NGS Market To Witness Enhanced Penetration In Treatment Monitoring Of Chronic Diseases Till 2024: Grand View Research, Inc.
According to report published by Grand View Research, Inc. global next generation sequencing market revenue is anticipated to reach USD 14.0 billion by 2024, Growing adoption of next generation sequencing techniques for prognosis and treatment monitoring of different chronic diseases .
San Francisco, California, United States – July 21, 2016 /MarketersMedia/ —
The global next generation sequencing market will be worth $14.0 billion by 2024, according to report by Grand View Research, Inc. Growing adoption of next generation sequencing techniques for prognosis and treatment monitoring of different chronic diseases such as cancer and other pathogenic infections is one of the high impact rendering driver for progress in this industry.
Application of genome and exome sequencing in the field of cancer research for companion diagnostics and biomarker development are expected to contribute towards the growth of this market throughout the forecast period.
Moreover, anticipated exponential decrease in the prices of genome sequence determination coupled with the launch of novel platforms and whole genome sequencers by major market players is expected to have a significant positive impact on the market penetration of various NGS applications.
Access full research report: http://www.grandviewresearch.com/industry-analysis/next-generation-sequencing-market
Key findings
• Out of the different applications served by NGS technology, Oncological applications accounted for the dominant share owing to phase-resolved and unambiguous results obtained by using single assay systems, and analysis program. However, the use of HLA typing in gaining insights for organ rejection, organ matching, and immune disorders by understanding intricacies of less accessible genetic sequence structures is anticipated to provide scientists with new avenues for medical research over the forecast period.
• Depending on the approaches by which the number of base pairs can be determined in a given sequencing read cycle, the technologies can be segmented as targeted sequencing & resequencing, whole genome, and whole exome sequencing. Targeted resequencing dominated the market with a revenue share of over 70%owing to the benefits associated with implementation of the technique such as lower turnaround time and more manageable data sets.
• Amongst workflow steps involved, NGS data analysis encompasses the final phase of data storage and analysis of large amounts of sequenced data which is generated. This segment is expected to witness growth in demand in tandem to growth in demand for NGS through to 2024.
• Academic R&D usage of NGS accounted for the largest share with respect to market revenue by end uses and is anticipated to maintain its dominance owing to higher adoption of this technology and platforms in university projects related to molecular, genetic & proteomic biology, and drug discovery/development.
• North America dominated the market in 2015, generating over 46% of total revenue. Presence of the key participants operating in this region which are involved in development of novel algorithms and software in order to enhance data analysis is attributive for the large share of North America in industrial revenue. Demand for whole genome sequencing services for disease progression monitoring is also expected to drive industrial progress.
• Asia Pacific is estimated to witness the fastest growth over the forecast period owing to the expected routing of a considerable portion of whole genome sequencing requirements through a couple of the world’s largest sequencing facilities present in the region and potential presence of unmet demands by the research institutions with respect to sequence determination techniques and data analysis algorithms.
• This market is witnessing high level of competitive rivalry, consequently leading to constant endeavors carried out by the prominent players in order to maintain the position and share in the industry. These endeavors include launch of novel products, providing services and products in different economies across the globe, broadening of the product portfolio with respect to various application areas, and acquisition of the smaller entities in attempts to enhance product portfolio. For instance, Qiagen acquired solutions unit of Enzymatics in order to enhance the product portfolio with respect to reagents needed in preparatory steps.
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Market Segments:
Outlook, by Application (Revenue, USD Million, 2013 – 2024)
• HLA Testing
• Prenatal Testing
• Oncology
• Idiopathic Diseases
• Infectious Diseases
Outlook, by Technology (Revenue, USD Million, 2013 – 2024)
• Whole Genome Sequencing
• Whole Exome Sequencing
• Targeted Sequencing and Resequencing
Outlook, by Workflow (Revenue, USD Million, 2013 – 2024)
• NGS Pre-Sequencing
• NGS Sequencing
• NGS Data Analysis
o NGS Primary Data Analysis
o NGS Secondary Data Analysis
o NGS Tertiary Data Analysis
Outlook, by End-use (Revenue, USD Million, 2013 – 2024)
• Academic Research
• Clinical Research
• Hospitals & Clinics
• Pharma & Biotech Entities
• Other users
Regional Outlook (Revenue, USD Million, 2013 – 2024)
• North America
o U.S.
o Canada
• Europe
o Germany
o UK
• Asia Pacific
o China
o Japan
• Latin America
o Brazil
• MEA
o South Africa
Access press release of this research report: http://www.grandviewresearch.com/press-release/global-next-generation-sequencing-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services.
For more information, please visit http://www.grandviewresearch.com/industry-analysis/next-generation-sequencing-market
Contact Info:
Name: Sherry James
Email: sales@grandviewresearch.com
Organization: Grand View Research, Inc.
Address: 28 2nd Street, Suite 3036, San Francisco, California, 94105
Phone: 1-415-349-0058
Release ID: 124501
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