Next Generation Sequencing Market will witness over 20% CAGR up to 2025

Asia Pacific NGS market accounted for over 20% revenue share in 2018 and is projected to achieve more than 20% CAGR from 2019 to 2025 propelled by rising prevalence of genetic diseases.

Few major industry players operating in the next generation sequencing market include Illumina, Thermo-Fisher, Roche, Pac-Bio, Long Read Solutions, BGI, Oxford Nanopore, Qiagen, Genapsys, BioRad, Agilent, NanoString, 10X Genomics. Chief industry players adopt various strategic initiatives such as mergers, acquisitions and new product launch that renders them with competitive advantage. For instance, in 2018, Illumina announced collaboration with KingMed Diagnostics develop NGS technology for hereditary disease testing and oncology that will extend company’s product portfolio and foster company’s growth.

Global Next Generation Sequencing Market is set to exceed USD 15 billion by 2025; according to a new research report by Global Market Insights, Inc. Technological advancements in the field of next generation sequencing will drive the industry growth throughout the forecast period. Introduction of targeted sequencing panels have enabled analysis of specific mutations. Moreover, specificity of the NGS technology has improved speed and scalability of research processes. Upgradations in technology has allowed the researchers to assess multiple genes across several genome samples at a single time. Also, NGS techniques produce smaller sets of data and makes it manageable as compared to data generated by whole genome sequencing technique.

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Exome sequencing segment is expected to have 20.7% growth throughout the analysis timeframe owing to its extensive usage in detecting genetic diseases. It is one of the most effective ways of identifying genetic variants. Exome sequencing is often utilized to detect mutations in the genes as well as identify novel genes by comparing the exomes from patients with similar features that makes the drug discovery process easy. Aforementioned factors are projected to elevate the segment growth.

Clinical application segment of next generation sequencing market was valued at USD 2 billion in 2018 and is projected to witness significant growth during the forecast years. Doctors and clinicians utilize NGS technology to predict the occurrence of several chronic diseases within individuals. Due to an increase in prevalence of hereditary diseases, adoption of WGS technique for studying the genome has elevated since past few years. According to Global Genes, 350 million people suffer from rare genetic disease globally that has positively impacted the demand for NGS technology driving segmental growth.

Ion semiconductor sequencing segment accounted for 11.2% in 2018 and will grow significantly throughout the analysis period. Ion semiconductor technology is superior from other sequencing technologies in terms of efficiency and accuracy. Therefore, this technology is being extensively utilized in research, clinical and other research processes as it provides accurate analysis. It possess around 99.6% accuracy that elevates its adoption thereby, propelling the segment growth.

Research centers and academics segment of next generation sequencing market is expected to show 21.3% growth during analysis timeframe. Stupendous segmental growth will be as a result of wide usage of NGS platform in various research studies. Academic institutes and research centers in developed economies undertake several experimental studies that involves analysis of genetic data at molecular level. Therefore, these academic institutes prefer technologically advanced NGS that are efficient and cost-effective that will stimulate the segment growth of next generation sequencing market in coming years.

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Contact Info:
Name: Arun Hegde
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Organization: Global Market Insights, Inc.

Release ID: 508041