Next Generation Sequencing Market is projected to reach US$ 26,501.2 million by 2025 from US$ 4,274.9 million in 2016

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Next Generation Sequencing Market to 2025 – Global Analysis and Forecasts by Product (Platforms, Services, Consumables); Service (Genome Sequencing, Exome Sequencing, Resequencing Targeted Sequencing & Other Sequencing Technologies); Application (Diagnostics, Drug Discovery, Precision Medicine, & Other Applications); & End User (Academic & Research Institutes, Pharmaceutical & Biotechnology Companies, Hospitals & Clinics, & Other End Users).

According to a new market research study titled ‘Next Generation Sequencing Market to 2025 – Global Analysis and Forecasts by Product, Services, Applications, and End-Users. The global Next Generation Sequencing market is calculated to account for US$ 26,501.2 Mn by 2025 as compared to US$ 5,731.3 Mn in 2017, growing at a CAGR of 21.1% during the forecast period from 2018 to 2025. The report highlights the trends prevalent in the global next generation sequencing market and the factors driving the market along with those that act as deterrents to its growth.

Get more information on this report @ https://www.theinsightpartners.com/reports/next-generation-sequencing-market

The global next generation sequencing market is a matured market in the developing countries as well as developing economies worldwide. The necessity of genetic analysis is constantly increasing in recent days due to the reliable and accurate results being offered by the technique. The demand for next generation sequencing is experienced mostly from academic institutions followed by hospitals & clinics. Among the applications, the demand for next generation sequencing is significantly high in diagnostics, drug discovery, followed by precision medicine. Furthermore, advancements in sequencing technologies and declining cost of sequencing is expected to be a driving factor for the next generation market.

However, high cost of advanced technologies may hamper the growth of the market in the coming years. In recent years, the demand for cutting edge technology in order to gain high speed results and accuracy is increasing. Technological development has enabled advances in sequencing technology leading to a sharp increase in the cost of sequencing equipment. Companies such as Illumina and PacBio offer instruments with high cost. For instance, Illumina MiSeq cost for US $ 128,000 andPacBio RS cost for US $ 695,000.

The global next generation market has been segmented, based on different parameters such as product, service, application, end-users and geographical regions. The products considered in the study are platform, services, and consumables. The platform segment is further segmented as Hiseq, Miseq, Solid, ION Torrent, Pacbio Rs II & Sequel Systems. The sub-segment of services is further divided as sequencing services and data management & analysis services