This report focuses on the Next Generation Sequencing Market Growth, Size, Revenue, Share, status, future forecast, growth opportunity, key market dynamics and key players. The study objectives are to present the Semiconductor Manufacturing Equipment development in North Americas, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America (SA).
Pune, India -- (SBWIRE) -- 03/05/2019 -- According to a new market research study titled 'Next Generation Sequencing Market to 2025 – Global Analysis and Forecasts by Product, Services, Applications, and End-Users. The global Next Generation Sequencing market is calculated to account for US$ 26,501.2 Mn by 2025 as compared to US$ 5,731.3 Mn in 2017, growing at a CAGR of 21.1% during the forecast period from 2018 to 2025. The report highlights the trends prevalent in the global next generation sequencing market and the factors driving the market along with those that act as deterrents to its growth. Declining prices and technological advancements in the next generation sequencing technology is driving the growth of the market
The Next Generation Sequencing Market to Account for US$ 26,501.2 Mn by 2025 Includes Leading players include PerkinElmer, Oxford Nanopore Technologies, Beijing Genomics Institute, Macrogen, F. Hoffmann-La Roche AG, Agilent Technologies, Eurofins Scientific, Qiagen N.V., Thermo Fisher Scientific, and Illumina. among others.
The key players operating in the field of Next Generation Sequencing worldwide include PerkinElmer, Inc., Oxford Nanopore Technologies, Ltd., Beijing Genomics Institute, Macrogen, Inc., F. Hoffmann-La Roche AG, Agilent Technologies, Eurofins Scientific, Qiagen N.V., Thermo Fisher Scientific, Inc., and Illumina, Inc. among others
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The global next generation sequencing market is a matured market in the developing countries as well as developing economies worldwide. The necessity of genetic analysis is constantly increasing in recent days due to the reliable and accurate results being offered by the technique. The demand for next generation sequencing is experienced mostly from academic institutions followed by hospitals & clinics. Among the applications, the demand for next generation sequencing is significantly high in diagnostics, drug discovery, followed by precision medicine. Furthermore, advancements in sequencing technologies and declining cost of sequencing is expected to be a driving factor for the next generation market.
However, high cost of advanced technologies may hamper the growth of the market in the coming years. In recent years, the demand for cutting edge technology in order to gain high speed results and accuracy is increasing. Technological development has enabled advances in sequencing technology leading to a sharp increase in the cost of sequencing equipment. Companies such as Illumina and PacBio offer instruments with high cost. For instance, Illumina MiSeq cost for US $ 128,000 andPacBio RS cost for US $ 695,000.
The global next generation market has been segmented, based on different parameters such as product, service, application, end-users and geographical regions. 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.
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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 The market is further examined by evaluating the market on basis of five strategic regions worldwide as North America, Europe, Asia Pacific, Middle East and Africa, and South America.
Declining Sequencing Prices, Technological Advancements in Sequencing Instruments and Increasing Prevalence of Cancer is expected to bolster the market for NGS Market from 2018 to 2025.
The next generation sequencing uses the DNA sequencing technique that uses parallel or deep sequencing which uses the revolutionized genomic research. The NGS is used for sequencing the entire human in a single day. Numerous advantages in the NGS are contributing to the growth of the market. The factors such as declining price of sequencing, technological advancements in sequencing are the reasons for the market to grow in the forecast period. In the recent years, next generation sequencing price have declined substantially. For instance, first whole human genome sequencing cost over US$3.7 billion in 2000 and took 13 years for the completion. However, the costs for the same in recent years has reduces to US$1,000 and the process requires less number of days. In 2000, cost for sequencing was US $ 3.7 billion, which dropped down to US $ 10 million in 2006 and declined to US $ 5,000 in 2012. Major market players such as Illumina and Roche have introduced breakthrough technologies that have enabled in the cost and time reduction in the sequencing.
Among the NGS products, the consumables dominated the market in 2017 and in terms of revenue, the segment is anticipated to surge in the future till 2025. The segment is growing due to the numerous consumables offered by companies and the huge acceptance among the consumers and it provides accuracy and precision in the preparation of the NGS. Among the various consumables, the sample preparation consumables segment is expected to lead the market in terms of growth rate. This is due to the advantages such as accuracy and precision of the sample preparation kits.
The global NGS market has been segmented, based on different segments such as products, technology, application, end users and geography. The various types of NGS products available in the market includes consumables, services, and platforms. The consumables segment is further sub segmented as sample preparation consumables and others. Sample preparation consumables are again sub-segmented into DNA fragmentation, end repair, A-tailing, and size selection kits & reagents, library preparation & target enrichment kits & reagents, and quality control kits & reagents. The breakdown of services segment includes sequencing services and data management & analysis services. Sequencing services segment is further sub-segment into RNA sequencing services, whole genome sequencing services, whole exome sequencing services, targeted sequencing services, chip sequencing services, and other sequencing services. Data management & analysis services segment is further sub-segment into NGS data analysis, NGS data analysis software & workbenches, and other data management & analysis services.
The platforms segment of NGS is further sub-segmented into Hiseq Series, Miseq Series, Solid, ION Torrent, Pacbio Rs II and Sequel Systems, and other platforms. The technology segment of NGS include genome sequencing, exome sequencing, resequencing & targeted sequencing and others. The resequencing & targeted sequencing is further sub-segmented into DNA-based resequencing & targeted sequencing, and RNA-based resequencing & targeted sequencing. The applications segment includes diagnostics, drug discovery, precision medicine, and others. The end users segment includes academic & research institutes, pharmaceutical & biotechnology companies, hospitals & clinics and other end users. The market is further examined by evaluating the market on basis of five strategic regions worldwide as North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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.