HYDERABAD, India, September 30, 2016 /PRNewswire/ --
Mordor Intelligence announces the publication of their research report on the next generation sequencing market. The report titled, "Global Next Generation Sequencing Market - Industry Analysis and Market Forecast (2016 - 2021)" explains the current landscape and outlook of the said market.
The global next generation sequencing market was valued at USD 4.01 billion in 2015 and is projected to reach USD 12 billion by 2021, at a compound annual growth rate (CAGR) of 20% during the forecast period from 2016 to 2021.
Next generation sequencing, also known as high-throughput sequencing, is a DNA sequencing technology which has revolutionized genomic research. Due to its ability to sequence DNA, NGS technologies have drawn attention in scientific research. This technology provides its services in medical fields such as drug discovery, genetic screening, diagnostics, personalized medicine, agricultural and animal research, infectious diseases and others.
The technology is emerging at a rapid rate due to its increasing application in clinical diagnosis. Speed, cost and accuracy of the technology, efficient replacement of traditional technologies (microarrays), and drug discovery applications demanding NGS technology are few factors driving the growth of this market. Legal & ethical issues are likely to hamper the market growth. Interpretation of complex data and lack of skilled professionals are the other major factors restraining NGS market growth.
The global next generation sequencing market has been segmented based on technology, products and geography. Based on technology the market is segmented into whole genome sequencing, targeted re-sequencing, whole exome sequencing, RNA sequencing, Chip sequencing, De Novo sequencing, and methyl sequencing. The products segment includes instruments, reagents & consumables and services. The end users of NGS market include hospitals & healthcare institutions, academics, biotech & pharma firms and others.
Based on geography the market is segmented into North America, Europe, Asia-Pacific, South America, and Middle East & Africa. North America is currently the largest market for NGS, followed by Europe. This is due to the increased awareness about the quick return of investments and accuracy. Asia-Pacific is one of the fastest growing segments.
The major players operating in the NGS market are Illumina Inc. (U.S.), Thermo Fisher Scientific (U.S.), Hoffmann-La Roche Ltd (Switzerland), Pacific Biosciences (U.S.) Agilent Technologies (U.S.), BGI (Beijing Genomics Institute) (China), Qiagen (Netherlands), Biomatters Ltd (New Zealand), and Genomatix Software GmbH (Germany)..
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