LONDON, March. 2, 2017 /PRNewswire/ -- The global next generation sequencing market is anticipated to reach USD 21.4 billion by 2025, according to a new report by Grand View Research, Inc. Increasing coverage of NGS is expected to drive use of precision medicine in oncology from research based setting to clinical cancer setting. Commercial payers are also engaged in reviewing the existing and novel tests in order to establish appropriate medical necessity criteria for their clinical and medical policies.
Moreover, improved understanding of the genetic markers of virulence and resistance provided by next generation sequencing is expected to drive demand of the technology in infectious disease diagnosis.
Further Key Findings from the Report suggest:
Oncology accounted for the dominant share owing to phase-resolved and unambiguous results obtained by using single assay systems, and analysis program.
Targeted resequencing dominated the market owing to its associated benefits such as implementation of the technique such as lower turnaround time and more manageable data sets.
Academic usage of NGS accounted for the largest share with respect to market revenue by end uses and is anticipated to maintain its dominance.
Higher adoption of this technology and platforms in university projects is expected to support the estimated share.
Asia Pacific is estimated to witness the fastest growth over the forecast period owing to expected routing of a considerable portion of whole genome sequencing requirements herein.
Key players operating in the NGS market include:
Illumina Inc., Agilent Technologies, BGI, Pacific Biosciences, Qiagen, Roche, Thermo Fischer Scientific, and Oxford Nanopore Technologies Ltd.
Endeavors adopted by participants are such as acquisition of Enzymatics by Qiagen acquired solutions in order to enhance the product portfolio with respect to reagents needed in preparatory steps.
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