Next generation sequencing Market Competitive landscape, future, growth till 2027
Consumables Surgery Segment to Grow at Faster CAGR During 2018–2025
According to our new research study on “Next generation sequencing in Healthcare Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Component, Application, and End User,” the market is expected to reach US$ 26,501.2 million by 2025 from US$ 4,274.9 million in 2016; it is estimated to grow at a CAGR of 21.1% from 2016 to 2025. The report highlights trends prevailing in the market, and the factors driving and hindering the market growth. The growth of the Next generation sequencing in healthcare market is attributed to the increases in cancer prevalence, rise in funds and grants, focus of industry players and various meetings, conferences, workshops among others, are likely to propel the market growth. Additionally, technological development and decreasing price of sequencing is driving the growth of the market. However, factors such as risk associated with the genetic data, dearth of skilled professionals and high cost of equipment are restraining the market growth.
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Based on product, the Next generation sequencing in healthcare market is segmented into platforms, services, and consumables. The consumables segment has the major market share among the product segment. Consumables segment is poised to grow with a highest CAGR of 21.6% from 2016-2025. 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. Owing to these factors, the market for consumables is anticipated to surge during the forecast period from 2016 to 2025, at a significant rate.
The Next generation sequencing in healthcare market is expected to witness substantial growth post-pandemic. The COVID-19 has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The COVID-19 crisis has overburdened public health systems in many countries and highlighted the strong need for sustainable investment in health systems. As the COVID-19 pandemic progresses, the healthcare industry is expected to see a drop in growth. The life sciences segment thrives due to increased demand for invitro diagnostic products and rising research and development activities worldwide. However, the medical technologies and imaging segment is witnessing drop in sales due to a smaller number of surgeries being carried out and delayed or prolonged equipment procurement. Additionally, virtual consultations by healthcare professionals are expected to become the mainstream care delivery model post-pandemic. With telehealth transforming care delivery, digital health will continue to thrive in coming years. In addition, disrupted clinical trials and the subsequent delay in drug launches is also expected to pave the way for entirely virtual trials in the future. New technologies such as mRNA is expected to emerge and shift the pharmaceutical industry and market is also expected to witness more vertical integration and joint ventures in coming years.
Illumina, Inc., Thermo Fisher, Qiagen N.V., Beijing Genomics Institute, PerkinElmer, Inc., F.Hoffman-La Roche Ltd., Agilent Technologies, Eurofins Scientific, Oxford Nanopore Technologies Ltd. and Macrogen Inc. among others.. are among the leading companies operating in the Next generation sequencing in healthcare market.
The report segments Next generation sequencing in healthcare market as follows:
By Product
Consumables
Services
Platforms
By Technology
Genome Sequencing
Exome Sequencing
Resequencing & Targeted Sequencing
Other
By Application
Diagnostics
Drug Discovery
Precision Medicine
Other
By Geography
North America
US
Canada
Mexico
Europe
France
Germany
UK
Spain
Italy
Rest of Europe
Asia Pacific (APAC)
China
India
Japan
Australia
South Korea
Rest of APAC
Middle East & Africa (MEA)
Saudi Arabia
UAE
South Africa
Rest of MEA
South and Central America (SCAM)
Brazil
Argentina
Rest of SCAM
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