Next Generation Sequencers Market Size Estimated to Observe Significant Growth by 2024

Next generation sequencing (NGS) has opened a whole new avenue for researchers to study biological systems at a level never before possible, reaching new heights with its unprecedented speed, throughput, and scalability. Beyond the limited capacity of traditional DNA sequencing technologies, next generation sequencers provide answers to critical genomic research questions and is now becoming an everyday research tool. The next generation sequencing technology helps in rapid sequencing and produces thousands to millions of sequences in a single run. Owing to this escalated usefulness, the global Next Generation Sequencers Market is projected for a healthy CAGR during the forecast period of 2016 to 2024.

This report on next generation sequencers is a thorough study of the global market, which has been developed to help current and future players to make more informed choices for their business. The report not only analyzes all the factors that are expected to influence the market and presents a figurative future estimation, it also profiles some of the key companies currently operation in global next generation sequencers market for their market share, product portfolio, and other strategic developments.

Based on technology, the market can be segmented into single-molecule real-time sequencing (SMRT), pyrosequencing, ion semiconductor sequencing, sequencing by ligation, sequencing by synthesis, and chain termination. Since all these technologies are proprietary and protected through intellectual property rights, new players must develop independent technology to make a market over the market. By application, the market can be segmented into oncology, reproductive health, immune system monitoring, agrigenomics and forensics, consumer genomics, and clinical investigations including infectious disease, inherited diseases, idiopathic diseases, and non-communicable diseases.

Growing automation in the pre-sequencing protocols is expected to drive the global next generation sequencers market during the forecast period. Utilization of new platforms for the development of personalized medicine by genetic level medical analysis is another prominent factor expected to escalate the demand for NGS over the forecast period. The report also expects the increased number of research and development projects in the field of metabolomics, transcriptomics, and proteomics to reflect on global next generation sequencers market. Some of the other factors driving the market are increasing adoption among researchers, academicians and customers, growing healthcare expenditure for the development of effective diagnostic and therapeutic procedure for cancer, low cost DNA sequencing, and microarray technology by NGS.

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Conversely, the lack of computational efficiency for data management, non-value based NGS reimbursement policy and regulation status, and challenges associated with NGS implementations are the factors that may hinder the growth rate during the forecast period.

North America currently contributes to the maximum demand in next generation sequencers market and the demand is expected to sustain over the duration of forecast period, primarily from the developed economies of the U.S. and Canada, who have technologically advanced healthcare framework and high adoption rate of new technologies. Several prominent companies in this field are based out of the U.S., which also reflects on heavy investments on research and development in the country. Europe market for next generation sequencers is also formidable, as the majority of respondents for academic and clinical use are located in the U.K. and Germany. For instance, Illumina Inc. inaugurated its European headquarters in Cambridge in 2015, taking initiative to gain share of revenue generated through 10,000 genome project carried out in the country. Asia Pacific, though a smaller regional market as of now, is projected for most robust growth rate among all the regions, owing to improving healthcare infrastructure in the emerging economies of India and China.

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Some of the key companies currently operational in global next generation sequencers market are Pacific Biosciences, Illumina Inc., Beijing Genomics Institute, F Hoffman-La Roche, Oxford Nanopore Technologies Inc., GATC Biotech AG., Thermo Fisher Scientific, Agilent Technologies Inc., Biomatters Ltd., Helicos BioSciences, DNAStar Inc., Macrogen Inc., CLC Bio (Qiagen), and Knome Inc.

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