(I-BusinessNews.Com, January 11, 2020 ) Next Generation Sequencing (NGS) is a technology used to determine the sequence of nucleotides in a given DNA sample. It enables sequencing of DNA or RNA in a short time and at cheaper costs. The growth in this market is majorly driven by technological advancements in sequencing procedures, surge in genome mapping programs, and increase in drug discovery platforms demanding NGS technology. Further, increasing number of government initiatives for large-scale genomic sequencing projects and emergence of cloud computing as a potential data management service are boosting the adoption of NGS products.
surge in genome mapping programs is steadily propelling the growth in the NGS market, with a CAGR of 16.2% to reach $10.35 billion by 2025, according to Meticulous Research®.
The full report on the Next Generation Sequencing (NGS) Market, published by Meticulous Research®, can be accessed at @https://www.meticulousresearch.com/product/next-generationg-sequencing-market-5040/
Over the past few years, Next Generation Sequencing (NGS) has provided transformative opportunities, leading to technological advancements in the field of biomedicine, clinical care, and human health. In the past, high cost and complexity of sequencing technology made it impractical to be used for clinical or research purposes. However, with the rapidly decreasing cost, the technique paved its way into various applications across the healthcare sector.
Due to inherent benefits of NGS, the development and advancements in NGS technology stirred a revolution in healthcare industry and established itself as a center of life science research, pharmaceutical development, and innovation in biosciences. According to National Human Genome Research Institute (NHGRI), the cost of sequencing procedures reduced from $100 million in 2001, which reduced to $800,000 in 2008, which further reduced to ~$1,200 in 2019. As a result, the field of genomics penetrated into the life sciences sector, enabling disease detection and development of tailored medicine approach for patients.
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Therefore, understanding the high potential of NGS, the governments across the globe are taking exciting steps to improve population studies, detection of diseases, and development of precision medicine. Some of the major initiatives took place in recent years are as follows:
In May 2018, Public genome research initiative “Australian Genomics Health Futures Mission” was launched by Australian government. The mission was launched with an investment of about $370 million to expand access to new research capabilities, clinical trials, and technologies for diagnostics, and betterment of healthcare sector.
In December 2017, 100,000 Genomes Project was launched by Chinese government, which intends to sequence the genomes of 100,000 people from different ethnic backgrounds and regions across China to study transformation of population from health to disease, environmental impacts, and to study the interaction between environmental factors and genes.
In 2016, the GenomeAsia 100K plan was launched to sequence 100,000 Asian individuals to accelerate research for precision medicine along with expansion of its applications for Asian populations.
In 2015, Precision Medicine Initiative (PMI) was launched in the U.S. The initiative aimed to understand genetic makeup of individuals to derive personalized treatment approaches.
In France, Plan Cancer 2014-2019 was launched with an aim to initiate progressive shift towards NGS for detection of mutation in cancer.
Due to these programs and initiatives, the foundation for personalized medicine has been strengthened, inspiring researchers further. Also, the genomic information provided by genome analysis has further expanded research aspects for population genetics, environmental impact on population groups, drug response, and disease studies, thereby boosting the demand for NGS products.
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Key Players:
The key players operating in the global next-generation sequencing market are Illumina, Inc. (U.S.), Agilent Technologies, Inc. (U.S.), Bio-Rad Laboratories, Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), Qiagen N.V. (Netherlands), PerkinElmer, Inc. (U.S.), F. Hoffmann-La Roche AG (Switzerland), 10X Genomics, Inc. (U.S.), Pacific Biosciences of California, Inc. (U.S.), Oxford Nanopore Technologies Ltd (U.K.), Beckman Coulter, Inc. (U.S.), GenapSys, Inc. (U.S.), New England Biolabs, Inc. (U.S.), PierianDx (U.S.), and BGI Genomics (China).
Key questions answered in the report-
Which are the high growth market segments in terms of product type, sequencing type, technology, application, end user, and regions/countries?
What was the historical market for NGS across the globe?
What are the market forecasts and estimates for the period 2019-2025?
What are the major drivers, restraints, challenges, opportunities, and trends in the global NGS market?
Who are the major players in the global NGS market?
How is the competitive landscape and who are the market leaders in the global NGS market?
What are the recent developments in the global NGS market?
What are the different strategies adopted by the major players in the global NGS market?
What are the geographical trends and high growth regions/ countries?
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