The Global Next-Generation Sequencing Market is forecast to exhibit a remarkable CAGR as the next-generation sequencing platform allows effective sequencing of millions of DNA molecules. Fortune Business Insights in a new report, titled “Next-Generation Sequencing: Global Market Analysis, Insights and Forecast, 2019-2026” offers a detailed analysis of the competitive landscape and market dynamics.
As per the report, the global Next-Generation Sequencing Market is expected to rise at a ferocious CAGR of 22.2% between 2018 and 2026. In 2018, the market was worth US$ 6,335.2 Mn and the Next-Generation Sequencing Market will be a howling success as it is projected to reach US$ 31,411.3 Mn by 2026. The demand for next-generation sequencing methodologies is increasing rapidly across several applications such as diagnostics, clinical research among others.
“Some of the Main Key Players Covered in the Next-Generation Sequencing Market Report”
- Thermo Fisher Scientific
- Agilent Technologies
- PerkinElmer Inc.
- Eurofins Scientific
- Macrogen, Inc.
Adapative Technologies developed a next-generation sequencing diagnostic test called ClonoSEQ for patients suffering from acute lymphoblastic leukemia or ALL and minimal residual disease or MRD. The test received FDA approval in September 2018, which in turn, contributes to the growth of the market in North America.
Browse Complete Report Details @ https://www.fortunebusinessinsights.com/industry-reports/next-generation-sequencing-ngs-market-101000
“Key segmentation of Next-Generation Sequencing Market”
- Instruments & Software
By End User
- Research Institutes
- Healthcare Facilities & Diagnostic Centers
- Pharmaceutical & Biotechnological Companies
- Contract Research Organization (CROs)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
“Demand for Next-Generation Sequencing Market to Rising at a High Pace”
Next-generation sequencing products encompass instruments, consumables, and software. According to the findings from the report, the next-generation sequencing product segment is anticipated to lead the market over the forecast period. This is ascribable to some primary factors such as new product launches, high usage of consumables, and easy availability. Apart from next-generation sequencing products, next-generation sequencing services are expected to grow at a higher CAGR during the forecast period.
The need for novel platforms regarding advancements in bioinformatics and fast DNA data interpretation are paving the way for start-ups, especially for next-generation sequencing services. With the introduction of next-generation sequencing, the cost of sequencing has reduced over the years.
“Saphetor SA and Swift Biosciences Inc.’s Partnership Aims to Target Next-Generation Sequencing Panels”
Strategic partnerships and new product launches are increasingly adopted by companies as these help them to maintain their position in the market. Some of the industry developments are mentioned below:
- PierianDx joined hands with Illumina, Inc. in January 2019, to fulfil the needs of customers by offering informatics services for Illumina’s oncology products. This will further support cancer diagnostics and research.
- Saphetor SA partners with Swift Biosciences Inc. in June 2019. The partnership aims at standardizing and accelerating data interpretation solutions for next-generation sequencing panels.
- Agilent Technologies, Inc. announces the launch of a next-generation sequencing solution called Agilent OnePGT in June 2018. This solution aims at offering Preimplantation Genetic Testing (PGT).
Companies such as Illumina, Inc., Thermo Fisher Scientific Inc., and F. Hoffmann-La Roche Ltd are likely to lead in the global next-generation sequencing market. This is mainly on account of their strong geographical presence and diversified product portfolio. Moreover, Illumina was leading in the global market owing to its rising product sales. New product launches also helped the company to strengthen its market position.
More Trending Topics from Fortune Business Insights: