Next Generation Sequencing Market By Application, Technology, Workflow Is Expected To Reach $27.87 Billion By 2022: Grand View Research, Inc.
Grand View Research has published latest report on Global Next Generation Sequencing Market and predict that the market size will grow to $27.87 billion by 2022 from $2.04 Billion in 2014, growing at a CAGR of 40.1% from 2015 to 2022, introduction of novel techniques in HLA sequencing and prenatal testing is expected to drive market growth during the forecast period.
The global market for next generation sequencing is expected to reach USD 27.87 billion by 2022, according to a new study by Grand View Research, Inc. Technological developments in the field of genomic sequencing is expected to cause a decline in the cost of sequencing per base pair and thereby, greatly enhance adoption and usage rates of next generation sequencing over the forecast period. With this expected increase in usage of whole genome sequencing, a consequent increase in revenue from HLA and prenatal testing segments is also expected, owing to the introduction of more informative novel phase resolved single cycle reads. Growing incidences of cancer and infectious diseases are further expected to fuel the growth of the next generation sequencing market over the forecast period.
Full research report on Global Next Generation Sequencing Market with detailed figures and charts available at:
Global next generation sequencing market, by application, 2012-2022 (USD billion)
Further key findings from the study suggest:
Targeted sequencing&resequencing was the leading technology segment of the market in 2014, majorly owing to rapidly growing demand in oncology and infectious diseases related research. Sequencing of targeted genes allows researchers to gain insights into the functioning of cancer cells and pathogenic life cycles. Growing incidences of life threatening forms of cancer and infectious diseases is a high impact rendering factor expected to contribute to the growth of this segment over the forecast period.
The next generation sequencing based oncology market is expected to lead the market in terms of revenue throughout the forecast period. However, the use of NGS in fields of HLA and prenatal testing are expected to grow at a relatively higher rate through to 2022, owing to the introduction of techniques which can enable researchers to acquire phase-resolved HLA and prenatal sequences in single cycle reads. In addition, recent developments are expected to solve sequencing ambiguity issues and provide greater insights about genetic functioning.
Next generation sequencing was the largest workflow segment of the market in 2014. The introduction of technologically advanced genome sequencing platforms and the growing demand for personalized medicine are two factors likely to drive segment growth over the forecast period.
Next generation sequencing based data analysis is also expected to grow at a considerably high rate during the forecast period. Large amounts of sequencing data generated from extensive R&D initiatives and the subsequent growth in demand for storage and analysis are some factors attributing to the segment’s rapid growth.
North America emerged as the leading regional market in 2014. High R&D investment directed towards the development of genome sequencing, presence of sophisticated technology framework, increasing adoption rates of whole genome sequencing and the reduction in cost of sequencing per base pair are some factors accounting for the region’s large market share.
Key participants of the next generation sequencing market include GATC Biotech AG., Life Technologies (Thermo Fisher Scientific), 454 Life Sciences Corp. (Roche Holding AG), Pacific Biosciences, Agilent Technologies Inc., Macrogen Inc., Beijing Genomics Institute, Biomatters Ltd., CLC bio (Qiagen), Illumina Inc., DNASTAR Inc., Knome Inc., Qiagen NV., Helicos BioSciences, and Oxford Nanopore Technologies.
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For the purpose of this study, Grand View Research has segmented the next generation sequencing market on the basis of technology, workflow, application and region:
Global Next Generation Sequencing Application Outlook (Revenue, USD Billion, 2012 – 2022)
Global Next Generation Sequencing Technology Outlook (Revenue, USD Billion, 2012 – 2022)
Whole Genome Sequencing
Whole Exon Sequencing
Global Next Generation Sequencing Workflow Outlook (Revenue, USD Billion, 2012 – 2022)
NGS Data Analysis
Next Generation Sequencing Regional Outlook (Revenue, USD Billion, 2012 – 2022)
This Market research report by Grand View Research can also be accessed at:
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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