Global Demand & Market
The demand for low-cost sequencing has driven the development of high-throughput sequencing, know known as Next Generation Sequencing (NGS, or NextGenSeq) is a new method for sequencing genomes at high speed.
The next generation sequencing market is expected to reach USD 10,371.1 Million by 2021 from USD 4,031.7 Million in 2016, at a CAGR of 20.8% between 2016 and 2021. Technological advancements in NGS products, increasing applications of NGS, entry of new market players, and increasing partnerships & collaborations among market players majorly drives the growth of the next generation sequencing market. Other growth factors include growing incidences of cancer, inherited rare disorders, and pre- and neonatal disorders.
The end users of the NGS market include research centers & academic/government institutes, hospitals & clinics, pharmaceutical & biotechnology companies, and others (non-profit organizations & aggri genomics organizations). In 2016, the research centers & academic/government institutes end user segment is expected to account for the largest share of the NGS market, by the end user.
The global next generation sequencing market is segmented into sequencing by synthesis (SBS), ion semiconductor sequencing, sequencing by ligation (SBL), pyrosequencing, and single-molecule real-time (SMRT) sequencing. In 2016, the SBS technology is expected to account for the largest share of the global NGS market, by technology.
North America, followed by Europe, dominates the global next generation sequencing market, due to rising government support towards research and development. Asia is expected to witness high growth in next generation sequencing due to rising investment in India and China on research and development of next-generation sequencing.