The Next-Generation Sequencing Market is expected to witness a CAGR of 18.6% to reach $14.8 billion by 2024
Bangalore, India, July 4, 2018: With its recently published study “Next-Generation Sequencing – Global Drivers, Restraints, Opportunities, Trends, and Forecasts up to 2024”, Infoholic Research forecasts that the global market for next-generation sequencing will continue to grow, owing to the increasing incidence of cancer and other genetic disesases, growing geriatric population, wide range of diagnostic application of sequencing, high speed, accuracy and decreased sequencing cost.
Various products covered in the report includes instruments, consumables and reagents and services. The services segment of the NGS market includes data analysis services and sequencing services. Among various application, consumables and reagents occupied the largest share in 2017, due to increased usage and need of consumables throughout the sample preparation, library construction, and various other pre-requisite steps of next-generation sequencing.
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North America is the major shareholder in the global next-generation sequencing market, followed by Europe. Asia-Pacific region is expected to grow at high CAGR during the forecasted period due to increasing funding for healthcare research, growing patient pool, and increasing healthcare expenditure. The markets in emerging counties such as, India, China and Brazil are expected to grow at a rapid pace for next five years.
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The market by application is segmented into diagnostics, biomarker discovery, drug discovery, agriculture and animal research and others. Diagnostics includes prenatal testing, cancer diagnostics, genetic screening, pre-implantation, HLA typing and various other clinical diagnostics applications. The diagnostics application occupied a major share in 2017, due to increasing usage of next-generation sequencing for disease diagnosis.
“The next-generation sequencing market is growing steadily with increasing genetic analysis, and growing investment in R&D in the field of genomics, proteomics and metabolomics. Advanced biomarker and drug discovery and increasing use of NGS in developing the personalized medicine is expected to enhance the demand for technology in the coming years.” - Arpitha Shetty, Research Analyst, Infoholic Research
Key insights of the report include:
- Reversible terminator sequencing
- Ion Semiconductor sequencing
- Sequencing by ligation
- Single molecule real-time sequencing
- Nanopore sequencing
- Consumables and reagents
- Application Areas:
- Biomarker discovery
- Drug discovery
- Agriculture and animal research
- Academic and research institutes
- Hospitals and clinics
- Biotech and pharma companies
- North America
- Asia Pacific
- Rest of the world
- Industry outlook: Market trends, drivers, restraints, and opportunities