The global next-generation sequencing (NGS) market is projected to expand at a noteworthy CAGR between 2017 and 2021. NGS technology is increasingly replacing alternate sequencing methods such as Sanger sequencing in research laboratories and academic institutes. Widening scope of application of the technology is estimated to stimulate market growth.
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Launch of novel, efficient, and rapid genomic sequencing procedures is expected to help the market gain significant impetus. Development of new products and services by key players and their approval by regulatory bodies such as Conformité Européene or (CE) and U.S. Food and Drug Administration (FDA) can support market growth. For instance, in November 2017, the U.S. FDA approved IMPACT, a tumor profiling test by Memorial Sloan Kettering (MSK) Cancer Center. This test uses NGS to rapidly detect 468 unique gene mutations.
Increasing uptake of advanced platforms for personalized medicine development by medical analysis at a genetic level is anticipated to propel the market. Besides this, emerging trend of automation in pre-sequencing protocols can stoke the growth of the market. Rising organization of workshops and seminars for boosting awareness regarding NGS services and products can also positively influence the market.
Extensive R&D projects in the fields of transcriptomics, metabolomics, and proteomics are likely to play a vital role in the development of the market. For their operation, genomics and proteomics take help of a large array of structural information that needs to be gathered and arranged by determination of sequence and subsequent integrated data analysis.
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NGS technology helps in gaining insights into the genetic organization of various organisms. This has increased the inclination of drug developers and scientists towards the technology, thereby driving the market. Development of products that encompass the entire workflow, from sampling to report generation after data interpretation, is poised to augment the market. On the other hand, lack of professionals with adequate skills can inhibit market growth. Moreover,storage difficulties related to sequencing data can act as a major roadblock in the development of the market. Nevertheless, implementation of cloud technology with NGS technology can open new avenues for market participants.
The global next-generation sequencing (NGS) market has been segmented based on application, product, and geography. On the basis of product, the market has been classified into exome sequencing, targeted sequencing, and transcriptome sequencing. In terms of application, the market has been categorized into DNA-protein interactions (ChIP-sequencing), genome sequencing, and genome resequencing.
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From a geographical standpoint, the next-generation sequencing (NGS) market has been divided into Asia Pacific, North America, and Europe. North America will command a substantial share in the market throughout the forecast period (2017–2021). The growth of the market can be attributed to booming healthcare IT sector, declining cost of sequencing per base pair, and growing investments in the field of proteomics and genomics.
Asia Pacific next-generation sequencing (NGS) market is likely to register a phenomenal CAGR during the same period. Improving healthcare infrastructure, rising per capita expenditure on healthcare, and increasing awareness regarding next generation sequencing are contributing to the growth of the market in the region.
Some of the prominent companies operating in the global NGS market are CapitalBio Corporation, Thermo Fisher Scientific, Berry Genomics Co. Ltd., Illumina, and Qiagen.
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