The market is estimated to grow with a CAGR of 21. 4% from 2018-2025. The growth of the next generation sequencing market is primarily attributed to the technological advancements in sequencing and an extensive use of genomics for medical applications.
New York, Nov. 12, 2019 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Europe Next Generation Sequencing Market to 2025 - Regional Analysis and Forecasts by Product; Service; Application; & End User, and Country" - https://www.reportlinker.com/p05794719/?utm_source=GNW
However, nonexistence of skilled professionals and high risks associated with genetic data.
On the other hand, an extensive use of genomics for medical applications is likely to have a positive impact on the growth of the Europe next generation sequencing market in the coming years.
The genomics is comprised of various technologies such next generation sequencing (NGS), genome editing, gene synthesis and more.These technologies have been utilized for achieving various discoveries for the betterment of the health conditions across the living organisms.
The next generation sequencing is widely used in the field of the medical to understand the genetic composition of the patients.The use of NGS has been utilized for the alteration of plants and animals for the desired physical and genetic changes.
The technology is used to produce biomarkers.The biomarkers are widely used in clinical research and clinical practice.
NGS is among the important developments in genomic technologies, the technology is used for the discovery of oncogenic biomarker and diagnostics. NGS enables in discovery of biomarker and identifying the genetic diseases. In addition, the NGS is used for the developing precision medicine for individual’s genomic information to offer targeted treatment to the individual. NGS have capability of sequencing large sections of a person’s genome in very short period of time and can also aid in formulation of precision medicine. Next generation sequencing technology is among the major driver of precision medicine and has improved its accuracy, speed, and cost. Developments in whole genome sequencing has enabled the identification of genes required in the large number of diseases, and biomarkers that indicate disease severity to treatment are gradually being characterized. Therefore, the use of the NGS for the discovery of biomarker have benefited for the early diagnosis and differentiating in disease types. Likewise, precision medicine enables in treatment of the diseases NGS plays significant role for both the application by creating an array of opportunities in future.
In 2017, the consumables segment held a largest market share of 64.0% of the next generation sequencing market, by product. The segment is growing due to the consumables offered by various companies are widely accepted by the consumers and it provides accuracy and precision in the preparation of the NGS. Furthermore, the similar segment is anticipated to witness the fastest growth rate during the forecast period, 2018 to 2025.
In 2017, the resequencing segment held a largest market share of 66.0% of the next generation sequencing market, by technology. This segment is also expected to dominate the market in 2025 as the rising funding by various government bodies and usage of NGS in the resequencing and targeted sequencing. Furthermore, the genome sequencing segment is anticipated to witness the fastest growth rate during the forecast period, 2018 to 2025.
Diagnostics segment is anticipated to grow at a CAGR of 22.0% during the forecast period owing to the growth of the technological advancements such as sequencing machines in the developed and developing regions. Moreover, the similar segment held the largest market share of 34.0% for the application segment in the next generation sequencing market and is likely to dominate the market in coming forecast period.
In 2017, the academic & research institutes segment held a largest market share of 45.2% of the next generation sequencing market, by end user. This segment is also expected to dominate the market in 2025. Moreover, the similar segment is anticipated to witness the fastest growth rate of 21.9% during the forecast period, 2017 to 2025. This higher growth rate of the segment owing to the providing the references for further researches are likely to propel the growth of the research centers segment in the coming future.
Some of the major primary and secondary sources for next generation sequencing included in the report are, Non-Invasive Prenatal Testing (NIPT), Food and Drug Administration (FDA), Developing an European - American NGS Network (DEANN), Foreign Direct Investment (FDI) and among others.
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