BLOOMINGTON, Minnesota, December 1, 2017 /PRNewswire/ --
According to a new market intelligence report by BIS Research, titled "Global Next Generation Sequencing Market- Analysis and Forecast, 2017-2024", the global next generation sequencing market was estimated at $4.14 billion in 2016 and is estimated to grow over $11.92 billion by 2024. The market is expected to grow at a compound annual growth rate of 13.61% between the years 2017 and 2024, aided by the impressive growth in the fields of Non-Invasive Prenatal Testing (NIPT), Liquid Biopsy, and Precision Medicine.
Browse 37 market Data Tables and 151 Figures spread through 275 Pages and in-depth TOC on "Global Next Generation Sequencing Market"
BIS Research Report:
The recent success of NIPT, Liquid Biopsy and their growing demand has propelled the growth of biomarker discovery field and initiated a great deal of research studies for the development of new non-invasive diagnosis methods. The present non-invasive methods, such as NIPT and Liquid biopsy, available in the market, are expected to witness a robust 20% (approximately) compound growth rate in the next seven years (2017-2023). Additionally, the aforementioned markets are perceived to be lucrative fields for investments by investors globally. For example, the NIPT test alone witnessed a 12% increase in the rate of adoption in 2016 when compared with 2015 and is expected to witness 15% increase in the rate of adoption by the end of 2017 as compared to that of 2016.
Sequencing is a necessary and an unavoidable phase in the development of diagnostic methods. This prerequisite has increased the demand for sequencing methods and has positively impacted the growth of NGS market. These diagnostic procedures, which were initially based on the Polymerase Chain Reaction (PCR) technologies, are now experiencing a shift towards the NGS technologies due to their advantages of massive parallel sequencing and high accuracy of NGS technologies. This growing demand for the non-invasive diagnostic methods and their further developments are the significant drivers impacting the growth of the global next generation sequencing market. Apart from the investments from conglomerate companies, several government organizations are contributing significantly to the research on non-invasive methods as well.
According to ManuKoushik, an analyst at BIS Research "North America is the leading contributor to the global next generation sequencing market and is noticed to be contributing more than 50% of the global market values currently. However the Asia Pacific region is expected to grow at an impressive CAGR of 17.53% during the forecast period, from 2017 to 2024. Currently, the Asia Pacific market is estimated to contribute approximately 13% of the total global market value."
- Currently the pharmaceuticals field is acknowledged to be the major contributor to the global next generation sequencing market, and is expected to grow at 11.29% CAGR in the forecast period 2017-2024.
- The commercialization of portable technologies in near future is expected to disrupt the dynamics of the market. The key players of the market are improvising their product portfolio, to handle the shift in dynamics of the market.
- Next Generation Sequencing Software segment is expected to witness a robust CAGR of 21.49% during the forecast period 2017-2024.
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This market intelligence report provides a multidimensional view of the global next generation sequencing market in terms of market size and growth potential. This research report aims at answering various aspects of the global next generation sequencing market with the help of key factors driving the market, threats that can possibly inhibit the overall market growth, and the current growth opportunities that are going to shape the future trajectory of the market expansion. The study considers the growth-share matrix model for a comprehensive study of the global next generation sequencing market and assesses the factors governing the same.
Furthermore, the competitive landscape chapter in the report explicates the competitive nature of the global market and enables the reader to get acquainted with the recent market activities, such as product launches, regulatory clearance, and certifications, partnerships, collaborations, business expansions as well as mergers and acquisitions, etc. The research report provides a comprehensive analysis of the product sales, and manufacturers and trend analysis by segments and demand analysis by geographical regions.
This report is a meticulous compilation of research on more than 50 players in the market ecosystem and draws upon insights from in-depth interviews with key opinion leaders of more than 15 leading companies, market participants and vendors. The report also profiles 19 companies including many key players, such as 10x Genomics, Agilent Technologies, Inc., BGI, bioMerieux SA, Bio-Rad Laboratories, Inc., Eurofins Scientific, F. Hoffmann-La Roche AG, GATC Biotech AG., GenapSys, Inc., GENEWIZ, Illumina, Inc., New England Biolabs, Inc., NuGEN Technologies Inc., Oxford Nanopore Technologies Limited, Pacific Biosciences of California, Inc., Partek, Inc., PerkinElmer, Inc., QIAGEN, and Thermo Fisher Scientific.
Key questions answered in the report:
- What are the major market drivers, challenges and opportunities in the global next generation sequencing market?
- How did the next generation sequencing market evolve and what is its scope in the future?
- What are the key developmental strategies which are being implemented by the key players to stand out in this market? Among these strategies which strategy is currently dominating the market?
- What is the total addressable market (TAM), segmental addressable market (SAM) and the potential market opportunity of the global next generation sequencing market?
- What is the market share of different leading segments and sub-segments of the market for the years 2017 and 2024?
- How will each segment of the global next generation sequencing market grow during the forecast period and what will be the revenue generated by each of the segments by the end of 2024?
- Who are the key players dominating the global next generation sequencing market and their respective share in the market?
- Who are the key players dominating the next generation sequencing market, in different product segments namely instruments and kits & reagents?
- What are the influencing factors that may affect the market share of the key players?
- What is the perception of investors worldwide towards the market and which type of companies are receiving significant investments?
- Who are the leading service providers of sequencing tests and what is their contribution to the market? What is the concentration of service providers worldwide?
- How has the market been segmented on the basis of technology? Which technology is leading and and what is its share in the market?
- Which geographical location will contribute to the highest sales of sequencing products and how regions have been further segmented into countries?
- Who are the key players dominating the next generation sequencing market, in different regions namely North America, Europe, and Asia Pacific and their respective share?
About BIS Research:
BIS Research (Business Intelligence and Strategy Research) is a global B2B market intelligence and advisory firm which focuses on those emerging trends in technology which are likely to disrupt the dynamics of the market.
With over 150 market research reports published annually, BIS Research focuses on high technology verticals such as 3D Printing, Advanced Materials & Chemicals, Aerospace and Defence, Automotive, Healthcare, Electronics & Semiconductors, Robotics & UAV and other emerging technologies.
Our in-depth market intelligence reports focus on the market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data and other important market parameters useful in the strategic decision making for senior management.
What distinguishes BIS Research from the rest of the players is that we don't simply provide data, but also complement it with valuable insights and actionable inputs for the success of our clients.
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