According to a report by TechSci Research titled “Next Generation Sequencing Kits Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028″, the global market for Next Generation Sequencing (NGS) Kits is expected to experience impressive growth from 2024 to 2028. This can be attributed to the rising incidence of infectious diseases and genetic disorders worldwide. Moreover, the market is expected to see a surge in demand for next-generation sequencing as it becomes more cost-effective for genome sequencing. The genome sciences are also expected to receive more research funding during this period, further driving demand for NGS kits. Furthermore, the expanding use of NGS kits in precision medicine and molecular diagnostics will be a major growth factor in the market.
The market will also benefit from corporate strategy and business growth during the forecast period. In addition, government funding and favorable policies will provide further impetus for market growth. Clinical diagnosis for early disease detection will also be a growth driver during the forecast period. However, a lack of skilled professionals to manage NGS technology may hinder market growth. Legal and ethical interpretation of complex data, as well as high reagent costs, may also limit the market’s growth. Additionally, the lack of infrastructure in emerging countries may further restrict the growth of the NGS kits market during the forecast period.
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Next Generation Sequencing Kits market can be segmented on the basis of workflow, sequencing type, usage area, application, end user, and region.
The global Next Generation Sequencing (NGS) Kits market can be categorized into Oncology, Rare Diseases, Genetic Disorders, Reproductive Health, and Others based on its applications. In 2022, the oncology segment held the largest market share and is expected to maintain its dominance throughout the forecast period. This is attributed to the rising number of NGS kit manufacturers for cancer. Additionally, the market is expected to witness growth due to the increasing demand for non-invasive pregnancy kits. Segmented by end-users, the market comprises academic and research institutions, pharmaceutical and biotechnology companies, clinical and diagnostic laboratories, and others. During the forecast period, the Academic and Research institutions segment is expected to hold the largest market share. This is due to the growing number of partnerships between NGS market players and academic research institutes for the diagnosis of chronic diseases like Alzheimer’s, cancers, and cardiovascular diseases worldwide..
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.
Developments:
In January 2020, the Centers for Medicare & Medicaid Services (CMS) took action to include laboratory diagnostic tests approved or cleared by the USFDA using next-generation sequencing (NGS) for patients with inherited ovarian or breast cancer.
In September 2020, the US FDA granted premarket approval for The Oncomine Dx Target Test, an NGS-based companion diagnostic (CDx) test developed by Blueprint Medicines to identify RET fusion-positive metastatic non-small cell lung cancer (NSCLC) patients who are receiving GAVRETO (pralsetinib), a targeted therapy.
PierianDx collaborated with Illumina in January 2019 to develop informatics services, including oncology products, for Illumina’s 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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