Dublin, Dec. 22, 2020 (GLOBE NEWSWIRE) -- The "Next Generation Sequencing Global Market Report 2020-30: COVID 19 Growth and Change" report has been added to ResearchAndMarkets.com's offering.
Next Generation Sequencing Global Market Report 2020-30: COVID 19 Growth and Change provides the strategists, marketers and senior management with the critical information they need to assess the global next generation sequencing market.
The global next generation sequencing market is expected to decline from $7.13 billion in 2019 to $7.01 billion in 2020 at a compound annual growth rate (CAGR) of -1.78%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities. The market is then expected to recover and reach $13.02 billion in 2023 at a CAGR of 22.95%.
Major players in the next generation sequencing market are Illumina Inc., Thermo Fisher Scientific Inc., BGI Group, Agilent Technologies Inc., Qiagen N.V., Hoffmann-La Roche AG, Eurofins Scientific, Oxford Nanopore Technologies, Pacific Biosciences, and 10x Genomics.
The next generation sequencing market consists of sales of devices and equipment used in next generation sequencing and related services by entities (organizations, sole traders and partnerships) that manufacture next generation sequencing equipment. Next-generation sequencing (NGS) is the catch-all concept used to describe a variety of different advanced sequencing technologies. Such technologies allow DNA and RNA to be sequenced much faster and cheaper than traditionally used Sanger sequencing, revolutionizing the study of genomics and molecular biology.
North America was the largest region in next generation sequencing market in 2019. Asia Pacific is expected to be the fastest-growing region in the forecast period.
The technological advances are shaping the next generation sequencing market. Major companies operating in the sequencing industry are focusing on developing technologically advanced solutions for next generation sequencing. For instance, in January 2018, Illumina, Inc. announced the launch of the next-generation sequencing (NGS) system - iSeq 100 Sequencing System. It delivers exceptional data accuracy with low capital cost expanding the reach to the maximum number of labs.
The next generation sequencing market covered in this report is segmented by product into NextSeq Systems; MiniSeq Systems; NovaSeq Systems; iSeq 100 Systems; Ion PGM Systems; Ion Proton Systems; Ion GeneStudio S5 Systems; PacBio RS II Systems; others. It is also segmented by technology into sequencing by synthesis; ion semiconductor sequencing; single-molecule real-time sequencing; nanopore sequencing; other sequencing technologies, and by application into diagnostics; drug discovery; other applications.
The high cost associated with next generation sequencing technologies is a key factor hampering the growth of the next generation sequencing market. The next generation sequencing market is facing challenges as many people find it difficult to afford the test due to the high cost. Consumables used for sequencing are the costliest portion of testing (68-72% of total cost) as machinery prices are higher in instances of rare disease.
According to a review published in 2018 on economic evaluations of exome and genome sequencing, the cost of the next generation genome sequencing ranges from $1906 to $24,810 for a single test. Therefore, the high cost of next generation sequencing is anticipated to restrict market growth over the forecast period.
Key Topics Covered:
1. Executive Summary
2. Next Generation Sequencing Market Characteristics
3. Next Generation Sequencing Market Size And Growth
3.1. Global Next Generation Sequencing Historic Market, 2015 - 2019, $ Billion
3.1.1. Drivers Of The Market
3.1.2. Restraints On The Market
3.2. Global Next Generation Sequencing Forecast Market, 2019 - 2023F, 2025F, 2030F, $ Billion
3.2.1. Drivers Of The Market
3.2.2. Restraints On the Market
4. Next Generation Sequencing Market Segmentation
4.1. Global Next Generation Sequencing Market, Segmentation By Product, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
iSeq 100 Systems
Ion PGM Systems
Ion Proton Systems
Ion GeneStudio S5 Systems
PacBio RS II Systems
4.2. Global Next Generation Sequencing Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
Sequencing by Synthesis
Ion Semiconductor Sequencing
Single-molecule Real-time Sequencing
Other Sequencing Technologies
4.3. Global Next Generation Sequencing Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5. Next Generation Sequencing Market Regional And Country Analysis
5.1. Global Next Generation Sequencing Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5.2. Global Next Generation Sequencing Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
Thermo Fisher Scientific Inc
Agilent Technologies Inc.
Hoffmann-La Roche AG
Oxford Nanopore Technologies
Bio-Rad Laboratories Inc.
Long Read Solutions
454 Life Sciences Corporation (Roche Holding AG)
For more information about this report visit https://www.researchandmarkets.com/r/dr72yf
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