According to the report analysis, ‘Global Next-Generation Sequencing (NGS) Market 2018-2024’ states that there are several key players which are presently functioning in this market more actively for leading the fastest market growth and attaining the highest market share across the globe in the short span of time by adopting the efficient strategies and policies of doing work and improving the specification of this which further being able to deliver beneficial information with the excess of new applications to the researchers for study the biological systems includes Illumina, Inc., Thermo Fisher Scientific, Inc., Pacific Biosciences of California, Oxford Nanopore Technologies Limited, Beijing Genomics Institute, Agilent Technologies, Inc., Qiagen N.V., Eurofins Scientific, F. Hoffmann-La Roche, DNASTAR, Inc., Biomatters Limited and other predominate and niche players. Moreover, the key players of this market are investing the huge amount of money in the research and development programs for developing the applications of this which further proved to be profitable for generating the high amount of revenue and leading the market growth more significantly in the short span of time with the high amount of market share around the globe.
The next-generation sequencing is abbreviated by NGS and is the enormously parallel sequencing technology that has developed the biological sciences. With its ultra-high throughput, speed and scalability, NGS allows the researcher to function a huge change of the applications and study the biological systems at a level never before possible. Furthermore, the key players of this market are playing an important role by doing effective developments and adoption of techniques of doing work while, the significant development in the technology is also taken place which provide better results to the researchers and proved to be beneficial for leading the fastest market growth in the coming years.
The Global Next-Generation Sequencing market is projected to observe a significant CAGR of 18.6% during the forecast period of 2018-2024. Whereas, with the effective developments in the specification and working of the key players the market is spread across the globe more positively which proficiently includes North America, Europe, Asia Pacific, and Rest of the World (ROW). Meanwhile, the North America is the prominent shareholder in the global next-generation sequencing market, followed by Europe. Asia-Pacific region is anticipated to increase at high CAGR during the forecasted period owing to increasing funding for healthcare research, developing the patient pool, and rising healthcare expenditure. The markets in developing counties such as, India, China and Brazil are anticipated to rise at a rapid pace for next five years.
Presently, the next-generation sequencing market is associated with few key companies owing to the contribution of complicated technologies and the prerequisite of high capital investment. Sequencing based test may soon be viewed as the gold standard in the field of molecular diagnostics. The upsurge in the applications of NGS has made many biotechnological firms and diagnostic laboratories to invest profoundly in this field by introducing new products or attaining the other smaller firms or by partnership. Therefore, in the near future, it is expected that the market of next generation sequencing will increase across the globe more significantly over the recent few years.
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Ankur Gupta, Head Marketing & Communications