The global NGS services market size is expected to reach around USD 3 bn by 2026, and growing at a 14.1% of CAGR during the forecast time period 2019 to 2026.
The market is driven by increase in demand for better sequencing products drive the need for better NGS services.Growth of NGS technologies has transformed gene sequencing in terms of reproducibility and cost savings. This has resulted in introduction of numerous progressions in NGS technology to encourage its usage in hospitals and clinical labs. Most current novelties in this field revolve around simplifying usage of seq-technology and making it classier. These parameters have boost the uptake of NGS services across numerous end users.
Rising need for robust sequencing-based diagnostics has resulted in the beginning of new seq-technologies, ranging from high-throughput sequencers to portable units. This has stimulated the trend of clinical NGS in over the coming years. Such as, in March 2018, ARUP Laboratories and IDbyDNA, Inc. launched Explify Respiratory, an NGS test for respiratory infections, to assist physicians in screening patients with pneumonia and other respiratory illnesses.
Traditional disease testing service producers have widened their portfolio with an increasing trend of seq-based genetic tests. For instance, ARUP Laboratories integrated with the Children’s Hospital of Philadelphia (CHOP) in October 2014. The service provision for NGS-based HLA genotyping, comprise of HLA Class I, and HLA Class II and began in November 2017.
With increasing trend of high throughput sequencing within the biotech and pharma industry, there is a demand for more growths to advance the speed and convenience of high throughput seq-platforms and simplify workflows. As a result, businesses are concentrating on growth of solutions to simplify the purification and amplification of sample and starting input.
Market By Service Type
Market By Workflow
Market By End-use
Market By Geography
North America captures the largest share due to factors for instance, well-established informatics network, effective regulatory guidelines relating to usage and approval of genetic tests, and occurrence of market leaders in the region. Also, rising numeral of FDA-approved genomic tests in U.S. is expected to boost the regional market during the forthcoming years.
The APAC industry is estimated to serve as an opportunity source of revenue through 2026. Rising attention of government bodies regarding maintenance of public health and consequential funds in growth of progressive diagnostic methods is expected to drive the uptake of seq-services in the region.
Market companies are concentrating on implementing new strategies for instance regional expansion, partnerships, mergers and acquisitions, new product launches, and distribution agreements to surge their revenue share. The major players associated with the NGS Services market are GENEWIZ Germany GmbH, Illumina, Inc., Novogene Corporation, abm Inc., Veritas Genetics, Quest Diagnostics, Gene by Gene, ARUP Laboratories, BGI, and Lucigen..
The NGS services market is driven by increase in demand for better sequencing products.
According to Acumen Research and Consulting, the NGS services market value is anticipated to be worth around US$ 3 billion in 2026.
The NGS services market is anticipated to grow over 14.1% CAGR during the forecast period 2019 to 2026.
North America captures the largest share due to factors for instance, well-established informatics network, effective regulatory guidelines relating to usage and approval of genetic tests, and occurrence of market leaders in the region.
Asia Pacific is projected to grow at a fast pace during forecast period in the NGS services market.
The major players operating in the NGS Services market are GENEWIZ Germany GmbH, Illumina, Inc., Novogene Corporation, abm Inc., Veritas Genetics, Quest Diagnostics, Gene by Gene, ARUP Laboratories, BGI, and Lucigen.
The NGS services market is segmented into North America, Europe, Asia Pacific, Latin America and The Middle East & Africa (LAMEA).