The next-generation sequencing (NGS) market is projected to reach USD 24.4 billion by 2025 from USD 7.8 billion in 2019, at a CAGR of 20.9%
NEW YORK, Dec. 9, 2019 /PRNewswire/ --
The global NGS market is projected to grow at a CAGR of 20.9% during the forecast period.
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The next-generation sequencing (NGS) market is projected to reach USD 24.4 billion by 2025 from USD 7.8 billion in 2019, at a CAGR of 20.9%. The growth of this market is largely driven by advancements in and the declining costs of NGS platforms and the improving regulatory and reimbursement scenario for NGS-based diagnostic tests. The NGS market is segmented based on application, technology, product & service, end user, and region.
The SBS segment accounted for the largest share of the NGS market in 2018.
On the basis of technology, the NGS market is segmented into sequencing by synthesis (SBS), ion semiconductor sequencing, single-molecule real-time (SMRT) sequencing, nanopore sequencing, and other sequencing technologies.In 2018, the SBS segment accounted for the largest share of the NGS market.
The dominant market position of this segment is mainly due to the development of new and advanced NGS platforms and the increasing demand for Illumina's systems, as it is the major provider of SBS-based NGS platforms (including the HiSeq MiSeq series and NextSeq).
The diagnostics application segment accounted for the largest share of the NGS market in 2018.
Based on applications, the NGS market is segmented into diagnostics, drug discovery, agricultural & animal research, and other applications, which include marine research and research in biofuels, forensics, metagenomic studies, and evolutionary studies.Of all these application segments, diagnostics accounted for the largest share of the NGS market in 2018.
The large share of this segment can be attributed to the growing number of new cancer cases across the globe, favorable reimbursement scenario for NGS-based tests in the US, and increasing focus of key market players on developing NGS-based products & services for cancer and NIPT.
North America accounted for the largest share of the NGS market in 2018.
North America accounted for the largest share of the NGS market in 2018, followed by Europe. This can primarily be attributed to factors such as the increasing applications of NGS in diagnostics and genomics research, the availability of research funding, and the development of NGS data analysis solutions.
Breakdown of supply-side primary interviews:
• By Company Type: Tier 1 (30%), Tier 2 (32%), and Tier 3 (38%)
• By Designation: C-level (26%), Director-level (30%), and Others (44%)
• By Region: North America (34%), Europe (26%), APAC (23%), and RoW (17%)
Some of the prominent players in the NGS market include Illumina, Inc. (US), Thermo Fisher Scientific, Inc. (US), BGI Group (China), PerkinElmer Inc. (US), Macrogen (South Korea), Hamilton Company (US), Lucigen (US), Intrexon Bioinformatics GmbH (Germany), Partek Incorporated (US), DNASTAR, Inc. (US), DNAnexus (US), SciGenom Labs Pvt. Ltd. (India), GENEWIZ (US), Takara Bio Inc. (Japan), Eurofins Scientific (Luxembourg), 10x Genomics (US), F. Hoffmann- La Roche Ltd (Switzerland), Becton Dickinson and Company (US), Danaher (US), Lexogen GmbH (Austria), Tecan Trading AG (Switzerland), Zymo Research (US), Oxford Nanopore Technologies (UK), Agilent Technologies, Inc. (US), and QIAGEN (Netherlands).
Research Coverage
This report studies the NGS market based on product & service, technology, application, end user, and region.It studies major factors (such as drivers and restraints) affecting market growth.
The report also analyzes opportunities and challenges in the market for stakeholders and provides details of the competitive landscape for market leaders.It analyzes micromarkets with respect to their individual growth trends, prospects, and contributions to the total market.
The report forecasts the revenue of market segments with respect to four major regions and their respective major countries.
Key Benefits of Buying the Report
This report focuses on various levels of analysis—industry trends, market shares of top players, and company profiles, which together form basic views.It also analyzes the competitive landscape; emerging segments of the NGS market; and high-growth regions and their drivers, restraints, challenges, and opportunities.
The report will help both established firms as well as new entrants/smaller firms to gauge the pulse of the market and garner greater market shares.
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