BCC Research Publishes a New Report on Global Markets for Next Generation Sequencing (NGS)
Wellesley, MA (PRWEB) August 14, 2013 -- According to a new technical market research report, Next Generation Sequencing: Emerging Clinical Applications and Global Markets (Report code: BIO126A) from BCC Research (http://www.bccresearch.com), the global market for next generation sequencing is expected to reach $510.7 million in 2013. BCC Research forecasts the market to reach $7.6 billion by 2018, and register a five-year compound annual growth rate (CAGR) of 71.6% for the period 2013 to 2018.
The Human Genome Project (HGP) moved DNA sequencing technology to the forefront of life science research as a genetic analysis tool. The HGP led to significant improvements in the efficiency and costs of DNA sequencing. In 2005, the launch of next generation sequencing (NGS) technologies changed the structure of the industry radically and opened up exciting new market applications. As a result, the costs of sequencing have rapidly reduced to the point where it is now feasible for complex NGS tests to be priced in the range of other multiplex genetic tests.
The NGS clinical market is still relatively young and emerging, yet it holds great commercial promise. BCC Research expects the decline in sequencing costs and NGS informatics (i.e., the handling and interpretation of massive amounts of genetic data) to emerge as a key focus area for clinical applications in the future.
NGS pre- and post-natal diagnostics comprise an important current market segment. The pre- and post-natal disease class, as a segment, is expected to reach $393.3 million in 2013. BCC Research projects this market to grow to nearly $2.1 billion in 2018, and register a CAGR of 39.4%. NGS-based diagnostics for cancer also present a significant high-growth market opportunity. The cancer disease class, as a segment, is expected to reach $63.7 million in 2013. This segment is projected to reach nearly $2.5 billion in 2018, and register a CAGR of 108.3%.
According to BCC Research, the global market for NGS is being driven by the clinical value of many applications and the commercial success of several tests. The commercial potential of NGS is further enhanced with payors and insurance companies offering coverage for these tests.
NGS is a game-changing technology that is maturing at the right time for it to make a major impact on molecular diagnostics. This new report examines the technology and studies its clinical markets in detail to provide a context for strategic decision making. The report provides a comprehensive discussion of NGS technologies, clinical applications, industry structure, important clinical sequencing initiatives, global markets, patent status, and companies.
This report will be useful to companies involved in the clinical, genetic testing and sequencing industries. It will be particularly valuable for companies in industries such as life science research tools, NGS instruments, molecular diagnostics, informatics clinical laboratories, pharmaceutical, biotechnology, microfluidics, lab-on-a-chip, and sample preparation.
Steven Cumming, BCC Research, http://www.bccresearch.com, +1 (781) 489-7301 632, [email protected]
Share this article