HOME Research Insight NGS Services Market will be the New Revenue Generating Pocket Driven by Increasing Demand for Diagnostics

NGS Services Market will be the New Revenue Generating Pocket Driven by Increasing Demand for Diagnostics

The NGS market is witnessing significant growth across the globe due to factors such as decreasing costs, improved turnaround time, increase in number of applications, and replacement of microarray applications by NGS. The key players are focusing on providing innovative products which are technologically advanced. Owing to this, companies focus on partnerships, collaborations, new product launches, and acquisitions in order to attain a leadership position in the market.

Sequencing by Synthesis technology occupies the highest share of the NGS market and will also be the fastest growing technology in the coming years. The growth will be driven by platforms such as HiSeq X Ten, NextSeq 500 and MiSeq. Also SBS technology has wide applications in the NGS market and can be used for both single read and pair end libraries. However nanopore technology will change the face of the market once it is introduced in the market. Companies such as Roche (Genia Technologies) and Oxford Nanopore Technologies are working on this technology of NGS. Nanopore is expected to be launched by late 2016 or 2017. Once introduced in the market, the cost of sequencing is expected to come down to close to $500.

Another major revenue generating market will be NGS services market which is estimated to grow at a CAGR of 24.0% by 2020. This can be attributed to the growing demand in diagnostics and pharma/biotech sectors. In diagnostics the growth will be driven by increasing cases of oncology and neonatal diseases. Moreover, the possible reimbursement for diagnosis through NGS will also boost the market 2015 onwards. Pharma/Biotech companies also look forward to outsource their NGS related services to focus on core competencies. Yet, research centers and academic institutes contribute the highest to the services market.

Targeted resequencing, RNA-Seq and Exome Sequencing are the top three applications of NGS primarily due to their low cost and time-saving ability. These segmenets will also be the top three fast growing segments in the coming years.

Related Reports:

Next Generation Sequencing (NGS) Market by Platforms (Illumina HiSeq, MiSeq, HiSeqX Ten, NextSeq 500,Thermo Fisher Ion Proton/PGM), Bioinformatics (Exome Sequencing, RNA-Seq, ChIP-Seq), Technology (SBS, SMRT) & by Application (Diagnostics, Personalized Medicine) Global Forecast to 2020

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