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.

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. Consumables is further bifurcated as sample preparation consumables, library preparation & target enrichment kits & reagents, and quality control kits & reagents. The services segment is classified as genome sequencing. Exome sequencing, resequencing & targeted sequencing, and other services.  The applications of next generation sequencing covered in the report include, diagnostics, drug discovery, precision medicine, and others. The end-users of next generation sequencing is classified as academic & research institutes, pharmaceutical & biotechnology companies, hospitals & clinics, and others The market is further examined by evaluating the market on basis of five strategic regions worldwide as North America, Europe, Asia Pacific, Middle East and Africa, and South America.

The key players operating in the field of Next Generation Sequencing worldwide include PerkinElmer, Inc., Oxford Nanopore Technologies, Ltd., Beijing Genomics Institute, Macrogen, Inc., F. Hoffmann-La Roche AG, Agilent Technologies, Eurofins Scientific, Qiagen N.V., Thermo Fisher Scientific, Inc., and Illumina, Inc. among others

The report segments the global next generation sequencing market as follows:

Global Next Generation Sequencing Market - By Product
Platforms
Hiseq Series
Miseq Series
Solid
ION Torrent
Pacbio Rs II & Sequel Systems
Other Platforms
Services
Sequencing Services
RNA sequencing services
Whole Genome Sequencing Services
Whole Exome Sequencing Services
Targeted Sequencing Services
Chip Sequencing Services
Other Sequencing Services
Data Management & Analysis Services Market
NGS Data Analysis Market
NGS Data Analysis Software & Workbenches
Other Data Management & Analysis Services
Consumables
Sample Preparation Consumables
DNA fragmentation, End Repair, A-Tailing, and Size Selection Kits & Reagents
Library Preparation & Target Enrichment Kits & Reagents
Quality Control Kits & Reagents
Other NGS Consumables

Global Next Generation Sequencing Market - By Technology
Genome Sequencing
Exome Sequencing
Resequencing & Targeted Sequencing Oil & Gas
DNA-based Resequencing & Targeted Sequencing
RNA-based Resequencing & Targeted Sequencing
Other Sequencing Technologies

Global Next Generation Sequencing Market - By Application
Diagnostics
Drug Discovery
Precision Medicine
Others

Global Next Generation Sequencing Market - By End-User
Academic & Research Institutes
Pharmaceutical & Biotechnology Companies
Hospitals & Clinics
Other End Users

Global Next Generation Sequencing Market - By Geography
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Asia Pacific (APAC)
Japan
China
India
Middle East & Africa (MEA)
South Africa
UAE
South America (SAM)
Brazil