Next-Generation Sequencing Market Overview
The global next-generation sequencing (NGS) market size is projected to grow substantially in the coming years. The market is growing due to the favorable regulatory scenario in North America, rising research & development activities in regions including Europe and North America, technological advancements in next generation sequencing in developed countries, rising utilization of the NGS technology by biopharmaceutical & pharmaceutical companies in developing countries. In addition to these, the low cost of NGS methods as compared to traditional sequencing methods in the industry is also resulting in the growth of the market.
Sequencing by litigation, ion-semiconductor sequencing, sequencing by synthesis, pyrosequencing, and single molecule real-time sequencing are the different technology types in the NGS domain. Among these, the largest next-generation sequencing market share was occupied by the sequencing by synthesis technology. This technology enables quick and accurate analysis of deoxyribo nucleic acid (DNA) and is also a cost-effective option. In terms of workflow, the domain is divided into next-generation sequencing services, next-generation pre-sequencing, and next-generation sequencing platforms.
The various applications of NGS include drug discovery, personalized medicine, diagnostics, and animal & agricultural research. The diagnostics and drug discovery applications are expected to account for considerable shares of the next-generation sequencing market in the near future. The reason for this is the availability of upgraded third-generation sequencing technologies which facilitate diagnostic procedures. At the present time, the NGS technologies have aided in reducing mortality rates by enabling accurate detection of genetic alterations. Apart from this, NGS technologies are being increasingly utilized for the drug discovery process, which will further drive the market in the coming years.
The different end users of the NGS technologies are hospitals, academic & research institutes, and biopharmaceutical & biotechnology companies. Out of these, the next-generation sequencing market was dominated by the academic & research institutes in the past and is further expected to account for a significant share of the market in the near future. The reason or this is the wide applications and studies that are being performed in research & academic institutes for the development of novel therapies. Furthermore, as the government is increasingly investing in healthcare organizations for upgrading the infrastructure of hospitals, the hospital category is also predicted to grow considerably.
When geography is taken into consideration, North America is predicted to account for the largest next-generation sequencing market share in the coming years, which is ascribed to technological advancements, healthcare expenditure, greater scientists’ compliance for different NGS devices, and presence of large number of research & academic institutes. The fastest growth is projected to be witnessed by the Asia-Pacific region due to the increasing proteomics and genomics-related research activities, rising healthcare expenditure, and enhancing healthcare infrastructure.
Next-Generation Sequencing Market Dynamics
Driver
The increasing adoption of the NGS technology by pharmaceutical & biopharmaceutical companies in developed countries is positively impacting the next-generation sequencing market growth. The rising prevalence of chronic diseases, including diabetes and cancer, and autoimmune diseases have resulted in an increased need for innovative treatments. Attributed to this, the companies are focusing on supplying superior quality instruments to pharmaceutical companies and research centers, which are engaged in the development of therapies for genetic diseases. The different NGS tools have further helped biopharmaceutical and pharmaceutical companies design therapies as per the nature of the disease.
Trend
The utilization of nanopore sequencing technology for developing NGS platforms is a key trend in the next-generation sequencing market. NGS offers high throughput sequencing to scientists and researchers along with reduced cost and high speed and specificity. Traditional sequencing methods, including the Sanger method, are expensive, slower, and need large amount of template DNA, and NGS has aided in overcoming these limitations with more accurate results.
Next-Generation Sequencing Market Competitive Landscape
Some of the key players operating in the global next-generation sequencing market include F. Hoffmann-La Roche AG, Agilent Technologies Inc., Biomatters Ltd., Illumina Inc., GATC Biotech AG, Thermo Fisher Scientific Inc., Oxford Nanopore Technologies Ltd, Pacific Biosciences, and Macrogen Inc.
