LONDON–(BUSINESS WIRE)–#Biotechnology–The global next generation sequencing market size is poised to grow by USD 5.67 billion during 2019-2023, according to a new report by Technavio, progressing at a CAGR of over 19% during the forecast period.
Read the 152-page research report with TOC on “Next Generation Sequencing Market Analysis Report by product (consumables and equipment), and geography (EMEA, APAC, and the Americas) 2019 – 2023” at:
The market is driven by growing demand for early diagnosis of genetic disorders. In addition, the availability of a wide range of NGS products is expected to further boost the growth of the next generation sequencing market.
The need to prevent physical disabilities and health conditions in newborns is increasing the demand for early diagnosis among expecting parents. Pre-implantation diagnostic tests facilitate the determination of genetic disorders, such as cystic fibrosis, congenital hearing loss, and thalassemia. Thus, parents are increasingly opting for preimplantation testing, which increases the adoption of NGS techniques. Sequencing technology allows for a simple PGS workflow with flexible sample throughput for consistent and quick aneuploidy detection. Thus, the growing demand for early diagnosis of genetic disorders will drive the growth of the next generation sequencing market during the forecast period.
The market has witnessed the introduction of a wide range of products by vendors over the last few years. Vendors are offering products with improved features and specific manufacturing standards to create a mark in the market. Companies are introducing semiconductor-based NGS systems, that enable simple targeted sequencing workflows. These systems are simple to use and offer scalability and flexibility owing to its cartridge-based reagents. Such product offerings help in attracting prospective consumers, which will lead to increased sales, thereby driving market growth.
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The report includes detailed profiles of the leading companies & prominent vendors of the market:
- Bio-Rad Laboratories Inc.
- Eurofins GSC Lux Sarl
- F. Hoffmann-La Roche Ltd.
- Illumina Inc.
- Invitae Corp.
Market Segmentation by Product:
The next generation sequencing market can be broadly categorized into the following segments:
Key Regions for the Next Generation Sequencing Market:
Featuring a breakdown of region-wise market shares until 2019.
- North America
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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