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A comprehensive overview of the next-generation sequencing market is recently added by UnivDatos Market Insights to its humongous database. The next-generation sequencing market report has been aggregated by collecting informative data of various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the next-generation sequencing market. The next-generation sequencing market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing market growth. Furthermore, this statistical market research repository examines and estimates the next-generation sequencing market at the global and regional levels.
Market Overview
The global next-generation sequencing market is experiencing significant growth on account of growing applications of next-generation sequencing in varied segments including vaccinology, personalized therapy, biomarker discovery, pharmaco-genomics, etc. further, the reduced cost for sequencing is also driving the market growth. For instance, as per the data obtained from genome-sequencing groups sponsored by the National Human Genome Research Institute (NHGRI), the cost of producing a high-quality 'draft' of whole human genome sequence in mid-2015 was just above USD 4,000; by late in 2015, which had then fallen below USD 1,500. Overall, the cost of producing a whole-exome sequence was probably less than USD 1,000. Further, the sequencing cost has been fallen below USD 300 in 2020.
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Furthermore, the rising government funding and initiatives to sequence their own national population’s genome are contributing to the emergence of innovative variants with improved treatment efficacy and effectiveness. For instance, the Genomics Health Futures Mission was proposed by Australian Genomics in 2018 to promote new and expanded clinical research in rare disease, cancer, and complex conditions, as well as early access to clinical trials, help in personalized treatment options, and reduce unnecessary interventions and health costs. Further, this Mission will invest $500 million over 10 years in genomic research.
COVID-19 Impact
The COVID-19 pandemic has provided tremendous research resources while also highlighting the threat of deadly epidemic-prone diseases worldwide. Over the last decade, a technical revolution has created many new capabilities for pandemic response. SARS-CoV-2 genome was quickly decoded using sequencing enabling researchers to rapidly develop diagnostic test kits and other response tools. Continuous genome sequencing aids in the tracking of the disease's dissemination and evolution. The genomes of the extreme SARS-CoV-2 can now be sequenced within hours or days of a case being detected, due to recent and advanced next-generation sequencing technology. As a result, real-time genomic sequencing has been able to warn public health responses in the event of a pandemic. For instance, COVID-19 Genomics UK Consortium (COG-UK) has assessed the effectiveness of travel restrictions by examining over 4000 SARS-CoV-2 importations over summer 2020.
Global Next-generation Sequencing Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By Product/Services, the market is primarily bifurcated into
Consumables segment dominated the by type of the global next-generation sequencing market and will row at X% CAGR to reach USD X million by the year 2027. However, services segment is expected to grow at the highest CAGR between2021-2027.
By Technology Type, the market is mainly segmented into
Amongst technology type, the SBS segment accounted for the largest share and is expected to grow at the CAGR of X% during the forecast period 2021-2027. In 2020, the sequencing segment accounted for a revenue share of almost X% owing to the easily available NGS platform based on SBS technology.
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By Application, the market is primarily studied into
In 2020, the Biomarkers & cancer segment dominated the global next-generation sequencing market with nearly X% of the market share and it is anticipated by 2027, the segment will garner USD X million of the market. However, the personalized medicine segment is also anticipated to grow at the highest CAGR during the projected timeframe.
By End-user, the market is primarily segmented into
Amongst end-user types, the academic & government research institutes segment accounted for the largest share in 2020 and is expected to grow at X% CAGR during the forecast period 2021-2027. The large share of this segment is attributed to the significant focus on the research & development activities related to NGS across the world.
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Next-generation Sequencing Market Geographical Segmentation Includes:
Based on the estimation, the North America region dominated the next-generation sequencing market with almost USD X million revenue in 2020. At the same time, the Asia-Pacific region is expected to grow remarkably with a CAGR of X% over the forecast period owing to the rising demand for NGS services in the region.
The major players targeting the market includes
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the next-generation sequencing market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
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Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the next-generation sequencing market?
• Which factors are influencing the next-generation sequencing market over the forecast period?
• What are the global challenges, threats, and risks in the next-generation sequencing market?
• Which factors are propelling and restraining the next-generation sequencing market?
• What are the demanding global regions of the next-generation sequencing market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
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Final Report will add the analysis of the impact of COVID-19 on this industry.”
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