Next Generation Sequencing Market Global Analysis and Forecasts by Service (Genome Sequencing, Exome Sequencing, Resequencing & Targeted Sequencing, Other Sequencing Technologies), Key Players, and Geography Trends; 2018-2025
The next generation market is estimated to account for US$ 26,501.2 Mn by the end of 2025, escalating at a CAGR of 21.1% during the forecast period from 2018 to 2025, rising from US$ 5,731.3 Mn in 2017.
In our study, we have segmented the next generation sequencing market by product, service, application and end-users. The products considered in the study are platform, services, and consumables. The platform segment is further segmented as Hiseq, Miseq, Solid, ION Torrent, Pacbio Rs II & Sequel Systems. The sub-segment of services is further divided as sequencing services and data management & analysis services. Consumables is further bifurcated as sample preparation consumables, library preparation & target enrichment kits & reagents, and quality control kits & reagents. The services segment is classified as genome sequencing. Exome sequencing, resequencing & targeted sequencing, and other services. The applications of next generation sequencing covered in the report include, diagnostics, drug discovery, precision medicine, and others. The end-users of next generation sequencing is classified as academic & research institutes, pharmaceutical & biotechnology companies, hospitals & clinics, and others.
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The growth of next generation sequencing market is attributed to the substantial decline in the prices of sequencing. For example, the cost of sequencing in 2006 was around US $ 10 billion, which eventually dropped down to US$ 5,000 billion in 2012. Various market players such as Roche and Illumina have introduced sequencing techniques which have reduced the cost associated with sequencing. However, there are risks associated with genetic data which prove to be a major restraint in the market for next generation sequencing. One of the prominent risk associated is targeted marketing of drugs to individuals and family groups. Genetic data is also sold by companies to outside parties. For instance, 23andMe sold access to its database to around 13 other party pharmaceutical firms. Such risks associated with genetic data is likely to hamper growth of the market over the coming years. Recent developments in technologies has enabled companies to produce sequencing in a single day at the cost of about $15 per sample. It results in effective delivery of target and whole genome data for thousands of samples at a reasonable cost.
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The market for next generation sequencing has witnessed remarkable growth opportunities in North America. Factors such as increasing focus of market players in the US and Canada, grants & funds by NIH in US and rising prevalence of Cancer in Mexico is likely to boost the growth of NGS market in North America.
The market for next generation sequencing consists of well-recognized organizations as well as emerging companies namely; PerkinElmer, Inc., Oxford Nanopore Technologies, Ltd., Beijing Genomics Institute, F. Hoffmann-La Roche AG, Eurofins Scientific, Agilent Technologies, Qiagen N.V., Thermo Fisher Scientific, Macrogen, Inc., and Illumina, Inc. among others
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