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Next Generation Sequencing Market Statistics 2020 | Trend & Growth Forecast To 2027

The Next generation sequencing market is estimated to procure steady growth driven by robust application of NGS tools in the medical research field and clinical diagnosis. Growing usage of NGS techniques by biopharmaceutical and pharmaceutical firms along with prevalence of chronic illnesses like diabetes and cancer is giving a boost to technology demand. These firms are investing in R&D activities to create alternative solutions and make personalized medicines for different diseases. <br>Next generation sequencing methods are used for studying genomes and identifying problems caused in genes due to disease development. Businesses have created NGS library preparation kits automated data analysis tools, and sequencing instruments for the studying of genes. Companies operating in the NGS market are working on new technologies and products. For example, in 2019, Agilent Technologies announced a next generation sequencing library preparation system made to run complex DNA sequencing assays easily with a button press. <br>Based on such innovations, Global Market Insights, Inc., reports that the Next generation sequencing market is projected to surpass USD 22 billion by 2027.<br><br>Get sample copy of this research report @ https://www.gminsights.com/request-sample/detail/3247<br>

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Next Generation Sequencing Market Statistics 2020 | Trend & Growth Forecast To 2027

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  1. Next Generation Sequencing Market is Projected to grow at a CAGR 21.2% by 2027

  2. Key Insights from Next Generation Sequencing Market: • The Next generation sequencing market is estimated to procure steady growth driven by robust application of NGS tools in the medical research field and clinical diagnosis. Growing usage of NGS techniques by biopharmaceutical and pharmaceutical firms along with prevalence of chronic illnesses like diabetes and cancer is giving a boost to technology demand. These firms are investing in R&D activities to create alternative solutions and make personalized medicines for different diseases. • Next generation sequencing methods are used for studying genomes and identifying problems caused in genes due to disease development. Businesses have created NGS library preparation kits automated data analysis tools, and sequencing instruments for the studying of genes. Companies operating in the NGS market are working on new technologies and products. For example, in 2019, Agilent Technologies announced a next generation sequencing library preparation system made to run complex DNA sequencing assays easily with a button press. • In terms of product type, the next generation sequence services segment is likely to register a CAGR of around 20% over the forecast period. These services are extensively available in areas such as RNA sequencing, cancer analysis services, metagenomics solutions, whole genome sequencing, and oligo synthesis.

  3. Continued… • Based on type, the target sequencing section is anticipated to register around USD 700 million in 2020 owing to rising demand for personalized medicines. The targeted sequencing type correctly measures individual’s gene pool which can be used for personalized medicines. With the variation of genetic makeup from individual to individual, the concentration of drugs meant for consumption also varies. • With respect to technology, sequencing by synthesis segment is likely to witness approximately 20.6% CAGR in the upcoming years. Sequencing by synthesis enables accurate and quick DNA analysis, and is a cost-effective option. The whole human genome can be sequenced in a few hours given to the availability of technologically advanced equipment. • In terms of end-use, the demand from academic institutes and research centers accounted for above USD 2.5 billion in 2020. This can be credited to growing research efforts on genomic aspects with the use of NGS methods. Research institutes receive funds from governments to promote advancements in drug discovery processes. In this way, academic institutes and research laboratories are well-equipped with modern NGS devices.

  4. Latest Research Report On Next Generation Sequencing Market@ https://www.gminsights.com/industry-analysis/next-generation-sequencing-market Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/3247

  5. Major Companies in Next Generation Sequencing Market: • 10X Genomics • Agilent Technologies, Inc. • BGI • Bio-Rad Laboratories • F Hoffmann-La Roche • GenapSys Inc. • Illumina, Inc. • NanoString Technologies, Inc. • Oxford Nanopore Technologies • Pacific Biosciences of California, Inc. • PerkinElmer Inc. • Qiagen • Thermo Fisher Scientific

  6. Industry Coverage

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