Description
Next generation sequencing , also known as high-throughput sequencing , is a DNA sequencing technology that has revolutionized genomic research . Due to its ability to sequence DNA , NGS technologies have drawn attention in scientific research . The global next generation sequencing market was valued at USD 4.01 billion in 2015 and is projected to reach USD 12 billion by 2021 , at a CAGR of 20 % during the forecast period from 2016 to 2021 . Values in this graph are adjusted . Actual values available in the report
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MARKET DYNAMICS The technology is emerging at a rapid pace , due to its increasing application in clinical diagnosis . Speed , cost , and accuracy of the technology , efficient replacement of traditional technologies ( microarrays ), and drug discovery applications demanding NGS technology are few factors driving the growth of this market . Legal & ethical issues are likely to hamper the market growth . Interpretation of complex data and lack of skilled professionals are the other major factors restraining the NGS market growth .
MARKET SEGMENTATION The global next generation sequencing market has been segmented by - Application : drug discovery / personalized medicine , genetic screening , diagnostics / infectious diseases , agricultural and animal research , and others .
The drug discovery / personalized medicine segment dominates the application segment . However , diagnostics / infectious diseases segment is the fastest growing of the NGS Market . Technology : whole genome sequencing , targeted re-sequencing , whole exome sequencing , RNA sequencing , Chip sequencing , De Novo sequencing , and methyl sequencing . RNA Sequencing accounted for the largest market revenue in 2015 . However , whole genome sequencing is expected to grow at the highest CAGR during the forecast period . Products : instruments , reagents & consumables and services . The reagents and consumables segment had the highest market share in 2015 . However , services segment is expected to grow at a high CAGR through 2021 .
End-User : hospitals & healthcare institutions , academics , biotech & pharma firms , and others . * Values in this graph are adjusted . Actual values available in the report . The largest share in 2015 was held by the academics segment , but the pharmaceuticals segment is expected to hold the largest share by 2021 .
Geography : North America , Europe , Asia-Pacific , Latin America , and the Middle East & Africa . North America is currently the largest market for NGS , followed by Europe . This is due to the increased awareness about the quick return on investment and accuracy of the technology . Asia-Pacific is one of the fastest growing segments . www . orbisresearch . com ; + 1 ( 214 ) 884-6817 ; + 9120-64101019