Description

Global Next Generation Sequencing Market was valued at USD 10.4 billion in 2021 and is anticipated to grow at USD 24.3 billion till 2028 recording a CAGR of 18.8% during the forecast period 2022-2028. Next generation sequencing Market is the process of sequencing DNA strands similar to the nucleotides in a DNA molecule. Next-generation sequencing is carried by massive parallelization. Next-generation sequencing reduces the requirements for the fragment-cloning method used in sequencing of the genomes by Sanger’s method. Due to high accuracy, precise results, and low cost, and with low sample, next-generation sequencing is preferred over the Sanger’s method. It is commonly used in oncology studies, biomarker discovery, agricultural and animal research, personalized medicine, and others. In addition, re-sequencing of targets, identification of binding sites of a transcriptional factor, and non-coding RNA expression profiling are other applications of next-generation sequencing. The Global Market is in growing stage, several local and international players are actively involved in the development and marketing of global next-generation sequencing market. Organizations are focusing on the introduction of low-cost sequencing devices in routine medical check-ups. For instance, Grail is focusing on the development of a next generation sequencing technology that allows detection of different types of cancer before the symptoms appear. This test is expected to reach the market by 2019. Furthermore, companies are also engaged in producing genomic data by making it available to research laboratories worldwide. Growing partnerships, collaborations, increasing adoption of NGS among research laboratories and academic institutes, and the launch of services and novel products by market players fuel the growth of global next generation sequencing (NGS) market over the forecast period. Moreover, increase in inclination of drug developers and scientists towards the next generation sequencing technology for the development of personalized medicine is a key driver for the demand of next generation sequencing platforms for gaining insights into the genetic organization. In June 2017, FDA approved Illumina’s next-generation sequencing cancer companion diagnostic test kit, which was developed together with Amgen. In April 2016, Oxford Nanopore Technology released a USB 3.0-interfaced sequencer, the MinION a newer method for multiplexed target enrichment of NGS libraries using the PCR-generated baits. In May 2015, Pacific Biosciences and RainDance Technologies partnered to co-develop and commercialize novel solution for De Novo whole genome assembly

 

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