With food security gaining momentum on the global scale, the governments of various countries are promoting the use of technologies like genomics and sequencing in the field of agriculture. The increasing demand for environment-friendly innovative production methods, modernization in the agriculture sector, and high yield of crops have presented new opportunities for further development in the agrigenomics technology. According to the market Intelligence report by BIS Research titled, ‘Global NGS in Agrigenomics Market- Analysis & Forecast (2017-2021)’, the market is expected to reach the value of $ 1.4 billion by the end of 2021, registering a CAGR of 12.5% during the forecast period of 2017-2021. This significant growth is attributed to the increasing demand of genome sequencing products, government investments in NGS technologies, and rising penetration of this technology in crops and livestock. Moreover, advancements in the genomic technology with a variety of post-sequencing analysis techniques and governmental support in the developed countries is further escalating the market for NGS technology.
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.