Global Next Generation Sequencing Market, by Technology (Whole Genome Sequencing, Whole Exome Sequencing, RNA Sequencing, Targeted Re-sequencing, and Others), by Application (Drug Discovery, Personalized Medicine and Genetic Screening, Disease Diagnosis, Agriculture and Animal Research, and Others), by End User (Hospital, Research Centers, Pharma and Biotech Firms, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 12,870.5 Million in 2022 and is expected to exhibit a CAGR of 18.3% during the forecast period (2022-2030), as highlighted in a new report published by Coherent Market Insights.
Increased launches of solutions that can be used with next generation sequencing procedures to detect diseases is expected to drive the market growth over the forecast period. For instance, in June 7, 2022, Twist Bioscience Corporation, a company enabling customers to succeed through its offering of high-quality synthetic DNA using its silicon platform, announced the launch of the Twist MRD Rapid 500 Panel1, a custom solution that can be added to a standard next generation sequencing (NGS) workflow, offering fully customizable and highly cost effective panels to detect minimal residual disease (MRD) such as cancer in as few as five days
Global Next Generation Sequencing– Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic and lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors, including the private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry, mainly due to strict lockdown in several regions. Private healthcare is one such sector that has been impacted significantly by the COVID-19 pandemic.
However, the COVID-19 pandemic had a positive impact on the next generation sequencing market, owing to the increasing efforts by the government of the countries to sequence the genomes of the COVID-19 infection using next generation sequencing technique. For instance, in March 2020, the UK government had launched a new alliance to sequence the genomes of SARS-CoV-2, the virus responsible for the current COVID-19 pandemic. Backed by a £20 million (US$ 24.15 million) investment, the COVID-19 Genomics UK Consortium (COG-UK) is comprised of the NHS, Public Health Agencies, the Wellcome Sanger Institute and several academic institutions. Whole genome sequencing (WGS) provides the highest possible resolution information about an organism’s genome, and has the potential to transform infectious disease management.
Global Next Generation Sequencing: Key Developments
In January 2022, Pathogenomix Inc., a next generation sequencing, pathogen diagnostic company, announced that the US Food and Drug Administration (FDA) had granted it a breakthrough device designation for its patho-Seq assay. Patho-Seq is designed for the rapid detection and identification of hundreds of clinically relevant bacteria for a broad list of clinical conditions and sample types, including sepsis from whole blood samples and bacterial meningitis from CSF
Browse 27 Market Data Tables and 31 Figures spread through 156 Pages and in-depth TOC on “Global Next Generation Sequencing”- Forecast to 2030, Global Next Generation Sequencing, by Technology (Whole Genome Sequencing, Whole Exome Sequencing, RNA Sequencing, Targeted Re-sequencing, and Others), by Application (Drug Discovery, Personalized Medicine and Genetic Screening, Disease Diagnosis, Agriculture and Animal Research, and Others), by End User (Hospital, Research Centers, Pharma and Biotech Firms, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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Moreover, increasing prevalence of infectious diseases is expected to drive the market growth over the forecast period. For instance, according to the World Health Organization facts sheet published on April 2022, there were 241 million cases of malaria in 2020 compared to 227 million cases in 2019 worldwide
Key Takeaways of the Global Next Generation Sequencing: