Next Generation Sequencing Kits Market to be Dominated by Oncology Segment through 2028
The growing application in
clinical diagnosis is expected to drive the growth of Global Next Generation
Sequencing Kits Market during the forecast period, 2024-2028.
According to TechSci Research report, “Next
Generation Sequencing Kits Market - Global Industry Size, Share, Trends, Opportunity, and
Forecast, 2018-2028”,
global Next Generation Sequencing (NGS)
Kits market is anticipated to grow at an impressive rate during the forecast
period, 2024-2028. This can be ascribed to the growing prevalence of infectious
diseases and genetic disorders cases across the globe. Additionally, the
growing exponential rise in next-generation sequencing demand for reducing the
cost of genome sequencing is also expected to boost the growth of the market
during the forecast period. Also, the growing research funding in the genome
sciences is expected to further enhance the demand for the NGS kits market during
the forecast period. Besides, the growing application of NGS kits in precision
medicine and molecular diagnostics is a major factor that is expected to drive the
growth of the market over the forecast period. Similarly, the growth in
business and corporate strategy is expected to create significant growth during
the forecast period. Moreover, increasing funding and favorable policies
offered by the government of different countries is expected to further boost
the growth of the market during the forecast period. Similarly, growing
applications in clinical diagnosis for early detection of diseases is expected
to further boost the growth of the market during the forecast period.
However, a
lack of skilled professionals for managing the NGS technology may slow down the
growth of the global Next Generation Sequencing Kits market in the forecast
period. Moreover, legal and ethical interpretation of complex data along with
the high cost of reagents can further restrict the growth of the global Next
Generation Sequencing Kits market. Similarly, the lack of infrastructure in
emerging countries can further restrict the growth of the Next Generation
Sequencing Kits market during the forecast period.
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TOC on "Next Generation Sequencing Kits Market"
Next Generation Sequencing Kits market can be segmented on the basis of workflow,
sequencing type, usage area, application, end user, and region.
On the basis of application, the global Next
Generation Sequencing Kits market can be segmented into Oncology, Rare
Diseases, Genetic Disorders, Reproductive Health, and Others. The oncology segment dominated the market in
2022 and is expected to continue maintaining its dominance throughout the
forecast period. This can be ascribed to the growing number of companies
manufacturing NGS kits for cancer. Moreover, the growing demand for
non-invasive pregnancy kits is also expected to boost the growth of the market
during the forecast period.
Based on end users, the market can be segmented
into academic and
research institutions, pharmaceutical and biotechnology companies, clinical and
diagnostic laboratories, and others.
The Academic and Research institutions segment is expected to dominate during
the forecast period on account of the growing number of partnerships between
NGS market players and academic research institutes for the development of the
diagnosis of chronic diseases such as cancers, Alzheimer’s diseases, and
cardiovascular diseases across the globe.
Major companies operating in the Global Next
Generation Sequencing Kits market are:
- Agilent Technologies, Inc.
- Bio-Rad Laboratories, Inc.
- BGI Group
- Creative Biogene.
- Danaher
- F. Hoffmann-La Roche Ltd
- Hologic, Inc.
- Illumina, Inc.
- Oxford Nanopore Technologies
plc.
- Pacific Biosciences of
California, Inc.
- PerkinElmer Inc.
For instance, in January 2020, the Centers for Medicare & Medicaid Services
(CMS) implemented the action for including the USFDA approved or cleared
laboratory diagnostic tests using next-generation sequencing (NGS) for patients
with germline (inherited) ovarian or breast cancer.
In September 2020, The Oncomine Dx Target Test, an
NGS-based companion diagnostic (CDx) test to identify RET fusion-positive,
metastatic non-small cell lung cancer (NSCLC) patients receiving GAVRETO
(pralsetinib), a targeted therapy developed by Blueprint Medicines, received
premarket approval from the US FDA.
In January 2019, PierianDx established cooperation
with Illumina to develop informatics services, such as oncology products, to
help Illumina with a cancer diagnosis and research.
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“North America is expected to dominate the Global Next Generation Sequencing
Kits market owing to the growing number of major market players along with
growing adoption of NGS in research, diagnostic labs, and synthetic biology
research across the region. Similarly, the growing prevalence of infectious
diseases, genetic disorders, and chronic diseases such as cancer and the
development of novel library preparation kits for early detection of diseases is
expected to create significant growth during the forecast period. Moreover,
growing applications in drug discovery and replacing old technology such as
microarrays will further drive market growth over the years. Furthermore, a growing
number of clinical trials for developing novel vaccines with whole genome
sequencing is required which will further drive the growth of the market. Besides,
the growing adoption of advanced NGS technology by government and
non-government bodies are further expected to create lucrative opportunities
for market growth,” said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based global management consulting firm.
“Next Generation
Sequencing Kits Market
- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Workflow (Library Preparation, Cluster
Generation, Sequencing Reagents Kits), By Sequencing Type (WES and WGS, Targeted
Sequencing, Long Read Sequencing, Other Sequencing), By Usage Area (Clinical,
Research), By Application (Oncology, Rare Diseases, Genetic Disorders,
Reproductive Health, Others), By End User (Academic and
Research Institutions, Pharmaceutical and Biotechnology Companies, Clinical and
Diagnostic Laboratories, Others) and By Region”, has evaluated
the future growth potential of global Next Generation Sequencing Kits market
and provides statistics & information on market size, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision-makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in the Global Next Generation Sequencing Kits market.
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