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We expect the global next-generation sequencing (NGS) market to exhibit a CAGR of 19.5% during 2021-2026.
Sudden outbreak of the COVID-19 pandemic has led to an increasing demand for next generation sequencing process as it assists in identifying the mutations and transmission routes in the body that is causing the spread of the virus.
The increasing prevalence of cancer, along with various technological advancements in the field of medical sciences represent some of the factors catalyzing the global next-generation sequencing (NGS) market.
Based on the sequencing type, the global next-generation sequencing (NGS) market can be segmented into whole genome sequencing, targeted resequencing, whole exome sequencing, RNA sequencing, CHIP sequencing, De Novo Sequencing, Methyl sequencing, and others, where targeted resequencing holds the majority of the market share.
Based on the product type, the global next-generation sequencing (NGS) market has been segregated into instruments, reagents and consumables, and software and services. Among these, reagents and consumables currently represent the largest segment.
Based on the technology, the global next-generation sequencing (NGS) market can be categorized into sequencing by synthesis, ion semiconductor sequencing, single-molecule real-time sequencing, nanopore sequencing, and others. Currently, sequencing by synthesis exhibits a clear dominance in the market.
Based on the end-user, the global next-generation sequencing (NGS) market has been divided into academic institutes & research centers, hospitals & clinics, pharmaceutical & biotechnology companies, and others. Amongst these, academic institutes & research centers currently account for the majority of the total market share.
Based on the application, the global next-generation sequencing (NGS) market can be bifurcated into biomarker and cancer, drug discovery and personalized medicine, genetic screening, diagnostics, agriculture and animal research and others. Currently, biomarker and cancer represent the largest segment.
On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global next-generation sequencing (NGS) market include Agilent Technologies, Becton Dickinson and Company, 10x Genomics, BGI Group, Eurofins Scientific, F. Hoffmann-La Roche AG, Illumina Inc., Genewiz, Macrogen, Oxford Nanopore Technologies, Pacific Biosciences, PerkinElmer, Thermo Fisher Scientific, Qiagen N.V., GenapSys Inc., etc.
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