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 Fisher • Asia
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
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