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Global next-generation sequencing market to hit USD 12.45 billion in 5 years

Global next-generation sequencing market to hit USD 12.45 billion in 5 years

The global next-generation sequencing market is estimated to register a CAGR of 20.5% from 2017 to 2022, next-generation sequencing market to reach USD 12.45 billion by 2022. 

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The NGS market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. North America is expected to command the largest share of the market in 2017, followed by Europe.

The market in North America is primarily driven by the technological advancements, availability of commercial solutions for NGS data analysis, and the strong presence of key players in this region.

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However, Asia-Pacific is expected to register the highest growth rate during the forecast period from 2017 to 2022, due to the improving healthcare infrastructure and favorable government initiatives in this region. 

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Factors such as technological advancements in NGS platforms, increasing applications of NGS, growing partnerships and collaborations, and increasing adoption of NGS among research laboratories and academic institutes are driving the growth of this market. On the other hand, accuracy and standardization concerns in diagnostic testing and the lack of skilled technical personnel are some of the key factors limiting the growth of the market.

On the basis of product and service, the NGS market is categorized into pre-sequencing products and services, NGS platforms, consumables, services for platforms, sequencing services, and bioinformatics.

On the basis of technology, the global NGS market is segmented into sequencing by synthesis (SBS), ion semiconductor sequencing, single-molecule real-time (SMRT) sequencing, and nanopore sequencing. 

Based on applications, the market is categorized into six segments, namely, diagnostics, drug discovery, biomarker discovery, precision medicine, agriculture & animal research, and other application.  

Stakeholders

  • NGS Equipment Manufacturers, Vendors, and Distributors
  • NGS Sequencing Services Companies
  • NGS Bioinformatics/Data Analysis Companies
  • Research Institutes and Government Organizations
  • Venture Capitalists and Other Government Funding Organizations
  • Research and Consulting Firms
  • Healthcare Institutions (Hospitals and Medical Schools)
  • Pharmaceutical and Biotechnology Companies
  • Contract Manufacturing Organizations (CMOs)
  • Contract Research Organizations (CROs)

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Some of the other major players in this market are Illumina, Inc. (U.S.), Thermo Fisher Scientific Inc.

(U.S.), and Pacific Biosciences of California, Inc. (U.S.), hold the leading position in the global NGS market.

In the past three years, these companies adopted product launches & product enhancements, agreements, collaborations, and partnerships as their key business strategies to ensure market dominance. QIAGEN N. V. (Germany), BGI (China), Oxford Nanopore Technologies, Ltd.

(U.K.), PerkinElmer, Inc. (U.S.), GATC Biotech AG (Germany), Agilent Technologies, Inc. (U.S.), Roche Holding AG (Switzerland), Macrogen, Inc.

(South Korea), and Eurofins Scientific (Luxembourg)

Key Point from Table of Content 

7 Next-Generation Sequencing Market, By Technology
7.1 Introduction
7.2 Sequencing By Synthesis
7.3 ION Semiconductor Sequencing
7.4 Single-Molecule Real-Time Sequencing
7.5 Nanopore Sequencing 

8 Next-Generation Sequencing Market, By Application
8.1 Introduction
8.2 Diagnostics
8.3 Drug Discovery
8.4 Biomarker Discovery
8.5 Precision Medicine
8.6 Agriculture & Animal Research
8.7 Other Applications 

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