The research report titled “Global Next Generation Sequencing (NGS) Market Outlook: 2015-2020” analyzes the major drivers, restraints, opportunities, and challenges that have a long and short-term impact on its growth across the globe. This latest publication from Meticulous Research® states that the global next generation sequencing market would reach $8,599.5 million by 2020 at a CAGR of 21.3% over the period of 2015 to 2020.
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Over the years, the next generation sequencing field has witnessed significant growth which has attracted many companies, researchers, investors, and others. The growth of this market is mainly driven by continuous innovation and developments in the market, promotion of NGS by research laboratories and academics, reduced cost of sequencing with the use of NGS, and rising support from various government bodies to promote use of NGS in research and development. As a result, various companies in the pharmaceutical industry have recognized the potential benefits of next generation sequencing as a research and development tool. This is evident from the recent major events such as agreement between Roche and Foundation Medicine to acquire a majority interest in Foundation Medicine for approximately $780 million, and various other agreements and investments from the companies like Genentech, Pfizer, and 10x Genomics. Moreover, an increasing rate of cancer diseases, drastically reduced mass scale genetic testing costs, growing economy, and increasing genetic research and development activities in countries like India, Singapore, and China provide significant opportunities for the players to invest in this market. However, decrease in capital expenditure from academic institutions, high reliability on grants and funds from government, accuracy and standardization concern in diagnostic testing, and legal and ethical issues related to next generation sequencing hinders the growth of this market.
The global NGS market is segmented by products and services, NGS methods, technology, sequencing platforms, applications, end users, and geography. The NGS market by methods is further categorized into genomics, transcriptomics, and epigenomics. The application market is mainly divided into diagnostics, drug discovery, genetic screening, personalized medicine, agriculture and animal research, and others. While by products and services the market is further divided into NGS reagents and accessories, sequencing platforms, data analysis software and tools, sequencing chips, NGS services, and others. Further, various sequencing platforms offered by Illumina, Thermo Fisher Scientific, 454 Roche, and Pacific Biosciences are analyzed under platforms category. The end users market is divided into academic and research institutes, hospitals and healthcare institutions, Biopharma companies, and others.
North America holds the major share in the global NGS market and is expected to dominate this market during the forecast period, with the U.S. contributing a major share, followed by Europe, and Asia-Pacific. On the other hand, the Asian market, especially India and China, is expected to witness a boost in demand for NGS products and services and are poised to register maximum growth over the next five-six years, as a result of their economic development, increasing genetic research and development activities, drastically reduced mass scale genetic testing costs, and the growing focus of the global NGS players in this region.
The key players in the global NGS market are Illumina, Inc., Pacific Biosciences, Roche Holding AG, Thermo Fisher Scientific, Knome, Inc., Perkin Elmer, Inc., Qiagen N.V., Beijing Genomics Institute, Agilent Technologies, Inc., Partek Incorporated, Macrogen, Inc., GenoLogics Life Sciences Software, Inc., and Biomatters, Ltd.
The market research report titled “Global Next Generation Sequencing (NGS) Market Outlook: 2015-2020” contains meticulous & comprehensive analysis of next generation sequencing market in terms of NGS products and services, methods, platforms, technology, application, and geography.
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