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Next Generation Sequencing Market Share, Growth, Sales Revenue and Key Drivers Analysis Research Report by 2027

Reports And Data

Reports And Data

ThermoFisher Scientific, Pacific biosciences, and Oxford Nanopore Technologies are among key innovators of next generation sequencing technologies.

NEW YORK , NEW YORK, UNITED STATES, September 13, 2021 /EINPresswire.com/ -- According to the current analysis of Reports and Data, the global next generation sequencing market was valued at USD 5,793.4 million in 2019 and is expected to reach USD 22.16 billion by the year 2027, at a CAGR of 15.9%. Next-generation sequencing non-Sanger based high throughput method of sequencing. Entire next generation sequencing methodology engages a wide range of reagents, kits, equipment, software and tools for the pieces of its entire workflow that includes sample preparation, library preparation & amplification, sequencing, and analysis. Due to the constant innovations in the NGS technologies, there has been a significant decline in the sequencing costs, complexity and turnaround time. Horizons of the NGS applications is expanding, which in turn offers ample opportunities to emerging as well the existing market players.

Illumina, ThermoFisher Scientific, Pacific biosciences, and Oxford Nanopore Technologies are among key innovators of next generation sequencing technologies. Based on the application, individual technologies are conquering the NGS markets across the globe. Illumina’s SBS technology remains the top choice of the researchers across the globe, considering the reducing costs and high precision. Clinical Diagnostic applications of NGS is dominated by ThermoFisher’s semiconductor NGS technology owing it to its less turnaround time. Pacific Biosciences’ long read sequencing technology is paving its success path for the de-novo sequencing applications. Oxford Nanopore remains a key innovator with its long read, portable, real-time sequencing offerings. Despite differences in the technological basis of individual companies, the market players in NGS products & services are focused on providing low cost, efficient, reliable, user friendly, compact and accurate sequencing experience to their customers. Furthermore, bioinformatics tools plays a vital role in the advancement of NGS workflow and analysis, and continues to register significant growth in the global market. Also, NGS services holds more than one fourth of the revenue generated in the global next generation sequencing market and is fragmented in nature, unlike NGS products market.

Furthermore, increased government initiatives, availability of research funds from private as well as public bodies, improvement in the reimbursement scenario for NGS based diagnostics, and rising awareness about benefits of NGS technologies are among the key factors propelling the growth of next generation sequencing market.

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Market Overview:

The pharma and healthcare industry has undergone a revolutionary change owing to the COVID-19 pandemic with individuals increasing their focus on health and wellness. Companies operating in the industry have invested heavily in clinical trials and research studies to develop medications to cater to the growing unmet clinical demand on a global level. Implementation of cutting-edge technology in healthcare sector and increasing investment in research and development have contributed significantly to revenue growth of the market in the recent past. In addition, availability of favorable health insurance and reimbursement policies have also positively impacted the healthcare sector with more and more individuals opting to get treatment at hospital and clinical facilities. Rapid development of novel drugs and pharmaceuticals, increasing incidence of lifestyle and chronic diseases, establishment of state-of-the-art healthcare facilities, and rising availability of over-the-counter medications have significantly contributed to the revenue growth of the market.

The report has gather vital information about recent mergers and acquisitions, joint ventures, collaborations, partnerships, brand promotions, R&D activities, and government and corporate deals, among others through extensive primary and secondary research. The report also offers detailed analysis of each competitor along with their financial standing, global market position, product portfolio, manufacturing and production capacity, and business expansion plans.

The report offers a comprehensive overview of the regional bifurcation of the market with respect to market share, market size, revenue growth, import/export, production and consumption patterns, macro and micro economic growth factors, regulatory framework, investment and funding opportunities, and presence of key players in each region including North America, Asia Pacific, Latin America, Europe, and Middle East & Africa. The report offers a country-wise analysis to further discuss the revenue growth and lucrative growth opportunities for the Next Generation Sequencing market in these key regions.

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Further key findings from the report suggest

• NGS platforms segment is expected to grow with a CAGR of 14.7% during the forecast period. Consumables remains the chief revenue generating segment in global next generation sequencing market

• Diagnosis of complex diseases, whole-genome sequencing, analysis of epigenetic modifications, mitochondrial sequencing, transcriptome sequencing, and exome sequencing, are among the key applications of NGS contributing to the market growth

• The volume of data generated from sequencing has significantly increased as a result of wide scale use of next generation sequencing. Consequently, the demand for NGS data analysis & data management tools & software is on surge

• RNA-Seq through next generation sequencing allows profiling of the entire transcriptome, including the coding and non-coding regions; and facilitates gene identification, provides information on their relative abundance, identification of novel transcripts, detection of other genetic variation

• Reduced costs and increased reliability of underlying NGS technologies has allowed next generation sequencing to flourish for research applications as well as healthcare applications such as clinical development, and clinical diagnostics

• North America remains the key revenue generating geographical segment in next generation sequencing market. The geographical segment accounted for USD 1.88 billion in 2019. Availability of research funds from public as well as private sources, availability of state-of-art technologies, presence of key market players in the region, favorable reimbursements for NGS based diagnostics, rising focus on precision medicine, and rising awareness about NGS applications, are among the key factors driving the market growth for next generation sequencing in this region

• The global next generation sequencing market is highly fragmented with major players like Illumina, Inc. (U.S.), Thermo Fisher Scientific, Inc. (U.S.), Pacific Biosciences of California, Inc. (U.S.), Oxford Nanopore Technologies, Ltd. (U.K.), BGI (China), PerkinElmer (U.S.), Agilent Technologies (U.S.), QIAGEN N. V. (Germany), Macrogen Inc. (South Korea), and Eurofins Scientific (Luxembourg), collectively constituting a competitive market

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For the purpose of this report, Reports and Data has segmented the Next Generation Sequencing market on the basis of product and service, technology, application, end user and region:

Product & Service Outlook (Revenue in Million USD; 2017–2027)

• Pre-sequencing Products and Services
o Sample Preparation
o Library Preparation & Target Enrichment
o Quality Control
• NGS Consumables
• NGS Platforms
o Illumina
 Hiseq Series
 Hiseq X Ten & HiSeq X Five
 Miseq Series
 NextSeq500
 MiniSeq
 NovaSeq
 iSeq
o Thermo Fisher Scientific
 Ion PGM
 Ion Proton
 Ion Genestudio S5
 Ion GeneStudio S5 System
 Ion GeneStudio S5 Plus System
 Ion GeneStudio S5 Prime System
o Pacific Biosciences
 Pacbio Sequel Systems
o Oxford Nanopore Technologies
o Other Next-generation Platforms
• Services for NGS Platforms
• Sequencing Services
o Exome & Targeted Sequencing and Custom Panels
o RNA-Seq
o Whole-genome Sequencing and De Novo Sequencing
o Other Services
• Bioinformatics
o NGS Data Analysis Software & Workbenches
o NGS Data Analysis Services
o NGS Storage Management and Cloud Computing Solutions

Technology Outlook (Revenue in Million USD; 2017–2027)

• Sequencing by Synthesis (SBS)
• Ion Semiconductor Sequencing
• Single-molecule Real-time Sequencing (SMRT)
• Nanopore Sequencing
• Other Technologies

Application Outlook (Revenue in Million USD; 2017–2027)

• Diagnostics
• Cancer Diagnostics
• Infectious Disease Diagnostics
• Reproductive Health Diagnostics
• Other Diagnostic Applications
• Drug Discovery
• Agricultural and Animal Research
• Other Applications

End User Outlook (Revenue in Million USD; 2017–2027)

• Academia & Research Centers
• Hospitals & Clinics
• Pharmaceutical & Biotechnology Companies
• Other End Users

Regional Outlook (Revenue in Million USD; 2017–2027)

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• Latin America

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About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.

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