The Global Next Generation Sequencing (NGS) Market was valued at US$ XX billion in 2016 and is expected to grow at around XX% CAGR to reach nearly US$ XX billion by 2022. Next generation sequencing refers to various DNA sequencing methods that perform sequencing of millions of small DNA fragments in parallel and thus, massively speed up the process of DNA sequencing. NGS methods can be of different types such as synthesis sequencing, ligation sequencing, single molecule sequencing, ion semiconductor sequencing, etc. Application of NGS technologies has helped to make genomic sequence information available for practical purposes. Rapidly advancing technology and increasing areas of application of genetic information are the main growth drivers for the market.
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End Users
The end users of the global next generation sequencing (NGS) market are mainly biotechnology firms, research centres, hospitals, government institutes, biotechnology firms, and others. The end users use NGS methods for various purposes like diagnostics, research, predictive diagnostics, etc. The development of more efficient and accurate NGS technologies is expected to expand the end user base for the market.
Market Dynamics
The global next generation sequencing (NGS) market is highly dynamic with new products and innovations being regularly introduced. Growing applications of genome sequence information and advances in technology are helping to expand the market. Development of new NGS methods that are more accurate and cost efficient has encouraged the adoption of genetic sequencing methods in previously unexplored areas, thus resulting in growth of the market. Adoption of automation technology is expected to further improve the NGS methods, resulting in increased market size. Other factors that are helping to expand the market are increasing demand for predictive diagnostics and personalized medicine, increase in awareness, increase in disposable incomes, high research interest in genetics, and so on.
The next generation sequencing (NGS) market also faces some constraints such as complicated legal and ethical issues associated with the genetics domain and inconsistent government regulations. Other threats to the market are lack of highly skilled workers who can interpret huge volumes of data, and high R & D costs. Hence, companies have to keep innovating and producing more accurate and efficient products to grow in the market.
Market Segmentation
The global next generation sequencing (NGS) market can be segmented based on type of product, type of technology, application, end users, and geography. Based on type of product, the market can be segmented as consumables, services, reagents and platforms. Based on type of technology, the market can be segmented as synthesis sequencing, ligation sequencing, single molecule sequencing, ion semiconductor sequencing, etc. Based on application, the market can be segmented as diagnostics, animal and agricultural research, drug discovery, general research, and others.
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Regional/Geographic Analysis
Geographically, the Next Generation Sequencing (NGS) market can be divided into North America, Europe, Asia-Pacific (APAC), and Latin America, Middle East and Africa (LAMEA) regions. Currently, North America and Europe account for the largest share of the market. There is strong growth potential in APAC region due to increasing focus on healthcare and technology.
Key Players
Some of the key players in the Next Generation Sequencing (NGS) market are Illumina Inc., Macrogen, Inc., Agilent Technologies, Inc., Thermo Fisher Scientific, and others.
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