Hyderabad, India (PressExposure) May 14, 2015 -- The Global Next Generation Sequencing Market is expected to reach $10 billion by the end of 2020 growing at a CAGR of approximately 20% from 2014 to 2020. Next Generation Sequencing is the method of determining the correct order of nucleotides within a DNA molecule.
The factors which are augmenting the growth of the market are increasing applications in clinical diagnosis, efficient replacement for traditional technologies and drug discovery applications demanding NGS technology. Also the market growth is driven by the speed, cost and accuracy of the technology.
However, legal & ethical issues and lack of skilled personnel are hampering the growth of the NGS technology market.
The Global Next Generation Sequencing Market can be segregated on the basis of Technology, Products, End Users, Applications and Geography. Geographically, the market is segmented into North America, Europe, Asia Pacific and Rest of the World. The application segment of this market can be segmented into Drug Discovery, Genetic Screening, Diagnostics, Personalized Medicine, Agriculture & Animal Research, Infectious Diseases and Others. Currently, drug discovery segment of the applications market is the largest in the world which is closely followed by genetic screening. Drug discovery is the process through which new medicines are identified in the fields of medicine, biotechnology and pharmacology. The drug discovery market is mainly driven by the evolution of new diseases and the need to treat these diseases. Recently the outbreak of Ebola has led to an intense discovery of medicines to cure the disease. The costs involved in drug discovery and development are quite significant. The use of therapeutically active compounds found in natural resources like micro-organisms, plants, etc. can be cost effective and a feasible source of bio-therapeutic agents.
The infectious diseases segment is the fastest growing segment in the applications market. The next generation sequencing techniques has revolutionized the diagnostics of infectious diseases. The newly developed technique for diagnosis of infectious diseases is the polymerase chain reaction (PCR). This technique is fast, digitized, low cost, sensitive and specific. Multiplexed PCR assays are developed for simultaneous detection of several agents. The newly developed multiplexed PCR assays are further driving the infectious diseases segment.
Currently, the major players in the market are Illumina Inc (U.S.), Thermo Fisher Scientific (U.S.), Hoffmann-La Roche Ltd (Switzerland), Pacific Biosciences (U.S.) Agilent Technologies (U.S.), BGI (Beijing Genomics Institute) (China), Qiagen (Netherlands), Biomatters Ltd (New Zealand), and Genomatix Software GmbH (Germany).The fastest growing segment in the overall market is the services sector and is growing at the highest CAGR in the forecasted period. The major players are interested in the services segment as it provides additional revenue for the company and at the same time increases the sales of instruments and reagents.