The Global Next Generation Sequencing Market, by Technology (Whole Genome Sequencing, Whole Exome Sequencing, RNA Sequencing, Targeted Re-sequencing, and Others), by Application (Drug Discovery, Personalized Medicine and Genetic Screening, Disease Diagnosis, Agriculture and Animal Research, and Others), by End User (Hospital, Research Centers, Pharma and Biotech Firms, and Others) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 5.6 billion in 2017 and is projected to exhibit a CAGR of 18.1% over the forecast period (2017 – 2025), as highlighted in a new report published by Coherent Market Insights. The next generation sequencing market is expected to gain significant traction, due to increasing demand for NGS platforms for early diagnosis of diseases.
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Increasing demand for NGS platforms is expected to drive growth of the market
Increasing use of long-read sequencing technologies such as 10X Genomics, Oxford Nanopore, and PacBio coupled with diversification of sequencing options, due to launch of multiple new platforms by various players is driving growth of the next generation sequencing market. Long read sequencing technology provides a more reliable assembly. NGS technologies along with bioinformatics analysis are increasingly used to simultaneously study multiple genes in a time and cost-effective manner and have been useful in analyzing clinical cancer samples and molecular diagnosis. The technology is a useful tool for diagnosis of a number of cancers. Furthermore, increasing incidence of Alzheimer’s and other hereditary diseases is contributing to growth of the exome sequencing segment in the next generation sequencing market. According to World Alzheimer Report in 2016, an estimated 46.5 million people were suffering from Alzheimer’s disease and the number is projected to reach 50 million in 2017.
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