The North America next generation sequencing market is expected to reach US$ 10,733.0 Mn in 2025 from US$ 2,378.5 Mn in 2017. The market is estimated to grow with a CAGR of 20.7% from 2018-2025.
The growth of the market is driven by the factors such as, declining price of sequencing and increasing prevalence of cancer. However, the market is likely to get impacted due to risks associated with genetic data and high cost of advanced technologies in next generation sequencing in the region.
In recent years, the cases of cancer has been increasing tremendously and the trend is anticipated to remain the same in the upcoming years. Change in lifestyle has resulted in more exposure to oncogenic factors. In 2015, The American Cancer Society estimated 1,658,370 cancer cases to be detected in the US. Cancer can be cured if diagnosed and treated at an initial stage. Cancer sequencing using next-generation sequencing (NGS) methods provides more information. Additionally, NGS also aids in diagnostics and treatment of cancer. Increase in cancer cases are expected to be a prime factor driving the demand for NSG market in the coming years.
Additionally, Biomarkers are medical signs that are indications of medical state observed from outside the patient. The biomarkers are used in clinical research and clinical practice. Next Generation Sequencing (NGS) is one of the most significant advances in genomic technologies with regards to oncogenic biomarker discovery and diagnostics. NGS helps in biomarker discovery for identification of genetic diseases. HiSeq2500 and MiSeq Illumina sequencers are used for biomarker discovery on a large scale. Precision medicine is the use of an individual’s genomic information to offer targeted treatment to the individual. Next generation sequencing technology is a key driver of precision medicine and has improved its accuracy, speed, and cost. NGS is capable of rapidly sequencing large sections of a person's genome and aids in formulation of precision medicine.
Biomarker discovery benefits in early diagnosis and differentiating in disease types. Whereas, precision medicine enables in treatment of the diseases NGS places a vital role in booth the application, giving it an array of opportunity in future.
US is expected to lead the market in the North America region owing to increasing organic and inorganic growth strategies in the country. Moreover, increasing focus of market players in the US and grants & funds by NIH is one of the major driving factor. Therefore, considering the above mentioned factors the growth of the market in the country is likely to contribute largest share in the North America region during the forecast period.
Exhibit: Mexico Next Generation Sequencing Market Revenue and Forecasts to 2025 (US$ Mn)
NORTH AMERICA NEXT GENERATION SEQUENCING - MARKET SEGMENTATION
By Product
By Technology
By Application
By End User
By Geography
Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2017 | US$ 2,378.5 Million |
| Market Size by 2025 | US$ 10,733.0 Million |
| CAGR (2018 - 2025) | 20.7% |
| Historical Data | 2015-2016 |
| Forecast period | 2018-2025 |
| Segments Covered |
By Product
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
The North America Next Generation Sequencing Market is valued at US$ 2,378.5 Million in 2017, it is projected to reach US$ 10,733.0 Million by 2025.
As per our report North America Next Generation Sequencing Market, the market size is valued at US$ 2,378.5 Million in 2017, projecting it to reach US$ 10,733.0 Million by 2025. This translates to a CAGR of approximately 20.7% during the forecast period.
The North America Next Generation Sequencing Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Next Generation Sequencing Market report:
The North America Next Generation Sequencing Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Next Generation Sequencing Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Next Generation Sequencing Market value chain can benefit from the information contained in a comprehensive market report.
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