Next Generation Sequencing Market Research Report, Competitive Landscape Analysis
The global
next-generation sequencing market is growing significantly due to advances in
next-generation technologies, increasing scientists and researchers’ compliance
for next-generation sequencing, and low cost of next-generation sequencing
methods compared to conventional sequencing methods in the industry. The
unexplored next-generation sequencing market in emerging economies and
increasing focus for the development of personalized medicine are creating
opportunities for the global next-generation sequencing market to grow at a
considerable rate in the coming years. The advanced research and development
activities by the major players are propelling the demand for cost effective
and efficient next-generation sequencing platforms. However, interpretation of
large volume of complex sequencing data through next-generation sequencing
platforms is a major challenge in global next-generation sequencing market.
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Usage of
nanopore sequencing technology for the development of next-generation
sequencing platforms is a trend in global next-generation sequencing market.
Next-generation sequencing provides high throughput sequencing to researchers
and scientists with high specificity and speed, and reduced cost. Conventional
sequencing methods, such as Sanger method that are slower, expensive and
require large amount of template DNA next-generation sequencing, has overcome
these limitations with more accurate results.
Some of
the factors driving the growth of the global next-generation sequencing market
are advances in sequencing technology, increasing adherence of researchers and
scientists for next-generation sequencing, increasing demand for quicker,
cheaper and accurate sequencing methods, and increasing research and
development activities in genomics and proteomics. In addition, the National
Human Genome Research Institute’s goal to reduce human genome sequencing cost
upto 100 times is propelling pharmaceutical and biotechnology companies to
invest large capital for the development of next-generation sequencing; this in
turn is expected to drive the global next-generation sequencing market.
However, complexity of data interpretation and lack of service providers are
some of the factors restraining the growth of the global next-generation
sequencing market to some extent.
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Geographically,
North America will be leading the global next-generation sequencing market in
the coming years due to high healthcare expenditure, technological
advancements, presence of large number of academic and research institutes, and
high scientists’ compliance for next-generation sequencing devices.
Asia-Pacific is the fastest growing region in the global next-generation
sequencing market. The major reasons for the fastest growth in the region are
increasing healthcare expenditure, increasing genomics and proteomics related
research activities and improving healthcare infrastructure. Moreover, the
next-generation sequencing market is growing rapidly due to the government
funding for research activities, and increasing number of academic and research
institutes in emerging economies, such as India and China, of Asia-Pacific
region.
Some of
the major players operating in the global next-generation sequencing market are
Agilent Technologies, Inc., F. Hoffmann-La Roche AG, Biomatters, Ltd., GATC
Biotech AG, Illumina, Inc., Thermo Fisher Scientific, Inc., Pacific
Biosciences, Oxford Nanopore Technologies, Ltd, Macrogen, Inc. among others.
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