Next-generation sequencing (NGS) is a modern technology that has the capability to perform parallel decoding of RNA or DNA fragment that is based on single-molecule sequencing or sequencing-by-synthesis principles. It generates a massive amount of data that can be analyzed with the help of dedicated bioinformatics tools. Next-generation sequencing platforms can be utilized for monitoring, identifying, detecting, and discovering living organisms. With the rapid development and widespread applications of NGS technologies, it is within reach to use genome sequence information to help in the discoveries that decode life mysteries, detect pathogens, make crops better, and improve overall life qualities.
NGS plays a crucial role in clinical diagnostics by directing the focus on free-circulating DNA for monitoring the development of tumors during the treatment of patients. In addition to this, next-generation sequencing can be used as a powerful tool for mapping microbial populations or detecting pathogenic microbes. Furthermore, NGS also finds application in the agricultural sector where it is used for genetic selection to improve the crop. Growing awareness about the next-generation sequencing, rising investments for research activities, and reduction in the price of NGS platforms creating a positive environment for the global NGS market.
- Next-generation sequencing has effectively replaced traditional genomics methods and also simplified the study of nucleotides for future use. In addition to this, the introduction of genome mapping systems is predicted to emerge as the major factor fueling growth for the next-generation sequencing market in years to come.
- Technological advancements in the field of the healthcare industry are taking place at a rapid pace and driving the faster development of personalized medicine. NGS finds a huge number of applications in personalized medicine. Thus, increasing demand for personalized medicine creating new avenues for the application of NGS.
- The diagnostics segment from the application category contributed the largest revenue share in the next-generation sequencing market. This remarkable growth of the segment can be attributed to rising cases of cancer across the globe, increasing focus of promising market players on product innovations, and favorable reimbursement policies in developed countries.
- Academic institutes & research centers under from end-users category dominated the global market. Increasing efforts to develop cost-effective NGS-based testing services and related products along with major partnerships between global market players and research institutes are supporting the growth of the segment.
- Next-generation sequencing market led by North America followed by Europe region in terms of largest market share. The increasing volume of diagnostic and genomics research activities related to NGS technology is responsible for the rise in the exponential market growth in the region.
Leading Companies in Next Generation Sequencing Market
The global market for next-generation sequencing is highly fragmented and competitive due to the dominance of few leading players. Agreements, collaborations, mergers, and partnerships among various companies and health centers are some of the key market strategies adopted by market participants to strengthen their foothold in the market. Leading companies working in the global next-generation sequencing market include Beijing Genomics Institute, Biomatters Ltd., Genomatix GmbH, Thermo Fisher Scientific, Inc., New England Biolabs, Inc., Agilent Technologies, Inc., Pacific Biosciences of California, Inc., Myriad Genetics, Inc., Illumina, Inc., Bio-Rad Laboratories, Inc., Eurofins Scientific, etc. These prominent market players collaborating with clinical research agencies to work on the pathogenesis of specific diseases with the help of the NGS platforms.
Deep-dive Insights on Next Generation Sequencing (NGS) Market by Polaris Market Research: https://www.polarismarketresearch.com/industry-analysis/next-generation-sequencing-ngs-market