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Home » News » Next Generation Sequencing (NGS) Services Market Worth 2,921.4 Million USD by 2023

Next Generation Sequencing (NGS) Services Market Worth 2,921.4 Million USD by 2023

Published On: March 15, 2018

Meticulous Research® –the leading global market research company published a research report titled “Next Generation Sequencing Services (NGS) Market – Global Opportunity Analysis and Industry Forecast (2018-2023)”

According to this latest publication from Meticulous Research®, the global Next Generation Sequencing Services market is expected to grow at a CAGR of 20.1% from 2018 to 2023 to reach USD 2,921.4 million by 2023, driven by the plummeting cost of sequencing, growing need of skilled professionals for efficient NGS sample preparation and analysis, technological advancements in NGS, increase in genome mapping programs, and high cost of sequencing infrastructure. Moreover, increasing applications in cancer and agrigenomics research and capability enhancement in analysis of complex sequence data further provides significant opportunities for the various stakeholders in the global NGS services market. However, accuracy & standardization concerns in diagnostic testing and ethical issues related to NIPT may obstruct the growth of NGS services market to some extent.

The global NGS services market is mainly segmented by service type (targeted sequencing, RNA sequencing, exome sequencing, de novo sequencing, ChIP-sequencing, whole genome sequencing, methyl sequencing, and other services), technology (sequencing by synthesis, ion semiconductor sequencing, single molecule real time sequencing, nanopore sequencing, and true single molecule sequencing), application (diagnostics, drug discovery, biomarker discovery, agriculture & animal research and other applications), end user (academic & research institutes, pharmaceuticals & biotechnology industry, hospitals & clinics and other end users), and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa).

Browse in-depth Report on https://www.meticulousresearch.com/product/next-generation-sequencing-ngs-services-market/

North America held the largest share in the global NGS services market in 2017, followed by Europe and Asia-Pacific. High burden of chronic and infectious diseases, increasing R&D expenditure, better availability of NGS technology and services, and various supporting government initiatives are the major factors fueling the growth of NGS services market in North America. However, Asia-Pacific region possesses lucrative growth potential for the NGS services market during the forecast period. This is mainly attributed to the increasing population, rising rate of diseases, growing outsourced research activities in this region, improving infrastructure, and various government initiatives for the genomic research to understand the complex biological process and genetic mutations present in life threatening diseases.

The key players in the global NGS services market are Illumina, Inc. (U.S.), Qiagen N.V. (The Netherlands), PerkinElmer, Inc. (U.S.), Eurofins Scientific SE (Luxembourg), GATC Biotech AG (Germany), Macrogen, Inc. (South Korea), Genotypic Technology Pvt. Ltd. (India), GENEWIZ, Inc. (U.S.), Beijing Genomics Institute (BGI) (China), SciGenom Labs Pvt. Ltd (India), MedGenome (India), DNA Link, Inc. (South Korea), Otogenetics Corporation (U.S.), Novogene Corporation (China), LGC Limited (U.K.), CD Genomics (U.S.), and SeqLL, LLC (U.S.).

Key questions answered in the report-

  • Which are the high growth market segments in terms of service type, technology, application, end user, and region/countries?
  • What is the historical market for NGS services across the globe?
  • What are the market forecasts and estimates from the period 2018-2023?
  • What are the major drivers, restraints, opportunities, and challenges in the global NGS services market?
  • Who are the major players in the global NGS services market and what share of the market do they hold?
  • Who are the major players in various countries and what share of the market do they hold?
  • How is the competitive landscape and who are the market leaders in the global NGS services market?
  • What are the recent developments in the global NGS services market?
  • What are the different strategies adopted by the major players in the global NGS services market?
  • What are the geographical trends and high growth regions/countries?
  • Who are the local emerging players in the global NGS services market and how do they compete with the global players?

About Meticulous Research®

Meticulous Research® is founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.

With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicated market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth. Meticulous Research® produces global reports and custom studies for North America, Europe, Latin America, Asia-Pacific, and the Middle East and Africa regions. These reports are used by our clients for marketing and strategic planning in various sectors.

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