Next-generation Sequencing (NGS) Market worth $24.2 billion by 2026 - Exclusive Report by MarketsandMarkets™

News provided by

Apr 20, 2021, 09:30 ET

CHICAGO, April 20, 2021 /PRNewswire/ -- According to the new market research report "Next-generation Sequencing (NGS) Market by Product & Service (Consumables, Platforms, Services, Bioinformatics), Technology (SBS, SMRT), Application (Diagnostic, Drug Discovery, Agriculture), End User (Pharma, Biotech, Academic) - Global Forecast to 2026", published by MarketsandMarkets™, the global NGS Market is projected to reach USD 24.2 billion by 2026 from USD 10.3 billion in 2021, at a CAGR of 18.7% during the forecast period.

Browse in-depth TOC on "Next-generation Sequencing (NGS) Market"

393 – Tables
42 – Figures
392 – Pages

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=546

The Advancements in NGS platforms, declining costs of genome sequencing and growing incidence of cancer, and increasing applications of NGS in cancer research are the key factors supporting the growth of the market. However, the end-user budget constraints in developing countries is expected to hinder the overall growth rate.

Consumables accounted for the largest share of next-generation sequencing market

The NGS Market by product & services is categorized into presequencing products & services, NGS platforms, NGS consumables, services for NGS platforms, sequencing services, and bioinformatics. NGS consumables dominated the market in 2020. The large share of this segment can be attributed to growing number of sequencing procedures and launch of easy-to-use consumables. Sequencing services are expected to register the highest CAGR during the forecast period due to expanding NGS services portfolio of companies and increasing adoption of advanced NGS platforms by service providers.

Sequencing by synthesis accounted for the largest share of next-generation sequencing market

Based on technology, the next-generation sequencing (NGS) market is segmented into sequencing by synthesis, ion semiconductor sequencing, nanopore sequencing, single-molecule real-time sequencing, and other sequencing technologies. Sequencing by synthesis segment dominated the market in 2020 owing to an increase in availability of NGS platforms based on sequencing by synthesis technology.

Diagnostics segment accounted for the largest share of next-generation sequencing market

On the basis of application, the next-generation sequencing (NGS) market is categorized into diagnostics, drug discovery, agricultural & animal research, and other applications. The diagnostics segment is further categorized into cancer diagnostics, infectious disease diagnostics, reproductive health diagnostics, and other diagnostic applications. The diagnostics application segment dominated the market in 2020. The growth of this segment is attributed to the increasing focus of key market players on developing NGS-based products & services for cancer and noninvasive prenatal testing (NIPT).

The academic institutes & research center is the fastest-growing end user segment of the next-generation sequencing market

Based on end users, the NGS Market is segmented into academic institutes & research centers, hospitals & clinics, pharmaceutical & biotechnology companies, and other end users. The academic institutes & research centers segment held largest market share in 2020, owing to growing number of collaborations between NGS market players and academic & research institutes.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=546

North America accounted for the largest share of the next-generation sequencing market

The next-generation sequencing (NGS) market is segmented into North America, Europe, the Asia Pacific (APAC), Latin America (LATAM), and the Middle East and Africa (MEA). In 2020, North America accounted for the largest share of the global market, followed by Europe. This market is primarily driven by increasing applications of NGS in diagnostics & genomics research and availability of research funding.

The prominent players operating in the next-generation sequencing market are Illumina (US), Thermo Fisher Scientific (US), PerkinElmer (US), BGI Group (China), and Agilent Technologies (US).

Speak to Analyst: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=546

Browse Adjacent Markets: Biotechnology Market Research Reports & Consulting

Browse Related Reports:

Genomics Market by Product & Service (System & Software, Consumables, Services), Technology (Sequencing, PCR), Application (Drug Discovery & Development, Diagnostic, Agriculture), End User (Hospital & Clinics, Research Centers) – Global Forecast to 2025

https://www.marketsandmarkets.com/Market-Reports/genomics-market-613.html

NGS-Based RNA-Sequencing Market by Product & Services (Sample Preparation, Platforms & Consumables, Services, Data Analysis), Technology (SBS, SMRT, Nanopore), Application (De Novo, Epigenetics, small RNA), End-User, Region - Global Forecast to 2024

https://www.marketsandmarkets.com/Market-Reports/ngs-based-rna-seq-market-102977816.html

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:

Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/next-generation-sequencing-ngs-technologies-market.asp
Visit Our Web Site: https://www.marketsandmarkets.com
Content Source: https://www.marketsandmarkets.com/PressReleases/ngs-technologies.asp