Market Research Report
Next Generation Sequencing Market Size, Share & Trends Analysis Report By Application (HLA Typing, Consumer Genomics), By Technology, By Workflow, By End Use, By Region, And Segment Forecasts, 2020 - 2027
|Published by||Grand View Research, Inc.||Product code||447144|
|Published||Content info||267 Pages
Delivery time: 2-3 business days
|Next Generation Sequencing Market Size, Share & Trends Analysis Report By Application (HLA Typing, Consumer Genomics), By Technology, By Workflow, By End Use, By Region, And Segment Forecasts, 2020 - 2027|
|Published: February 18, 2020||Content info: 267 Pages||
The global next generation sequencing market size is expected to reach USD 23.7 billion by 2027, expanding at a CAGR of 11.7%, according to a new report by Grand View Research, Inc. Numerous advantages offered by high throughput sequencing over other genetic technologies such as sanger-seq and microarray is one of the key driving forces of the market for Next Generation Sequencing (NGS). Furthermore, increasing availability of low input DNA sampling methods that decrease the overall operational costs is anticipated to accelerate the use of next generation sequencing across various research and clinical applications.
Technology offered by New England Biolabs that employs magnetic beads in the template assembly process is anticipated to significantly improve the sample preparation protocols for next generation sequencing. Furthermore, recent technological advancements such as the use of Laboratory Information Management System (LIMS) for genome library automation allow next generation sequencing in a single day at a reasonable cost. These advancements are anticipated to proliferate the number of users of next generation sequencing over the forecast period.
This technology has captured the attention of several companies and investors operating across various domains including basic research, drug discovery and development, reproductive health, and consumer genomics. In addition, the plummeting cost and the added value of next generation sequencing data over conventional ones is anticipated to positively impact the diversification of this technology in other clinical areas, resulting into a lucrative revenue growth.
Further key findings from the report suggest:
In 2019, oncology was estimated as the application with the largest revenue share in the market for next generation sequencing
This can be attributed to the fact that the technology has been largely adopted to decipher the link between cancer and genetics
Moreover, NGS-based genetic testing for cancer predisposition can significantly improve the health outcome and reduce the mortality rate, thereby driving adoption in this segment
The targeted sequencing segment has dominated the revenue share owing to its various benefits over the whole genome segment with respect to the depth of coverage and multiplexing capacities
Significant price drop in sequencing the whole genome is anticipated to drive the segment at a lucrative growth rate
Based on workflow, sequencing accounted for the major revenue share in 2019 in the market for next generation sequencing and is anticipated to maintain its dominance over the forecast period
Being a key step, the end-users are making major investments in the seq-step, compared to sample preparation and data analysis
Moreover, the key developers are engaged in introducing new seq-platforms with enhanced capabilities and efficiency. These factors have led the segment in terms of revenue over the past years
Academic research entities are the largest end-users in terms of revenue generation owing to the high penetration of seq-technology in research activities
On the other hand, this technology is making continued growth in clinical research and within clinical settings
A substantial number of researchers are engaged in conducting translational research to accelerate the adoption of seq-technology in clinical diagnostics
North American accounted for the maximum revenue share owing to the presence of integrated platform base in U.S.
Presence of Illumina, the major player of next generation sequencing market for U.S. is another major factor that has driven the revenue share of this region in the past years
Asia Pacific is projected to mark fastest growth owing to the increase in number of domestic developers in China coupled with the expansion of molecular diagnostics area
Some major participants in the market for next generation sequencing are Illumina Inc.; F Hoffman-La Roche Ltd.; QIAGEN; Thermo Fisher Scientific Inc.; and BGI
The companies are collaborating with diagnostic players to extend the use of their platforms in clinical settings
For instance, Illumina has partnered with China's KingMed Diagnostics for use of its platform in oncology and hereditary disease testing.