Factors such as technological advancements in NGS platforms, increasing applications of NGS, growing partnerships and collaborations, and increasing adoption of NGS among research laboratories and academic institutes are driving the growth of the next-generation sequencing market. On the other hand, accuracy and standardization concerns in diagnostic testing and the lack of skilled technical personnel are some of the key factors limiting the growth of the next-generation sequencing market. In addition, storage of sequencing data and interpretation of complex data from NGS platforms are major concerns faced by the sequencing industry.
This report broadly segments the global next-generation sequencing market into products & services, technology, application, and end user. On the basis of product and service, the next-generation sequencing market is categorized into pre-sequencing products and services, NGS platforms, consumables, services for platforms, sequencing services, and bioinformatics. In 2017, the consumables segment is expected to account for the largest share of the next-generation sequencing market.
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On the basis of technology, the global next-generation sequencing market is segmented into sequencing by synthesis (SBS), ion semiconductor sequencing, single-molecule real-time (SMRT) sequencing, and nanopore sequencing. In 2017, the SBS technology is expected to account for the largest share of the market, majorly due to the development of new and advanced NGS platforms, the increasing demand for Illumina’s systems (including the HiSeq series and MiSeq), and the growing demand for NextSeq and HiSeq X Ten.
Based on applications, the next-generation sequencing market is categorized into six segments, namely, diagnostics, drug discovery, biomarker discovery, precision medicine, agriculture & animal research, and other application. The diagnostics application segment is expected to account for the major share of the global next-generation sequencing market owing to the increasing focus of key market players on providing & developing NGS-based diagnostic tests and the growing adoption of NGS-based diagnostic tests related to oncology and infectious diseases.
On the basis of end user, the next-generation sequencing market is segmented into research centers and academic & government institutes, hospitals & clinics, pharmaceutical & biotechnology companies, and other end users. Among these end users, the hospitals and clinics segment is expected to register the highest CAGR due to the growing number of agreements between companies and hospitals for the development of advanced tests and products catering to the specific needs of hospitals and clinics. For instance, in November 2016, Illumina, Inc. entered into an agreement with Mayo Clinic (U.S.) to install its BaseSpace Clarity LIMS in Mayo’s specific laboratories.
This report covers the next-generation sequencing market across four major geographies, namely, North America, Europe, Asia-Pacific, and the Rest of the World (RoW). Of the four geographic regions studied in the report, North America is expected to command the largest share of the market in 2017. However, Asia-Pacific is expected to register the highest growth rate during the forecast period, due to the improving healthcare infrastructure and favorable government initiatives in this region.
As of 2016, Illumina, Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), and Pacific Biosciences of California, Inc. (U.S.), hold the leading position in the global next-generation sequencing market. In the past three years, these companies adopted product launches & product enhancements, agreements, collaborations, and partnerships as their key business strategies to ensure market dominance.
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