Next Generation Sequencing Market is Growing at a CAGR of 22.7% to Reach $14.6 billion by 2025: Meticulous Research
Next Generation Sequencing Market by Type (Consumables, NGS Platform, Software), Sequencing Type (Whole Genome, Targeted), Technology (Sequencing by Synthesis, Sequencing by Ligation), Application (Clinical, Research), End User – Global Forecasts to 2025
Pune, India – January 16, 2020 /MarketersMedia/ —
Changing landscape of genomic medicine, growing incidence of genetic disorders, and improved high throughput capabilities of next generation sequencing, has made sequencing procedure imperative to provide tailored clinical treatment and develop novel drugs. Further, miniaturization of sequencing process, various technological additions, and consistently falling costs have added new dimension to sequencing procedures strongly impacting the growth of next generation sequencing market. Meticulous Research® in its latest publication on Next Generation Sequencing Market estimates that the global next generation sequencing market will increase at a CAGR of 22.7% from 2019 to 2025 to reach $14.6 billion by 2025.
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Growth of the global next generation sequencing market is mainly attributed to technological advancements in sequencing procedures, surge in genome mapping programs, and increase in drug discovery platforms demanding NGS technology. In addition, increasing number of government initiatives for large-scale genomic sequencing projects and emergence of cloud computing as a potential data management service offer significant growth opportunities for the players operating in the next generation sequencing market.
Geographic Review::
North America is estimated to command the largest share of the global next-generation sequencing market in 2019, followed by Europe, Asia-Pacific, Latin America, and Middle East & Africa. However, Asia-Pacific region is expected to register the fastest growth during the forecast period, owing to accelerated economic growth of many countries in this region; growing cancer incidence; and rising focus of governments towards improvement of healthcare sector. In addition, government initiatives and investments in large-scale genome sequencing projects to design targeted medicines are the other key factors propelling the growth of the Asia-Pacific next-generation sequencing market.
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Key Topics Covered in This Report:
1. Introduction
1.1. Market Ecosystem
1.2. Currency and Limitations
1.2.1. Currency
1.2.2. Limitations
1.3. Key Stakeholders
2. Research Methodology
2.1. Secondary Research
2.2. Primary Research
3. Executive Summary
4. Market Insights
4.1. Introduction
4.2. Market Dynamics
4.2.1. Drivers
4.2.1.1. Technological Advancements in Sequencing Procedures
4.2.1.2. Surge in Genome Mapping Programs
4.2.1.3. Increase in Drug Discovery Platforms Demanding NGS Technology
4.2.2. Restraints
4.2.2.1. Lack of Skilled Professionals
4.2.2.2. Ethical & Legal Issues Related to NGS Based Diagnosis
4.2.3. Opportunities
4.2.3.1. Growing Government Initiatives for Large-Scale Genomic Sequencing Projects
4.2.3.2. Emergence of Cloud Computing as a Potential Data Management Service
4.2.4. Challenges
4.2.4.1. Sample Quality and Difficulty in Management of Large Volume of Sequencing Data
4.2.4.2. Interpretation of Complex Data
4.2.5. Trends
4.2.5.1. Partnerships and Collaborations by Manufacturers for Technological Advancements in NGS
4.2.5.2. Development of Portable Sequencing Technologies
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To provide efficient analysis, Meticulous Research has segmented this market on the basis of Product Type (Consumables, NGS Platforms/Instruments, Software, Services) Sequencing Type [Whole Genome Sequencing (WGS), Whole Exome Sequencing (WES), Targeted Sequencing], Technology [Sequencing by Synthesis (SBS), Ion-Semiconductor Sequencing, Single Molecule Real Time (SMRT), Sequencing by Ligation (SBL), Nanopore], Application (Clinical, Research), End User (Clinical Diagnostic Laboratories, Pharma & Biotech, Academic & Research Institutes) and Geography (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa).
Wherein, geographically, North America commanded the largest share in this market followed by Europe. The major share of North America is mainly attributed to the well-established healthcare systems in the region, growing research in the field of genomics, greater adoption of advanced technologies, high level of awareness about new technologies, and growing incidence and prevalence of genetic disorders.
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In terms of product, the consumables segment accounted for the largest share of the next-generation sequencing market in 2019. The large share of this segment is mainly attributed to increasing use of sequencing reagents and kits for diagnostic procedures in diagnostic laboratories and recurrent use of consumables while sequencing procedures.
In terms of sequencing type, targeted sequencing segment accounted for the largest share of this market in 2019. The key factors contributing to the growth of this segment includes higher sensitivity of technique to call variants, low sequencing costs as compared to other sequencing technologies, and generation of manageable data volumes with reliable results.
On the basis of technology, sequencing by synthesis (SBS) segment accounted for the largest share of this market in 2018 due to high accuracy in DNA sequencing and highest yield of error free throughput. In addition, most of the key players are utilizing this technology in their products, which is a major factor driving the growth of this segment.
Key Players::
The report provides competitive intelligence in terms of financials, growth strategies, product portfolios, and geographical presence on some of the key players in this market including Illumina, Inc. (U.S.), Agilent Technologies, Inc. (U.S.), Bio-Rad Laboratories, Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), Qiagen N.V. (Netherlands), PerkinElmer, Inc. (U.S.), F. Hoffmann-La Roche AG (Switzerland), 10X Genomics, Inc. (U.S.), Pacific Biosciences of California, Inc. (U.S.), Oxford Nanopore Technologies Ltd (U.K.), Beckman Coulter, Inc. (U.S.), GenapSys, Inc. (U.S.), New England Biolabs, Inc. (U.S.), PierianDx (U.S.), and BGI Genomics (China).
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