The worldwide market size for Next Generation Sequencing (NGS) market is estimated to grow at a CAGR of 18.4% during the forecast period. Next generation sequencing (NGS), also known as high-throughput sequencing is a DNA sequencing technology. It is a cost effective, fast, flexible, and high throughput providing technology than older technologies such as Sanger’s sequencing method.
The next generation sequencing technology is evolving at a rapid rate due to rising incidences of infectious diseases and cancer at the global pace. The growing adoption of next generation sequencing technologies to manufacture personalized medicines by studying the genetic mutations to diagnose and treat the genetic diseases are anticipated to augment the demand for next generation sequencing during the coming years. Moreover, growing investments in research and development in the field of proteomics, and genomics is expected to propel the growth of global next generation sequencing market. Moreover, the increasing development in pre-sequencing and rising adoption of personalized medicines are expected to generate immense opportunity for the next generation sequencing market over the forecast period.
The global market for next generation sequencing is segmented by application, technology, products, end user, and region. By application, the global next generation sequencing market is categorized as, drug discovery/personalized medicine, genetic screening, diagnostics/infectious diseases, agricultural & animal research, and others. The drug discovery/personalized medicine segment is estimated to account major share in global next generation sequencing market by application in 2017. The increasing demand of next generation sequencing base test for infectious diseases and cancer, and rising focus on developing and providing next generation sequencing- based diagnostic tests are the major factors contributing towards the high market share of the segment in the global market. Moreover, the growing research and development activities globally are significantly contributing towards the growth of market.
By Technology, the global next generation sequencing market is further sub segmented into Whole Genome Sequencing, Targeted Re-Sequencing, Whole Exome Sequencing, RNA Sequencing, Chip Sequencing, De Novo Sequencing, and Methyl Sequencing. By technology, the targeted sequencing & Re-sequencing segment accounted major share in global next generation sequencing market. The targeted sequencing reduces the sequencing cost, and it is target specified and also requires smaller dataset. Moreover, increasing demand target specific genomic studies s expected to propel the growth of segment in the global next generation sequencing market.
By products, the global next generation sequencing market is further categorized into instruments, reagents & consumables, and services. By consumables, the global next generation sequencing market is further segmented into sample preparation consumables, and other consumables. The sample preparation sample includes quality control consumables, library preparation, DNA fragmentation, end repair, A-tailing, and size selection etc. On the basis of services, the global next generation market is segmented into data management services, and sequencing services. The sequencing services segment includes, Targeted Re-Sequencing, RNA Sequencing Chip-Seq, Methyl-Seq, De Novo Sequencing etc. where, the data management services includes, NGS storage, management, NGS data analysis software & workbenches, and NGS data analysis services.
On the basis of end user, the global next generation sequencing market is further segmented into healthcare institutions, pharmaceutical & biotechnology companies, research and academic centers, and others. By end user, the research and academics segment accounted major share in global next generation sequencing market. High application of next generation sequencing tools in research is the one of the key factors contributing towards the high market share of the segment. The hospitals and clinics segment is expected to register high CAGR over the forecast period owing to increasing collaboration between hospitals and biotech and pharmaceutical companies to develop advanced test kits for diagnosis of diseases.
By geography, the global next generation sequencing market is segmented into five major regions, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North America counted major share in global next generation sequencing market. The high R&D investment for proteomic and genomic sequence determination for biomarkers research, and availability of superior technological healthcare framework are the major factors contributing towards shares of region in global next generation sequencing market. The Asia Pacific is expected to grow at high rate in the upcoming years owing to increasing medical awareness, escalating investment for development of healthcare, and accelerated economic growth.
Some of the key players operating in global next generation sequencing market are Thermo Fisher Scientific Inc., Illumina, Inc., Roche Holding AG, QIAGEN N. V., BGI (Beijing Genomics Institute), Oxford Nanopore Technologies, Ltd., Pacific Biosciences of California, Inc., GATC Biotech AG, Perkin Elmer, Inc., Agilent Technologies, Inc., Macrogen, Inc., and Eurofins Scientific among others.