Next Generation Sequencing (NGS) market by Product - (software and services) by Technology – (whole targeted re-sequencing, genome sequencing, de novo sequencing, exome sequencing, RNA-Seq, ChIP-Seq and Methyl-Seq)by application – (diagnostics, drug discovery, biomarker discovery, personalized medicine, and agriculture and animals research)and by Region - Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts(2016–2021)
Global Next Generation Sequencing (NGS) market which was worth $4.02 billion by the end of 2015 is poised to reach $10.69 billion by 2020 at a CAGR of 21.6%. Modern technologies assist in the sequencing of DNA and RNA much more quickly and cheaply than the Sanger sequencing and these have transformed the study of genomics and molecular biology.
The arrival of next generation sequencing technologies has brought noteworthy changes in the sequencing process by providing speed, flexibility and reduced sequencing cost over thousand folds.
The next generation data analysis market is anticipated to see the fastest growth during the forecast period.With an expected increase in enactment of whole genome sequencing, the following data generation from sequencing projects is predicted to grow harmonically with the number of sequencing projects.
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Advancements in pre-sequencing and NGS bioinformatics solutions, Rise in growth of personalized medicine and cloud computing, increasing incidences of infectious diseases, growth in global population, and cancer are few factors driving the market growth. In addition, anticipated decrease in the prices of genome sequencing due to development of rapid, high capacity whole genome sequencers by key players is expected to have a positive effect on market penetration rates over the few years.
However, the storage and management of data generated by sequencing and its interpretation, high reliability on grants & funding from the government and fall in capital expenditure from academic institutions are few factors hindering the growth of global next generation sequencing market.
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The Next Generation Sequencing market is categorized by product (software and services) and by technology. By technology it is sub segmented into targeted re-sequencing, genome sequencing, de novo sequencing, exome sequencing, RNA-Seq, ChIP-Seq and Methyl-Seq.
And by application it is sub segmented into diagnostics, drug discovery, biomarker discovery, personalized medicine, and agriculture & animals research. Targeted sequencing accounts for the largest share of the market, however owing to the expected development of whole genome sequencing capabilities, the earlier segment is expected to lose market share by 2022
Each market is further analysed at a ground level by geography, under Asia-Pacific, North America, Europe, Latin America and Africa & Middle-East. North America is poised to account for the prime market share of the NGS market, followed by Europe.
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Asia-Pacific region presents significant opportunities for the investors/venture capitalists as the developed markets get saturated. The presence of noteworthy developments in China and Japan for integration of new technologies, and the development of healthcare, R&D and clinical development frameworks of developing economies such as India and Australia have led to the Asia Pacific market to witness rewarding growth throughout the forecast period.
At present, the next generation sequencing market is amalgamated with a few market players due to involvement of exceptionally complicated technologies and the low target audience for the systems. The market is dominated by Illumina, which accounted for the largest market share of approximately 70%.
Other major players in the market include Thermo Fischer Scientific, Pacific Biosciences, Macrogen Inc.,Partek Inc., Genomatix Software GmbH, Perkin Elmer inc.,GATC Biotech Ag, Agilent Technologies Inc., Biomatters Ltd., BGI (Beijing Genomics Institute), Oxford Nanopore Technologies Ltd.,DNASTAR Inc., Knome Inc., and Qiagen N.V.
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