Recent Trends In Next-generation Sequencing Market

Next Generation Sequencing (NGS) is a multi-million dollar industry with large conglomerates pursuing the manufacturing of instruments, kits & consumables, and software development which fosters the upcoming NGS workflow. Innovations in sequencing, molecular biology, as well as in technical engineering over the past few years have dramatically amplified the efficiency of sequencing while simultaneously decreasing the cost. Research and development in the field of biochemistry and genetics have paved the way for the development of comprehensive and well-planned sequencing technology which is today known as Next Generation Sequencing.

Recent Trends In The NGS Market

  • Factors such as, an increase in the applications of genetic sequencing along with the impressive speed and low cost involved are making NGS a popular choice for large biomedical institutions and corporates. Its high level of accuracy & efficiency in comparison to traditional technologies is helping the further expansion of the NGS market across the globe.
  • A growing number of companies are using applications of NGS for drug discovery which demands genetic sequencing technology. This is also an important factor contributing to the overall growth of the Next-Generation Sequencing market.
  • With the help of innovative and contemporary DNA sequencing technology, sequencing of complete DNA sequences of various types and different species has been possible. Experts predict that NGS is cheaper, requires considerably less amount of DNA, and is a faster process. This is also fostering the growth of the market.
  • The Next Generation Sequencing market is expected to accelerate the early identification of many auto-immune disorders. This is expected to help companies identify pharmacogenetics markers to accordingly personalize their treatments.
  • The parallel growing number of innovations made in the field of medicine and biomedical sciences are contributing to the growth of potential business areas of the NGS market. Personalized medicine is taking center stage which is fostering and encouraging the market possibilities of genetic sequencing in developed as well as developing regions. Research shows that a large number of applicants for personalized medicine are benefitting from genetic sequencing technology.
  • NGS is widely used in discovering monogenic ailments and locus heterogeneity, such as movement disorders, blindness, deafness, hereditary cancers, and mitochondrial disease. Hence, NGS is recognized to have a wide variety of B2B applications by employing techniques of genetic screening. There is a high demand for NGS powered organizations as the affordability and availability of customized medicine in high-income and low-income groups is high.

Challenges Faced By The Next-Generation Sequencing Market

The NGS market is also facing challenges in terms of management and proper usage of large chunks of data. The large set of data collected and generated through NGS is getting difficult to study and analyze. The lack of skilled professionals in Big Data is keeping players in the NGS market from recognizing their full potential. In addition to this, there are various socio-political and ethical issues related to genome sequencing. Lack of awareness is slowing down the market.

Advancements are being made in spheres of sequencing chemistry, technical engineering, as well as in molecular biology. This has managed to lower the laboratory costs of performing NGS and has simultaneously increased the rate at which results are generated. The market can be segmented into sectors of technology, application, product, and geographical regions. Applications for NGS can be found in hospitals and health care, academics, biotechnology, and pharmaceutical companies. A growing concern for health, personalized medicine, and customized medical therapy is paving way for the development and sophistication of the Next Generation Sequencing Market.