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Global Next Generation Sequencing Market – by Products and Services, Technology, Application, Region - Market Size, Demand Forecasts, Company Profiles (2018 - 2025)
Next Generation Sequencing Market – Segmented by Products and Services, Technology, Application, Region | Market Size, Growth, Drivers, Trends, Industry Structure and Forecasts, Competitive Intelligence, Company Profiles | MarkGenes
Next generation sequencing (NGS) is a DNA sequencing technology which has revolutionised genomic research. This technique is also known as high throughput sequencing. Using NGS, an entire human genome can be sequenced in a single day unlike the previous Sanger sequencing of genomes. It allows rapid sequencing and produces a million DNA molecules as well as RNA sequences by using a next generation sequencer. It offers high accuracy and speed with lower cost from the previous Sanger sequencing method. It has drawn huge attention from the scientific research community.
The global next-generation sequencing market was USD 4.18 billion in 2018 and is estimated to reach USD 11.06 billion at a CAGR of 14.92% during the forecast period
Growth by Region
North America dominates the market, followed by Europe owing to the increasing application of NGS in diagnostics and genomics research, advanced healthcare facilities, development of NGS data analysis solutions, increasing demand for high investments for genomics and proteomics, growing adoption of sequencing techniques and availability of research funding in the region.
Asia Pacific will witness high growth in next generation sequencing due to rising investment in India and China on R&D of NGS, increasing healthcare expenditure, increasing genomics and proteomics related research activities and improving healthcare infrastructure, government funding for research activities, and increasing number of academic and research institutes in emerging economies.
Drivers vs Constraints
Advancements in NGS platforms, declining NGS capital cost coupled with the decreasing cost of sequencing, and improving regulatory & reimbursement scenario for NGS-based diagnostic tests, rise in technological advancements in NGS. In addition, the growth in number of genome mapping programs throughout the world and increase in R&D investment drives the market growth. The use of NGS in developing medicines at genetic level, increased application of NGS in the field of oncology and transmissible diseases is projected to enhance the demand for next generation sequencing during the coming years. Other factors, such as the speed, cost and accuracy of NGS, efficient replacement for traditional technologies like microarrays, increase in genome mapping programmes and the rise in drug discovery applications demanding NGS technology contribute towards the growth of the market. On the other hand, factors like ethical and legal limitations, lacked of skilled professionals, the storage and management of enormous data generated by sequencing and its interpretation and standardization concerns in NGS diagnostics are restraining the market.
Industry Trends and Updates
In April 2018, Agilent Technologies acquired Lasergen, Inc. to grow in the diagnostics space and build a complete routine clinical NGS workflow.
In February 2018, HTG Molecular Diagnostics Inc., announced the issuance of Australian Patent. The patent was for its technology for “Methods of Co-detecting mRNA and Small Non-coding RNA.”
In February 2018, 10x Genomics, Inc., a company focused on accelerating genomic discovery, announced a global partnership ecosystem to accelerate customer adoption of 10x Genomics’ sequencing applications through Certified Service Providers and 10x Compatible Programs.
In January 2018, MedGenome expanded its NGS capabilities and forays into single-cell sequencing.
Browse other Healthcare reports at: https://markgenes.com/industry-reports/healthcare
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