The global NGS- based RNA- seq market was valued at US$ 1,240.87 Mn in 2017 and is estimated to reach US$ 7,984.90 Mn by 2027.
PUNE, MAHARASTRA, INDIA, December 16, 2019 /EINPresswire.com/ — The market is estimated to grow with a CAGR of 19.3% from 2018- 2027.The report highlights the trends prevalent in the global NGS- based RNA- seq market and the factors driving the market along with those that act as deterrents to its growth.
NGS-Based RNA-Seq Market to 2027 – Global Analysis and Forecasts By Product & Services (Sample Preparation, Sequencing Services, Sequencing Platform & Consumables and Data Analysis, Storage & Management), Technology (Sequencing by Synthesis, Nanopore Sequencing, Ion Semiconductor Sequencing and Single Molecule Real Time Sequencing), Application (Diagnostics, Drug Discovery, Precision Medicine and Others), End User (Biotechnology & Pharmaceutical Companies, Hospitals & Clinics, Research Centers and Academic & Government Institutes and Others ) and Geography
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The growth in the adoption of the next generation sequencing is rising, recently in few years, next generation sequencing price have reduced greatly. For instance, first whole human genome sequencing cost over US$ 3billion in 2001 and it took approximately 15 years for its completion. However, the costs for the same in recent years has reduces to US$1,000 and the process requires less number of days. The cost of sequencing was approximately US$ 3 billion, which dropped down to US$ 10 million in 2006 and as the development in the technologies as increased the prices of sequencing has decreased to US$ 5,000 in 2012. Major market players such as Illumina and Roche have introduced breakthrough technologies that have enabled in the cost and time reduction in the sequencing. Moreover, the increase in the service provider companies have entered the market and they are offering next generation sequencing in cheaper cost.
Global NGS- based RNA- seq market, based on the product & services is segmented into sample preparation, sequencing services, sequencing platform & consumables and data analysis, storage & management. The sample preparation segment is further bifurcated into method and workflow step segments. In 2017, sequencing platform & consumables segment held the largest share, by product& services. Additionally, the data analysis segment is anticipated to grow at a significant rate during the forecast period.
Global NGS- based RNA- seq market is expected to grow in the coming years, owing to the factors such as, reduced cost of genome sequencing, advancements in sequencing technology and next generation sequencing for cancer. However, the risks related to genetic data and high cost of NGS instruments is act as a restraint for this market. On the other hand, barcode scanning for long reads sequences likely to add novel opportunities for NGS- based RNA- seq market, in the coming years.
The major players operating in the NGS- based RNA- seq market include Illumina, Inc., Thermo Fisher Scientific Inc., Pacific Biosciences of California, Inc., Qaigen, F. Hoffmann- La Roche AG, Agilent Technologies, Inc., BGI, Oxford Nanopore Technologies, Perkinelmer, Inc. and Eurofins Scientific among others. The market players are focused towards bringing new and innovative product launches to sustain their position in the market. For instance, in October 2018, Agilent Technologies Inc. launched Agilent OnePGT, a genome- wide, next- generation sequencing (NGS) solution for preimplantation genetic testing (PGT).
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Source: EIN Presswire