“Global next-generation sequencing (NGS) services market projected to grow at a CAGR of 21.0%”
The global next-generation sequencing (NGS) services market is expected to reach USD 2,748.6 million by 2022 from USD 1,059.2 million in 2017; growing at a CAGR of 21.0% during the forecast period. Factors such as declining price of sequencing, the high cost of sequencing infrastructure, the need for skilled professionals for efficient NGS sample preparation and analysis, and technological advancements in the field of sequencing are driving the growth of this market. However, installation of in-house sequencing facilities in hospitals and universities is expected to limit the optimal market growth for NGS services during the forecast period
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“Targeted resequencing & custom gene panels are expected to grow at the highest CAGR during 2017 to 2022”
By type, the global NGS services market covers targeted resequencing & custom gene panels, RNA-Seq, de novo sequencing, exome sequencing, CHiP-Seq, whole-genome sequencing, methyl-seq, and other services. The targeted resequencing & custom gene panels segment is expected to grow at the highest CAGR during 2017 to 2022. Targeted sequencing/gene panels allow researchers to focus on the subset of genes or region, which reduces the time consumed for sequencing, the cost of sequencing, and simplifies data analysis.
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“Sequencing by synthesis technology to dominate the global NGS services market during the forecast period”
By technology, the NGS services market is segmented into sequencing by synthesis (SBS), ion semiconductor sequencing, single-molecule real-time sequencing, and nanopore sequencing. The SBS segment is estimated to account for the largest share of the NGS services market in 2017. The introduction of technologically advanced SBS platforms and decreasing cost of sequencing are the major factors driving the growth of the SBSsegment.
“APAC is projected to witness the highest growth during the forecast period “
While North America accounted for the largest share of the market in 2016, Asia-Pacific is expected to register the highest growth rate during the forecast period from 2017 to 2022. This is owing to increasing incidence of target diseases, rising awareness regarding the benefits of NGS-based clinical applications, and growing research activity in the region.
Breakdown of supply-side primary interviews: by company type, designation, and region:
• By Company Type – Tier 1 –31%, Tier 2 –48% and Tier 3 –21%
• By Designation – C level – 26%, Director level – 24%, Others – 50%
• By Region – North America – 29%, Europe – 35%, APAC – 21%, RoW – 15%
As of 2016, major players operating in the global NGS services market are BGI (China), Eurofins Scientific SE (Luxembourg), PerkinElmer, Inc. (U.S.), QIAGEN (Germany), Macrogen Inc. (South Korea), GENEWIZ, Inc. (U.S.), Illumina, Inc. (U.S.), Novogene Corporation (China), and GATC Biotech AG (Germany) among others.
Research Coverage:
The report analyzes the Next-Generation Sequencing (NGS) Services s market and aims at estimating the market size and future growth potential of this market based on various segments such as product, type, therapy, and region. The report also includes competitive analysis of the key players in this market along with their company profiles, product offerings, recent developments, and key market strategies.
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The report can help established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn would help them garner a greater share. Firms purchasing the report could use one or any combination of the below mentioned five strategies.
This report provides insights into the following pointers:
• Market Penetration: Comprehensive information on the product portfolios of the top players in the Next-Generation Sequencing (NGS) Services s market. The report analyzes the market based on product, type, therapy, and region
• Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and product launches in the Next-Generation Sequencing (NGS) Services s market
• Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for various Next-Generation Sequencing (NGS) Services s across regions
• Market Diversification: Exhaustive information about products, untapped regions, recent developments, and investments in the Next-Generation Sequencing (NGS) Services s market
• Competitive Assessment: In-depth assessment of market shares, strategies, products, distribution networks, and manufacturing capabilities of the leading players in the Next-Generation Sequencing (NGS) Services s market
Related report:
Next-Generation Sequencing (NGS) Market by Product (Hiseq Miseq Hiseq X Ten X Five NextSeq500 Ion Proton PGM Ions5 PacBio RSII) Services (Targeted RNA Exome De Novo) & Application (Diagnostics Biomarker Agriculture) - Global Forecasts to 202
The global next-generation sequencing market is estimated to register a CAGR of 20.5% from 2017 to 2022 to reach USD 12.45 billion by 2022. Factors such as technological advancements in NGS platforms, increasing applications of NGS, growing partnerships and collaborations, and increasing adoption of NGS among research laboratories and academic institutes are driving the growth of this market. On the other hand, accuracy and standardization concerns in diagnostic testing and the lack of skilled technical personnel are some of the key factors limiting the growth of the market.
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