[FURL=https://www.industryarc.com/Report/19510/ngs-based-molecular-diagnostics-market.html]NGS Based Molecular Diagnostics Market[/FURL] size is estimated to reach $ 2255.79M by 2025, growing at CAGR of 6.4% during the forecast period of 2020-2025. The NGS Based Molecular Diagnostics Market growth rate is attributed to the advancement in genomics and proteomics and increasing application of NGS based molecular diagnostic for human diseases hence, fostering the market growth. Next-Generation Sequencing (NGS) is a DNA sequencing method that works on massive parallel sequencing employing Micro and Nanotechnologies that performs in less time and is cost-effective.Key Takeaways
North America dominated the NGS Based Molecular Diagnostics Market with a share of 39.87% in the year 2019.
The factors such as increasing advancements in technologies related to NGS based molecular diagnostics, high prevalence of infectious diseases and various types of cancer and Modernization of Healthcare infrastructure are amongst the major factor projected to impel growth of NGS Based Molecular Diagnostics Market.
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NGS Based Molecular Diagnostics Market Segment Analysis - By Geography
North America is the major region dominating the NGS Based Molecular Diagnostic Market with a revenue share of 39.87% in 2019. According to American Clinical Laboratory Association, Laboratory agencies constantly provide updated guidance documents pertaining to the design, development, and use of NGS-based tests, recognizing the importance of NGS in cancer diagnostics.
However, Asia-Pacific region is estimated to grow at a fastest CAGR during the forecast period 2020-2025. This is owing to the increasing incidences of cancer among lower- and middle-income class countries in Asia Pacific supported by rising incidences of aging populations and changes in lifestyles related to economic developments. India and China are estimated to offer maximum potential for NGS based molecular diagnostic during the forecast period 2020-2025.
NGS Based Molecular Diagnostics Market Drivers –
Advancements in NGS based molecular diagnostics technologies:
NGS Based Molecular Diagnostics Industry Outlook
Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the NGS Based Molecular Diagnostics Market. In 2019, NGS Based Molecular Diagnostics Market share is fragmented by the top ten players present in the market. NGS Based Molecular Diagnostics Market top 10 companies are Illumina Inc., F. Hoffmann-La Roche ltd., Thermo Fisher Scientific Inc., Abbott Laboratories, Danaher Corp., Agilent Technologies Inc., Becton Dickinson & Company, Qiagen N.V., BioMerieux SA, Bio-Rad Laboratories Inc. and others.
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