Next generation sequencing market is projected to expand at a CAGR of 20.21%, to grow from US$4.374 billion in 2017 to US$13.198 billion by 2023. The global demand for next-generation sequencing (NGS) products and services is highly driven by an increase in the application of NGS, technological advancement in NGS technology, increase in genome mapping programs, and surge in collaborations and partnerships resulting in high investments in R&D in NGS technology. The efficient replacement of traditional technologies (microarrays), cost efficiency, speed and accuracy of technology along with the rise in the application in drug discovery will aid to the global next-generation sequencing demand growth over next five years. However, lack of skilled professionals, interpretation of complex data, and legal and ethical issues are expected to hinder the NGS market growth.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the pressure sensors value chain. The last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the market.
Major industry players profiled as part of the report are Roche Holding AG, Agilent Technologies, Thermo Fisher Scientific, Beijing Genomics Institute, GATC Biotech AG, and Pacific Biosciences of California, Inc. among others.
The next generation sequencing market has been analyzed through following segments:
By Product and Services
Sequencing Services and Analysis
Sequencing by Synthesis
ION Torrent Sequencing
Agriculture and Animal Research
Middle East and Africa