(PharmaNewsWire.Com, September 04, 2017 ) The North America NGS market which was worth $1.33 billion by the end of 2016 is estimated to reach $3.11 billion by 2021 at a CAGR of 18.6%.The Next Generation Sequencing market is categorized by product (software and services) and by applications. By product it is sub-segmented into whole targeted re-sequencing, genome sequencing, exome sequencing, de novo sequencing, RNA-Seq, ChIP-Seq and Methyl-Seq. By application it is sub-segmented into diagnostics, drug discovery, biomarker discovery, personalized medicine, and agriculture & animal research.
On the basis of geography, the North America market is segmented into USA, Canada & Mexico regions. Rise in growth of personalized medicine, development in pre-sequencing and NGS bioinformatics solutions and cloud computing, growth in North American population, increasing incidence of infectious diseases and cancer are some of the factors driving the market growth. In addition, anticipated decrease in the prices of genome sequencing due to development of rapid, high capacity whole genome sequencers by key players is expected to show an optimistic effect on the market penetration rates over the few years. However, the storage and management of enormous data generated by sequencing and its interpretation,high reliability on grants & funding from the government and fall in capital expenditure from academic institutions are the key challenges faced by North America next generation sequencing market
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