New York, NY, May 15, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Next Generation Sequencing Market by Products and Services (Products by Technology and Sequencing Services by Type), by Application (Bioinformatics, Diagnostics, Agriculture and Animal Research, Drug Discovery, Genetic Research, and Others), and by End-User (Research Institutes, Pharmaceuticals, Biotechnology Companies, Hospitals, and Academic Institutes): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2026”. According to the report, the global next generation sequencing market was approximately USD 2,450 million in 2018 and is expected to generate around USD 9,891 million by 2026, at a CAGR of around 19.1% between 2019 and 2026.
Next generation sequencing is the process of genome sequencing that decides the exact order of nucleotides inside a genome molecule. The global next generation sequencing market is growing rapidly as the technology’s clinical applications are increasing for detection of diseases like cancer and genetic disorders and detection of the outbreak, such as ZIKA virus, tuberculosis, etc. The rapid increase in diseases is fuelling the for next generation sequencing market as this technology allows genomes scanning in lesser time, which, in turn, helps in the early detection of diseases. Various technological advancements in NGS platforms and increased adoption of this technology among research laboratories are expected to further drive the growth of the next generation sequencing market globally in the years ahead.
Browse through 54 Tables & 30 Figures spread over 110 Pages and in-depth TOC on “Global Next Generation Sequencing Market Size & Share 2018: Industry Growth, Trends, Segments Analysis Report and Forecast to 2025”.
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By products and services, the global next generation sequencing market is segmented into products by technology and sequencing services by type. Product by technology segment is further segmented into sequencing by synthesis, sequencing by ligation, ion semiconductor sequencing, and nanopore sequencing. Sequencing services by type segment is further divided into genomics (whole genome sequencing, De Novo sequencing, exome sequencing, and targeted sequencing), transcriptomics (targeted RNA sequencing, total RNA and mRNA sequencing, and small RNA and noncoding RNA sequencing), epigenomics (ChIP sequencing, methylation sequencing, and ribosome profiling), and others. Sequencing service by type dominated the market in 2018, due to the growing number of sequencing procedures, advancements in sequencing technologies, and launch of easy-to-use consumables.
The application segment includes bioinformatics, agriculture and animal research, drug discovery, genetic research, diagnostics, and others. Diagnostics are projected to hold the largest share of the market, owing to the increase in the focus for the development of next generation sequencing based diagnostic tests and the growing use of these next generation sequencing-based diagnostic tests related to detecting diseases like cancer and infectious diseases.
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By end-user, the market includes research institutes, pharmaceuticals, biotechnology companies, hospitals, and academic institutes. Research institutes are anticipated to dominate the market in the future, owing to the growing research in the academic institutes related to genetics.
By region, North America is expected to dominate the global next generation sequencing market in the future, due to the increase in the prevalence of cancer and decreasing prices of genome sequencing by the key players. In 2016, North America accounted for over 35% of the total global next generation sequencing market revenue. According to the National Cancer Institute (NCI), in 2016, approximately 1 million of cancer cases were diagnosed in the U.S. This increase in the prevalence of cancer and infectious diseases drives the growth of the next generation sequencing market in North America. Additionally, the presence of the key players in North America leads to the development of new products and a decrease in the prices of genome sequencing.
Browse the full “Next Generation Sequencing Market by Products and Services (Products by Technology and Sequencing Services by Type), by Application (Bioinformatics, Diagnostics, Agriculture and Animal Research, Drug Discovery, Genetic Research, and Others), and by End-User (Research Institutes, Pharmaceuticals, Biotechnology Companies, Hospitals, and Academic Institutes): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2026” Report at https://www.zionmarketresearch.com/report/next-generation-sequencing-market
Europe contributed approximately 31% of the total market revenue in 2018. The region is expected to show significant growth in the future, mainly due to the increase in the incidences of genetically inherited diseases, cancer, tuberculosis, etc. Developments made in bioinformatics and pre-sequencing solutions, the introduction of high capacity whole genome sequences, and growing awareness about the use of personal medicines are also expected to drive the growth of the European next generation sequencing market.
The Asia Pacific next generation sequencing market is anticipated to show the highest CAGR over the projected time period owing to the rapid increase in opportunities in developing countries like India for the key players and rapid developments related to the market witnessed in China. The rapidly rising population in China and India is leading to an increased risk of disease outbreaks, which is also expected to drive the growth of the next generation sequencing market in the Asia Pacific region.
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The Middle East and Africa and Latin America are expected to witness the least growth over the projected time period. Economic development in Brazil, UAE, Mexico, South Africa, etc. brought investments in the healthcare system of the region, which, in turn, increased the use of next generation sequencing for healthcare. The increasing awareness about personalized medicine and rising disposable income are also driving these regional markets.
Some major players in the global next generation sequencing market are F. Hoffmann-La Roche, ABM, Agilent Technologies, BD, Oxford Nanopore Technologies, LGC Limited, BGI, Eurofins Genomics, Illumina, Roche Sequencing, DNASTAR, Macrogen, Pacific Biosciences of California, QIAGEN, and Thermo Fischer Scientific.
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This report segments the global next generation sequencing market into:
Global Next Generation Sequencing Market: Products and Services Analysis
- Products by Technology
- Sequencing by Synthesis
- Sequencing by Ligation
- Ion Semiconductor Sequencing
- Nanopore Sequencing
- Sequencing Services by Type
- Genomics
- Whole Genome Sequencing
- Exome Sequencing
- De Novo Sequencing
- Targeted Sequencing
- Transcriptomics
- Total RNA and mRNA Sequencing
- Targeted RNA Sequencing
- Small RNA and Noncoding RNA Sequencing
- Epigenomics
- Methylation Sequencing
- ChIP Sequencing
- Ribosome Profiling
- Others
- Genomics
Global Next Generation Sequencing Market: Application Analysis
- Bioinformatics
- Diagnostics
- Cancer
- Neonatal Screening
- Infectious Disease
- Reproductive Health
- Genetic Testing
- Monogenic Disorders
- Others
- Agriculture and Animal Research
- Drug Discovery
- Genetic Research
- Others
Global Next Generation Sequencing Market: End-User Analysis
- Research Institutes
- Pharmaceuticals
- Biotechnology Companies
- Hospitals
- Academic Institutes
Global Next Generation Sequencing Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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