Next-Generation Sequencing (NGS) Market Global Market 2020 Industry Key Players, Trends, Sales, Supply, Demand, Outlook Analysis Forecast By 2028

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Market Overview:

The global next-generation sequencing market size is expected to gain momentum by reaching USD 31,411.3 million by 2026 while exhibiting a CAGR of 22.2% between 2019 to 2026. In its report titled “Next Generation Sequencing Market, 2019-2026.”, Fortune Business Insight mentions that the market stood at USD 6,335.2 million in 2018. The rising demand for cost-effective and accurate DNA sequencing to treat genetic diseases is expected to drive the market. Moreover, the launch of several genomic projects in countries such as Qatar and the U.K with able support from the government is expected to fuel the market in upcoming years.

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Driving Factors

Growing Focus on Diagnosis of Diseases Globally to Augment Growth

Lower costs of sequencing solutions have resulted in the high demand for the diagnosis of several diseases. For instance, as per a new scientific paper published in the European Journal of Human Genetics, around 300 million people globally suffer from a rare genetic disease. Companies are focusing on the introduction of various test kits such as genetic testing, prenatal testing, and cancer diagnosis. For instance, in May 2018, the Centers for Medicare & Medicaid Services (CMS) declared the National Coverage Determination to perform an NSG test to diagnose cancer. In addition, government reimbursement programs for diagnostic tests and approval of several NSG tools is expected to boost the global next-generation sequencing market growth during the forecast period.

List of the Key Players Profiled in the Global Market for Next-Generation Sequencing:

  • Illumina, Inc.
  • Thermo Fisher Scientific Inc.
  • Hoffmann-La Roche Ltd
  • Agilent Technologies, Inc.
  • QIAGEN
  • BGI
  • PerkinElmer Inc.
  • Eurofins Scientific
  • Macrogen, Inc.
  • PierianDx

 

 

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