The Next Generation Sequencing (NGS) Market accounted to USD 5.0 billion in 2016 growing at a CAGR of 19.1% during the forecast period of 2017 to 2024.
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Global Next Generation Sequencing (NGS) Market,By Product (Instruments (Hiseq series, Miseq series, ION Torrent, SOLiD, Pacbio Rs II and Sequel system), Consumables (Sample preparation consumables, Other), Services (Sequencing services, Data management services), by Application (Diagnostics, Drug Discovery , Biomarker Discovery , Precision Medicine , Agriculture & Animal Research), by End-user (Hospitals & Clinics, Research Centers and Academic & Government Institutes, and Pharmaceutical & Biotechnology Companies), by Geography (North America, Europe, Asia-Pacific, Europe, South America, Middle East and Africa) – Industry Trends and Forecast to 2024
Next generation sequencing (NGS) is a high-throughput methodology that enables rapid sequencing of thousands or millions of sequences in a single process.
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Major Market Drivers And Restraints:
- Increasing incorporation of NGS into wide range of applications
- Cheaper and quicker process as compared to traditional methods of sequencing
- Technological advancements in sequencing platforms
- Dearth of skilled professionals
- Standardization concerns over NGS based diagnostics
By product, the market for next generation sequencing (NGS) market is segmented into instruments, consumables, and services. The instruments segment is further sub-segmented into Hiseq series, Miseq series, ION Torrent, SOLiD, Pacbio Rs II and Sequel system.
The consumables segment is further sub-segmented into sample preparation consumables, and other.
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By application, the market for next generation sequencing (NGS) market is segmented into diagnostics, drug discovery, biomarker discovery, precision medicine, and agriculture & animal research.
On the basis of end-user, the next generation sequencing (NGS) market is segmented into hospitals & clinics, research centers and academic & government institutes, and pharmaceutical & biotechnology companies.
Based on geography, the market is segmented into five geographical regions:
- North America
- South America
- Middle East and Africa(MEA)
Global Next Generation Sequencing (NGS) Market is highly fragmented and is based on new product launches and clinical results of products. Hence the major players have used various strategies such as new product launches, clinical trials, market initiatives, high expense on research and development, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market.
Some Of The Major Players Operating In Next generation sequencing (NGS)Are:
- ODT QIAGEN N. V
- BGI, Oxford Nanopore Technologies, Ltd
- PerkinElmer, Inc
- GATC Biotech AG
- Agilent Technologies, Inc
- Roche Holding AG, Macrogen, Inc
- Bio-Rad Laboratories, Inc
- DNASTAR, Inc
- Biomatters Ltd., Partek Inc
- New England Biolabs, Inc. and Myriad Genetics, Inc.,
- Eurofins Scientific,
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Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models.
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