Over the last decade, advancements in sequencing chemistry, molecular biology, and biotechnology have transformed the sequencing field, by increasing its efficiency and decreasing the cost. The sequencing technology, called Sanger sequencing, used for the sequencing of first human genome took around 15 years to develop and cost approximately $2.7 billion. Since then, there has been an impressive progress in the fields of molecular biology and biotechnology, which have paved the way for Next Generation Sequencing (NGS), which is massively parallel and provides high throughput sequencing. NGS technology allows sequencing of millions of fragments at a time as opposed to Sanger sequencing, which in turn saves time and cost every session. At present, the cost of sequencing is $1000, which was brought down from $10 million earlier, and with the ongoing progress in sequencing technology, researchers are targeting to bring down the cost to $100 in the coming future.

The advancements in NGS technologies have accelerated the biological and biomedical research. The NGS industry has become a multi-billion market with multitudinous companies involved in the manufacturing of various instruments, kits and consumables, and development of software to aid the NGS pipeline. The NGS technologies are being implemented in pharmaceuticals, diagnostics, forensics, agriculture and animal research. In addition to these increasing applications, the rise in the demand for precision medicine, liquid biopsy tests and non-invasive prenatal testing (NIPT) have helped in the healthy growth of the global NGS market.

The global next generation sequencing (NGS) market was valued at $4.14 billion in 2016 and is estimated to grow over $11.92 billion by 2024. There has been a significant increase in the demand for genome mapping programs and diagnostic tests based on sequencing technologies. Hence, the NGS market exhibits a lucrative field for investment from key market players. Among the various NGS technologies present in the market, the reversible terminator sequencing technology currently dominates the global NGS market. The emerging technologies such as Nanopore technology is estimated to witness the highest CAGR in the forecast period.

Among various products of NGS technologies available in the market, viz. instruments, kits and consumables, and software, kits and consumables segment dominated the product segment of global NGS market in 2016.  However, it is the software sub-segment which is expected to witness the highest CAGR in the forecast period from 2017 to 2024. Based on application, presently, the pharmaceuticals field makes up the largest share of the global next generation sequencing market and is expected to grow at a CAGR of 11.29% from 2017 to 2024.  However, with the growing demand for non-invasive diagnostic procedures, the diagnostic field is expected to witness an impressive CAGR in the forecast period.

BIS Healthcare has conducted an extensive research on the global next generation sequencing market, and compiled the observations and insights in a report titled ‘Global Next Generation Sequencing (NGS) Market - Analysis and Forecast (2017-2024)'. The market intelligence report aims at providing an in-depth analysis of the key developmental strategies, marketing strategies, and market trend dynamics which include drivers, restraints, and opportunities prevailing in the industry.

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