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Next-Generation Sequencing Market to Soar at 22.2% CAGR till 2026; Increasing Demand for Advanced Diagnostics for Chronic Diseases to Fuel the Market: Fortune Business Insights™

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Pune, May 14, 2020 (GLOBE NEWSWIRE) — The global next-generation sequencing market size is projected to touch USD 31,411.3 million by 2026, exhibiting a CAGR of 22.2% during the forecast period. Increasing prevalence of cancer worldwide is likely to emerge as a major growth driver for this market, observes Fortune Business Insights™ in its report, titled “Next-Generation Sequencing Market Share and Industry Analysis By Type (Products, Instruments & Software, Consumables, Services), By Application (Diagnostics, Research), By End User (Research Institutes, Healthcare Facilities & Diagnostic Centres, Pharmaceutical & Biotechnological Companies, Contract Research Organization) & Regional Forecast, 2019 – 2026”.Latest data from the International Agency for Research on Cancer (IARC) reveals that the global burden of cancer has jumped to 18.1 million new cases and roughly 9.6 million deaths in 2018. With the cause of its eruption in a body still being a mystery, detecting the disease in its early stages is an insurmountable diagnostic challenge to physicians. In this regard, next-generation sequencing technology is increasingly being considered as an efficient solution to this problem. This is because the NGS technology enables whole-genome sequencing, helps in discovering infrequent gene alterations, provides a molecular profile of wide varieties of cancers, and identifies hereditary cancer mutation carriers.Comprehensive insights into the factors and trends shaping the share, size, and growth of the market;In-depth analysis of the market restraints;Detailed evaluation of all the market segments; andMicroscopic study of the regional dynamics and competitive environment characterizing the market.
An Overview of the Impact of COVID-19 on this Market:The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
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COVID-19 Outbreak to Create New Research Opportunities in NGSThe on-going coronavirus pandemic has reinforced the importance of medical research. Many organizations are fervently conducting research to understand the virus strain and track its mutations and sharing their findings with each other. For example, researchers at GenBank and the Global Initiative to Share All Influenza Data (GISAID) are exchanging their knowledge of the origin of the SARS-CoV-2 genome and its transmission routes and epidemiology.Their research is enhancing diagnostics and treatment development capacities across the globe. Private entities such as Thermo Fischer and Eurofins are exploring the applicability of NGS in analyzing the progress of the virus through the different transmission routes. Thus, the NGS market growth is set to go full throttle as this pandemic propels research in medicine and healthcare.    
Regional AnalysisNorth America to Hold Lion’s Share in the Market; Asia-Pacific to Register Impressive GrowthThe market size in North America stood at USD 2,331.4 million in 2018, giving the region an advantageous position to dominate the next-generation sequencing market share in the foreseeable future. The main growth determinants for the market in this region include increasing incidence of cancer, presence of well-established companies, and strong regulatory support to new medical technologies.In Europe, the market will be primarily driven by rising focus on precision therapies and steadily rising investment in medical research, which will be further propelled by the COVID-19 pandemic. Growing incidence of genetic and chronic diseases, spreading awareness about reproductive health, and overall improvements in healthcare infrastructure will augur well for the market in Asia-Pacific.Competitive LandscapeStrategic Alliances between Key Players to Spur CompetitionThe dynamics of the competitive landscape of this market are defined by the operations of the large companies such as Thermo Fischer and Roche. These companies are teaming up with other players to diversify their research activities and cater to the escalating demand for advanced diagnostics and therapies for various diseases.
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Industry Developments:June 2019: US-based Swift Biosciences and Switzerland-domiciled Saphetor SA collaborated to develop and release a set of differentiated NGS products and solutions for clinical research, translational, and genomics applications. Under the partnership, the companies will leverage Saphetor’s cloud-based platform, VarSome Clinical, for quick and accurate discovery and analysis of NGS data.January 2019: US-based genomics expert, PierianDx, announced its multi-year strategic collaboration with Illumina. The partnership will be aimed at providing variant interpretation of select Illumina oncology products using PierianDx’s Clinical Genomics Knowledgebase and Clinical Genomics Workspace platforms.
List of Companies Covered in the Next-Generation Sequencing Market Report:PierianDx Eurofins ScientificBGIAgilent Technologies, Inc.Thermo Fisher Scientific Inc.Macrogen, Inc.PerkinElmer Inc.QIAGENF. Hoffmann-La Roche LtdIllumina, Inc.IntroductionResearch ScopeMarket SegmentationResearch MethodologyDefinitions and AssumptionsExecutive SummaryMarket DynamicsMarket DriversMarket RestraintsMarket OpportunitiesKey InsightsOverview of Next-Generation Sequencing Diagnostics TestRegulatory Scenario – For Key CountriesNew Product LaunchStartups with their Funding OverviewKey industry Developments – Mergers, Acquisitions and PartnershipsGlobal Next-Generation Sequencing Market Analysis, Insights and Forecast, 2015-2026Key Findings / SummaryMarket Analysis, Insights and Forecast – By TypeProductsInstruments & SoftwareConsumablesServicesMarket Analysis, Insights and Forecast – By ApplicationDiagnosticsResearchOthersMarket Analysis, Insights and Forecast – By End UserResearch InstitutesHealthcare Facilities & Diagnostic CentersPharmaceutical & Biotechnological CompaniesContract Research Organization (CROs)Market Analysis, Insights and Forecast – By RegionNorth AmericaEuropeAsia PacificLatin AmericaMiddle East & AfricaTOC Continued….!!!

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Have a Look at Related Reports:Genomics Market Size, Share and Global Trend By Type (Products, Services), Technology (Polymerase Chain Reaction, Next-generation Sequencing, Microarray, Sanger Sequencing), Application (Diagnostics, Research), End-User (Research Institutes, Healthcare Facilities & Diagnostic Centers, Pharmaceutical & Biotechnological Companies, Contract Research Organization (CROs)) & Geography Forecast till 2026Regenerative Medicine Market Size, Share and Global Trend By By Product (Cell Therapy, Gene Therapy, Tissue Engineering, Platelet Rich Plasma), By Application (Orthopaedics, Wound Care, Oncology), By Distribution Channel (Hospitals, Clinics) & Geography Forecast till 2026Gene Therapy Market Size, Share and Global Trend By Disease Indication(Cancer, Genetic disorders, Cardiovascular diseases, Ophthalmology, Neurological conditions) By Type of Vectors (Viral vectors, Non-viral vectors), By Type of Cells(Somatic cells, Germline cells) and Geography Forecast till 2026DNA Sequencing Market Size, Share & Industry Analysis, By Type (Instruments, Reagents & Consumables, Workflow Products, Services), By Technology (Next Generation DNA Sequencing, Sanger Sequencing), By Application (Research & Clinical Trials, Others) By End-User (Biotechnology & Pharmaceutical Industries, Diagnostic Centers, Hospitals & Clinics) and Regional Forecast, 2019-2026About Us:Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.At Fortune Business Insights™ we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.Contact Us:Fortune Business Insights™ Pvt. Ltd.
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