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According to The Business Research Company’s research given in the next generation sequencing market report, North America had the largest next generation sequencing market share in the global market, accounting for 34.7% of the total in 2019. It was followed by the Asia Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the next generation sequencing market will be Eastern Europe and Middle East, where growth will be at rates of 21.2% and 21.0% respectively.
Next-generation sequencing (NGS) is an advanced sequencing technology that allows DNA and RNA to be sequenced much faster and more cost effectively than traditionally used sequencing methods such as Sanger sequencing. NGS is also known as high-throughput sequencing. It is used for various applications such as DNA and RNA sequencing, whole genome, transcriptome and short gene target sequencing, methylation sequencing and for sequencing genes of various animal and plant species. NGS technology is leveraged for sequencing DNA which gives a genetic profile of an organism, and sequencing RNA which reflects sequences that are actively expressed in the cell. The technology is also used for sequencing genomic information, which is useful for identifying inherited disorders, tracking factors that drive cancer progression, and tracking disease outbreaks. Transcriptome sequencing through NGS technologies is used to monitor the response of a gene to a treatment with a compound/ drug of interest under clinical conditions. Short gene target sequencing using NGS technology allows the DNA to be broken into short fragments and then pieced together, for lower costs. NGS technology is also increasingly used for methylation sequencing which can be used to trace various diseases such as cancer.
The Business Research Company’s report titled Next Generation Sequencing Global Market Report 2020-30: COVID-19 Growth and Change covers major next generation sequencing companies, next generation sequencing market share by company, next generation sequencing manufacturers, next generation sequencing infrastructure market size, and next generation sequencing market forecasts. The report also covers the global next generation sequencing market and its segments.
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The global NGS market reached a value of nearly $6.67 billion in 2019, having increased at a compound annual growth rate (CAGR) of 11.0% since 2015. The next generation sequencing market growth from $6.67 billion in 2019 to $12.61 billion in 2023 is to be at a rate of 17.2%. The growth is mainly due to the growing number of chronic diseases and government initiatives. The market is expected to then grow to $17.76 billion in 2025 at a CAGR of 17.2% and reach $40.31 billion in 2030 with a CAGR of 17.8%.
With the coronavirus pandemic lasting through 2020, COVID-19 is expected to be a major driver of the market going forward, with an increasing demand for next generation sequencing in diagnostics for the disease. There has been an increase in the adoption of next generation sequencing technology in the diagnostics of infections owing to its high efficiency and accuracy. In June 2020, FDA issued an emergency use authorization to Ilumina Inc. for Illumina COVIDSeq Test, the first COVID-19 diagnostic test utilizing next generation sequence technology. The advantage of using a next generation sequencing test is that it can generate information about the genomic sequence of the virus present in a sample along with detecting the presence of the virus in the sample. This genomic information can be used for research purposes too, thus supporting the growth of the market, especially when cures and/or treatments for the virus are at being sought as an urgent priority this year.
Next Generation Sequencing Global Market Report 2020-30: COVID-19 Growth and Change is one of a series of new reports from The Business Research Company that provide market overviews, analyze and forecast market size and growth for the whole market, segments and geographies, trends, drivers, restraints, leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies. The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Here Is A List Of Similar Reports By The Business Research Company:
Genomics Market Global Report 2020
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