NEW YORK, Nov. 10, 2016 /PRNewswire/ -- A decade has gone, since the first human genome has been sequenced and sequencing technology has come a long way from the time of introduction as Next generation Sequencing (NGS) has revolutionized the way the human genomes are being sequenced now a days. The time and cost to sequence has tremendously reduced since the first human genome was sequenced, which took a decade time and around $3 billion. But now a human genome can be sequenced at a cost of just $1,000 in one to two days. In the last five years the sequencing cost has rapidly reduced and this is supposed to have a huge impact on the NGS market in the coming years.
The global Next Generation Sequencing market is expected to grow at a double digit CAGR to reach $14,722.5 million by 2022. The NGS market is classified based on products, technology, end users, application and geography. The global NGS products are further divided into instruments, services and workflow products. The NGS technology is segmented into reversible terminator sequencing, ion semiconductor sequencing, sequencing by ligation, single molecule real time sequencing (SMRT), and others.
The NGS application market is segmented in two different ways, one by sequencing process and the other by field of application. The NGS application market by type of sequencing process has been categorized into genomics, epigenomics, transriptomics, and others. By field of application, the market has been divided into diagnostics, drug discovery and development, biomarker discovery, agriculture and animal research, and others. The NGS market by end users is divided into academic research laboratories, hospitals and clinics, biotech and pharmaceuticals, and other end users, which include nonprofit organizations and commercial labs.
Further, the NGS market is separated by geographical regions into North America, Europe, Asia-pacific and Rest of the World.
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