(EMAILWIRE.COM, April 27, 2018 ) The global next-generation sequencing (NGS) services market is expected to reach USD 2,748.6 Million by 2022 from USD 1,059.2 Million in 2017, growing at a CAGR of 21.0% during the forecast period. Factors such as technological advancements in the field of robot-assisted surgeries, increasing number of minimally-invasive surgeries, and growing patient preference for affordable & effective surgical treatments are driving the growth of this market.

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The report analyzes the global NGS services market by type, technology, application, end user, and region. Based on type, the targeted resequencing & custom gene panels segment accounted for the largest share of the market; owing it to the advantages of targeted resequencing it offers over conventional methods and development of technologically advanced NGS products and services for targeted resequencing.

Sequencing by synthesis technology accounted for the largest market share owing to the introduction of technologically advanced SBS platforms in the market which allows more efficient sequencing and reduces the cost of sequencing. Based on applications, the NGS services market is segmented into diagnostics, drug discovery, biomarker discovery, agriculture & animal research, and other applications. The diagnostics segment is estimated to account for the largest share of the global NGS services market in 2017 owing to its growing number of target diseases across the globe and technological advancements to support a wider range of NGS-based applications.

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This report covers the NGS services market value data across four major geographies, namely, North America, Europe, Asia-Pacific, and the Rest of the World (RoW). North America accounted for the largest share of the global NGS services market in 2016, followed by Europe. The large share in the North American region is mainly attributed to the presence of leading NGS service providers in the region, declining cost of sequencing, rising awareness of NGS services, increasing number of NGS-based research & clinical applications in the region, high incidence of target diseases such as cancer, and the favorable reimbursement scenario in the region. The Asia-Pacific region is expected to register the highest growth rate during the forecast period, due to the rapid growth in the genomic research and NGS based diagnostics in emerging Asia-Pacific countries such as China and India, which will support the adoption of NGS services.

The installation of in-house sequencing facilities in hospitals and universities is the key factors restraining the growth of this market.

As of 2016, BGI (China) dominates the market through its wide range of technologically advanced and innovative NGS services. The company adopts the strategy of agreements and partnerships to maintain its leadership position in the market. Other prominent players in the market included Eurofins Scientific SE (Luxembourg), PerkinElmer, Inc. (U.S.), QIAGEN (Germany), Macrogen Inc. (South Korea), GENEWIZ, Inc. (U.S.), Illumina, Inc. (U.S.), Novogene Corporation (China), and GATC Biotech AG (Germany)  among others.

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