Next Generation Sequencing Market Competition, Value chain Analysis and Forecast 2023

Next generation sequencing (NGS) also known as high-throughput sequencing enables scientists to sequence and assemble billions of short DNA reads. The advent of next generation sequencing technologies has brought significant changes in the sequencing process by providing high throughput, speed, flexibility and reduced sequencing cost over thousand folds. NGS has ability to generate hundreds of gigabases of nucleotide sequence data in a single sequencing run. The technology is emerging at a rapid rate due to its growing adoption in clinical applications as it allows scanning of whole genomes or targeted genomes in less span of time. In addition, reduction in cost of sequencing has also expanded the usage of next generation sequencing in variety of clinical applications. The technique has imparted its usage in various clinical applications such as cancer, inherited genetic disorders, HLA typing and identification of infectious diseases. For instance, NGS has been used for tracing hospital acquired infections and tuberculosis outbreaks.

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The market for next generation sequencing can be segmented based on technology, application, end-users and geography. The application section can be categorized into drug discovery, personalized medicines, biomarker discovery, diagnostics and others (agriculture, animal, marine and other studies). The technology section of the market could be subdivided into sequencing by synthesis, ion semiconductor sequencing, pyrosequencing, sequencing by ligation and single molecule real time sequencing. The next generation sequencing market can also be analyzed based on the end user segment including hospitals and clinics, research institutions and pharmaceutical and biotechnology companies.

It is witnessed that more than 65% of the next generation sequencing revenue is generated from academic institutions, biopharmaceutical companies and government research institutes. Geographically, the market is segmented into North America, Europe, Asia-Pacific, Latin America (LATAM), and Middle East and Africa (MENA). Of all the geographies, North America accounted for the largest market share in 2014 followed by Europe. However, during the forecast period Asia-Pacific region is anticipated to record highest growth owing to market saturation in developed regions. Furthermore, technological innovation, increasing drug discovery initiatives by healthcare companies, increasing adoption of innovative models and huge capital investment by pharmaceutical and biotechnology companies are some of the key factors expected to drive the growth of next generation sequencing market in Asia.

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Currently, the next generation sequencing market is consolidated with very few market players due to involvement of extremely complicated technologies and the low target audience for the systems. The expensive next-generation sequencing systems may exceed a cost of millions of dollars for installation, maintenance, reagents and output analysis. Most respondents have suggested sequencing as a service business rather than an investment for in-house research. Introduction of bench-top sequencers enabling ease of use to researchers is also expected to push the market growth further. Outsourcing sequencing is expected to remain a major contributor to the revenue generation in the coming years.

Response gathered from research facilities suggest that purchase of these sequencing platforms may demonstrate actual growth post reduction in the sequencing costs below USD 1000 as suggested by several manufacturers. True potential of this technology lies in the personalized medicine and sequencing genomes of individuals. Furthermore, increasing initiatives by government bodies for genomics research would also boost the adoption of high-throughput sequencing platform.

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