Next Generation Sequencing Market 2019 - Applications and Top Key Vendors
Posted by Ryan Shaw on August 9th, 2019
The global Next Generation Sequencing Market is expected to reach USD 19.70 billion by 2025 registering a CAGR of 12.78%, according to a new report by Grand View Research, Inc. Growing application of NGS methodologies due to rising number of strategic developments initiated by the market participants is one of the key drivers of the market. These novel strategies mark the presence of intense competition between the key firms. Companies are further increasing their installation base by providing sequencing services in different emerging countries. For instance, in April 2018, Illumina entered into a partnership with Loxo Oncology for the development of Illumina TruSight Tumor 170 NGS test as a companion diagnostic for Loxo Oncology’s LOXO-292 and larotrectinib for tumor profiling.
Similarly, in March 2018, PierianDx partnered with cancer genetics to offer NGS-based tests for oncology precision medicine. NGS technologies experience significant growth due to rapid automation in the pre-sequencing protocols and advancements in clinical diagnosis and disease testing. Wide application of this technique in oncology, reproductive screening, infectious disease, noninvasive prenatal testing, and pharmacogenomics is also expected to positively impact the market growth. Reduced costs of genetic sequencing has also significantly enhanced the adoption of these technologies. Reduced installation costs of NGS platforms and easy availability of proteomic and genomic data has also resulted in an increased demand, thereby propelling the market development.
Browse Details of Report @ https://www.grandviewresearch.com/industry-analysis/next-generation-sequencing-market
Further key findings from the study suggest:
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About the AuthorRyan Shaw
Joined: August 11th, 2017
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