Global Next-Generation Sequencing Market Analysis, Share and Future Scope

The surging incorporation of next generation sequencing (NGS) technology in biopharmaceutical and pharmaceutical organizations, especially in developed nations, is one of the biggest factors fuelling the demand for this technology across the globe. This is mainly attributed to the increasing incidence of chronic diseases such as autoimmune diseases, cancer, and diabetes and the resultant surge in the requirement of innovative treatment procedures. Additionally, the growing utilization of NGS instruments by pharmaceutical and biopharmaceutical companies for designing therapies for various chronic diseases and genetic disorders is further boosting the demand for this technology all over the world.

The increasing research and development (R&D) activities in several regions including North America and Europe and rapid technological developments in next-generation sequencing technology, especially in the developed nations are the other factors fuelling the adoption of this technology around the world. Furthermore, the lower costs of the NGS-based processes as compared to the conventional sequencing methods are contributing significantly toward their growing popularity in several countries. Due to these factors, the global next-generation sequencing market is predicted to exhibit rapid progress in the upcoming years.

Geographically, “the North American next-generation sequencing market will demonstrate the highest growth in future”, primarily on account of the rapid technological advancements, increasing healthcare spending, growing utilization of NGS systems, and existence of numerous academic and research institutes in the region. However, in spite of these reasons, "the market growth will be faster in Asia-Pacific (APAC) than in North America in the years ahead”, because of the increasing genomics and proteomics-related R&D activities in the region.

Hence, it can be safely said that the demand for NGS technology will rise tremendously all over the world in the years to come, predominantly because of the increasing adoption of this technology in the biopharmaceutical and pharmaceutical companies, healthcare applications, and the surging R&D activities in the field of genetics.

Report this Page