Increasing prevalence of cancer cases is driving the market of next generation sequencing over the forecast period.Published Date: Mar 2018
According to a new market research study titled ‘Next Generation Sequencing Market to 2025 – Global Analysis and Forecasts by Product, Services, Applications, and End-Users, the global next generation sequencing market was valued at US$ 5,731.3 Mn in 2017 and is estimated to reach US$ 26,501.2 Mn by 2025. The report highlights the trends prevalent in the global next generation sequencing market and the factors driving the market along with those that act as deterrents to its growth.
The global next generation sequencing market is a matured market in the developing countries as well as developing economies worldwide. The necessity of genetic analysis is constantly increasing in recent days due to the reliable and accurate results being offered by the technique. The demand for next generation sequencing is experienced mostly from academic institutions followed by hospitals & clinics. Among the applications, the demand for next generation sequencing is significantly high in diagnostics, drug discovery, followed by precision medicine. Furthermore, advancements in sequencing technologies and declining cost of sequencing is expected to be a driving factor for the next generation market.
Modification and automation of this process continued to increase sequencing data and time reduction. Thereby allowing researchers to reach major milestones in the Human Genome Project. NGS makes sequence based gene expression analysis a “digital” alternative to analog techniques. It also aids in quantifying RNA expression with the breadth of a microarray and the resolution of qPCR. Advancement in genome sequencing has made the sequencing easy and accurate. These technological advancement are likely to grow the market in near future.
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. In recent years, the cases of cancer has been increasing tremendously and the trend is anticipated to remain the same in the upcoming years. Due to preference of better technologies for detection of fatal disease, the demand for next generation sequencing is anticipated to witness constant growth in the upcoming years.
The market for next generation sequencing is well established in the region of North America, owing to the awareness regarding medical practices and technological developments in the process of next generation technology. Various market players have been focusing towards shifting their customer base in North America. For instance, Illumina, Inc. along with Telegraph, established a company called Verogen. The company would be entitled to provide Illumina’s forensic products to the customers in the US.
The key players operating in the field of Next Generation Sequencing worldwide include PerkinElmer, Inc., Oxford Nanopore Technologies, Ltd., Beijing Genomics Institute, Macrogen, Inc., F. Hoffmann-La Roche AG, Agilent Technologies, Eurofins Scientific, Qiagen N.V., Thermo Fisher Scientific, and Illumina, Inc. among others
The report segments the global next generation sequencing market as follows:
Global Next Generation Sequencing Market – By Product
Pacbio Rs II & Sequel Systems
RNA sequencing services
Whole Genome Sequencing Services
Whole Exome Sequencing Services
Targeted Sequencing Services
Chip Sequencing Services
Other Sequencing Services
Data Management & Analysis Services Market
NGS Data Analysis Market
NGS Data Analysis Software & Workbenches
Other Data Management & Analysis Services
Sample Preparation Consumables
DNA fragmentation, End Repair, A-Tailing, and Size Selection Kits & Reagents
Library Preparation & Target Enrichment Kits & Reagents
Quality Control Kits & Reagents
Other NGS Consumables
Global Next Generation Sequencing Market – By Technology
Resequencing & Targeted Sequencing Oil & Gas
DNA-based Resequencing & Targeted Sequencing
RNA-based Resequencing & Targeted Sequencing
Other Sequencing Technologies
Global Next Generation Sequencing Market – By Application
Global Next Generation Sequencing Market – By End-User
Academic & Research Institutes
Pharmaceutical & Biotechnology Companies
Hospitals & Clinics
Other End Users
Global Next Generation Sequencing Market – By Geography
Asia Pacific (APAC)
Middle East & Africa (MEA)
South America (SAM)