Next Generation Sequencing (NGS) Services Market - Global Opportunity Analysis and Industry Forecast (2018-2023)

Global NGS services market has shown strong growth pattern in recent year’s majorly due plummeting cost of sequencing, need of skilled professionals for efficient NGS sample preparation and analysis, technological advancements in NGS services, increase in genome mapping programs, high cost of sequencing infrastructures are expected to boost the demand for NGS services across the globe. However, installation of in-house sequencing facilities in hospitals and universities for genome testing may obstruct the growth of NGS services to some extent.

Meticulous Research® in its latest publication on global NGS services market states that the global NGS services market will increase at a CAGR of 20.1% from 2018 to 2023 to reach USD 2,921.4 million by 2023. The recent advances in the field of genomics research over the past years have led to substantial reduction in the cost of genome sequencing. The NGS technology has reduced the cost and increased the speed of DNA sequencing significantly.

Meticulous Research states that “In genomics research field, sequencing is being applied not only to assemble genomes and to investigate the genetic basis of human diseases, but also to understand the diverse nature of reproductive medicine, oncology and infectious diseases. The cheaper genome sequencing could revolutionize healthcare, allowing doctors to prescribe individualized treatment options for patients. Also, this would enable faster progress in clinical research, pushing research for cancer and other genetically linked diseases forward”.

The cost of sequencing closely followed a Moore’s law trajectory over the years before 2008; however, the introduction of NGS technologies caused costs to fall faster than would be expected by Moore’s law. In 2003, the first time the human genome was sequenced for a price of $2.7 billion. Later, the price of sequencing an average human genome declined from about USD10million to a few thousands in just 6 years of duration (2007-2013). Further to this declining price trend, in January 2017, Illumina debuted a new sequencing machine, the NovaSeq (NovaSeq 5000 and NovaSeq 6000), which has ability to sequence an entire genome for less than USD 100 in fewer than 60 minutes.

The report provides meticulous analysis of global NGS services market by segmenting it on the basis of service type (targeted sequencing, rna sequencing, exome sequencing, de novo sequencing, chip-sequencing, whole genome sequencing, methyl sequencing, and other services), technology [sequencing by synthesis (sbs), ion semiconductor sequencing (ios), single molecule real time sequencing (smrt), nanopore sequencing, and true single molecule sequencing (tsms)], application (diagnostics, drug discovery, biomarker discovery, agriculture & animal research, and other applications), end user (academic& research institutes, pharmaceuticals & biotechnology industry, hospitals & clinics and other end users), and geography.

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The key players analyzed in the global NGS services market are Illumina, Inc. (U.S.), Qiagen N.V. (The Netherlands), PerkinElmer, Inc. (U.S.), Eurofins Scientific SE (Luxembourg), GATC Biotech AG (Germany), Macrogen, Inc. (South Korea), Genotypic Technology Pvt. Ltd. (India), GENEWIZ, Inc. (U.S.), Beijing Genomics Institute (BGI) (China), SciGenom Labs Pvt. Ltd. (India), MedGenome (India), DNA Link, Inc. (South Korea), Otogenetics Corporation (U.S.), Novogene Corporation (China), LGC Limited (U.K.), CD Genomics (U.S.), and SeqLL, LLC (U.S.)

Key questions answered in the report-

Growing genomics research in academic and research institutes and outsourcing of genome testing in biopharmaceutical & biotechnology industry to drive the adoption of NGS services

-How does the penetration of NGS services in biopharmaceutical industry differ from that in diagnostics and biomarker discovery applications?
-What impact does this have on the adoption of NGS services in comparison to other conventional technologies for detection of genetic mutations?

Agriculture & animal research account for a relatively small proportion of all applications of NGS services globally
-What factors contribute to the infrequent usage of NGS services for agriculture & animal research?
-Conversely, which geographic segment is expected to experience the fastest growth for agriculture & animal research?

The North American NGS services market favors both larger and local manufacturers that compete in multiple segments
-Who are the top competitors in this market and what strategies do they employ to gain shares?
-What is driving growth and which market segments have the most potential for revenue expansion during the forecast period?
-What strategies must companies adopt who are looking to enter this market and compete effectively?
-What are the major drivers, restraints, opportunities, and challenges in the global NGS services market?
-Who are the major players in various countries and what share of the market do they hold?
-What are the geographical trends and high growth regions/ countries?

Recent new service launches, acquisitions, collaborations, partnerships, and expansions have taken place in the NGS services space.
-What companies have recently merged/acquired and how will these unions affect the competitive landscape of the NGS services space?
-What companies have created partnerships and how will these partnerships promote a competitive advantage?
-Who are the major players in the global NGS services market and what share of the market do they hold?
-What are the local emerging players in the global NGS services market and how do they compete with the global players?

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About Meticulous Research®

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Radiotherapy Market Make A Way For the Next Wave Of Medical Device Industry - Global Forecast to 2025

Meticulous Research– leading global market research company published a research report titled “Radiotherapy Market by Product (Radiotherapy Devices, Software, Service), Procedure (EBRT, Brachytherapy, Systemic Radiotherapy), Technology (IMRT, SRT, VMAT, HDRBT, LDRBT, PDRBT), Application (Prostate, Breast)–Global Forecast to 2025”.

According to this latest publication from Meticulous Research, the global radiotherapy market is expected to grow at a CAGR of 5.6%from 2019 to reach $10.15 billion by 2025. The growth in radiotherapy market is mainly attributed to growing awareness about the benefits of radiotherapy for cancer control and eradication, increasing incidence &prevalence of cancer, and technological advancements in the field of radiotherapy. In addition, significant opportunities from emerging economies and growing government investments for treatment of cancer offer growth opportunities for the players operating in this market. However, high costand complexities associated with the radiation procedures, paucity of skilled healthcare professionals, and lack of advanced infrastructure facilitiesare the key factors expected to hinder the adoption of radiotherapy products.

Growth Prospects in Radiotherapy Market

The global radiotherapy market study presents historical market data in terms of values (2017 and 2018), estimated current data (2019), and forecasts for 2025-by product(radiotherapy devices, radiotherapy consumables & accessories, software, and services), by procedure (external beam radiotherapy and internal beam radiotherapy),by technology (external beam radiotherapy (IMRT, IGRT, SRT, 3DCRT, Particle Therapy, and VMAT), internal beam radiotherapy(high-dose rate brachytherapy, low-rate brachytherapy, image-guided brachytherapy, pulse-dose rate brachytherapy, intravenous systemic radiotherapy and oral systemic radiotherapy)), application(prostate, brain, breast, lung, head & neck, colorectal, cervical, and others),end user(hospitals, independent radiotherapy centers, cancer research institutes), and Geography.The study also evaluates industry competitors and analyzes the market at regional and country level.

Based on product, the radiotherapy devicessegment accounted for the largest share of this market in 2018. The large share of this segment is mainly attributed to increasing installations of radiotherapy systems globally and frequent product launches with advanced technology.

Based on procedure, the external beam radiotherapysegment accounted for the largest share of this market in 2018. The large share of this segment is mainly attributed to higher & growing adoption of external beam radiotherapy procedures due to better clinical outcomesandless damage to normal tissues even at high radiation dose, and increasing installations of the external beam radiotherapy systems, globally. In external beam radiotherapysegment, linac based teletherapy accounted for the largest share. The high growth of this segment can be attributed to their growing adoption owing to accuracy in tumor treatment, high radiation penetration, and radiation deposition within small volume limiting damage to normal cells.

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Based on technology, the external beam radiotherapy market is classified into IMRT, IGRT, SRT, 3DCRT, Particle Therapy, and VMAT. The particle beam therapy segment is projected to grow at a fastest CAGR during the analysis period, mainly due to continuous innovations in the particle beam therapy technologies, increasing availability of advanced proton therapy systems, and increasing investment in the proton therapy room across the globe.

Based on application, prostate cancer segment is forecasted to grow at a fastest CAGR during the forecast period due to rising incidence of prostate cancer and related mortality, rising diagnosis and treatment rate of the disease with growing awareness about the fatality and benefits of early diagnosis and treatment across the globe.

The hospitals segment held the largest share in the global radiotherapy market in 2018. This is primarily attributed to large volume of radiotherapy procedures performed in hospitals owing to their easy accessibility, availability of advanced infrastructure, and availability of wide range of healthcare services across various disease areas.Growing number of hospitals and government initiatives to develop advanced healthcare facilities are further supporting the growth in this segment.

This research report analyzes major geographies and provides comprehensive analysis for North America (U.S., Canada), Europe (Germany, France, U.K., Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, and RoAPAC), Latin America, and Middle East & Africa. North America commanded the largest share of the globalradiotherapy market in 2018, followed by Europe and Asia Pacific. However, Asia Pacific region is expected to grow at the higher CAGR during the forecast period. Growth in this market is expected to be driven by large pool of cancer patients; increasinggovernment focus on healthcare sector; and increasing disposable income of the population driving access to better healthcare services and cancer diagnosis and treatment. In addition, favorable government policies and healthcare structural reforms are further expected to drive the market growth.The key players operating in the global radiotherapy market areVarian Medical Systems, Inc., Elekta AB, Accuray Incorporated, C. R. Bard, Inc., Mevion Medical Systems, Inc., Hitachi, Ltd., ViewRay, Inc., Panacea Medical Technologies Pvt. Ltd., Isoray, Inc., Optivus Proton Therapy, Inc., P-Cure, Ltd., Provison Healthcare, LLC, Ion Beam Applications S.A., and Theragenics Corporation.

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Key questions answered in the report-

• Which are the high growth market segments in terms of product, procedure, technology, application, end user, and region/countries?
• What was the historical market for radiotherapy across the globe?
• What are the market forecasts and estimates for the period 2019–2025?
• What are the major drivers, restraints, challenges, and opportunitiesin the global radiotherapy market?
• Who are the major players in the global radiotherapy market?
• How is the competitive landscape and who are the market leaders in the global radiotherapy market?
• What are the recent developments in the global radiotherapy market?
• What are the different strategies adopted by the major players in the global radiotherapy market?
• What are the geographical trends and high growth regions/ countries?

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