SAN FRANCISCO, July 24, 2015 /PRNewswire/ --
The global next generation sequencing market is expected to reach USD 27.8 billion by 2022, growing at an estimated CAGR of 40.1% from 2015 to 2022, according to a new study by Grand View Research, Inc. Development of faster, more efficient genomic sequencing methodologies is expected to result in significant reduction in cost of sequencing one base pair. This is expected to augment adoption and usage rates of next generation sequencing throughout the forecast period. Revenue generation from HLA and prenatal testing segments is also expected to grow owing to the introduction of more informative novel phase resolved single cycle reads. Increasing concern for cancer and R&D related to related oncology and infectious diseases therapies are further expected to fuel the growth of next generation sequencing market throughout the forecast period.
Browse full research report with TOC on "Next Generation Sequencing Market Analysis By Application (HLA Testing, Prenatal Testing, Oncology, Idiopathic & Infectious Diseases), By Technology (Whole Genome Sequencing, Whole Exon Sequencing, Targeted Sequencing & Resequencing), By Workflow (NGS Pre-Sequencing, NGS Sequencing, NGS Data Analysis) And Segment Forecasts To 2022" at: http://www.grandviewresearch.com/industry-analysis/next-generation-sequencing-market
Further key findings from the study suggest:
- Targeted sequencing and sequencing of genetic segments accounted for the largest share of revenue generated in 2014. This is due to the high usage rates of this market segment in the NGS applications for oncology and infectious diseases research. This primarily encompasses targeted sequencig of pathogenic life forms and cancer cells to better understand the mechanics of these diseases to develop faster acting, more efficient treatments and therapies. These factors are expected to fuel the growth of this market throughout the forecast period.
- NGS sequencing segment in the workflow is observed to be the most revenue generating owing to the presence and usage of technologically advanced, capital intensive genome sequencing platforms such as HiSeq and MiSeq. The anticipated increase NGS market adoption is expected to drive demand for this segment over the forecast period.
- Genetic data analysis segment of the market is expected to grow at a high rate in the coming seven years. This is anticipated to be linked to the growth of genomic sequencing segment owing to the rapidly growing market adoption of whole genome sequencing and is expected to drive demand for the overall market throughout the forecast period.
- North America accounted for the largest share of revenue generated for 2014 in the market. This large share can be accounted for by the presence of an enhanced technological healthcare framework, high R&D investment for genomic sequencing; growing adoption of and reduction in cost of sequencing per base pair are the major factors which contribute to the region's dominant market position.
- Asia Pacific is expected to grow at a faster rate over the forecast period owing to, the presence of high unmet market demand, increasing investment for development of healthcare, growing per capita and residual income levels, and growing medical awareness in the region.
- Key participants in the next generation sequencing market include Life Technologies (Thermo Fisher Scientific), Illumina Inc., Pacific Biosciences, 454 Life Sciences Corp. (Roche Holding Ag), Beijing Genomics Institute, Agilent Technologies Inc., Biomatters Ltd., Dnastar Inc., Clc Bio (Qiagen), Knome Inc., GATC Biotech Ag., Qiagen NV., Macrogen Inc., Oxford Nanopore Technologies Inc., and Helicos BioSciences
Browse more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/biotechnology
For the purpose of this study, Grand View Research has segmented the Next Generation Sequencing Market on the basis of product and region:
- Next Generation Sequencing Application Outlook (Revenue, USD Million, 2012 - 2022)
- HLA Testing
- Prenatal Testing
- Idiopathic Diseases
- Infectious Diseases
- Next Generation Sequencing Technology Outlook (Revenue, USD Million, 2012 - 2022)
- Whole Genome Sequencing
- Whole Exon Sequencing
- Targeted Sequencing & Resequencing
- Next Generation Sequencing Workflow Outlook (Revenue, USD Million, 2012 - 2022)
- NGS Pre-sequencing
- NGS Sequencing
- NGS Data Analysis
- Next Generation Sequencing Regional Outlook (Revenue, USD Million, 2012 - 2022)
- North America
- Asia Pacific
- Latin America
- South Africa
- North America
Browse related reports by Grand View Research:
- Personalized Medicine (PM) Market - http://www.grandviewresearch.com/industry-analysis/personalized-medicine-market
- Carcinoembryonic Antigen (CEA) Market - http://www.grandviewresearch.com/industry-analysis/carcinoembryonic-antigen-cea-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
SOURCE Grand View Research, Inc.