The global next generation sequencing market is expected to reach USD 19.70 billion by 2025 registering a CAGR of 12.78%

Date : 08/13/2019 @ 8:50PM
Source : PR Newswire (US)

The global next generation sequencing market is expected to reach USD 19.70 billion by 2025 registering a CAGR of 12.78%

NEW YORK, Aug. 13, 2019 /PRNewswire/ --

Next Generation Sequencing (NGS) Market Size, Share & Trends Analysis Report By End Use, By Technology, By Products & Services, By Application, By Workflow, By Region, And Segment Forecasts, 2019 - 2025

Read the full report: https://www.reportlinker.com/p05763745/?utm_source=PRN The global next generation sequencing market is expected to reach USD 19.70 billion by 2025 registering a CAGR of 12.78% 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.

key findings from the study suggest: • NGS-based platforms & related products account for the dominant market share due to the presence of sequencing platforms and instruments required for clinical applications • Growing awareness related to NGS services is likely to boost growth of the services segment • Cancer-related genes have a high level of genomic heterogeneity that can be easily detected by NGS, thus resulting in maximum revenue flow from the oncology field • On the basis of workflow, sequencing vertical accounted for the largest revenue share of the NGS market in 2018 and is said to continue its dominance over the forecast period • High demand for this technology and usage of NGS platforms for several research projects and Ph.D. programs contributes to academic research segment's growth • Whereas, clinical research segment will witness a significant CAGR owing to emergence of NGS applications in clinical research and studies • North American held the maximum revenue share in 2018 due to the presence of a number of NGS technology providers, such as Illumina and Thermo FisherAsia Pacific is expected to emerge as the fastest-growing region due to continuous improvements laid by key participants in emerging economies, such as China and India • Prominent companies in the global market include Illumina Inc.; QIAGEN; F Hoffman-La Roche Ltd.; Thermo Fisher Scientific Inc.; and Bio-Rad Laboratories, Inc. • Product development and M&A are some of the key strategies adopted by these companies, for instance, Illumina acquired Edico Genome to improve the overall efficiency of NGS solutions provided by Illumina

Read the full report: https://www.reportlinker.com/p05763745/?utm_source=PRN

About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.

Contact Clare: clare@reportlinker.com

US: (339)-368-6001

Intl: +1 339-368-6001

Cision View original content:http://www.prnewswire.com/news-releases/the-global-next-generation-sequencing-market-is-expected-to-reach-usd-19-70-billion-by-2025-registering-a-cagr-of-12-78-300900702.html

SOURCE Reportlinker

Copyright 2019 PR Newswire

Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.

NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:us D:20190819 01:18:40