DUBLIN--(BUSINESS WIRE)--The "Next Generation Sequencing (NGS) Services Market - Global Opportunity Analysis And Industry Forecast (2018-2023)" report has been added to ResearchAndMarkets.com's offering.
Global NGS services market is expected to reach USD 2,921.4 million by 2023, supported by a CAGR of 20.1% during the forecast period of 2018 to 2023.
The global NGS services market is mainly driven by the factors such as plummeting cost of sequencing, growing need of skilled professionals for efficient NGS sample preparation and analysis, technological advancements in NGS, increase in genome mapping programs, and high cost of sequencing infrastructure. In addition, increasing applications in cancer and agrigenomics research and need for analysis of complex sequencing data provides significant opportunities for NGS services providers. However, installation of in-house sequencing facilities in hospitals and universities may hamper the growth of this market to some extent.
The global NGS services market is mainly segmented by service type (targeted sequencing, RNA sequencing, exome sequencing, de novo sequencing, ChIP-sequencing, whole genome sequencing, methyl sequencing, and other services), by technology (sequencing by synthesis, ion semiconductor sequencing, single molecule real time sequencing, nanopore sequencing, true single molecule sequencing), by application (diagnostics, drug discovery, biomarker discovery, agriculture & animal research, and other applications), by end user (academic and research institutes, pharmaceuticals &biotechnology industry, hospitals & clinics and other end user), and by geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa).
Geographically, the global NGS services market is segmented into five major regions, namely, North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa with a further analysis of major countries in these regions. North America accounted for the major share in the global NGS services market in 2017, followed by Europe and Asia-Pacific.
The major share of the North American region is mainly attributed to the increasing high burden of chronic and infectious diseases, increasing R&D expenditure, and various favorable government initiatives. In addition, the presence of many genomic services providers in this region further propels the growth of this market. On the other hand, Asia-Pacific region is projected to grow at the highest CAGR during the forecast period, due to increasing population, rising rate of diseases, growing outsourcing of research activities by the global players in this region, and various government initiatives for the genomic research for understanding the complex biological process and genetic mutation present in life threatening diseases.
The geographic analysis provides detailed insights on the key trends of the industry in the listed regions & countries, identifying the demographic & economic impact, government & private investments, market opportunities and forecast, and regulatory scenario. The geographic analysis section also comments on the key market players shaping the growth of the industry in the respective countries.
Scope of the Report
Market by Service Type
- Targeted Sequencing
- RNA Sequencing
- Exome Sequencing
- De Novo Sequencing
- Whole Genome Sequencing
- Methyl Sequencing
- Other Services
Market by Technology
- Sequencing by Synthesis (SBS)
- Ion Semiconductor Sequencing (IOS)
- Single Molecule Real Time Sequencing (SMRT)
- Nanopore Sequencing
- True Single Molecule Sequencing (tSMS)
Market by Application
- Drug Discovery
- Biomarker Discovery
- Agriculture & Animal Research
- Other Applications
Market by End User
- Academic& Research Institutes
- Pharmaceuticals & Biotechnology Industry
- Hospitals & Clinics
- Other End Users
Market by Geography
- Beijing Genomics Institute (BGI)
- CD Genomics
- DNA Link, Inc.
- Eurofins Scientific SE
- GATC Biotech AG
- GENEWIZ, Inc.
- Genotypic Technology Pvt. Ltd.
- Illumina, Inc.
- LGC Limited
- Macrogen, Inc.
- Novogene Corporation
- Otogenetics Corporation
- PerkinElmer, Inc.
- Qiagen N.V.
- SciGenom Labs Pvt. Ltd
- SeqLL, LLC
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