Global Next Generation Sequencing (NGS) Market

Apr 2019| VMF083A| Verified Market Research

Report Highlights

Global Next Generation Sequencing (NGS) Market By Application, By Technology and Forecast To 2026

According to Verified Market Research, The Global Next-Generation Sequencing (NGS) Services Market was valued at USD 1.26 Billion in 2018 and is projected to reach USD 5.47 Billion by 2026, growing at a CAGR of 20.61% from 2019 to 2026.

 

Next generation sequencing (NGS), also commonly known as massively parallel sequencing (MPS) are terms that describe a DNA sequencing technology that has significantly benefitted the fields of biotechnology, medical diagnosis, forensic biology, biological systematics and virology. The emergence of NGS has changed the way clinical research, basic and applied science are done. In contrast to the previous Sanger sequencing technology, the next generation sequencing technique allows for an entire human genome to be sequenced in considerably less amount of time. Next generation sequencing allows for the identification of biomarkers for early diagnosis as well as personalized treatments, which has significantly impacted the change of the traditional medicine model of diagnosis to a precision medicine model. While Next Generation Sequencing is relatively young, the technique has become a cornerstone of molecular biology and genetics and is significantly prominent in the fields of personalized medicine, genetic diseases, and clinical diagnostics.

Since the completion of the Human Genome Project, the cost of the next generation sequencing technique has significantly decreased and with time, is continuing to decline. With the continuation of declining costs, next generation sequencing is becoming more affordable and accessible, hence driving the market growth. Along with the growth in next generation sequencing has come an expansion in the number as well as variety of library preparation solutions, and as capacities expand, boundaries are also being pushed on sample preparation. While this can add complexity to the decision-making process, there is seen to be an increase in the availability of the skilled workforce for sample preparation, thereby driving the next generation sequencing market forward.

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