According to IMARC Group’s latest report, titled “Next-Generation Sequencing (NGS) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025”, the global next generation sequencing (NGS) market is expanding at double digit growth rate and is expected to grow at a CAGR of 17% during 2020-2025.
Next-generation sequencing refers to the process of determining the sequence of nucleotides in DNA. It involves various procedures, such as sequencing by synthesis (SBS), ion semiconductor sequencing, nanopore sequencing, and single-molecule real-time (SMRT) sequencing. Next-generation sequencing is a cost-effective solution that offers faster and highly precise results. This enables the analysis of millions of DNA molecules, which facilitates research activities in the fields of personalized and genetic medicines, agriculture and animal research, and clinical diagnostics.
The growing prevalence of chronic diseases, such as cancer, along with several technological advancements in the field of medical sciences are primarily driving the next generation sequencing market. Furthermore, due to the widespread utilization of liquid biopsies in cancer diagnosis, there has been an increasing demand for NGS technologies. These technologies utilize cell-free circulating tumor DNA (ctDNA) as a non-invasive cancer biomarker for real-time cancer monitoring and detection. Additionally, the increasing adoption of genome mapping solutions to forecast and analyze numerous chronic ailments is also propelling the market. Other factors, such as declining costs of NGS technologies and numerous R&D activities in the field of sequencing chemistry, are further expected to drive the next generation sequencing (NGS) market growth in the coming years.
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Next Generation Sequencing Market 2020-2025 Competitive Analysis and Segmentation:
The competitive landscape of the next generation sequencing market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
The report has segmented the global next generation sequencing market on the basis of sequencing type, product type, technology, application, end-user and region.
Breakup by Sequencing Type:
Breakup by Product Type:
Breakup by Technology:
Breakup by Application:
Breakup by End-User:
Breakup by Region:
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