As per this report, the Market Data Forecast says, the size of the Global NGS Market which was worth USD 3.63 billion by the end of 2019 is poised to reach USD 8.54 billion by 2024 at a CAGR of 18.66%.
Key Market Growth Drivers
The next-generation data analysis market is anticipated to see the fastest growth during the forecast period. With an expected increase in the enactment of whole-genome sequencing, the following data generation from sequencing projects is predicted to grow harmonically with the number of sequencing projects.
Potential Opportunities
Modern technologies assist in the sequencing of DNA and RNA much more quickly and cheaply than the Sanger sequencing and these have transformed the study of genomics and molecular biology. The arrival of next-generation sequencing technologies has brought noteworthy changes in the sequencing process by providing speed, flexibility and reduced sequencing cost over a thousand folds.
Major Challenges
Advancements in pre-sequencing and NGS bioinformatics solutions, Rise in growth of personalized medicine and cloud computing, increasing incidences of infectious diseases, growth in global population, and cancer are few factors driving the market growth. In addition, anticipated decrease in the prices of genome sequencing due to the development of rapid, high capacity whole genome sequencers by key players is expected to have a positive effect on market penetration rates over the few years. However, the storage and management of data generated by sequencing and its interpretation, high reliability on grants & funding from the government and fall in capital expenditure from academic institutions are few factors hindering the growth of the global next-generation sequencing market.
This research report on Global Next-Generation Sequencing (NGS) Market has been segmented and sub-segmented into the following categories and analyzed market size and forecast until 2024.
Next-Generation Sequencing Market - By Product:
On the basis of product, the Services segment accounts for the largest share of the sequencing market of the next generation. Advances in sequencing technology, an increasing number of sequencing procedures, technological advancement and its applications are the key drivers for the growth of this segment.
Next-Generation Sequencing Market - By Technology:
Among the mentioned applications, the category of Targeted sequencing is expected to show the highest growth during the forecast period due to the growing capabilities for whole-genome sequencing.
Next-Generation Sequencing Market - By Application:
On the basis of application, The Personalized Medicine segment is expected to show the highest growth over the forecast period as demand for individualistic drug treatment rises as each patient is different. In addition, with growing awareness about NGS and its function in medical settings, it is expected that requests from patients to primary care physicians for NGS testing will increase, especially from healthy adults seeking early detection or disorder prevention.
Next-Generation Sequencing Market - By Region:
Regionally, North America is poised to account for the prime market share of the NGS market, followed by Europe. Due to increased technological innovations and growing investments in the field, North America is expected to register the highest CAGR and dominate the market during the forecast period. Market growth is driven by the advancement of NGS bioinformatics solutions and the presence of major players in the region.
Asia-Pacific region presents significant opportunities for the investors/venture capitalists as the developed markets get saturated. Japan has the largest share in Asia-Pacific NGS Market which accounts for 38% of the total market in 2018. China is expected to grow at the highest CAGR showing with Y-O-Y Growth Rate between 20.3% to 30.6% range from 2018 to 2021. The presence of noteworthy developments in China and Japan for the integration of new technologies, and the development of healthcare, R&D and clinical development frameworks of developing economies such as India and Australia have led to the Asia Pacific market to witness rewarding growth throughout the forecast period.
Key Recent Developments in the Market:
Key Companies in the NGS Market
Noteworthy Companies leading the Global Next Generation Sequencing Market profiled in the report are Illumina, Thermo Fisher Scientific, Pacific Biosciences, Macrogen Inc., Partek Inc., Genomatix Software GmbH, Perkin Elmer inc., GATC Biotech Ag, Agilent Technologies Inc., Biomatters Ltd., BGI (Beijing Genomics Institute), Oxford Nanopore Technologies Ltd., DNASTAR Inc., Knome Inc. and Qiagen N.V.
1.Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Analysis Design
2.3 Research Phases
2.3.1 Secondary Research
2.3.2 Primary Research
2.3.3 Econometric Modelling
2.3.4 Expert Validation
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 By Product
5.1.1 Software
5.1.2 Services
5.2 By Technology
5.2.1 Whole Targeted Re-Sequencing
5.2.2 Genome Sequencing
5.2.3 De Novo Sequencing
5.2.4 Exome Sequencing
5.2.5 RNA-Seq
5.2.6 ChIP-Seq
5.2.7 Methyl-Seq
5.3 By Application
5.3.1 Diagnostics
5.3.2 Drug Discovery
5.3.3 Biomarker Discovery
5.3.4 Personalized Medicine
5.3.5 Agriculture and Animals Research
6. Geographical Analysis
6.1 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.2 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.3 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 South Korea
6.4 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Argentina
6.4.4 Mexico
6.4.5 Rest of Latin America
6.5 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle East
6.5.3 Africa
7.Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8.Market Leaders' Analysis
8.1 Illumina Inc.
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Thermo Fisher Scientific
8.3 Life Sciences (Roche)
8.4 Pacific Biosciences
8.5 Macrogen Inc.
8.6 Partek Inc.
8.7 Genomatix Software GmbH
8.8 Perkin Elmer inc.
8.9 GATC Biotech Ag
8.10 Agilent Technologies Inc.
8.11 Biomatters Ltd.
8.12 CLC Bio (Qiagen)
9.Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10.Expert Opinions
10.1 Market Outlook
10.2 Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
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