The next generation sequencing (NGS) market growth will be fostered by the introduction of efficient and advanced sequencing technologies and its extensive application in analyzing DNA.
The next generation sequencing (NGS) market growth will be fostered by the introduction of efficient and advanced sequencing technologies and its extensive application in analyzing DNA. The surging number of genetic disorders globally will augment demand for next gen sequencing methods for developing drugs to treat these diseases.
As per WHO, about 2%-5% of all live births suffer from genetic disorders and congenital abnormalities, causing nearly 50% of childhood deaths in developed countries. Additionally, mutations in the genes which is responsible for cell multiplication and repair cause most chronic diseases such as cancer globally. The introduction of advanced sequencing techniques will play a key role in analyzing the root cause of these chronic disorders and to develop novel therapies.
According to a Global Market Insights, Inc., report, global next generation sequencing industry size will surpass US$15 billion by 2025. Described below are some key factors impacting the market outlook.
Demand for NGS instruments
The instrument segment of next generation sequencing market is expected to witness a 20% CAGR up to 2025. The availability of technologically advanced NGS instruments that allow scientists and researchers to efficiently conduct drug discovery procedures will benefit the pharmaceutical sector. The cost-effectiveness of NGS instruments aid in reducing capital expenses required for research activities drastically. For example, Illumina launched its latest high-output instrument Novaseq in 2107. The introduction of Novaseq has enabled the sequencing of large databases at considerably low costs.
Research application of next gen sequencing
The significant growth across research application is predominantly attributed to the high prevalence of rare genetic diseases that have encouraged the development of novel gene therapies and treatment. NGS consumables and instruments are thoroughly utilized in genome sequencing which helps in identifying the nature of the disease. Various benefits of NGS instruments will propel its high adoption for applications in research processes. Reportedly, next generation sequencing industry size from research application accounted for nearly 40% revenue share in 2018.
Utilization of exome sequencing
Exome sequencing is mainly utilized to identify a certain protein-coding region of genes that amplifies the explicitness of the sequencing process. Doctors and researchers highly prefer this method for analyzing genome sequence. Notably, the annual valuation of the exome sequencing category was valued at US$1.8 billion in 2018 and is anticipated to grow significantly in the forthcoming years.
To access sample pages of this report titled, “Next Generation Sequencing Market Size By Product Type (Instruments, Consumables, Services), By Application (Research Application, Clinical Application {Cardiovascular, Reproductive Health, Cancer, Infectious Diseases), By Type (Whole Genome Sequencing, Exome Sequencing, Targeted Sequencing), By Technology (Sequencing by Synthesis, Ion Semiconductor Sequencing), End-user (Academic Institutes & Research Centers, Hospitals & Clinics, Pharmaceutical & Biotechnology Companies) Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2019 - 2025” in detail along with the table of contents, please click on the link below:
https://www.gminsights.com/request-sample/detail/3247
Drug development for genetic disorders
Contribution of pharmaceutical and biotechnology firms to the next generation sequencing industry will experience a 21% CAGR through 2025. These firms are emphasizing on extensive R&D activities to develop effective drugs for treating several genetic and chronic conditions. The adoption of technologically advanced NGS instruments allows these companies to manufacture commercially viable and reliable drugs.
Favorable regulatory norms in the U.S.
Ongoing research and development activities for drug discovery and the presence of well-equipped laboratories are some ideal scenarios for next gen sequencing business expansion in the U.S. Extensive government funding and support has fostered high adoption of NGS instruments in research processes. Favorable regulatory norms and trade policies will uplift industry growth in the region. Reportedly, the next generation sequencing industry in North America is estimated to observe nearly 20.3% CAGR over the coming years.
The development of next generation sequencing technologies has drastically transformed data interpretation, gene mapping, and analysis of large genome sequence that help scientists and researchers develop drugs for various diseases. For example, NGS technology usage in pathogen detection is considered as an alternative method to characterize unwanted pathogens in clinical specimens. Increasing utilization of NGS instruments in various clinical settings and developing drugs will foster industry expansion.
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