SAN FRANCISCO, Feb. 23, 2021 /PRNewswire/ -- The global next
generation sequencing market size is anticipated to
reach USD 11.7 billion by 2028
registering a CAGR of 14.4%, according to a new report by
Grand View Research, Inc. As researchers are continuously unlocking
the genetic diversity, the development of targeted therapies is on
the rise. These therapies are targeted towards narrow populations
of patients that have specific or rare genomic biomarkers.
Therefore, this is expected to increase the utilization of next
generation sequencing (NGS) technology for targeted therapies.
Key suggestions from the report:
- The oncology application segment accounted for the largest
revenue share in 2020 and will retain its dominance throughout the
forecast period due to the development and launch of targeted gene
panels for oncology
- Companies like Myriad Genetics, Inc., through its myRisk
product, offer genetic testing to identify people who may be at a
higher risk of developing certain cancers in the future
- The high utility of NGS technology in the identification of
coronavirus strains is expected to drive the infectious diseases
segment with the fastest CAGR from 2021 to 2028
- Sequencing was the largest revenue-generating workflow
segment in 2020 due to the introduction of novel, portable
sequencers as a result of high competition
- In addition, owing to the expected increase in adoption and
usage of WGS, sequencing is expected to witness the fastest CAGR
over the forecast period
- The clinical research end-use segment is expected to
register the fastest CAGR from 2021 to 2028. An increase in the
utility of NGS technology and the support of key players for
Covid-19 research is responsible for the segment growth
- For instance, in January 2021,
to support the Covid-19 surveillance and research, Thermo Fisher
Scientific extended its SARS-CoV-2 GlobalAccess Sequencing Program
to offer additional units of Ion GeneStudio S5 sequencer and Ion
Torrent Genexus System at a subsidized rate
- North America was the
largest regional market owing to significant developments in the
fields of companion diagnostics, personalized medicine, and
NGS
- Asia Pacific is projected
to be the fastest-growing regional market from 2021 to 2028 owing
to the expansion of the molecular diagnostics field and high
investments by global and local players in the Asian
countries
- For instance, in January 2021,
Crown Bioscience, Inc.; a U.S.-based platform technology innovator;
launched NGS panel services at its Center of Translational Science
in Suzhou, China
Read 328 page research report with ToC on "Next Generation
Sequencing Market Size, Share & Trends Analysis Report By
Technology (Targeted Sequencing & Resequencing), By Application
(Oncology, Consumer Genomics), By Workflow, By End-use, And Segment
Forecasts, 2021 - 2028" at:
https://www.grandviewresearch.com/industry-analysis/next-generation-sequencing-market
Simplification in the NGS workflow coupled with the continued
price reductions in instruments as well as reagents is attributed
to the increasing adoption of this technology. The cost of
sequencing the human genome has reduced from USD 100 million to less than USD 1,000 in less than two decades. Moreover,
enhancement in the bioinformatics capabilities will lead to
broadening of NGS adoption at the low- and high-throughput ends of
the research market.
Several companies are engaged in the innovation of long-read
sequencing technologies, which will augment the research as well as
clinical application sets. The growing automation in the pre- &
post-sequencing protocols, and data analysis is also driving the
market. The utilization of novel platforms for the development of
personalized medicine at a genetic level is also a significant
factor, which is expected to boost the demand for NGS over the
forecast period.
Grand View Research has segmented the global next generation
sequencing market on the basis of technology, application,
workflow, end-use, and region:
- NGS Technology Outlook (Revenue, USD Million, 2017 -
2028)
-
- WGS
- Whole Exome Sequencing
- Targeted Sequencing & Resequencing
-
- NGS Application Outlook (Revenue, USD Million, 2017 -
2028)
-
- Oncology
-
- Diagnostics and Screening
-
- Oncology Screening
-
- Sporadic Cancer
- Inherited Cancer
- Companion Diagnostics
- Other Diagnostics
- Research Studies
- Clinical Investigation
-
- Infectious Diseases
- Inherited Diseases
- Idiopathic Diseases
- Non-Communicable/Other Diseases
- Reproductive Health
-
- NIPT
-
- Aneuploidy
- Microdeletions
- PGT
- Newborn Genetic Screening
- Single Gene Analysis
- HLA Typing/Immune System Monitoring
- Metagenomics, Epidemiology & Drug Development
- Agrigenomics & Forensics
- Consumer Genomics
- NGS Workflow Outlook (Revenue, USD Million, 2017 -
2028)
-
- Pre-Sequencing
-
- NGS Library Preparation Kits
- Semi-automated Library Preparation
- Automated Library Preparation
- Clonal Amplification
- Sequencing
- NGS Data Analysis
-
- NGS Primary Data Analysis
- NGS Secondary Data Analysis
- NGS Tertiary Data Analysis
- NGS End-use Outlook (Revenue, USD Million, 2017 -
2028)
-
- Academic Research
- Clinical Research
- Hospitals & Clinics
- Pharma & Biotech Entities
- Other Users
- NGS Regional Outlook (Revenue, USD Million, 2017 -
2028)
-
- North America
-
- Europe
-
- Germany
- U.K.
- Italy
- Spain
- France
- Asia Pacific
-
- Japan
- China
- South Korea
- Australia
- India
- Latin America
-
- Middle East & Africa
-
- South Africa
- Saudi Arabia
List of Key Players of Next Generation Sequencing
Market
- Illumina
- QIAGEN
- Thermo Fisher Scientific, Inc.
- F. Hoffman-La Roche Ltd.
- Oxford Nanopore Technologies
- Genomatix GmbH
- PierianDx
- DNASTAR, Inc.
- Eurofins GATC Biotech GmbH
- Perkin Elmer, Inc.
- BGI
- Bio-Rad Laboratories, Inc.
Find more research reports on Biotechnology
Industry, by Grand View Research:
- Clinical Oncology Next Generation Sequencing Market – The
global clinical oncology next generation sequencing market size is
expected to reach USD 892.61 million
by 2028 and is expected to grow at a compound annual growth rate
(CAGR) of 14.70% from 2021 to 2028.
- U.S. Clinical Oncology Next Generation Sequencing Market – U.S.
clinical oncology next generation sequencing market is anticipated
to reach USD 1.53 billion by 2024.
Applications of NGS platform for clinical oncology are expected to
grow at a steady pace under the influence of increasing adoption of
NGS platforms in oncology R&D coupled with rising incidents of
cancer.
- Consumer Genomics Market – The global consumer genomics market
size is projected to reach USD 4.63
billion by 2025 and is projected to expand at a CAGR of
20.3% from 2019 to 2025.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting
company, provides syndicated as well as customized research reports
and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425
analysts and consultants, adding more than 1200 market research
reports to its vast database each year. These reports offer
in-depth analysis on 46 industries across 25 major countries
worldwide. With the help of an interactive market intelligence
platform, Grand View Research helps Fortune 500 companies and
renowned academic institutes understand the global and regional
business environment and gauge the opportunities that lie
ahead.
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