World News: 15:48 GMT Tuesday 3rd December 2019. [Research and Markets via Globe Newswire via SPi World News]
Dublin, Dec. 03, 2019 (GLOBE NEWSWIRE) -- The report has been added to offering.The Genetic Sequencing Test Market was valued at USD 3,750 Million in the year 2018.Increase in number of old age population, increase in number of diseases, decrease in the cost of sequencing, increasing need for better healthcare are the basic reasons behind increased demand for the global sequencing market.The market will continue to grow as the leading companies launch new sequencing products with increased efficiency and less time consumption. Therefore, usage by healthcare set ups, research institutes, biotechnology centres is increasing. These markets are influenced by the cost factor for the end users. Also developing countries, which suffer from lack of funding, are not able to use this technology to the fullest.On the basis of Technology, the segments are First Generation Sequencing and Next Generation Sequencing. The older technology is costly as well as time consuming but it is still considered as Gold Standard to validate the result obtained by next generation sequencing. Next Generation Technology provides long reads which have drastically reduced the cost and result annotation time.Among the country, United States of America currently leads the genetic sequencing market owing to considerable investments being done in healthcare sector. Also, presence of leading market players like Illlumina in this region makes the technology more readily available. Moreover, countries like China, India, Germany, Netherlands, Saudi Arabia are expected to grow faster owing to increased investment in the research and development.Global Genetic Sequencing Test Market (Actual Period: 2014-2018, Forecast Period: 2019-2024)
Country Analysis - U.S., India, China, France, Rest of the World (Actual Period: 2014-2018, Forecast Period: 2019-2024)
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Globe Newswire: 15:48 GMT Tuesday 3rd December 2019
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