BANGALORE, October 13, 2015 /PRNewswire/ --
The Global market for Next Generation Sequencing (NGS) is poised to reach $10 billion by the end of 2020 growing at a CAGR of approximately 20%. The instruments and consumables is the largest segment with a share of around half of the market in 2013. The fastest growing segment is the services with a highest CAGR during the forecast period. The major players are interested in services segment as it provides additional revenue for the company at the same time, increases the sales of instruments and reagents.
Currently the factors contributing to the growth of the market are increasing applications in clinical diagnosis, efficient replacement of traditional technologies and drug discovery applications demanding NGS technology are the most instrumental factors.
However, legal & ethical issues, interpretation of complex data, lack of skilled professionals are hindering the market growth.
Currently, North America is the largest market for NGS. This is due to the increased awareness about the quick return of investments and accuracy. Asia Pacific is the fastest growing segment. The Next Generation Sequencing market can be segmented on the basis of Technology (Whole Genome Sequencing, Targeted Resequencing, Whole Exome Sequencing, RNA Sequencing, Chip Sequencing, De Novo Sequencing and Methyl Sequencing), Products (Instruments, Reagents & Consumables, and Services), End user (Hospitals & Healthcare Institutions, Academics, Biotech & Pharma Firms, and Others), Applications (Drug Discovery, Genetic Screening, Diagnostics, Personalized Medicine, Agriculture And Animal Research, Infectious Diseases, and Others) and Geography (North America, Europe, APAC & RoW).
Get the Full Report Here: Global Next Generation Sequencing (NGS) Market
From the technology forefront, the current technologies used in the NGS market are Whole Genome Sequencing, Targeted Resequencing, Whole Exome Sequencing, RNA Sequencing, Chip Sequencing, De Novo Sequencing and Methyl Sequencing. Microarray based, genome wide association studies (GWAS) have been the most common approach for identifying disease associations across the whole genome. The rapid drop in sequencing cost and the ability of WGS to rapidly produce large volumes of data make it a powerful tool for genomics research. WGS is considered to be the fastest growing segment of the NGS market. It is one of the reasons that there has been a considerable price decline when it comes to genomic research. Currently, Targeted Resequencing the most dominant technology used in the global NGS market. Exome sequencing is considered to be the most widely used targeted sequencing method in the market currently. Following them are other technologies such as RNA sequencing, Chip Sequencing, De Novo and Methyl Sequencing.
The major market players in the NGS market are Roche, Qiagen, Illumina, Perkin Elmer, Life Technologies, Agilent Technologies, Beijing Genomics Institute, DNAstar, Oxford Nanopore Technologies and Pacific Biosciences.
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SOURCE Mordor Intelligence LLP