Modern healthcare, agriculture, and pharmaceutical industries are rapidly transitioning towards overcoming genetic barriers through the adoption of breakthrough next generation sequencing (NGS) technology. With related genetic mapping processes such as wholesome genome sequencing and DNA sequencing, next generation sequencing market is gradually gaining demand in the past few decades. Its application in developing personalized medicine marks as imperative progress in the global healthcare industry, owing to which NGS market witnessing huge growth prospects in recent times. Additionally, a growing preference for human and plant genomic studies is cultivating collaborative works and creating investment opportunities in the global next generation sequencing market. Similarly, Intermountain Healthcare and deCODE genetics, recently, launched a DNA mapping project in the United States. This will offer possible thrust to the growth and demand of NGS technology in the future years, offering possible benefit to precision medicine and genetic transformation. The global next generation sequencing market is experiencing a healthy demand growth and acquired revenue of $6.8 billion in the year 2018. Also, multifarious industries generated huge demand, which is projected to grow at a robust CAGR of 22.5% during the forecast period of 2019-2025.

Disease diagnosis is one of the crucial processes in the healthcare industry. The NGS analysis of genetic variants for several diseases has transformed modern clinical diagnostic solutions with precision results and causative factors. As the medical industry is adopting these technological advances, geneticists also embracing the NGS diagnostic approaches to restrain genetic limitations and improvise individualistic diseased conditions. With the rising proclivity of genetic consultation and medical genetics to detect the root-cause through effective diagnosis, there is a huge demand for NGS technology. This demand is anticipated to increase at a considerable CAGR of 20.2% through to 2025.

North America is an important region pushing forth diverse genetic researches and biomedical innovations. It is also central to some of the major genetic research organizations constantly uplifting molecular biology and genetic testing. Some of the renowned organizations in this area include The Centre for Applied Genomics, Genetic Information Research Institute, Translational Genomics Research Institute, National Human Genome Research Institute, Joint Genome Institute, and many others. Additionally, with growing concern towards crop loss and agriculture infest by pests and pathogens, several countries in this region have adopted the genetically modified seeds (GMO seeds). Consequently, all these factors drive the demand for NGS technology in this region in genetic study and alteration of certain traits. Significantly North America contributed 30% regional share to the global next generation sequencing market as of 2018.

Promoting Cancer Detection And Treatment:

As the global burden of cancer epidemic is prevailing across the world, various government and non-government organizations are adopting newer techniques to advance the diagnostic and treatment procedures. According to Cancer Research UK, nearly 17 million newer incidences of cancer were recorded, globally, in the year 2018 and is estimated to affect around 27.5 million people by 2040. This is indicative of the necessity for effective drugs and diagnosis to reduce the impending risk of life in the future years. The advent of next generation sequencing has modified and accelerated cancer research widening the scope of identifying and altering genomic functionality to enhance cancer treatment. Additionally, NGS aids in advanced biomarker discovery for cancer revolutionizing prognostic and diagnostic approaches towards this disease. Whereas the traditional Sanger sequencing is a cost-prohibitive and low output method, NGS technology limits these defects, thereby leveraging huge demand in the oncology research application.

Advanced Research Benefits In GMO Seeds:

With the advancement of NGS technology, the agrigenomics sector is experiencing a prominent growth, thereby pushing forth agricultural productivity throughout the world. Scrutinizing and modifying the genomic limitation of certain plant species and seeds improvises the identified traits in crops. Next generation sequencing-based on molecular characterization aids the massive R&D investment initiated by several industries and government organizations worldwide. Additionally, the wide utilization and demand for GMO seeds disrupt the global next generation sequencing market due to the wide benefit of genetically improved microbes-resistant cultivation. The molecular transformation achieved with the help of NGS and newer breakthrough accomplishments has significantly leveraged huge demand for the global NGS market.

Enhanced Medical Genetic Solutions And Precision Medicine:

Rising genetic and chronic diseases across the world are gathering the focus of several geneticists, along with being a prime subject in modern molecular and genetic engineering studies. Cancer and several genetic disorders have cultivated newer evaluation, diagnostic, management technology advances; one of the prime solutions being offered by the next generation sequencing technique. Currently, oncology researches are wide-spreading throughout the world. For instance, the Cancer Research UK invested nearly $243.57 million in London-based cancer treatment development. Requisite funding such as this is likely to spur the demand for NGS incorporation to introduce revolutionary medication solution through genetic modification.

As the global population grows rampantly over the years, newer diseases and epidemics are affecting the normal life expectancy of the people living in every corner of the world. The constant threat of rare diseases along has become a major concern of the countries worldwide. This has led to a higher dependency on personalized medicines to cater to the needs and suitability of every individual patient. The application of next generation sequencing in drug development researches has generated newer possibilities to the modern healthcare sector in improvising treatment facilities and curing several diseases. Moreover, currently, around 350 million patients encounter rare diseases, and nearly 7000 categories of rare disease are administered worldwide. This signifies the necessity for precision treatment through the development of suitable drugs and diagnosis techniques aided by effective NGS technology. Consequently, the global next generation sequencing market is likely to acquire demand-pull inflation in the future years, also emerging as the backbone for novel advances in drug research for rare diseases.

Leading Market Players And Their Major Contributions:

Global next generation sequencing market growth is facilitated by innovative products and solution development processed by various competitive market companies. With colossal investment in R&D activities to expedite the discovery of drugs, diagnosis, and effective solution, these companies generate huge demand for the next generation sequencing to be incorporated in several fields of study. The leading companies aiding the advances of NGS technology solutions include Illumina, Inc., Thermo Fisher Scientific, Inc., Pacific Biosciences of California, Inc., BGI, PerkinElmer, Agilent Technologies, QIAGEN N. V., Macrogen Inc., Oxford Nanopore Technologies, Ltd., and Eurofins Scientific.

Illumina, Inc. is a global leader driving innovation to promote genetic analysis and opening up newer scopes to expedite gene-based drug development, diagnostic evolution, and many more. It is credited for manufacturing NGS technology which is valuable in biomarker studies, several oncology researches, microbial diversity, and many others. Illumina’s partnership with the University of Melbourne is one of its most recent remarkable contributions to the global NGS market. This joint approach towards genomic-based biomedical research in Australia is likely to open new opportunities and drive genetic medication for several diseases in the forthcoming years.

Talk to one of our sales representative about the full report by providing your details in the link below:

https://www.industryarc.com/support.php?id=504217

Any other custom requirements can be discussed with our team, drop an e-mail to [email protected] to discuss more about our consulting services.

To request for a proposal, provide your details in the below link:

https://www.industryarc.com/reports/request-quote?id=504217

Media Contact:

Mr. Venkat Reddy

Sales Manager          

Email: [email protected]

Contact Sales: +1-614-588-8538 (Ext-101)

About IndustryARC: IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food and Beverages, Information Technology, and Life sciences and Healthcare.