Next-generation Sequencing Market, Share and Forecast upto 2024
Posted by Pareesh on August 17th, 2017
Next-generation sequencing or high throughput sequencing are advanced DNA sequencing technologies, including Illumina (Solexa) sequencing, Roche 454 sequencing, and Ion torrent: Proton/ PGM sequencing, SOLiD sequencing. Next-generation sequencing technologies have a number of advantages such as high speed, flexibility, high throughput, and reduced sequencing cost. Next-generation sequencing has ability to produce terabytes of nucleotide sequence data in a lone sequencing procedure. The NGS technology is developing at a rapid rate, owing to its rising adoption in scientific applications as it enables scanning of targeted genomes or whole genomes in lesser time. Moreover, decrease in cost of sequencing has also extended the procedure of next generation sequencing in various clinical applications. The technique has a variety of usages in diverse clinical applications such as inherited genetic disorders, cancer, identification of infectious diseases and HLA typing. For example, next-generation sequencing has been in use for tracing tuberculosis outbreaks and hospital acquired infections. These factors are projected to propel growth of the next-generation sequencing market over the forecast period (2016-2024).
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According to an article published in the magazine Scientific American, whole genome testing might not give accurate results all the time. A low risk disease might take a shape and affect the person in his lifetime. However, gene sequencing is helpful in predicting diseases and in most cases, preventing them. In the era of increased health awareness and advanced technologies, people around the world are embracing the early detection techniques so that they can take care of the diseases such as cancer from an early stage. Next generation sequencing is primarily used to predict the diseases which are hereditary in nature.
Next-generation Sequencing Market Taxonomy
On the basis of technology, the global is classified into:
On the basis of application, the global is classified into:
On the basis of end user, the global is classified into:
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According to global genes, there are 7,000 types of rare diseases in the world and 80% of these diseases are genetic in order. Moreover, as of 2013, 30 million people in the U.S. have rare diseases that accounts for around 10% of the total population of the country. It is estimated that 24 million people in the U.S. suffer from genetic or hereditary diseases. Since next-generation sequencing can be linked to a variety of diseases, its role in treatment is of utmost importance which will fuel the market growth of the market in the region. Moreover, technological advancements as well as development of efficient diagnostic tests will ensure early detection of these diseases, thereby augmenting growth of next-generation sequencing market.
Growing prevalence of hereditary diseases and government initiatives will drive the overall next-generation sequencing market
According to a report by Global Genes, in 2009, Europe accounted for around 30 million people of the 350 million people worldwide who suffered from some rare disease. Moreover, children accounted for around half the population affected by rare diseases. According to Net Wellness, more than 20% of the infant deaths are caused due to genetic disorder. These statistics are truly mind boggling and this would increase the demand for gene sequencing techniques thereby augmenting the overall growth of the next-generation sequencing market.
During the estimated period, Asia-Pacific market is likely to grow at the maximum rate owing technological innovation, rising drug discovery programs by healthcare companies, and growing adoption of pioneering treatment models are some of the prime factors that will drive the growth of market in the region. Moreover governments in these region are increasing their overall healthcare spends in their budgets owing to high prevalence of these diseases. This would result in increased initiatives by the healthcare companies and research organizations, in turn fueling growth of the next-generation sequencing market.
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Some of the companies operating in the next-generation sequencing market in the current scenario are Life Sciences Corporation (Roche Holding Ag), Agilent Technologies, Life Technologies Corporation, Perkin Elmer, Genomatix Software Gmbh, Illumina, Inc., Genomatix Software Gmbh, Macrogen, Inc., Oxford Nanopore Technologies, Ltd., Gatc Biotech Ag, Dnastar, Inc., IncPartek Incorporated, Knome, Inc., and Qiagen N.V.
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About the AuthorPareesh
Joined: May 31st, 2017
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