Next-generation Sequencing (NGS) - Growth, Trends, and Forecast (2020 - 2025)
Market Overview
The major factors, such as increasing applications of NGS, speed, cost, and accuracy, efficient replacement for traditional technologies, and drug discovery applications demanding NGS technology are expected to drive the growth of the overall market.
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NEW YORK, Feb. 20, 2020 /PRNewswire/ -- The rapid speed, cost, and accuracy of the NGS technology help in the growth of the market. This is attained with the help of modern DNA sequencing technology, which has contributed to the sequencing of complete DNA sequences of numerous types and species of life. It is also found that NGS is significantly cheaper, quicker, and needs significantly lesser DNA, which helps in the overall growth of the market.
The NGS has the potential to accelerate the early detection of disorders and the identification of pharmacogenetics markers to customize its treatments.
There are various technological advancements in the field of medicine that are growing at a rapid pace and has led to the development of personalized medicine. There are a huge number of applications of next-generation sequencing in personalized medicine. Thus, the development of personalized medicine has opened many avenues for the application of NGS, which could accelerate the market growth.
The current market is also facing challenges, owing to the difficulty in management of large data and complications, associated with Big Data management. In addition, some of the ethical issues associated with whole-genome sequencing, coupled with the lack of awareness among people, are pulling back the growth of the market.
Scope of the Report
As per the scope of this report, NGS is a technology in which millions of DNA strands can be sequenced through massive parallelization; this technique is also known as high throughput sequencing. The low cost, high accuracy and speed, and precise results even from low sample input are the main advantages NGS offers over Sanger's sequencing method. NGS is, therefore, being used to execute various applications, such as biomarker discovery, oncology studies, personalized medicine, and agricultural and animal research, among others. Thus, the NGS market has transformed the genomics and molecular diagnostics landscape.
Key Market Trends
Genetic Screening is the Segment Under Application that is Expected to Grow Fastest During the Forecast Period
In genetic screening, the NGS is highly useful in identifying monogenic diseases with locus heterogeneity, such as blindness, deafness, movement disorders, mitochondrial disease, hereditary cancers, etc. Therefore, NGS has a large number of varied applications through genetic screening in multiple disorders, but their affordability and availability in high-income and low-income countries may differ a lot. The entire genomes are being mapped at affordable costs. Thus, steady growth is expected in the forecast period.
The NGS is also emerging as a powerful promising pathogen-detection method for infectious-disease diagnostics. It helps in the identification and genomic characterization of bacteria, fungi, parasites, and viruses, without the need for prior knowledge of a specific pathogen, directly from clinical specimens. As the diseases caused by infections are increasing in the less-developed countries, the NGS-powered diagnosis of these infections has become the most promising method to detect these infectious diseases. The NGS also has applications in personalized medicine that has started becoming a reality and has been under application by various biotechnology companies.
Asia-Pacific is the Fastest-growing Market and is Expected to Follow the Same Trend over the Forecast Period
The market studied is expected to grow at the fastest pace in Asia-Pacific. The rising focus of the major market players is on delivering advanced, efficient NGS technology to the developing countries, in order to cater to the need for genomic medicines and whole genome sequencing for personalized medicine. In addition, the increasing adoption of NGS technology by the non-government and government bodies, along with increased investment of the private players, is expected to drive the Asian market.
Competitive Landscape
There are major biotech industries that are making large investments on evolving preventive vaccines and therapeutic vaccines that can stop or cure diseases, varying from viruses to cancers. The biotech industry, thus, uses the NGS to develop advanced diagnostic kits, in order to screen for pathological conditions and infectious diseases.
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