PUBLISHER: Grand View Research | PRODUCT CODE: 1529849
PUBLISHER: Grand View Research | PRODUCT CODE: 1529849
The global next-generation sequencing library preparation market size was estimated at USD 3.64 billion in 2030 and is expected to grow at a CAGR of 13.0% from 2024 to 2030, owing the to increasing prevalence of genetic diseases, decreasing costs of sequencing, and rising usage of NGS in disease diagnostics. Moreover, numerous market players offer a broad spectrum of solutions for NGS library preparation to suit the specific requirements of NGS-based analysis.
Advancements in sequencing technology boost the demand for disease panels. NGS libraries are prepared by using nucleotide amplification and sequencing of a specific gene that is causative of a disease condition. The disease diagnosis panels are precisely designed to analyze specific genetic characteristics of a disease condition. For instance, in February 2022, the OncoDNA introduced OncoDEEP kit for analysis of translocations, somatic variants, genomic signatures and predictive biomarkers to aid cancer therapy. The kit also effectively measures tumor mutational burden, microsatellite instability, and loss of heterozygosity.
The COVID-19 pandemic had a significant impact on the adoption of sequencing technology for metagenomics and diagnostics. Furthermore, several key players launched their NGS-based diagnostic tests for COVID-19 and other viral infections. For instance, in April 2021, QIAGEN N.V. released its first-ever QIAseq SARS-CoV-2 diagnostic kit, to be used for the enrichment of the COVID-19 genome and library preparation solution to yield a sequence of the SARS-CoV-2 genome.
Moreover, the growing incidence of diseases and the demand for novel drug discovery, collectively foster the growth of the market. For instance, in September 2022, IDT launches an NGS library preparation solution, xGen monkeypox virus amplicon panel for the precise detection of monkeypox viral infection by genotyping using viral DNA by construction of an NGS library.
Whole-Exome Sequencing is essentially used for the detection of rare genetic disorders by detecting expressive biomarkers that feature mutations, that are causative of various disease conditions. Further, the Whole-Genome Sequencing (WGS) is used for the detection of novel genetic mutations in rare diseases. For instance, in January 2022, researchers at the University of Stanford secured a first-ever Guinness record for a sequencing technique by sequencing a whole human genome in the least turnaround time with a record diagnostic rate for rare disease diagnosis.