According to the research report titled ‘Next Generation Sequencing Market Size By Product Type (Instruments, Consumables, Services), By Application (Research Application, Clinical Application {Cardiovascular, Reproductive Health, Cancer, Infectious Diseases}, Other Applications), By Type (Whole Genome Sequencing, Exome Sequencing, Targeted Sequencing), By Technology (Sequencing by Synthesis, Ion Semiconductor Sequencing), End-user (Academic Institutes & Research Centers, Hospitals & Clinics, Pharmaceutical & Biotechnology Companies) Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Japan, India, China, Australia, South Korea, Brazil, Mexico, Argentina, South Africa, Saudi Arabia, UAE), Application Potential, Competitive Market Share & Forecast, 2019 – 2025’, available with Market Study Report, the global next generation sequencing market is expected to surpass USD 15 billion by the year 2025.
 

According to the report, advancements in sequencing technologies coupled with its increasing applications for examining DNA are major factors driving the next-generation sequencing market growth. There has been an upsurge in adoption rates of next generation sequencing technologies in drug development processes in biopharmaceutical and pharmaceutical companies. This factor along with declining prices of the technology are further aiding the market expansion.
 

As per product type, the report cites that the instrument segment is expected to grow by 20% by the year 2025, primarily due to availability of advanced NGS instruments for efficient drug discovery activities. Moreover, technological improvements in next generation sequencing instruments have helped in minimizing the investment required for R&D activities, thereby fueling the segmental growth.
 

Based on the application spectrum, research application of next generation sequencing technology held 40% share in the year 2018 and is expected to register continuous growth in the subsequent years. Increased pervasiveness of rare genetic diseases has compelled researchers to develop innovative gene therapies. Thus, increasing utilization of NGS instruments in R&D activities are stimulating the industry outlook.
 

By type, the report states that exome sequencing market segment was worth USD 1.8 billion in the year 2018 and is presumed to expand significantly during the forecast period. Shifting preferences towards exome sequencing technology by researchers and doctors for examining genome sequence are boosting the segmental growth.
 

Citing the end-use landscape, pharmaceutical and biotechnology companies segment will witness a growth rate of 21% during the estimated timeframe. These companies are focusing on R&D activities to develop innovative drugs for various chronic disorders. Moreover, these companies utilize advanced NGS instruments to produce reliable and commercially viable drugs. Thus, aforementioned factors are favoring the market outlook.
 

Request sample copy of this Report@ https://www.marketstudyreport.com/request-a-sample/1979118/
 

As per regional analysis, the report states that the next generation sequencing market in North America will exhibit a CAGR of 20.3% during 2019-2025. Favorable federal reforms and trade policies, availability of advanced healthcare infrastructure and high concentration of medical research laboratories are augmenting the regional demand.
 

The prominent companies operating in the next generation sequencing industry are Thermo Fisher, Roche, Qiagen, Pac-Bio, Oxford Nanopore, Nanostring, Long Read Solutions, Ollumina, Genapsys, Bio-Rad, BGI, Agilent, and 10X Genomics.