Pune, Feb. 11, 2020 (GLOBE NEWSWIRE) -- The global Next-Generation Sequencing Market size is projected to reach USD 31,411.3 million by 2026, thereby exhibiting a CAGR of 22.2% during the forecast period. However, it stood at USD 6,335.2 million in 2018. Fortune Business Insights™ published this information in a report, titled, “Next-Generation Sequencing Market Size, Share and Industry Analysis by Type (Products, Instruments & Software, Consumables, Services), By Application (Diagnostics, Research), By End User (Research Institutes, Healthcare Facilities & Diagnostic Centres, Pharmaceutical & Biotechnological Companies, Contract Research Organization) & Regional Forecast, 2019 – 2026.” The report further mentions that the market would gain momentum from the implementation of genomics projects in countries, such as Qatar and the U.K.
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This Report Answers the Following Questions:
- What are the NGS market trends, growth drivers, and hindrances?
- What are the opportunities and challenges that the market is expected to face?
- Which strategies are being adopted by key players to increase sales?
- How many mergers and acquisitions took place in the industry?
- Which region would lead in terms of revenue in the coming years?
Drivers-
Increasing Prevalence of Chronic Diseases to Accelerate Growth
Increasing demand for accurate, cost-effective, and quick DNA sequencing data interpretation is affecting the market positively. NGS facilitates the diagnosis of diseases and research by enabling the sequencing of massive amount of DNA in a single run. Additionally, active government support and the introduction to next-generation sequencing-based diagnostics are set to boost the NGS market growth.
Moreover, the application of NGS is upsurging rapidly across the world for diagnosing diseases owing to its low cost. The emergence of numerous testing services and test kits for genetic testing, cancer diagnosis, and non-invasive prenatal testing would also contribute to the growth of the market. In addition to that, improved reimbursement coverage for NGS-based diagnostic tests, increasing research activities, and rising incidence of chronic diseases are anticipated to augment the growth of the market in the coming years.
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Regional Analysis-
Active Government Support to Favor Growth in North America
In terms of geography, the market is segregated into the Middle East and Africa, Europe, Asia Pacific, Latin America, and North America. Out of these, North America generated USD 2,331.4 million in 2018 in terms of next-generation sequencing market revenue. This growth is attributable to the increasing prevalence of cancer, the direct presence of reputed manufacturers, and active government support.
Europe, on the other hand, is estimated to expand considerably backed by increasing strategic partnerships amongst key players, rising emphasis on precision medicines, and growing investments in research. Asia Pacific would grow remarkably on account of the ongoing improvements in healthcare infrastructure, rising number of awareness programs regarding reproductive health, and increasing incidence of genetic disorders.
Competitive Landscape-
Key Players Focus on Strategic Collaborations to Strengthen Position
Thermo Fisher Scientific Inc., F. Hoffmann-La Roche Ltd., and Illumina, Inc. are projected to lead in the forthcoming period owing to their rising number of strategic partnerships, robust geographical presence, and diversified product portfolio. Other companies are also striving persistently to gain the maximum NGS market share by launching new products. Below are a few of the key industry developments:
- June 2019: Saphetor SA, a precision medicine company headquartered in Switzerland, collaborated with Swift Biosciences Inc., a developer of molecular biology reagents for research and diagnostic applications based in Michigan, to provide a set of NGS technologies and products for clinical, translational, and genomics research applications.
- January 2019: PierianDx, Inc., a provider of a comprehensive combination of technology and services based in Missouri, declared its multi-year, non-exclusive, and strategic partnership with Illumina, Inc., a developer of integrated systems headquartered in California. The main aim of this collaboration is to offer a variant interpretation and reporting solution based on the former’s clinical genomics knowledgebase and clinical genomics workspace platform for specific Illumina oncology products.
Fortune Business Insights™ lists out some of the most renowned companies operating in the next-generation sequencing market. They are as follows:
- Hoffmann-La Roche Ltd.
- Illumina, Inc.
- PierianDx
- Thermo Fisher Scientific Inc.
- BGI
- Agilent Technologies, Inc.
- Macrogen, Inc.
- Eurofins Scientific
- PerkinElmer Inc.
- QIAGEN
- Other prominent players
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Overview of Next-Generation Sequencing Diagnostics Test
- Regulatory Scenario - For Key Countries
- New Product Launch
- Startups with their Funding Overview
- Key industry Developments - Mergers, Acquisitions and Partnerships
- Global NGS Industry Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
- Products
- Instruments & Software
- Consumables
- Services
- Products
- Market Analysis, Insights and Forecast – By Application
- Diagnostics
- Research
- Others
- Market Analysis, Insights and Forecast – By End User
- Research Institutes
- Healthcare Facilities & Diagnostic Centers
- Pharmaceutical & Biotechnological Companies
- Contract Research Organization (CROs)
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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