FREMONT, California, Aug. 28, 2019 /PRNewswire/ -- According to a new market intelligence report by BIS Research titled "Global NGS-Based Monitoring and Diagnostic Test Market- Analysis and Forecast, 2018-2028", the global NGS-based monitoring and diagnostic test market was valued at $3.35 billion in 2018 and is anticipated to grow over $18.03 billion by 2028. The market is projected to grow at a CAGR of 18.08%, during the forecast period from 2019 to 2028. This growth of the market is aided primarily by the impressive development in the underlying manufacturing market.
Browse 03 Market Data Tables and 166 Figures spread through 233 Pages and in-depth TOC on "Global NGS Based Monitoring and Diagnostic Test Market".
With the completion of the Human Genome Project (HGP), a new wave of technologies, called next-generation sequencing (NGS) entered into the market. NGS has fundamentally changed genomics research and enabled the scientists to research extensively on the gene variants to specific diseases, along with aiding the development of targeted therapeutics depending on the genetic profile of an individual. The completion of the project, subsequently, created platform for the development of precision medicines.
One of the revolutionary breakthroughs, which NGS has resulted in, is precision medicine. Precision medicine involves a detailed study of patient-centric information to diagnose and characterize the diseases, resulting in target-based treatment of diseases. This treatment approach based on biomarker study is perceived to be promising in driving a paradigm shift in the healthcare industry, facilitating elimination of the uncertainty pertaining to the trial-and-error method of medications and certainly eliminating unnecessary healthcare spending.
Therefore, precision medicine has been receiving considerable acceptance in the medical community. Since sequencing is a primitive pivotal step involved in biomarker study and in the field of genetics, the development of the next-generation sequencing technologies played a crucial role in the evolution of precision medicine.
BIS Research Report - https://bisresearch.com/industry-report/ngs-based-monitoring-diagnostic-test-market.html
According to Nitish Singh, Lead Analyst at BIS Research, "North America is the leading contributor in the NGS-based monitoring and diagnostic test market and contributed approximately 41.87% to the global market value in 2018. This region is anticipated to grow at a significant CAGR during the forecast period 2019-2028 and continue dominating the global market in 2028 as well. However, the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period from 2019-2028. The Europe region also contributed a significant share of 27.83% to the global market in 2018.
- Oncology is expected to witness a robust CAGR during the forecast period 2019-2028. However, the NGS-based monitoring and diagnostic test market for rare disease diagnostics is anticipated to witness the fastest growth during the forecast period 2019-2028.
- Thermo Fisher Scientific Inc. is currently the largest shareholder in the global NGS based monitoring and diagnostic test market. This market dominance is attributed to the company's presence within the market through its expansive product portfolio, led by dedicated products.
This market intelligence report provides a multi-dimensional view of the global-NGS based monitoring and diagnostic test market in terms of market size and growth potential. This research report aims at answering various aspects of the global NGS-based monitoring and diagnostic test market with the help of key factors driving the market, restraints that can possibly inhibit the overall growth of the market, and the current growth opportunities that are going to shape the future trajectory of the market expansion.
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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 and approvals, partnerships, collaborations, business expansions, as well as mergers and acquisitions. The research report provides a comprehensive analysis of the product sales, manufacturers, service providers, and trend analysis by segment, and growth share analysis by geographical region. Additionally, the report provides a comprehensive attractive analysis and opportunity analysis for the entire NGS-based monitoring and diagnostic test market for 2018 and 2028.
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 the key opinion leaders of more than 15 leading companies, market participants, and vendors. The report also comprises 17 detailed company profiles including several key players, such as Agilent Technologies, Inc., Ancestry.com LLC, ArcherDX, Inc., Beijing Genomics Institute, Cancer Genetics, Inc., Centogene AG, F. Hoffmann-La Roche Ltd, GenePath DX, illumine Inc., Laboratory Corporation of America Holdings, Myriad Genetics, Inc., QIAGEN N.V., Quest Diagnostics Incorporated, Siemens Healthineers, Inc., and Thermo Fisher Scientific Inc.
Key Questions Answered in the Report
- What are the major market drivers, challenges, and opportunities present in the global NGS-based monitoring and diagnostic test market?
- What are the underlying structures resulting in the emerging trends within the global NGS-based monitoring and diagnostic test market?
- What are the key developmental strategies, which are currently being implemented by the major players in order to sustain in the competitive market?
- What is the estimated revenue to be generated by different segments of the global NGS-based monitoring and diagnostic test market:
- on the basis of application, including reproductive health, oncology, rare disease diagnostic, cardiovascular, and other applications, during the forecast period, 2019-2028?
- on the basis of type, including commercial assays/tests, laboratory developed tests, direct to consumer test, pre-commercial tests, by the end of 2028?
- on the basis of method, including single read sequencing, whole exome sequencing, whole genome sequencing, and other sequencing methods, by the end of 2028?
- on the basis of end user segment, including out-patient clinics/general practitioners, diagnostic centers, hospitals, and other end users, by the end of 2028?
- on the basis of regional segment, including North America, Europe, Asia-Pacific, Latin America, and Rest-of-the-World (RoW) by the end of 2028?
- Which are the leading players with significant offerings to the global NGS-based monitoring and diagnostic test market? What is the current market dominance for each of these leading players?
- What compound growth rate is expected to be witnessed by the leading players in the market during the forecast period 2019-2028?
About BIS Research:
BIS Research is a global B2B market intelligence and advisory firm focusing on those emerging technological trends, 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 and Chemicals, Aerospace and Defense, Automotive, Healthcare, Electronics and Semiconductors, Robotics and UAV, and other emerging technologies.
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