The Worldwide Targeted Sequencing Industry is Projected to Reach $10.9 Billion by 2032: Rising Need for Sequencing at Greater Depth Drives Growth

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Feb 10, 2023, 22:20 ET

DUBLIN, Feb. 10, 2023 /PRNewswire/ -- The "Targeted Sequencing Market - A Global and Regional Analysis: Focus on Product Type, Target Enrichment Method, Type of Target Capture, Application, End User, and Region Analysis - Analysis and Forecast, 2022-2032" report has been added to ResearchAndMarkets.com's offering.

The global targeted sequencing market is projected to reach $10,976.1 million by 2032 from $3,198.8 million in 2022, growing at a CAGR of 13.12% during the forecast period 2022-2032.

The growth in the global targeted sequencing market is expected to be driven by the increased use of targeted sequencing in clinical laboratories and diagnostic applications, especially in cancer research.

Market Lifecycle Stage

Targeted sequencing is a cost-effective and rapid way to detect novel and known variants in selected genetic or genomic regions. There are several different methods of DNA/RNA sequencing depending on the scale of the region being sequenced.

Next-generation sequencing (NGS) is the most used method for targeted sequencing, which offers good scalability, speed, and resolution to evaluate the targeted regions of interest. Other methods include sanger sequencing and CRISPR.

The major advantage of targeted sequencing as compared to whole genome sequencing is the smaller and more manageable data sets created, which are significantly easier to analyze.

Targeted next-generation sequencing focuses on specific genomic areas of interest, which is ideal for examining specific pathways or targeted resequencing. Furthermore, it is more rapid and cost-effective as compared to whole genome sequencing and allows deeper sequencing. This is a powerful and especially sensitive method of identifying gene mutations and variants, including rare variants.

Impact

The presence of major kits/panels and assay providers of targeted sequencing has a major impact on the market. For instance, in September 2022, Thermo Fisher Scientific Inc. received FDA approval for its Oncomine Dx Target Test. This is a companion diagnostic (CDx) test for RET-fusion-positive or metastatic non-small cell lung cancer patients.
Companies such as Danaher. (Integrated DNA Technologies, Inc.) partnered with Munich Leukaemia Laboratory (MLL)in March 2022 to join the company's align program. The extensive sequencing portfolio of MLL combined with the company's xGen portfolio of NGS solutions helped researchers with their NGS workflow needs.

Recent Developments in Global Targeted Sequencing Market

In August 2022, QIAGEN N.V. launched its QIAseq targeted DNA pro panels and the QIAseq UPXome RNA library kit as an expansion of its next-generation sequencing (NGS) portfolio. Both these launches lead to the growth of the company's sequencing product portfolio.
In September 2022, BGI Group (MGI Tech Co., Ltd.) launched its DNBSEQ-G99, which is a mid to low-range throughput sequencer. This makes this sequencer especially suitable for targeted gene sequencing, small gene sequencing, and high and rapid-quality data output.
In June 2022, Agilent Technologies, Inc. announced its collaboration with the Amazon Elastic Compute Cloud (Amazon EC2) G5g powered by Amazon Web Services (AWS) Graviton2 processors. The NVIDIA T4G Tensor Core GPUs, combined with NVIDIA Clara Parabricks' advanced genomics capabilities, improved Agilent Technologies, Inc.'s cloud-native Alissa Reporter software. This collaboration is expected to streamline the company's SureSelect family NGS assays, which comprise a wide range of custom and catalog panels.
In June 2022, Danaher. (Integrated DNA Technologies, Inc.) made an agreement with Beckman Coulter, Inc. Life Sciences for the distribution of its Biomek NGenius Next Generation Sequencing Library Prep System. This deal helped make high-performance NGS solutions more accessible to laboratories.

Demand - Drivers and Limitations

The following are the demand drivers for the global targeted sequencing market:

Rising Need for Sequencing at Greater Depth
Lower Cost and Data Burden of Targeted Sequencing When Compared to Whole Genome Sequencing
Increase in Cancer Prevalence

The market is expected to face some limitations too due to the following challenges:

Lack of Knowledge About New Genes and Biomarkers
Lack of High Complexity Genomic Testing Centers in High Potential Markets

Key Market Players and Competition Synopsis

The companies that are profiled have been selected based on inputs gathered from primary experts, analyzing company coverage, product portfolio, and market penetration.

The top segment players leading the market include targeted sequencing instruments, kits/panels and assays, services, and other product types providers. Targeted sequencing instrument providers constitute around 10.20% of the presence in the market, kits/panels and assays constitute 24.81% of the market, services providers constitute about 58.53% of the market, and other product types constitute 6.47% of the targeted sequencing market.

Key Companies Profiled

Agilent Technologies, Inc.
Azenta US, Inc. (GENEWIZ)
BGI Group (MGI Tech Co., Ltd.)
CD Genomics
Daicel Corporation (Daicel Arbor Biosciences)
Danaher. (Integrated DNA Technologies, Inc.)
F. Hoffmann-La Roche Ltd
Illumina, Inc.
LGC Limited (LGC Biosearch Technologies)
PacBio.
PerkinElmer Inc.
Psomagen
QIAGEN N.V.
Takara Bio Inc.
Tecan Trading AG
Thermo Fisher Scientific Inc.
Twist Bioscience.

Key Topics Covered:

1 Markets

2 Market Overview
2.1 Market Overview
2.1.1 Market Definition
2.1.2 Market Footprint and Growth Potential
2.1.3 Future Potential
2.1.4 Comparison of Whole Genome Sequencing, Whole Exome Sequencing, and Targeted Sequencing Methods
2.1.5 Evolution of Targeted Sequencing (Sanger Sequencing vs. NGS)
2.1.5.1 First-Generation Sequencing
2.1.5.2 Second-Generation Sequencing (Next-Generation Sequencing)
2.1.5.3 Third-Generation Sequencing
2.1.6 COVID-19 Impact on Targeted Sequencing Market
2.1.6.1 Impact on Research and Clinical Operations
2.1.6.2 COVID-19 Impact: Current Scenario of the Market

3 Industry Analysis
3.1 Legal Requirements
3.1.1 Legal Requirements and Framework in the U.S.
3.1.2 U.S. FDA Published Guidance
3.1.3 U.S. FDA Regulations
3.1.4 Legal Requirements Framework in Europe
3.1.5 Legal Requirements and Framework in Asia-Pacific
3.1.5.1 China
3.1.5.2 Japan
3.1.5.2.1 Pharmaceuticals and Medical Devices Agency (PMDA)
3.1.5.2.2 Ministry of Health, Labour and Welfare (MHLW)
3.1.5.3 India
3.2 Patent Analysis
3.2.1 Patent Filing Trend
3.2.2 Patent Analysis (by Year)
3.2.3 Patent Analysis (by Country)
3.2.4 Patent Analysis (by Region)

4 Market Dynamics
4.1 Overview
4.2 Impact Analysis
4.3 Market Drivers
4.3.1 Rising Need for Sequencing at Greater Depth
4.3.2 Lower Cost and Data Burden of Targeted Sequencing When Compared to Whole Genome Sequencing
4.3.3 Increase in Cancer Prevalence
4.4 Market Challenges
4.4.1 Lack of Knowledge About New Genes and Biomarkers
4.4.2 Lack of High Complexity Genomic Testing Centers in High Potential Markets
4.5 Market Opportunities
4.5.1 Increasing Use in Clinical Research and Trials for Better Disease Pathogenesis and/or Clinical Relevance
4.5.2 Rising Adoption of Targeted Sequencing in Targeted Therapeutics

5 Competitive Landscape
5.1 Overview
5.2 Corporate Strategies
5.2.1 Mergers and Acquisitions
5.2.2 Synergistic Activities
5.3 Business Strategies
5.3.1 Product Launches/Upgradations
5.3.2 Business Expansion and Funding
5.4 Supply Chain Analysis
5.4.1 Key Entities in Supply Chain
5.5 Market Share Analysis (by Company)
5.6 Growth Share Analysis
5.6.1 Growth Share Analysis (by Application)
5.6.2 Growth Share Analysis (by End User)

6 Global Targeted Sequencing Market (by Product Type), ($Million), 2021-2032
6.1 Overview
6.2 Services
6.3 Kits/Panels and Assays
6.4 Instruments
6.5 Other Product Types

7 Global Targeted Sequencing Market (By Target Enrichment Method), ($Million), 2021-2032
7.1 Overview
7.2 Amplicon Sequencing
7.3 Hybridization Capture
7.4 Other Target Enrichment Methods

8 Global Targeted Sequencing Market (by Type of Target Capture), $Million, 2021-2032
8.1 Overview
8.2 Targeted DNA Sequencing
8.2.1 Targeted Methyl Sequencing
8.3 Targeted RNA Sequencing
8.3.1 Targeted Metagenomic Sequencing
8.4 Other Types of Target Capture

9 Global Targeted Sequencing Markets (by Application), $Million, 2021-2032
9.1 Overview
9.2 Oncology
9.2.1 Solid Tumor
9.2.2 Liquid Biopsy
9.2.3 Minimal Residual Disease Testing
9.2.4 Circulating Tumor Cell (CTC) Analysis
9.3 Infectious Diseases
9.4 Cardiovascular Diseases
9.5 Reproductive Health
9.5.1 Carrier Screening
9.5.2 Non-Invasive Prenatal Testing
9.5.3 Preimplantation Genetic Diagnosis (PGD)
9.5.4 Newborn Screening
9.6 Rare Diseases
9.7 Neurological Disorders
9.8 Hereditary Diseases
9.9 Other Applications

10 Global Targeted Sequencing Market (By End User), ($Million), 2021-2032
10.1 Overview
10.1.1 Academic and Research Institutions
10.1.2 Pharmaceutical and Biotech Companies
10.1.3 Diagnostic and Clinical Laboratories
10.1.4 Other End Users

11 Global Targeted Sequencing Market, by Region, $Million, 2021-2032
11.1 Overview
11.2 North America
11.2.1 U.S.
11.2.2 Canada
11.3 Europe
11.3.1 Germany
11.3.2 France
11.3.3 U.K.
11.3.4 Italy
11.3.5 Spain
11.3.6 Rest-of-Europe
11.4 Asia-Pacific
11.4.1 China
11.4.2 Japan
11.4.3 India
11.4.4 Australia
11.4.5 South Korea
11.4.6 Rest-of-Asia-Pacific
11.5 Latin America
11.5.1 Brazil
11.5.2 Mexico
11.5.3 Rest-of-Latin America
11.6 Rest-of-the-World (RoW)

12 Company Profiles
12.1 Overview
12.2 Market Value Chain of Targeted Sequencing Market
12.3 Agilent Technologies, Inc.
12.4 Azenta US, Inc. (GENEWIZ)
12.5 BGI Group (MGI Tech Co., Ltd.)
12.6 CD Genomics
12.7 Daicel Corporation (Daicel Arbor Biosciences)
12.8 Danaher. (Integrated DNA Technologies, Inc.)
12.9 F. Hoffmann-La Roche Ltd
12.10 Illumina, Inc.
12.11 LGC Limited (LGC Biosearch Technologies)
12.12 PacBio.
12.13 PerkinElmer Inc.
12.14 Psomagen
12.15 QIAGEN N.V.
12.16 Takara Bio Inc.
12.17 Tecan Trading AG
12.18 Thermo Fisher Scientific Inc.
12.19 Twist Bioscience.
12.20 Emerging Companies
12.20.1 MedGenome
12.20.2 Novogene Co, Ltd.
12.20.3 Paragon Genomics, Inc.
12.20.4 Sage Science, Inc.
12.20.5 Zymo Research Corporation.

For more information about this report visit https://www.researchandmarkets.com/r/500fwu

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