Growing Number of Cancer Incidences is Escalating the Demand of Next-Generation Sequencing Globally

The demand for NGS-based diagnostics is witnessing an uptick on account of rising GDP per capita, household disposable income leading to the raised standard of living, and sedentary lifestyle. As a result, there is an increase in incidences of cancer and other age-related diseases among the rapidly growing geriatric population all over the world. Thereby, augmenting the growth of the next-generation sequencing market all over the world. For instance, worldwide, an estimated 19.3 million new cancer cases (18.1 million excluding nonmelanoma skin cancer) and almost 10 million cancer deaths (9.9 million excluding nonmelanoma skin cancer) occurred in 2020. Furthermore, rare diseases currently affect 3.5%-5.9% of the worldwide population.

Furthermore, the large-scale sequencing projects in many countries largely supported by government and private organizations are also propelling the growth of the market across the globe. For example, the 100,000 genomics project was established to sequence 100,000 genomes from around 85,000 NHS patients affected by a rare disease, or cancer in the UK. Recruitment of participants to this project was completed in 2018, with the 100,000th sequence achieved in December 2018.

Download Free Sample of this Report - https://univdatos.com/get-a-free-sample-form-php/?product_id=5429 ?

Genome sequencing is a widely used method to understand the evolution and spread of coronavirus across the globe. As of March 16, 2021, there have been almost 121 million cases of COVID-19 worldwide. The disease has impacted more than 210 countries and territories, with the United States confirming around one-fifth of all global cases. Therefore, it has become imperative to decipher the transmission chain of the virus which in turn will help in controlling the spread of this virus. Owing to these facts, many government agencies and public health institutions have geared up to fight against this virus with the help of sequencing. For instance, Recently, in March 2020, the COVID-19 genomics U.K. consortium (COG-U.K.) was performed to study the coronavirus genome by using whole-genome sequencing.

According to UnivDatos Market Insights (UMI)’ research report “Global Next-generation Sequencing Market Analysis, 2020”, the next-generation sequencing market is projected to grow at a CAGR of XX% during 2021-27F. A rise in seed funding and series funding is one of the prominent reason which is driving the market of the medical cameras. For Instance: In 2020, Clevergene, Bangalore-based genomics research and analytics startup raised US$ 6,31,000 in a seed funding round from early-stage investment firm Auxano Trust.

Based on the Application, the biomarker & cancer segment acquired the major market share and grabbed US$ XX Mn revenue from the next-generation sequencing market in 2020. However, the personalized medicine segment is also expected to grow at the highest CAGR of XX% during the forecast period owing to the favorable government initiatives leading to the growing adoption of personalized medicine solutions. For instance, the national precision medicine program and the three beyond program were launched in Singapore which promotes the deployment of advanced technologies and digital infrastructure for supporting personalized healthcare solutions.

Request To Download Sample of this Strategic Report - https://univdatos.com/get-a-free-sample-form-php/?product_id=5429 ?

Academic & Government Research Institutes Among End-Users to Witness Robust growth

Based on the end-users, the market is divide into pharma companies, biotechnology companies, academic & government research institutes, clinical research, and others. The academic & government research institutes grabbed XX% revenue share in 2020. The market size of this segment touched US$ XX Million in 2020. The market share of the segment is expected to maintain its dominance in the forthcoming years as well owing to the growing number of associations between major NGS companies and academic research institutes.

North America to Grab Lion’s Share, Asia-Pacific to register the fastest growth

Based on the Region, North America dominated the global next-generation sequencing market in 2020. The region is projected to maintain its dominance during the forecasted period 2021-27 owing to the number of well-established players in the region and heavy expenditure on R&D in the NGS sector leading to the development and launch of novel products. For instance, in 2020, Quest Diagnostics launched Automated NGS Engine to power AncestryHealth, a consumer genetics offering by Ancestry. However, Asia-Pacific is expected to skyrocket with a CAGR of XX% in the forecast period owing, as stated in UnivDatos Market Insights (UMI)’ research report “Global Next-generation Sequencing Market Analysis, 2020”.?

Request for full report - https://univdatos.com/report/next-generation-sequencing-market/ ?

According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the global next-generation sequencing market include Illumina, Thermo Fisher Scientific, QIAGEN, Agilent Technologies, Bio-Rad Laboratories, F. Hoffmann-La Roche, BGI, Danaher Corporation, Myriad Genetics, and Oxford Nanopore Technologies, among others. The players are focused on launching new products for gaining customers' traction and expanding their geographical reach to get a competitive edge in the industry. Some of the instances are:

§?In 2021, Illumina and kartos Therapeutics came into a partnership to co-develop an NGS-based TP53 companion diagnostic.

§?In 2020, Eurofins Genomics launched optimized SARS-COV-2 NGS services which are cost-effective and allows the sequencing of the complete viral genome.

§?In 2020, Roche launched the new Exome and Custom KAPA Target Enrichment portfolio for translational and clinical applications in sequencing.?

“Global Next-generation Sequencing Market Analysis , 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for NGS providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.??????

Request for full report - https://univdatos.com/report/next-generation-sequencing-market/

Market Segmentation:

1.?????By Product/Services (Consumables, Platforms, Services and Bioinformatics)

2.?????By Technology (SBS, SMRT, Pyrosequencing, Ion semiconductor sequencing, Nanopore sequencing and Others)

3.?????By Application (Biomarkers & cancer, Diagnostics, Drug discovery, Personalized medicine, Agriculture & animal research and others)

4.?????By End-Users (Pharma Companies, Biotechnology Companies, Academic & government research institutes, Clinical research & others)

5.?????By Region (North America, Europe, Asia-Pacific, Rest of the World)

6.?????By Company (Illumina, Thermo Fisher Scientific, QIAGEN, Agilent Technologies, Bio-Rad Laboratories, F. Hoffmann-La Roche, BGI, Danaher Corporation, Myriad Genetics, and Oxford Nanopore Technologies, etc.)

Key questions answered in the study:

1.?????What are the current and future trends of the Global Next-generation Sequencing industry?

2.?????How the industry has been evolving in terms of end-user demand, application and technology areas?

3.?????How the competition has been shaping across the countries followed by their comparative factorial indexing?

4.?????What are the key growth drivers and challenges for the Next-generation Sequencing industry?

5.?????What are the customer orientation, purchase behavior, and expectations from the Next-generation Sequencing firms across various regions??