2019 Latest Study explores the Next Generation Sequencing Market Witness Highest Growth in near futu

Market Research Future (MRFR) speculates that the global next generation sequencing market is presumed to demonstrate a healthy growth rate during the forecast period (2018-2023) owing to the technological advancements. Next-generation sequencing (NGS), also termed as high throughput sequencing technology or massively parallel sequencing, has revolutionized the biological sciences. The NGS technology has transformed genomic research to an advanced level and allows to sequence a complete human genome in a small duration. The genetic material is pulled out in this process, fragmented, and associated with primers and adapters for amplification.

Increasing awareness, employment of various growth strategies and ongoing technical advancements are expected to provide the market with ample opportunity for growth. However, the high initial cost of implementing technologies, and the requirement for storage of large volumes of data as well as a lack of skilled workforce to run the technology are challenges to the growth of the market.

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Moreover, NGS is used to execute applications like oncology studies, biomarker discovery, agricultural & animal research, personalized medicine, and others. It has extensively replaced conventional tools of genomics. The demand has further increased across the world due to the increasing R&D investments by several market giants.

On the contrary, lack of skilled workforce in order to store and manage the huge amount of data appropriately, proper healthcare infrastructure, and the high cost associated with the technology are some of the top barriers predicted to vitiate the market growth in the coming years. Moreover, the complications associated with data storage is likely to dampen the market growth to a certain extent.

Industry Updates

February 18, 2019: QIAGEN N.V. has recently announced an agreement with the Ares Genetics in order to develop innovative bioinformatics and assay solutions to augment research targeting the global health challenges posed by antibiotic-resistant bacteria.

Segments for Global Next Generation Sequencing Market

The Global Next Generation Sequencing Market has been segmented on the basis of service and product, technology, end-user, and application.

By mode of technology, the global next-generation sequencing market has been segmented into whole exome sequencing, whole genome sequencing, methyl sequencing, CHIP sequencing, RNA sequencing, targeted resequencing, and de novo sequencing.

By mode of service and product, the global next-generation sequencing market has been segmented into consumables, sample preparation, sequencing services, and platforms and services for platforms. Among these, the consumables segment is likely to occupy the largest market share owing to the increasing sequencing procedures, advancements in the sequencing technologies, rising adoption and installation of NGS platforms, and launch of easy to use consumables.

By mode of application, the global next-generation sequencing market has been segmented into the genetic screening, drug discovery, agriculture and animal research, diagnostics, and others. Among these, the diagnostic segment is predicted to experience the highest growth rate owing to the rising number of new cancer cases globally, growing focus of key market players, and favorable reimbursement policies for NGS-based tests.

By mode of end-users, the global next-generation sequencing market has been segmented into hospitals and clinics, academic institutes and research centers, pharmaceutical and biotechnology companies, and others.

Regional Analysis for Global Next Generation Sequencing Market

The Global Next Generation Sequencing Market is segmented into key regions which include the Americas, Asia Pacific, Europe, and the Middle East & Africa. North America in the Americas region is slated to lead the market with the largest share due to the high competition between market players in the region as well as the rising demand for next-gen sequencing in the healthcare sector of developed economies such as the US and Canada. Moreover, the presence of a significant healthcare sector in the region combined with growing investments in healthcare toward the development of therapies for chronic diseases will push growth during the forecast period.

The European region has the second largest market due to the significant R&D activities that take place in the region with regards to various fields including healthcare. The presence of pioneering next-gen sequencing technology market players are expected to make an impact on the market. However, growth here is restrained due to regulations and fragmentation of the market across Europe.

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