Meticulous Research®– leading global market research company published a research report titled “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.”
The field of genomics has surpassed expectations over the past three decades due to massive changes in technology that allowed researchers to interrogate larger pieces of the human genome. The NGS technology has potential to become an ultimate genotyping platform for human identification. The capability of NGS led its application as forensic markers such as short tandem repeats (STR), mitochondrial and Y-chromosome haplotypes. Growing genomics research in academic and research institutes and outsourcing of genome testing in biopharmaceutical & biotechnology industry to drive the adoption of NGS services, thus propelling the NGS services market.
According to the research report published, the top companies in NGS Services Market have new service launches, acquisitions, collaborations, partnerships, and also have expansions taken place in the NGS services space.
According to this latest publication from Meticulous Research®, the global NGS services market is expected to grow at a CAGR of 20.5% from 2019 to reach $13.1 billion by 2025. The growth in NGS services market is mainly attributed to the plummeting cost of sequencing, technological advancements in NGS, and increase in genome mapping programs across the globe. In addition, increasing applications of NGS in cancer and agrigenomics research, and analysis of complex sequencing data provides further revenue growth opportunities for the various stakeholders in this market. However, lack of skilled professionals for efficient NGS sample preparation and analysis, and high cost of sequencing infrastructure- are likely to hinder the market growth.
The global NGS services market study presents historical market data in terms of values (2017 and 2018), estimated current data (2019), and forecasts for 2025-by service type (targeted sequencing, RNA sequencing, exome sequencing, De Novosequencing, ChIP-sequencing, whole genome sequencing, methyl sequencing, and other services), technology (sequencing by synthesis, ion semiconductor, single molecule real time sequencing, nanopore sequencing, and true single molecule sequencing), application (diagnostics, drug discovery, biomarker discovery, agriculture and animal research, and other applications), end user (hospitals & clinics, pharmaceutical & biotechnology industry, academic & research institutes, and other end users), and geography. The study also evaluates industry competitors and analyzes the market at regional and country level.
Based on service type, targeted sequencing services segment is estimated to command the largest share of the overall NGS services market in 2019. The high share of targeted sequencing is attributed to its ability to isolate and sequence fragment of genes or region and increasing adoption of targeted sequencing in biomarker research.
Based on technology, sequencing by synthesis segment is estimated to command the largest share of the overall NGS services market in 2019. The large share of this segment is attributed to its high accuracy in DNA sequencing, highest yield of error-free throughput, and base call value of above Q30 as compared to other technologies in this market. However, single molecule real time (SMRT) sequencing technology is expected to grow at the fastest CAGR during the forecast period, owing to its rising adoption for understanding kinetic information in various areas of research, including genomics, transcriptomics, and epigenetics.
Based on application, the diagnostics segment is estimated to hold the largest share of the overall NGS services market in 2019. The large share of the diagnostics segment is attributed to the significant use of NGS services for the treatment of cancer patients, globally and improvements in NGS-based cancer screening and Non-Invasive Prenatal Tests (NIPT).
This research report analyzes major geographies and provides comprehensive analysis for North America (U.S., Canada), Europe (Germany, France, U.K., Italy, Spain, and Rest of Europe), Asia-Pacific (Japan, China, India, and Rest of Asia-Pacific), Latin America, and Middle East & Africa. North America commanded the largest share of the global NGS services market, closely followed by the Europe, and Asia Pacific. However, Asia Pacific region is slated to register the fastest CAGR during the forecast period. The growth in this region is primarily attributed to accelerated economic growth of countries in the region; growing incidence of infectious and non-communicable diseases with aging population; various government initiatives to promote genomic research to understand complex biological processes and genetic mutations attributed to life threatening diseases; increasing investments by the major players; availability of research funding; developing healthcare infrastructures; and growing outsourcing activities in the region.
Here are the top 10 NGS services companies leading in a market
The global NGS services market is fragmented with the presence of many regional and local players. The key players operating in the global NGS services market are 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.) among others.
Key questions answered in the report-
Increase in genome mapping program in NGS services will propel the NGS services market
- How do the increasing genome mapping programs drive the growth of NGS services market?
- How government initiatives and investment in genome mapping programs bolstering the NGS services market in developing and developed regions.
Targeted sequencing accounted for the largest share of the NGS services market
- What factors are contributing to the frequent usage of targeted sequencing among various services?
- How does the adoption of targeted sequencing differ from other services?
The Asia-Pacific NGS services market favors both larger and local manufacturers that compete in multiple segments
- Whoare the top competitors in this market and what strategies do they employ to gain shares?
- What factors are driving growth and which market segments have the most potential for revenue expansion over the forecast period?
- What strategies should new companies look to enter this market use to compete effectively?
- What are the major drivers, restraints, challenges, and opportunities, in the global NGS services market?
- Who are the major players in various countries and what share of the global market do they hold?
- What are the geographical trends and high growth regions/countries?
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