Next Generation Sequencing Market to Reflect Impressive Growth Rate by 2023

Next generation sequencing (NGS) also known as high-throughput sequencing enables scientists to sequence and assemble billions of short DNA reads. The advent of next generation sequencing technologies has brought significant changes in the sequencing process by providing high throughput, speed, flexibility and reduced sequencing cost over thousand folds. NGS has ability to generate hundreds of gigabases of nucleotide sequence data in a single sequencing run. The technology is emerging at a rapid rate due to its growing adoption in clinical applications as it allows scanning of whole genomes or targeted genomes in less span of time. In addition, reduction in cost of sequencing has also expanded the usage of next generation sequencing in variety of clinical applications. The technique has imparted its usage in various clinical applications such as cancer, inherited genetic disorders, HLA typing and identification of infectious diseases. For instance, NGS has been used for tracing hospital acquired infections and tuberculosis outbreaks.

The market for next generation sequencing can be segmented based on technology, application, end-users and geography. The application section can be categorized into drug discovery, personalized medicines, biomarker discovery, diagnostics and others (agriculture, animal, marine and other studies). The technology section of the market could be subdivided into sequencing by synthesis, ion semiconductor sequencing, pyrosequencing, sequencing by ligation and single molecule real time sequencing. The next generation sequencing market can also be analyzed based on the end user segment including hospitals and clinics, research institutions and pharmaceutical and biotechnology companies. It is witnessed that more than 65% of the next generation sequencing revenue is generated from academic institutions, biopharmaceutical companies and government research institutes. Geographically, the market is segmented into North America, Europe, Asia-Pacific, Latin America (LATAM), and Middle East and Africa (MENA). Of all the geographies, North America accounted for the largest market share in 2014 followed by Europe. However, during the forecast period Asia-Pacific region is anticipated to record highest growth owing to market saturation in developed regions. Furthermore, technological innovation, increasing drug discovery initiatives by healthcare companies, increasing adoption of innovative models and huge capital investment by pharmaceutical and biotechnology companies are some of the key factors expected to drive the growth of next generation sequencing market in Asia.

Currently, the next generation sequencing market is consolidated with very few market players due to involvement of extremely complicated technologies and the low target audience for the systems. The expensive next-generation sequencing systems may exceed a cost of millions of dollars for installation, maintenance, reagents and output analysis. Most respondents have suggested sequencing as a service business rather than an investment for in-house research. Introduction of bench-top sequencers enabling ease of use to researchers is also expected to push the market growth further. Outsourcing sequencing is expected to remain a major contributor to the revenue generation in the coming years. Response gathered from research facilities suggest that purchase of these sequencing platforms may demonstrate actual growth post reduction in the sequencing costs below USD 1000 as suggested by several manufacturers. True potential of this technology lies in the personalized medicine and sequencing genomes of individuals. Furthermore, increasing initiatives by government bodies for genomics research would also boost the adoption of high-throughput sequencing platform.

Some of the major players operating in the global NGS market are Agilent Technologies, Life Sciences Corporation (Roche Holding Ag), Genomatix Software Gmbh, Illumina, Inc., Gatc Biotech Ag, Dnastar, Inc., Life Technologies Corporation, Oxford Nanopore Technologies, Ltd., Perkin Elmer, Inc., Qiagen N.V., Partek Incorporated, Macrogen, Inc., Knome, Inc., and Genomatix Software Gmbh.

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Genomics Personalized Health Market : Technological Breakthroughs, Competitive Landscape & Industry Analysis By 2024

Transparency Market Research (TMR) observes that the competitive rivalry is extremely high in the global genomics personalized health market. The growing demand for technologically advanced tests has brought in a lot of investment in the area of research and development. The leading players in the global market held a share of about 65% in the global genomics personalized health market in 2016. This cream of the crop included companies such as QIAGEN, F. Hoffman-La Roche Ltd., Illumina Inc., and Thermofisher Scientific.

According to the research report, the global genomics personalized health market is likely to be worth US$25,112.5 mn by the end of 2025 from US$7,243.0 mn in 2016. During the forecast years of 2017 and 2025, the global market is expected to register a CAGR of 14.9%. Out of the various technologies, the next-generation sequencing (NGS) platform segment is expected to dominate the global market as it offers improved efficiency. From a geographic point of view, North America is projected to dominate the global market over the forecast period. This regional market is slated to acquire a share of 41.6% by the end of 2025. The strong presence of key players in the region is expected to bolster growth.

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Increasing Demand for Biomarkers Benefits Global Genomics Personalized Health Market

The global genomics personalized health market is being driven by the increasing investments in research and development of biomarkers. These are used for identification of physiological state of an organism of a certain disease. The growth of the pharmaceutical industries, high incidence of chronic diseases, and prediction and assessment of treatment response has augmented the demand for genomics personalized health solutions. The global market is also being favored by the continuous innovation in technology with the booming molecular biology sector. Design and development of modern test methods that come with several advantages over conventional ones has bolstered the growth of the global market. Additionally, the variety of platforms offered by genomics personalized health market through various types of technologies has propelled market growth.

The increasing government investment n diagnostic health care across the globe has been identified as a key growth driver for the global market. The high prevalence of chronic diseases such as diabetes, cancer, and others has upped the demand for various types of diagnostics, which, in turn, has benefitted the market. Analysts note that the sudden rise in the prevalence of infectious diseases such as Ebola has offered players in the global genomics personalized health market ample of opportunities to introduce worthy solutions. Lastly, the booming geriatric population across the globe is expected to be in great need of personalized medications, thereby supporting the global market in a significant way.

Lack of Supportive Reimbursement Policies to Act as an Impediment

On the flip side, the global genomics personalized health market is being restrained by a few factors. The complicated regulatory frameworks that cause delay in approval of newer methods is anticipated to be a major hindrance in the growth of the global market. Furthermore, the lack of supportive reimbursement policies are also expected to dissuade end users from opting for personalized health care. This trend will be emphasized in the emerging economies, where the overall healthcare sector is still in its development phase. Additionally, lack of awareness about diagnostic techniques and a wide range of diseases and disorders is also likely to hamper market growth over the forecast period.

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