LONDON, Nov. 13, 2014 /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. According to experts, in the coming years, a human genome can be sequenced at a cost of $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 valued to be XX million in 2013 and poised to grow at a CAGR of XX% to reach $4,892 million by 2020. The NGS market is classified based on products, technology, end users, application and geography. The global NGS products are further divided into instruments and consumables, services and workflow products. The NGS technology is segmented into targeted resequencing, whole exome sequencing, RNA sequencing, whole genome sequencing, ChIP sequencing, de novo sequencing and methyl sequencing. 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.
The application of NGS market is classified into clinical and non-clinical applications. By application type, the market is broken down into oncology, genetic screening, infectious diseases, drug and biomarker discovery, molecular epidemiology, agriculture and animal research and other applications. Further, the NGS market is separated by geographical regions into North America, Europe, Asia-pacific and Rest of the World
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