Global Next Generation Sequencing Technologies Market Analysis - Trends & Forecast to 2020
Albany, NewYork (PRWEB) November 28, 2014
The major factors driving the NGS market include the reduced cost and high speed of NGS technology, increased use in the clinical segment, new application areas of NGS and switch over from microarrays to NGS. However, the standardization of NGS for clinical use, complexity in data interpretation, shortage of skilled labor and dependence of grants and funding for NGS infrastructure are restraining the market growth. The factors such as demand for NGS technology especially in drug discovery and development, growth of personalized medicine using NGS, increased medical spending along with the rise in incidences of chronic diseases are providing opportunities for the market growth.
Further, the NGS market is segmented by geography into North America, Europe, Asia-pacific and Rest of the World. North America holds the largest share of the global NGS market accounting for around more than 40% in 2013 and Asia-Pacific is the fastest growing region with a CAGR of more than 20% during the forecast period.
The major players operating in the NGS market are Illumina Inc (U.S.), Thermo Fisher Scientific (U.S.), Hoffmann-La Roche Ltd (Switzerland), Pacific Bioscieces (U.S.) Agilent Technologies (U.S.), BGI (Beijing Genomics Institute) (China), Qiagen (Netherlands), Biomatters Ltd (New Zealand), and Genomatix Software GmbH (Germany).
This report provides in-depth market assessment across the major geographies such as:
Rest of the World (RoW)
Reasons to Buy:
Next Generation Sequencing market revenue and market volume
Next Generation Sequencing market assessment of sequencing runs by end users across the globe
Key insights on emerging applications in the clinical segment
Major player profiles
NGS technology is segmented into targeted resequencing, whole exome sequencing, RNA sequencing, whole genome sequencing, ChIP sequencing, de novo sequencing and methyl sequencing. Among these targeted re-sequencing technology accounted for the largest share of more than 25% of the technology market in 2013 and is expected to grow at a strong CAGR during the forecast period. Whole genome sequencing is poised to grow at the highest CAGR and expected to reach a share of more than 15% of the total market by 2020. Targeted resequencing and whole genome sequencing technologies are the prospective technologies as various targeted disease based NGS assays and panels are emerging and use of personalized medicine transforms with the understanding of individual’s whole genome imprint.
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The NGS market by end users is divided into academics, hospitals and clinics, biotech and pharma and other end users, which include nonprofit organizations and commercial labs Out of these end users, academic research holds the largest share of the end user market in 2013. The fastest growing segment is hospitals and clinics which has the highest CAGR during the forecast period. Currently academic institutes dominate the market but hospitals along with clinical laboratories are supposed to be the leading segment in the coming years as clinical NGS applications is rapidly rising.The NGS applications market is classified into clinical and non-clinical applications. By application type, the market is segmented into oncology, genetic screening, infectious diseases, drug & biomarker discovery, molecular epidemiology, agriculture and other applications. Among the overall applications market oncology holds the lions share in 2013, Infectious diseases is expected to grow at the highest CAGR during the forecast period.
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