Next Generation Sequencing Market by Platforms, Technology, Services, Applications & Bioinformatics Worth $8.7 Billion …

(PRWEB) February 13, 2015

The next generation sequencing 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 micro-array applications by next generation sequencing (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.

The global next generation sequencing (NGS) market will be worth $2.5 billion by the end of 2014 and is poised to reach $8.7 billion by 2020 at a CAGR of more than 20.0%.

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The next generation sequencing report covers the market for pre-sequencing, sequencing platforms and bioinformatics tools and services. The NGS pre-sequencing (sample preparation) segment represents a promising area in the overall market owing to the need for automation and standardized solutions for sample preparation. The market for sequencing platforms has been very dynamic. Some revolutionary platforms like GA IIx (Illumina) and SOLiD Series (Life Technologies) have taken a setback and newer platforms like HiSeq X Ten, NextSeq 500 and MiSeq are gaining market dominance. The next generation sequencing bioinformatics market comprises of software, workbenches and services for the interpretation and analysis of data generated by sequencers, representing a lucrative market owing to better user interface and flexibility when compared to open-source tools.

The report also covers the market by applications, including drug discovery, clinical diagnostics, genomics, and proteomics. Along with large research and academic institutions that serve as a key end-user for the next generation sequencing market. NGS technologies are recently being developed for use in clinical set-ups and presently much of the NGS effort is focused on cancer.

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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.

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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 segemnets will also be the top three fast growing segments in the coming years.

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Next Generation Sequencing Market by Platforms, Technology, Services, Applications & Bioinformatics Worth $8.7 Billion ...