Next Generation Sequencing Market: Dawn of a New Era

The global next generation sequencing (NGS) market has been valued at USD 5,100.6 million in 2021 and is projected to grow at a CAGR of 21.4% during the forecast period as per an accurate compilation of market analysis by Quince Market Insights. The dawn of molecular biotechnology in cancer research has arrived with Next Generation Sequencing (NGS) with rising stakes in genome sequencing. NGS in co-ordination with bioinformatics tools is revolutionary in its diagnosis of cancer thus giving a fillip to oncology research, diagnosis, and treatment. Leading companies are broadening their horizons by entering mergers with peer companies to manufacture IVD (In vitro diagnostics) solutions for cancer diagnostics. 

The NGS market is slated to witness huge traction in genome sequencing in the next five years. Further, NGS has the potential to understand the spread of COVID-19 and is capable enough to help formulate treatments in the future. NGS has the potential to trace the transmission links of the virus so that this spread can be halted. Thus, the importance of NGS in COVID-19 halt cannot be undermined.

Pros And Cons

The major factors boosting growth of NGS includes swift adoption of this technology by researchers and its profound usability as an alternative of microarray technology in addition to its higher output, increased precision and affordable costs that are driving the next generation sequencing market growth.

However, the analysis of large amount of data generated by sequencers, and data storage and management is posing a challenge for the market. 

Opportunities

The growth opportunities of this market are in NGS fully integrated instruments, rising demand for pre-sequencing, and rising nanopore sequencing technology. There is a vast opportunity for this technology in the field of drug discovery technologies, personalized medicine, agricultural, and animal research. The targeted re-sequencing has the highest demand in the market.

Organizations Working In NGS

Covid-19 Genomics U.K. Consortium (COG-U.K.) was established in March 2020 to analyze the coronavirus genome using Whole-Genome Sequencing (WGS). The high-profile syndicate include Wellcome Sanger Institute, the NHS, Public Health Agencies, and other academic institutions. These groups have collaborated to track the evolution and help in curtailing the spread of the virus.

Fight Against Covid-19

Industreis, such as ThermoFisher and Illumina, have also buckled up to fight this pandemic with the help of NGS. Illumina has already garnered support and technology to conduct on-site surveillance and track transmission. The company also has plans to develop vaccines and therapies promising long-term global security and safety.

Market Study

The global market is highly competitive. Major industry participants are merging with other peers to increase the reach of their platforms for research as well as diagnostics use. For instance, in January 2021, Illumina declared multiple oncology mergers with Merck, Myriad Genetics, Kura Oncology, and Bristol Myers Squibb to expand the reach of its TruSight Oncology pan-cancer sample.

Leading industries, such as Illumina, are constantly operating toward a unified goal of development of NGS-based In Vitro Diagnostic (IVD) solutions for cancer diagnostics. For instance, in January 2021, Illumina merged with Myriad Genetics to design a kit-based option of the latter’s companion diagnostic test. This combines NGS technology with companion diagnostics to improve the genomic identities of tumor samples.

Several other market players also provide NGS solutions to bolster cancer research. For example, in January 2021, Merus N.V. (Netherlands); a wellness-stage immuno-oncology company; merged with National Cancer Center, Japan, and Erasmus University Medical Center, the Netherlands to determine uniqueness of its HER2/3-targeting bispecific antibody regimen in solid tumors. Under this umbrella, Merus has plans to bolster access to NGS testing for non-small cell lung, and pancreatic cancer.

The North American region was attributed with the largest share of the next generation sequencing market. The European and Asian markets are also anticipated to chart high growth due to the favorable funding from the government to adopt this technology

Conclusion

Next-generation sequencing (NGS) is offering a kaleidoscope into the future with every theory, experiment, and innovation. 

To know more about the topic please visit our website Quince Market Insights – 

https://www.quincemarketinsights.com/industry-analysis/next-generation-sequencing-ngs-market 

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