United States Next Generation Sequencing Market to grow at a Significant Rate through 2026
Advancements in technology and increasing prevalence of cancer is expected to drive the demand for United States next generation sequencing market for the forecast period.
According to TechSci Research report, “United States Next Generation Sequencing Market By Product (Consumables, Platforms, Services) By Technology (Sequencing by Synthesis, Ion Semiconductor Sequencing, Sequencing by Ligation, Single Molecule Real Time Sequencing, Others) By Application (Biomarkers & Cancer, Diagnostics, Reproductive Health, Personalized Medicine, Agriculture & Animal Research, Others) By End User (Academic & Clinical Research Centers, Pharmaceutical & Biotechnology Companies, Hospitals & Clinics, Others) By Company, By Region, Forecast & Opportunities, 2026”, The United States next generation sequencing market is expected to witness significant growth for the next five years. Advancement in platforms used for next generation sequencing and lowering cost of genome sequencing is driving the growth of the market. Continuous innovations in next generation sequencing have led to efficient, easy to use platforms, rapid and accurate test results along with portability which is influencing the demand of next generation sequencing technology in United States. Increase in use of next generation sequencing for conducting cancer research is further accelerating the growth of the market.
The COVID-19 outbreak across the world which has been declared as pandemic by World Health Organization has affected countries adversely. Leading authorities in United States imposed lockdown restrictions and released a set of precautionary measures to contain the spread of novel coronavirus. Coronavirus affected patients started suffering from shortness of breath along with coughing and sneezing which created lucrative opportunities for the growth of the next generation sequencings market. United States authorities increased the capacity of hospitals as a greater number of patients were getting affected daily and getting admitted into the hospital facilities. Genome sequencing is used to understand the spread and map of evolution of coronavirus. The study is further utilized in making effective drugs and treatment of COVID-19. Major market players are investing to develop vaccines and therapies to ensure the long-term treatment of COVID-19.
However, next generation sequencing is time-consuming and less cost-effective for sequencing low number of targets ranging from 1-20 which may create hindrance in the growth of the next generation sequencing market.
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United States next generation sequencing market is segmented into product, technology, application, end user, regional distribution, and company. Based on application, market is further divided into biomarkers & cancer, diagnostics, reproductive health, personalized medicine, agriculture & animal research, and others. The biomarkers & cancer segment is expected to hold major market share for the forecast period, 2022-2026. Increasing prevalence of cancer and supportive government policies is fueling the demand of next generation sequencing market for the next five years. Next generation sequencing coupled with bioinformatics tools is providing tremendous potential for research and development and seeking effective ways for diagnosis and treatment. Next generation sequencing is used in enhancing the genomic profile of tumour samples which is expected to improve the treatment of cancer in long run. Based on product, market is majorly categorized into consumables, platforms, and services. The consumables segment is expected to dominate the market due to introduction of easy-to-use consumables and increase in number of sequencing procedures performed in United States. On the basis of technology analysis, market is fragmented into sequencing by synthesis, ion semiconductor sequencing, sequencing by ligation, single molecule real time sequencing and others. The sequencing by synthesis segment is expected to hold major market share due to high demand for next generation sequencing platforms based on sequencing by synthesis technology.
Illumina, Inc., Thermo Fischer Scientific, Inc., Roche Diagnostics Corporation, Agilent Technologies, Inc., PerkinElmer Inc., Pacific Biosciences of California Inc, 10x Genomics Inc., Amgen Inc., Bio-Rad Laboratories, Inc., QIAGEN Inc. are the leading players operating in United States next generation sequencing market. Service providers are increasingly focusing on research and development process to fuel higher growth in the market. To meet evolving customer demand with respect to better efficiency and durability, several next generation sequencing providers are coming up with their technologically advanced offerings.
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“Rise in use of Amplicon RNA-Seq technology for targeted RNA sequencing for diagnosis procedurals is driving the growth of the market. Also, the availability of kits for cardiotoxicity, cell cycle, apoptosis, among others is fueling the growth of next generation sequencing demand. Launch of novel products by major players such as providing platform for genetic screening and support from the government for carrying out research and development activities is expected to propel the next generation sequencing market growth until 2026” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“United States Next Generation Sequencing Market By Product (Consumables, Platforms, Services) By Technology (Sequencing by Synthesis, Ion Semiconductor Sequencing, Sequencing by Ligation, Single Molecule Real Time Sequencing, Others) By Application (Biomarkers & Cancer, Diagnostics, Reproductive Health, Personalized Medicine, Agriculture & Animal Research, Others) By End User (Academic & Clinical Research Centers, Pharmaceutical & Biotechnology Companies, Hospitals & Clinics, Others) By Company, By Region, Forecast & Opportunities, 2026” has evaluated the future growth potential of United States next generation sequencing market and provided statistics & information on market size, shares, 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 the of United States next generation sequencing market.
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