Next Generation Sequencing Market Detailed Survey Focusing on Top Players | AGILENT TECHNOLOGIES, DNASTAR, F. HOFFMANN-LA ROCHE, GATC BIOTECH AG, ILLUMINA, MACROGEN, PACIFIC BIOSCIENCES OF CALIFORNIA

The global next generation sequencing market is expected to register a CAGR of 19.5% during 2018 to 2023 (the forecast period). The next generation sequencing is a DNA sequencing technology that has revolutionized genomic research, and has drawn huge attention from the scientific research community. North America dominates the market, owing to the increasing demand for advanced healthcare facilities, high investments for genomics and proteomics, and growing adoption of sequencing techniques in the region.

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Rising Applications in Clinical Diagnosis
The increasing applications in clinical diagnosis is one the major factors responsible for the growth of this market. In the recent years, technologies, such as Illumina/Solexa, ABI/SOLiD, 454/Roche, and Helicos, have provided unique prospects for high-throughput functional genomic research. Its applications in the diagnosis includes a variety of illnesses, such as cancer, hematological disorders, neurology, psychiatry, dysmorphology, vision and hearing impairment, cardiology, and pharmacogenomics. Compared to Sanger sequencing, NGS has emerged as the dominant genomics technology because of its cost effectiveness and use in wide range of functional genomics applications, from sequencing a group of candidate genes, all coding regions (known as exome sequencing) to the entire human genome.
Other factors, such as the speed, cost and accuracy of NGS, efficient replacement for traditional technologies like microarrays, and rise in drug discovery applications demanding NGS technology, are also contributing to the growth of the next-generation sequencing market.

Key Developments in the Market
• February 2018 - HTG Molecular Diagnostics Inc., announced the issuance of Australian Patent for its technology for “Methods of Co-detecting mRNA and Small Non-coding RNA.”
• February 2018 - PacBridge Capital Partners (HK) Limited planned to fund Contextual Genomics Inc., a leading Canadian cancer genomics company to support its FIND IT assay.
• January 2018 - MedGenome expanded its NGS capabilities and forays into single-cell sequencing.

Major Players –
AGILENT TECHNOLOGIES, DNASTAR INC., F. HOFFMANN-LA ROCHE LTD, GATC BIOTECH AG, ILLUMINA INC., MACROGEN INC., PACIFIC BIOSCIENCES OF CALIFORNIA INC., PERKINELMER INC., QIAGEN, AND THERMO FISHER SCIENTIFIC INC., amongst others.

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Legal and Ethical Issues
Ethical and legal discussions have always been part of medical research. Funding agencies and journals often submit genomic data from research participants to their databases - this allows investigators to control data. Giving such access, risks the identity of the individuals or families. The data and samples are sent from the databases without the consent of the participant, putting them at risk. The unidirectional flow of data out of the system creates a sense of exploitation and distrust. Therefore, the legal and ethical issues hinder the growth of the next-generation sequencing market.
Other factors hindering this market are lack of interpretation of complex data and lack of skilled professionals.

US to Dominate the Market Share
The United States is expected to dominate the NGS market globally during the forecast period. Due to the support of genomics research, various government bodies, like NHGRI (National Human Genome Research Institute, US), have supported the work on sequencing of the human genome and fund research on the genome's structure, function, and role in health and disease. Further, The US National Human Genome Research Institute and the US National Academy of Medicine organized 90 leaders in genomic medicine from the United States and 25 other countries in Genomic Medicine Symposium in 2014, to identify opportunities for collaborations that promote the responsible practice of genomic medicine. Several government initiatives, developed healthcare infrastructure, and awareness among citizens are contributing to the growth of the market.

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This release was published on openPR.