Market Insights
There are various diseases that have their roots in genetics such as cancer, diabetes, Alzheimer’s, arthritis, heart disease, etc. To discover viable treatment for these diseases, researchers are looking to discern how genes work. The next-generation sequencing market has been gaining impetus due to the fact that next-generation sequencing is integral to the field of genomics. The NGS technologies are implemented for several applications, including whole-genome sequencing, de novo assembly sequencing, resequencing, and transcriptome sequencing at the DNA or RNA level. The successful application of next-generation sequencing can lead to predicting genes, protein-coding regions, and pathways.
Illumina, Helicos Biosciences, Thermo Fisher Scientific, Roche, Pacific Bioscience, ABI Life Technologies, and Oxford Nanopore are some of the companies that are implementing different NGS technologies which in turn will augment global next-generation sequencing market which is estimated to reach at a CAGR of 18.05% over the forecast period and USD 20,347.45 Million by 2025.
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Increasing awareness, employment of various growth strategies and ongoing technical advancements are expected to provide the market with ample opportunity for growth. However, the high initial cost of implementing technologies, and the requirement for storage of large volumes of data as well as a lack of skilled workforce to run the technology are challenges to the growth of the market.
Market Segmentation
The global next-generation sequencing market has been segmented based on workflow, application, technology, and end user. On the basis of workflow, the market for next-generation sequencing is segmented based on data analysis, sequencing, pre-sequencing. Additionally, the market on the basis of application, is segmented into agrigenomics & forensics, clinical investigation, consumer genomics, epidemiology & drug development, human leukocyte antigen typing or immune system monitoring, metagenomics, reproductive health, oncology. The global market for next-generation sequencing is also covered based on the technology segment which is further split into whole genome sequencing and whole exome sequencing, targeted sequencing & resequencing. On the basis of end users, the market for next-generation sequencing is segmented based on pharmaceutical & biotechnology companies, diagnostic laboratories, hospitals & clinics.
Factors like increasing use of next-generation sequencing in different applications and rise in the number of genome mapping programs support the next-generation sequencing market growth. The performance of the next-generation sequencing market has also been studied for the past and current years. Additionally, the next-generation sequencing market report provides analysis of these segments. The next-generation sequencing market segmental analysis provided in the report offers major details about the next-generation sequencing market performance and future.
Regional Analysis
The global next generation sequencing market is segmented into key regions which include the Americas, Asia Pacific, Europe, and the Middle East & Africa. North America in the Americas region is slated to lead the market with the largest share due to the high competition between market players in the region as well as the rising demand for next-gen sequencing in the healthcare sector of developed economies such as the US and Canada. Moreover, the presence of a significant healthcare sector in the region combined with growing investments in healthcare toward the development of therapies for chronic diseases will push growth during the forecast period.
The European region has the second largest market due to the significant R&D activities that take place in the region with regards to various fields including healthcare. The presence of pioneering next-gen sequencing technology market players are expected to make an impact on the market. However, growth here is restrained due to regulations and fragmentation of the market across Europe.
Competitive Landscape
The next-generation sequencing market is supported by increasing demand for personalized medicine. The population growth around the world and increasing demand of next-generation sequencing market based services and products also support the market growth. However, the next-generation sequencing market growth can be affected due to concerns regarding large data management. The report covers all such details which will help companies in the next-generation sequencing market to strengthen their business plan and improve their product portfolio. The next-generation sequencing market research report also provides company profiles of major companies. The company profiles of many organizations operating in the next-generation sequencing market report highlights crucial details like company size, revenue growth, and details of mergers and acquisitions taking place in the next-generation sequencing market. New companies and established businesses can plan their strategies based on this data provided in the next-generation sequencing market research report.
Key Players
Oxford Nanopore Technologies, Ltd., BGI, Pacific Biosciences of California, Inc., PerkinElmer, QIAGEN N. V., Eurofins Scientific, Agilent Technologies, Macrogen Inc, Illumina, Inc., and Thermo Fisher Scientific, Inc. are among the notable market players that have been included in MRFR’s competition tracking of the global next generation sequencing market.
Industry News
Recently, Thermo Fisher Scientific launched its Ion Torrent Genexus System, the first fully integrated, next-generation sequencing platform that delivers results economically in a single day. This turnkey solution is designed to enable local hospitals to adopt NGS testing.
According to a study published in Clinical Lung Cancer local hospitals are severely challenged when it comes to providing NGS-based genomic testing at present even though hospitals are where most patients are treated. Due to limitations to NGS adoption, such as product complexity and cost, the vast majority of local molecular laboratories rely on single-gene tests. Some laboratories even have to outsource testing for more comprehensive NGS analysis as single-gene tests fail to provide a complete genomic profile of a tumor. Ion Torrent Genexus System is expected to solve many of the problems faced by hospitals when it comes to gene testing thus increasing growth scope for next-generation sequencing.
LIST OF TABLES
TABLE 1 GLOBAL NEXT GENERATION SEQUENCING MARKET SYNOPSIS, 2020-2027
TABLE 2 GLOBAL NEXT GENERATION SEQUENCING MARKET ESTIMATES & FORECAST, 2020-2027 (USD MILLION)
TABLE 3 GLOBAL NEXT GENERATION SEQUENCING MARKET, BY TYPE OF SEQUENCING, 2020-2027 (USD MILLION)
TABLE 4 GLOBAL NEXT GENERATION SEQUENCING MARKET, BY PRODUCT TYPE, 2020-2027 (USD MILLION)
TABLE 5 GLOBAL NEXT GENERATION SEQUENCING MARKET, BY APPLICATION, 2020-2027 (USD MILLION)
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