Next-Generation Sequencing Market Is Expected to cross US$ 31,411.3 Mn by 2026, at a CAGR Of 22.2%

Next-Generation Sequencing Market to Rise at 22.2% CAGR, Rising Adoption of NGS Platforms for the Treatment of Rare Disorders Boosts Growth

India - August 8, 2019 /MarketersMedia/ —

The global next-generation sequencing market is forecast to exhibit a remarkable CAGR as the next-generation sequencing platform allows effective sequencing of millions of DNA molecules The demand for cost-effective, accurate, and fast DNA sequencing technologies is increasing and this is further giving rise to the dominance of next-generation sequencing platforms. This will further give rise to advanced sequencing technologies for clinical purposes, which is anticipated to drive the market. Increasing advancements in bioinformatics are likely to increase the adoption of next-generation sequencing platforms to facilitate the diagnosis of rare diseases.

As per the report, the global Next-Generation Sequencing Market is expected to rise at a ferocious CAGR of 22.2% between 2018 and 2026. In 2018, the market was worth US$ 6,335.2 Mn and the market will be a howling success as it is projected to reach US$ 31,411.3 Mn by 2026.

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KEY INDUSTRY DEVELOPMENTS:

-In June 2019, Saphetor announced its partnership with Swift Biosciences Inc. aiming to accelerate and standardize data interpretation solution for targeted next-generation sequencing panels.

-In January 2019, PierianDx announced partnership with Illumina to provide the customers with informatics services for Illumina’s oncology products further supporting cancer diagnostics and research.

-In September 2018, the FDA granted marketing approval to ClonoSEQ assay, a next-generation sequencing-based diagnostic test developed by Adaptive Biotechnologies Corp. for minimal residual disease (MRD), in patients having acute lymphoblastic leukemia (ALL) or multiple myeloma

Demand for Next-Generation Sequencing Services to Rise at a High Pace

Next-generation sequencing products encompass instruments, consumables, and software. According to the findings from the report, the next-generation sequencing product segment is anticipated to lead the market over the forecast period. This is ascribable to some primary factors such as new product launches, high usage of consumables, and easy availability.

The need for novel platforms regarding advancements in bioinformatics and fast DNA data nterpretation are paving way for start-ups, especially for next-generation sequencing services. With the introduction of next-generation sequencing, the cost of sequencing has reduced over the years. This is positively impacting the growth of this segment. Furthermore, the adoption of next-generation sequencing-based testing is increasing across the world.

North America Leads the Way Owing to Active Government Support

Among regions, North America is anticipated to lead the global next-generation sequencing market through the forecast duration. Rapid developments in precision medicine, next-generation DNA sequencing, and diagnostics are creating growth opportunities for the market.

The market is likely to expand as companies in the biotechnology sector are continuously involving in research and development (R&D) activities, which fuels the market demand. Adapative Technologies developed a next-generation sequencing diagnostic test called ClonoSEQ for patients suffering from acute lymphoblastic leukemia or ALL and minimal residual disease or MRD. The test received FDA approval in September 2018, which in turn, contributes to the growth of the Next-Generation Sequencing Market in North America.

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Saphetor SA and Swift Biosciences Inc.’s Partnership Aims to Target Next-Generation Sequencing Panels

Strategic partnerships and new product launches are increasingly adopted by companies as these help them to maintain their position in the Next-Generation Sequencing Market. Some of the industry developments are mentioned below:

• PierianDx joined hands with Illumina, Inc. in January 2019, to fulfil the needs of customers by offering informatics services for Illumina’s oncology products. This will further support cancer diagnostics and research.

• Saphetor SA partners with Swift Biosciences Inc. in June 2019. The partnership aims at standardizing and accelerating data interpretation solutions for next-generation sequencing panels.

• Agilent Technologies, Inc. announces the launch of a next-generation sequencing solution called Agilent OnePGT in June 2018. This solution aims at offering Preimplantation Genetic Testing (PGT).

Research Methodology:

Fortune Business Insights follows a robust research methodology that involves data triangulation based on top-down, bottom-up approaches, and validation of the estimated market numbers through primary research. The information used to estimate the market size and forecast for various segments at the global, regional, and country level is derived from the most credible published sources and through interviews with the right stakeholders.

Growth rate or CAGR exhibited by a market for a certain forecast period is calculated on the basis of various factors and their level of impact on the Next-Generation Sequencing Market. These factors include market drivers, restraints, industry challenges, market and technological developments, market trends, etc.

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