|Next Generation Sequencing (NGS) Services Market Worth $13.1 Billion by 2025- Exclusive Report by Meticulous Research®|
|By GLOBE NEWSWIRE|
|Thursday, 10 October 2019 05:14|
London, Oct. 10, 2019 (GLOBE NEWSWIRE)
London, Oct. 10, 2019 (GLOBE NEWSWIRE) -- According to a new market research report “Next Generation Sequencing (NGS) Services Market by Service Type (Targeted Sequencing, Exome, RNA-Seq, ChIP Sequencing), Technology (Sequencing by Synthesis, Nanopore, SMRT), Application (Clinical Diagnosis, Biomarker Discovery), and End User - Forecast to 2025”, published by Meticulous Research®, the global next generation sequencing (NGS) services market is expected to grow at a CAGR of 20.5% from 2019 to reach $13.1 billion by 2025.
The recent advances in the field of genomics research over the past few years have led to substantial reduction in the cost of genome sequencing. The NGS technology has reduced the cost and increased the speed of DNA sequencing significantly. In genomics research field, sequencing is being applied not only to assemble genomes and to investigate the genetic basis of human diseases, but also to understand the diverse nature of reproductive medicine, oncology and infectious diseases. The declining cost of genome sequencing could revolutionize healthcare, allowing doctors to prescribe individualized treatment options for patients. This would also enable faster progress in clinical research, pushing research for cancer and other genetically linked diseases forward. The plummeting cost of sequencing would also enable researchers to perform ever larger studies to correlate genes with medical histories, which will consequently boost the demand for NGS services in near future.
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The global next generation sequencing (NGS) services market study presents historical market data in terms of values (2017 and 2018), estimated current data (2019), and forecasts for 2025-by service type (targeted sequencing, RNA sequencing, exome sequencing, De Novosequencing, ChIP-sequencing, whole genome sequencing, methyl sequencing, and other services), technology (sequencing by synthesis, ion semiconductor, single molecule real time sequencing, nanopore sequencing, and true single molecule sequencing), application (diagnostics, drug discovery, biomarker discovery, agriculture and animal research, and other applications), end user (hospitals & clinics, pharmaceutical & biotechnology industry, academic & research institutes, and other end users), and geography. The study also evaluates industry competitors and analyzes the market at regional and country level.
Based on service type, targeted sequencing services segment is estimated to command the largest share of the overall NGS services market in 2019. The high share of targeted sequencing is attributed to its ability to isolate and sequence fragment of genes or region and increasing adoption of targeted sequencing in biomarker research.
Based on technology, Sequencing by Synthesis segment is estimated to hold the largest share of the overall NGS services market in 2019. The large share of this segment is attributed to its high accuracy in DNA sequencing, highest yield of error free throughput, and base call value above Q30 as compared to other technologies in this market. However, single molecule real time (SMRT) sequencing technology market is expected to grow at the fastest CAGR during the forecast period, owing to its rising adoption for understanding the kinetic information in various areas of research, including genome, transcriptome, and epigenetics.
Based on application, the diagnostics segment is estimated to command the largest share of the overall next generation sequencing services market in 2019. The large share of the diagnostics segment is primarily attributed to the significant use of NGS services for the treatment of cancer patients, globally, and improvement in NGS based oncology treatments and Non-Invasive Prenatal Tests (NIPT).
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The report also includes extensive assessment of the key strategic developments adopted by the leading market participants in the industry over the past 4 years (2016–2019). The NGS services market has witnessed number of agreements, partnerships & collaborations, new service launches & enhancements, expansions, and mergers & acquisitions in the recent years. For instance, in October 2018, GENEWIZ, Inc. collaborated with Nashville Biosciences to streamline access to biological insights for researchers by combining Nashville Biosciences’ Biovar biobank with GENEWIZ’s next generation sequencing.
The global NGS services market is consolidated in nature with the top 4 players namely Eurofins Scientific SE (Luxembourg), llumina, Inc. (U.S.), PerkinElmer, Inc. (U.S.), and Qiagen N.V. (Netherlands), dominating the market in 2018. These players are continuously focusing on organic as well as inorganic growth strategies to maintain their strong foothold in the market. The other key players in this market are Macrogen, Inc. (South Korea), Genotypic Technology Pvt. Ltd. (India), GENEWIZ, Inc. (U.S.), Beijing Genomics Institute (BGI) (China), SciGenom Labs Pvt. Ltd. (India), MedGenome (U.S.), DNA Link, Inc. (South Korea), Otogenetics Corporation (U.S.), Novogene Corporation (China), LGC Limited (U.K.), CD Genomics (U.S.), and SeqLL, LLC (U.S.).
Browse key industry insights spread across 193 pages with 112 market data tables & 30 figures & charts from the report: https://www.meticulousresearch.com/product/next-generation-sequencing-ngs-services-market-5041/
Scope of the Report:
Next-Generation Sequencing Services Market, by Service Type
Next-Generation Sequencing Services Market, by Technology
Next-Generation Sequencing Services Market, by Application
Next-Generation Sequencing Services Market, by End User
Next-Generation Sequencing Services Market, by Geography
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