partnerships & collaborations
are anticipated to supplement the growth of global next-generation sequencing
market through 2025.
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Global next-generation
sequencing market can be segmented based on product, technology, end user, application,
company and region. Considering the end-user industry, the market is fragmented
into academic & clinical research centers, pharmaceutical &
biotechnology companies, hospitals & clinics, and others. The academic
& clinical research centers segment dominated the market until 2019 and is
witnessed to register high growth during the next five years. This growth can
be attributed to growing number of collaborations between NGS market players
and academic & research institutions, development of cost-effective NGS
products and services for researchers and favorable funding scenario for
genomics researches.
Illumina, Inc., Thermo Fisher
Scientific, Inc, BGI Group, Agilent Technologies, Inc., Qiagen N.V., Hoffmann-La
Roche AG, 10x Genomics, Oxford Nanopore Technologies, Takara Bio, among others are
the leading players operating in global next-generation sequencing market.
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“North
America is forecast to dominate the global next-generation sequencing market in
the next five years on the account of increasing applications of NGS in
diagnostics and genomics research. Moreover, availability of research funding
coupled with development of NGS data analysis solutions are further boosting
the regional market growth of next-generation sequencing services.”, said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Global Next-generation Sequencing Market By Product,
By Technology, By End User, By Application, By Region, Competition, Forecast
& Opportunities, 2025” has evaluated
the future growth potential of global next-generation sequencing market and
provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in global next-generation sequencing market.
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