Next Generation Sequencing Market is projected to grow at a CAGR of 19.59% during the forecast period 2025

Technological advancements in surge in applications of NGS to drive the growth of global next-generation sequencing market.

According to TechSci Research report, “Global Next-generation Sequencing Market By Product, By Technology, By End User, By Application, By Region, Competition, Forecast & Opportunities, 2025”, the global next-generation sequencing market was valued at USD 8206.75 Million in 2019 and is projected to grow at a CAGR of 19.59% during the forecast period. Millions and billions of DNA strands can be sequenced using next-generation sequencing through massive parallelization. Additionally, the NGS is used to execute numerous applications including oncology studies, biomarker discoveries, agricultural & animal research, personalized medicines, among others, which is aiding the market growth across the globe. Furthermore, increase in partnerships & collaborations are anticipated to supplement the growth of global next-generation sequencing market through 2025.

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Global next-generation sequencing market can be segmented based on product, technology, end user, application, company and region. Considering the end-user segment, the market is fragmented into academic & clinical research centers, pharmaceutical & biotechnology companies, hospitals & clinics, and others. The academic & clinical research centers segment dominated the market until 2019 and is witnessed to register high growth during the next five years. This growth can be attributed to growing number of collaborations between NGS market players and academic & research institutions, development of cost-effective NGS products and services for researchers and favorable funding scenario for genomics research.

Illumina, Inc., Thermo Fisher Scientific, Inc, BGI Group, Perkinelmer Inc., Agilent Technologies, Inc., Pacific Biosciences of California Inc., F. Hoffmann-La Roche Ltd., 10x Genomics Inc., Amgen Inc., Takara Bio Inc., among others are the leading players operating in global next-generation sequencing market.

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“North America is forecast to dominate the global next-generation sequencing market in the next five years on the account of increasing applications of NGS in diagnostics and genomics research. Moreover, availability of research funding coupled with development of NGS data analysis solutions are further boosting the regional market growth of next-generation sequencing services.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Global Next-generation Sequencing Market By Product, By Technology, By End User, By Application, By Region, Competition, Forecast & Opportunities, 2025” has evaluated the future growth potential of global next-generation sequencing market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global next-generation sequencing market.

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