MarketResearchReports.biz: Global Next Generation Sequencing (NGS) Technologies Market to Witness Highest Growth in Asia Pacific to 2020
Albany, NY (PRWEB) December 10, 2014 -- Next generation sequencing has brought about a paradigm shift in human genome sequencing by cutting down both time and cost required for sequencing. To put things into perspective, the first human genome was sequenced at a cost of about US$3 billion and took about a decade. However, with rapid advancements in sequencing technologies, experts opine that this process can be completed in a mere day or two, with at a cost of no more than US$1,000 approximately.
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There has been a rapid decrease in the cost of sequencing over the last five years, and this has spurred unprecedented growth in the overall market for sequencing technologies. While the use of next generation sequencing technologies was earlier limited to research establishments, these technologies are now accessible to players in the infectious diseases and clinical diagnostics market. The report takes into account both of these areas, and describes the existing and anticipated applications of next generation sequencing technologies.
As per the findings of the report, the global next generation sequencing (NGS) technologies market is poised to be worth US$5 billion by the end of 2020, growing at a CAGR of over 20%. The NGS market can be broken down into broad segments such as applications, products, end-users, technologies, and geography. The market for NGS products has been further segmented into: workflow products, services, and instruments and reagents. The largest segment in 2013 was that of instruments and consumables with over 50% market share, as of 2013. The NGS services segment is likely to witness the fastest growth over the forecast period of this report as most major players are showing an active interest in offering next generation sequencing (NGS) services because it offers an additional source of income for the company while also helping to increase the sales of reagents and instruments.
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The market for next generation sequencing (NGS) technology is further classified into: RNA sequencing, targeted re-sequencing, whole genome sequencing, whole exome sequencing, de novo sequencing, ChIP sequencing, and methyl sequencing. Of all of these segments, the targeted re-sequencing technology segment constituted the largest share of over 25% of the entire NGS technology market as of 2013. This segment is poised to register a strong CAGR through the forecast period. The sector of whole genome sequencing will likely register the highest CAGR, as it is expected to occupy a market share of about 15% of the entire market by 2020. The two technologies of targeted resequencing as well as whole genome sequencing are being touted as the most promising prospective technologies in the NGS market in the future.
The market for next generation sequencing (NGS) can also be studied by end users as: Hospitals and clinics, academics, biotech/pharma and other end users (such as commercial labs and nonprofit organizations). The segment of academic research holds the largest share within the end-user market, according to 2013 figures. However, the clinics and hospitals segment will show the fastest growth over the forecast period of this report.
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Similarly, based on applications, the Next generation sequencing (NGS) market is classified as: Genetic screening, oncology, drug & biomarker discovery, infectious diseases, agriculture, molecular epidemiology, and other applications. Here, it is oncology that dominated as of 2013, whereas infectious diseases will grow fastest through the forecast period. By geography, North America stood as the dominant share holder in the global next generation sequencing (NGS) market with a share of over 40% in 2013. But APAC will grow fastest with a projected CAGR of 20% or more through the period of forecast. This report also profiles leading market players in detail.
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