The global next generation sequencing market is expected to reach USD 19.70 billion by 2025 registering a CAGR of 12.78%, according to a new report by Grand View Research, Inc. Growing application of NGS methodologies due to rising number of strategic developments initiated by the market participants is one of the key drivers of the market. These novel strategies mark the presence of intense competition between the key firms. Companies are further increasing their installation base by providing sequencing services in different emerging countries. For instance, in April 2018, Illumina entered into a partnership with Loxo Oncology for the development of Illumina TruSight Tumor 170 NGS test as a companion diagnostic for Loxo Oncology’s LOXO-292 and larotrectinib for tumor profiling.
Similarly, in March 2018, PierianDx partnered with cancer genetics to offer NGS-based tests for oncology precision medicine. NGS technologies experience significant growth due to rapid automation in the pre-sequencing protocols and advancements in clinical diagnosis and disease testing. Wide application of this technique in oncology, reproductive screening, infectious disease, noninvasive prenatal testing, and pharmacogenomics is also expected to positively impact the market growth. Reduced costs of genetic sequencing has also significantly enhanced the adoption of these technologies. Reduced installation costs of NGS platforms and easy availability of proteomic and genomic data has also resulted in an increased demand, thereby propelling the market development.
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Further key findings from the study suggest:
NGS-based platforms & related products account for the dominant market share due to the presence of sequencing platforms and instruments required for clinical applications
Growing awareness related to NGS services is likely to boost growth of the services segment
Cancer-related genes have a high level of genomic heterogeneity that can be easily detected by NGS, thus resulting in maximum revenue flow from the oncology field
On the basis of workflow, sequencing vertical accounted for the largest revenue share of the NGS market in 2018 and is said to continue its dominance over the forecast period
High demand for this technology and usage of NGS platforms for several research projects and Ph.D. programs contributes to academic research segment’s growth
Whereas, clinical research segment will witness a significant CAGR owing to emergence of NGS applications in clinical research and studies
North American held the maximum revenue share in 2018 due to the presence of a number of NGS technology providers, such as Illumina and Thermo Fisher
Asia Pacific is expected to emerge as the fastest-growing region due to continuous improvements laid by key participants in emerging economies, such as China and India
Prominent companies in the global market include Illumina Inc.; QIAGEN; F Hoffman-La Roche Ltd.; Thermo Fisher Scientific Inc.; and Bio-Rad Laboratories, Inc.
Product development and M&A are some of the key strategies adopted by these companies, for instance, Illumina acquired Edico Genome to improve the overall efficiency of NGS solutions provided by Illumina
Grand View Research has segmented the global next generation sequencing market on the basis of products & services, application, technology, workflow, end use, and region:
NGS Products & Services Outlook (Revenue, USD Million, 2014 - 2025)
Platforms & Related Products
NGS Application Outlook (Revenue, USD Million, 2014 - 2025)
Diagnostics and Screening
Newborn Genetic Screening
Single Gene Analysis
HLA Typing/Immune System Monitoring
Metagenomics, Epidemiology & Drug Development
Agrigenomics & Forensics
NGS Technology Outlook (Revenue, USD Million, 2014 - 2025)
Targeted Sequencing & Resequencing
NGS Workflow Outlook (Revenue, USD Million, 2014 - 2025)
NGS Library Preparation Kits
Semi-automated Library Preparation
Automated Library Preparation
NGS Primary Data Analysis
NGS Secondary Data Analysis
NGS Tertiary Data Analysis
NGS End Use Outlook (Revenue, USD Million, 2014 - 2025)
Hospitals & Clinics
Pharma & Biotech Entities
NGS Regional Outlook (Revenue, USD Million, 2014 - 2025)
Middle East Africa
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