Next Generation Sequencing Market is Expected to Reach 12,756.4 Mn by 2025

Posted by Shristi on November 8th, 2019

Analyst Speak:

“The Next Generation Sequencing Market is anticipated to reach US$ 12,756.4 Mn by 2025, and anticipated to grow prominent over seven years of forecast period 2019-2025 due to surge in prevalence of chronic diseases and increase in the demand for personalized medicine.”

Precision Business Insights (PBI) in its report titled “Next Generation Sequencing Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2014-2018 and Forecast 2019-2025” assesses the market performance over seven years forecast period from 2019 to 2025. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period.

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The next generation sequencing market anticipated to reach US$ 12,756.4 Mn by 2025. Rise in the prevalence of certain types of cancers and other chronic diseases due to change in daily life (For instance, As per World Health Organization 2018, around 9.6 Mn deaths occurred due to cancer), rise in demand for personalized medicine, development of advanced technologies for next generation sequencing, and rise in funding from public and private sectors for R&D are anticipated to bolster the next generation sequencing market over forecast years. However, high cost for the R&D, dearth of skilled professionals, complexity in the interpretation of data are hamper the growth of next generation sequencing market over the future years.

Next generation sequencing market segmented on the basis of product type, technology, application, end user, and region.

Consumables Segment Expected to Dominate the Market

Based on product type, the market is segmented into consumables, platforms, and services. Consumables segment dominated the global next generation sequencing market and expected to grow 9.6% CAGR over the forecast years owing to increase in the number of NGS procedures each year. Moreover, market players are focus on the R&D activities to launch newer NGS systems into market. For instance, in February 209, Agilent Technologies launched Magnis NGS Prep System, that contains reagents and protocols to assay multiple genes and complex genetic aberrations from genomic DNA including degraded samples such as formalin-fixed paraffin embedded (FFPE). In addition, services segment contributed a notable share in 2018 and the segment expected to grow at high CAGR over the forecast timeframe.

North-America, Accounts for Major Revenue Share for Next Generation Sequencing Market

Precision Business Insights (PBI), next generation sequencing market report analyses the market in different regions North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Among all the regions, North America accounted for major revenue share due to surge in prevalence of cancer diseases in USA and Canada. For instance, according to National Cancer Institute 2018, approximately 1.7 Mn people diagnosed with cancer and 609,640 people will die from the disease. Additionally, surge in R&D for the development of novel techniques, presence of huge number of market players, and rise in demand for early stage disease diagnosis and personalized medicine are boost the market growth over the forecast years. Europe next generation sequencing market growing at significant growth rate attributed to adoption of advanced technologies, sophisticated healthcare infrastructure, and fundraising from public and private sectors are bolster the market over the forecast years.

Launch of Advanced technologies in Next Generation Sequencing Market

• In October 2018, Qiagen N.V. launched QIAseq FastSelect RNA Removal Kit to target RNA types that are irrelevant to their research and remove them from RNA-seq libraries for next-generation sequencing

Key player’s profiles in the report are Agilent technologies, Inc., Qiagen N.V., Thermo Fisher Scientific, Inc., F. Hoffmann La Roche Ltd., Oxford Nanopore Technologies, Perkin Elmer, Inc., Pacific Biosciences of California, Inc., Eurofins Scientific, and bioMerieux SA.

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Detailed Segmentation

By Product Type

• Consumables
• Sample Preparation Consumables
• Others
• Platforms
• MiSeq
• HiSeq
• SOLiD
• Ion Torrent
• Others
• Services
• Targeted Sequencing/Gene Panels
• RNA-Seq
• De Novo Sequencing
• Exome Sequencing
• Chip-Seq
• Whole-Genome Sequencing
• Methyl-Seq
• Others

By Technology

• Ion Semiconductor Sequencing
• Sequencing by The Synthesis (SBS)
• Nanopore Sequencing
• Single-Molecule Real-Time (SMRT) Sequencing
• Others

By Application

• Drug Discovery
• Diagnostics
• Agriculture and Animal Research
• Biomarker Discovery
• Precision Medicine
• Other Applications

By End-User Type

• Biotechnology and Pharmaceutical Companies
• Research Centers
• Hospitals & Clinics
• Others

Geography

North America

• USA
• Canada

Europe

• Germany
• France
• UK
• Italy
• Spain
• Russia
• Poland
• Rest of Europe

Asia-Pacific

• Japan
• China
• India
• Australia & New Zealand
• ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
• South Korea
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Argentina
• Rest of Latin America

Middle East and Africa (MEA)

• Gulf Cooperation Council (GCC) Countries
• Israel
• South Africa
• Rest of MEA

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