Next-generation Sequencing (NGS) Services Market Poised to Grow at a CAGR of 20.5% to reach $13.1 billion by 2025- Meticulous Research
“Next Generation Sequencing Services Market by Service Type (Targeted Sequencing, Exome, RNA-Seq, ChIP Sequencing), Technology (Sequencing by Synthesis, Nanopore, SMRT), Application (Clinical Diagnosis, Biomarker Discovery), & End User – Forecast to 2025.”
Pune, India – January 13, 2020 /MarketersMedia/ —
Meticulous Research® in its latest publication on “NGS Services Market – Global Opportunity Analysis and Industry Forecast to 2025” states that the global NGS Services market is expected to grow at a CAGR of 20.5% from 2019 to 2025 to reach $13,107.4 million by 2025
The power and widespread availability of Next-Generation Sequencing (NGS) platforms, has significantly broadened the scale of many DNA-sequencing (DNA-Seq) applications over the years, from detecting single nucleotide polymorphisms (SNPs) and copy number variations (CNVs), to assembling genomes or transcriptomes, developing quantitative RNA-sequencing (RNA-Seq) analysis, and detecting epigenetic changes. According to the Frontiers in Life Science journal, the current sequencing limit is evaluated to be 13 quadrillion DNA bases per year. This has resulted in the urgent need for new databases that can store large volumes of disparate data types.
As the research area is expanding rapidly, more libraries are moving towards cloud services; hence, the technology has entered into the second phase of its life cycle dominating the IT paradigm. Therefore, the urge for effectively tackling these data has led to an expanded enthusiasm in approaches toward parallelization and dispersed execution of annotation pipelines.
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Growth of the global NGS Services market is mainly attributed to the plummeting cost of sequencing, technological advancements in NGS services, and increase in genome mapping programs. In addition, increasing applications in cancer and agrigenomics research, analysis of complex sequencing data will further provide significant growth opportunities for various stakeholders in this market. However, lack of skilled professionals for efficient NGS sample preparation and analysis is likely to hinder the market growth.
To provide efficient analysis, Meticulous Research® has segmented this market by service type (targeted sequencing, RNA sequencing, exome sequencing, De Novo sequencing, ChIP-sequencing, whole genome sequencing, methyl sequencing, and other services), by technology (sequencing by synthesis, ion semiconductor, single molecule real time sequencing, nanopore sequencing, and true single molecule sequencing), by application (diagnostics, drug discovery, biomarker discovery, agriculture and animal research, and other applications), by end user (hospitals & clinics, pharmaceutical & biotechnology industry, academic & research institutes, and other end users), and geography (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa).
Wherein, geographically, North America commanded the largest share of the global NGS services market in 2018, closely followed by the Europe, and Asia Pacific. However, Asia Pacific region is slated to register highest growth at a CAGR of 22.1% during the forecast period, primarily due to accelerated growth of economies; increasing incidence of infectious and non-communicable diseases with aging population; various government initiatives for genomic research to understand the complex biological process and genetic mutations related to life threatening diseases; increasing investments by the major players; availability of funding; developing healthcare infrastructures; and growing outsourcing activities in the region.
Based on service type, targeted sequencing services commanded the largest share of the global NGS services market in 2018. The high share of targeted sequencing is attributed to its ability to cost effectively & easily isolate and sequence the fragment of genes or region of interest and its increasing adoption for the discovery and development of biomarkers, used to identify the clinically suitable targets in translational research field.
The report provides competitive intelligence in terms of financials, growth strategies, product portfolios, and geographical presence on some of the key players in this market including Illumina, Inc. (U.S.), Qiagen N.V. (The Netherlands), PerkinElmer, Inc. (U.S.), Eurofins Scientific SE (Luxembourg), Macrogen, Inc. (South Korea), Genotypic Technology Pvt. Ltd. (India), GENEWIZ, Inc. (U.S.), Beijing Genomics Institute (BGI) (China), SciGenom Labs Pvt. Ltd. (India), MedGenome (U.S.), DNA Link, Inc. (South Korea), Otogenetics Corporation (U.S.), Novogene Corporation (China), LGC Limited (U.K.), CD Genomics (U.S.), and SeqLL, LLC (U.S.).
Here are detail information about Top 10 NGS services companies
Market Study –
1. Introduction
1.1. Market Ecosystem
1.2. Currency and Limitations
1.2.1. Currency
1.2.2. Limitations
1.3. Key Stakeholders
2. Research Methodology
2.1. Research Process
2.1.1. Secondary Research
2.1.2. Primary Research
2.1.3. Market Size Estimation
3. Executive Summary
4. Market Insights
4.1. Introduction
4.2. Drivers
4.2.1. Plummeting Cost of Sequencing Procedures
4.2.2. Technological Advancements in NGS Services
4.2.3. Increase in Genome Mapping Programs
4.2.4. High Cost of Sequencing Infrastructure
4.3. Restraints
4.3.1. Lack of Skilled Professionals for Efficient NGS Sample Preparation and Analysis
4.4. Opportunities
4.4.1. Increasing Applications in Cancer and Agrigenomics Research
4.4.2. Analysis of Complex Sequencing Data
4.5. Challenges
4.5.1. Accuracy & Standardization Concerns in Diagnostic Testing
4.5.2. Installation of In-House Sequencing Facilities in Large Hospitals and Academic Universities
4.5.3. Ethical Issues Related to Non-Invasive Prenatal Testing
5. Next Generation Sequencing Services Market, by Service Type
5.1. Introduction
5.2. Targeted Sequencing
5.3. RNA Sequencing Services
5.4. Exome Sequencing Services
5.5. DE Novo Sequencing Services
5.6. ChIP Sequencing Services
5.7. Whole Genome Sequencing
5.8. Methyl Sequencing
5.9. Other Services
6. Next Generation Sequencing Services Market, by Technology
6.1. Introduction
6.2. Sequencing by Synthesis (SBS)
6.3. Ion Semiconductor Sequencing (IOS)
6.4. Single Molecule Real Time Sequencing (SMRT)
6.5. Nanopore Sequencing
6.6. True Single Molecule Sequencing (tSMS)
7. Next Generation Sequencing Services Market, by Application
7.1. Introduction
7.2. Diagnostics
7.3. Drug Discovery
7.4. Biomarker Discovery
7.5. Agriculture & Animal Research
7.6. Other Applications
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8. Next Generation Sequencing Services Market, by End User
8.1. Introduction
8.2. Hospitals & Clinics
8.3. Pharmaceutical & Biotechnology Companies
8.4. Academics & Research Institutes
8.5. Other End Users
9. Next Generation Sequencing Services Market, by Geography
9.1. Introduction
9.2. North America
9.2.1. U.S.
9.2.2. Canada
9.3. Europe
9.3.1. Germany
9.3.2. France
9.3.3. U.K.
9.3.4. Italy
9.3.5. Spain
9.3.6. Rest of Europe
9.4. Asia Pacific
9.4.1. Japan
9.4.2. China
9.4.3. India
9.4.4. Rest of Asia-Pacific
9.5. Latin America
9.6. Middle East & Africa
10. Competitive Landscape
10.1. Introduction
10.2. Key Growth Strategies
10.3. Competitive Benchmarking
10.4. Market Share Analysis (2018)
10.4.1. Eurofins Scientific SE
10.4.2. Illumina, Inc.
10.4.3. PerkinElmer, Inc.
10.4.4. Qiagen N.V.
11. Company Profiles (Business Overview, Financial Overview, Service Portfolio, Strategic Developments)
11.1. Illumina, Inc.
11.2. Qiagen N.V.
11.3. PerkinElmer, Inc.
11.4. Eurofins Scientific SE
11.5. Macrogen, Inc.
11.6. LGC Limited
11.7. Genotypic Technology Pvt. Ltd.
11.8. GENEWIZ, Inc.
11.9. Beijing Genomics Institute (BGI)
11.10. SciGenom Labs Pvt. Ltd
11.11. MedGenome Inc.
11.12. DNA Link, Inc.
11.13. Otogenetics Corporation
11.14. Novogene Corporation
11.15. CD Genomics
11.16. SeqLL Inc.
12. Appendix
12.1. Questionnaire
12.2. Available Customization
Download key industry insights spread across 193 pages with 112 market data tables & 30 figures & charts from the report: https://www.meticulousresearch.com/download-sample-report/cp_id=5041
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