Next Generation Sequencing Market To Reach USD USD 22.16 Billion By 2027 With CAGR of 15.09 %

Market Size – USD 6.71 billion in 2019, Market Growth – CAGR of 15.9 %, Market Trends– Advancements in NGS platform and improved regulations for NGS diagnostic tests

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.

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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Top Companies Profiled in the Report Include :

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)
Eurofins Scientific (Luxembourg)

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
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

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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:

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

Key Regional Markets Studied in the Report:

North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
The Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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Tags: Next Generation Sequencing Size, Next Generation Sequencing Share, Next Generation Sequencing Trend, Next Generation Sequencing medical