Pune, India, May 17, 2021 (GLOBE NEWSWIRE) — Next-generation Sequencing Market Size| 2021 Covid-19 Impact On Automotive Industry Global Analysis By Size, Trends, Growth, Share, Business, Key Players, Merger, Statistics, Competitive Landscape, And Regional Forecast To 2026 is latest study published by Fortune Business Insights. The global next-generation sequencing market size is expected to gain momentum by reaching USD 31,411.3 million by 2026 while exhibiting a CAGR of 22.2% between 2019 to 2026. In its report titled “Next-generation Sequencing Market, 2019-2026.”, Fortune Business Insight mentions that the market stood at USD 6,335.2 million in 2018. The rising demand for cost-effective and accurate DNA sequencing to treat genetic diseases is expected to drive the market. Moreover, the launch of several genomic projects in countries such as Qatar and the U.K with able support from the government is expected to fuel the market in upcoming years.
List of the Key Players Profiled in the Global Market for Next-Generation Sequencing:
Thermo Fisher Scientific Inc.
F. Hoffmann-La Roche Ltd
Agilent Technologies, Inc.
Global Next-generation Sequencing Market Highlights:
The Next-generation Sequencing Market report offers an in-depth analysis of the Next Generation Sequencing industry and the demand drivers by highlighting information on several aspects of the market. Prudent Markets addresses all these aspects and provides the latest scoop and detailed eye-opening study on all major & emerging business segments. In addition to this, the report sheds light on the industry developments by key players, which are contributing to the expansion of this industry. The development scope, feasibility study, Next-generation Sequencing Market concentration, and maturity analysis is elaborated in this report.
Information given in the research report pertains to different technological advancements introduced in recent years, which allows for a meticulous analysis of the industry and offers a more comprehensive understanding to the readers.
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Growing Focus on Diagnosis of Diseases Globally to Augment Growth
Lower costs of sequencing solutions have resulted in the high demand for the diagnosis of several diseases. For instance, as per a new scientific paper published in the European Journal of Human Genetics, around 300 million people globally suffer from a rare genetic disease. Companies are focusing on the introduction of various test kits such as genetic testing, prenatal testing, and cancer diagnosis. For instance, in May 2018, the Centers for Medicare & Medicaid Services (CMS) declared the National Coverage Determination to perform an NSG test to diagnose cancer. In addition, government reimbursement programs for diagnostic tests and approval of several NSG tools is expected to boost the global next-generation sequencing market growth during the forecast period.
The outbreak of covid-19 in the global market has made companies uncertain about their future scenario as the prolonged lock-down finds a serious economic slump. The latest survey on COVID-19 Outbreak-Global Next-generation Sequencing Market is conducted to provide hidden gems performance analysis. Essential growth factors and study of Basis points [BPS] have been discussed in the following report. Research Report explains a detailed overview of market dynamics, segmentation, product portfolio, business plans, and the latest development in the industry.
The negative effect of the global pandemic, COVID-19, has been felt across several economies facing unprecedented loss. Owing to the lockdown announced by the government agencies, several research labs were shut. However, a collective effort from the government and the research labs working on the virus, pharmaceutical, and healthcare units are likely to increase the demand and aid in the resumption of sequencing tools and technology.
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This report focuses on Next Generation Sequencing Global Market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa. This report categorizes the market based on manufacturers, regions, type and application. Regional analysis is another highly comprehensive part of the research and analysis study of the global market presented in the report. This section sheds light on the sales growth of different regional and country-level markets. For the historical and forecast period to 2026, it provides detailed and accurate country-wise volume analysis and region-wise market size analysis of the global market.
Based on product type, the global market for next-generation sequencing is divided into instrument & software, consumables, and services. On the basis of application, the market is divided into diagnostics and research. By its end-user, the market is divided into research institutes, healthcare facilities, diagnostic centers, pharmaceutical and biotechnological companies, and contract research organizations. Finally, based on region, the market is categorized into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
What does the Report Provide?
The global market for next-generation sequencing report provides a detailed analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies by them to introduce new products, announce partnerships, and collaboration that will further contribute to the market growth.
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North America to Remain Dominant; Presence of Major Biotech Companies to Aid Growth
North America is expected to hold the largest global next-generation sequencing market share during the forecast period. This is ascribable to factors such as the presence of supportive government policies and presence of major biotech companies and research labs. Moreover, the growing incidence of chronic disease is expected to boost the demand for the product in the region. For instance, In September 2018, the FDA approved marketing for ClonoSEQ assay, a NSG diagnostic test for the minimal residual disease (MRD), in patients suffering from acute lymphoblastic leukemia (ALL) or multiple myeloma. North America stood at USD 3.82 billion in 2020.
Asia Pacific is anticipated to hold a significant market share owing to the increasing awareness regarding well-being of reproductive health that will favor the adoption of the next-generation sequencing solutions in the region.
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Key Players to Focus on Establishing Partnerships to Intensify Competition
The market is consolidated by the presence of major companies that are striving to maintain their position by focusing on acquisitions and establishing partnerships. For instance, in June 2019, Saphetor partnered with Swift Biosciences Inc. to speed up and standardize data interpretation solutions for targeted next-generation sequencing panels. Moreover, other key players are adopting proactive strategies such as new product launches, mergers, and facility expansion to favor the market’s growth in the forthcoming years.
January 2019: PierianDx announced its partnership with Illumina to come up with informatics services such as oncology products for Illumina to support cancer diagnosis and research.
Detailed Table of Content:
Definitions and Assumptions
Overview of Next-Generation Sequencing Diagnostics Test
Regulatory Scenario – For Key Countries
New Product Launch
Startups with their Funding Overview
Key industry Developments – Mergers, Acquisitions and Partnerships
Global Next-Generation Sequencing (NGS) Market Analysis, Insights and Forecast, 2015-2026
Key Findings / Summary
Market Analysis, Insights and Forecast – By Type
Instruments & Software
Market Analysis, Insights and Forecast – By Application
Market Analysis, Insights and Forecast – By End User
Healthcare Facilities & Diagnostic Centers
Pharmaceutical & Biotechnological Companies
Contract Research Organization (CROs)
Market Analysis, Insights and Forecast – By Region
Middle East & Africa
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