The Asia Pacific next generation sequencing market accounted to US$ 1,203.6 Mn in 2017 and is expected to grow at a CAGR of 21.8% during the forecast period 2018 – 2025, to account to US$ 5,835.6 Mn by 2025.
The Asia Pacific next generation sequencing market is expected to grow at the highest rate during the forecast period owing to the growing adoption of sequencing and various genome sequencing initiatives and programs in Asia Pacific region.
Market Insights
Price Reduction in Sequencing Technology
n recent years, the next generation sequencing price has declined substantially. For instance, the first whole human genome sequencing cost over US$3.7 billion in 2000 and took 13 years for the completion. However, the costs for the same in recent years has reduced to US$1,000, and the process requires less number of days. Major market players such as Illumina and Roche have introduced breakthrough technologies that have enabled in the cost and time reduction in the sequencing.This huge leap in sequencing capability as well as the potential future applications of sequencing technology is likely to be a major advancement in the field of science and biotechnology that is expected to witness an impact among various levels in society. Due to its lowering cost, the technology is likely to be accepted across the region, especially in China, India, and Japan. A report published by Life Technologies in March 2012 states that the cost of sequencing in India is likely to reduce over the years drastically. Owing to the factors such as advances in the field of genomics, development in different methods and strategies for sequencing the market is growing.
Technological Development in Sequencing
Advancement in the field of molecular biology has equally enhanced the sequencing procedures. Many industry players have come up with innovative NGS technology in last few years. Further modification and automation of this process continued to increase sequencing data and time reduction. Thereby allowing researchers to reach major milestones in the Human Genome Project. NGS makes sequence based gene expression analysis a “digital” alternative to analog techniques. It also aids in quantifying RNA expression with the breadth of a microarray and the resolution of qPCR.
For instance, in January 2018, Illumina, Inc. launched their BaseSpace Sequence Hub in China. The cloud-based hub has facilities for storage management, and interpretation of genomics data. Similar initiatives and developments in the region are likely to accelerate the market growth of next generation sequencing over the coming years.
Product Insights
In 2017, the consumables segment held a largest market share of 64.0% of the next generation sequencing market, by product. This segment is also expected to dominate the market in 2025 in the region. Moreover, the same segment is also anticipated to witness the significant growth rate during the forecast period, 2018 to 2025.
Technology Insights
In 2017, the resequencing segment held the largest market share of 66.0% of the next generation sequencing market, by technology. This segment is also expected to dominate the market in 2025 owing to the rising funding by various government bodies and usage of NGS in the resequencing and targeted sequencing. Moreover, the genome segment is anticipated to witness the fastest growth rate during the forecast period, 2018 to 2025.
Application Insights
In 2017, the diagnostic segment held the largest market share of 66.0% of the next generation sequencing market, by application. This segment is also expected to dominate the market in 2025 owing to the growth of the technological advancements such as sequencing machines in the developed and developing regions. Moreover, the same segment is also anticipated to witness the fastest growth rate during the forecast period, 2018 to 2025.
End User Insights
Academic and research institutes segment is anticipated to grow at a CAGR of 22.4% during the forecast period. The increase in the number and size of testing laboratories operating in the region, increased the testing laboratories segment. Therefore, the segment held the largest market share of 45.2% for the end user segment in the next generation sequencing market and is likely to dominate the market in coming forecast period.
Strategic Insights
Partnerships and product launches were observed as the most adopted strategy in Asia Pacific next generation sequencing industry. Few of the recent product launch and partnerships are listed below:
2018: Illumina, Inc. partnered with the Chinese Medical Genetics Association (CMGA) of Chinese Medical Doctor Association. The partnership helped in launching whole genome sequencing for Chinese children being born with defects and rare undiagnosed disease.
2017: In October, MGI Tech, a subsidiary of BGI Genomics, launched two NGS platforms, MGISEQ-2000 and MGISEQ-200. The new products are upgrades to BGISEQ 50 and BGISEQ 500, respectively, with technological developments. The new systems have been developed to deliver consistently high-quality sequencing data at a comparatively low price.
2017: PerkinElmer, Inc. launched its’ clinical genomics services. The company offers a global genomic lab testing platform with the help of its integrated laboratories situated in China, the US, and India. The laboratories perform screening and diagnostic testing, focusing on next generation sequencing for rare inherited diseases.
NEXT GENERATION SEQUENCING – MARKET SEGMENTATION
By Product
By Technology
By Application
By End User
By Geography
Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2017 | US$ 1,203.6 Million |
| Market Size by 2025 | US$US$ 5,835.6 Million |
| CAGR (2017 - 2025) | 21.8% |
| Historical Data | 2015-2016 |
| Forecast period | 2018-2025 |
| Segments Covered |
By Product
|
|
Regions and Countries Covered
|
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| Asia-Pacific | China, India, Japan, Australia, Rest of Asia-Pacific |
| Market leaders and key company profiles |
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The Asia Pacific Next Generation Sequencing Market is valued at US$ 1,203.6 Million in 2017, it is projected to reach US$US$ 5,835.6 Million by 2025.
As per our report Asia Pacific Next Generation Sequencing Market, the market size is valued at US$ 1,203.6 Million in 2017, projecting it to reach US$US$ 5,835.6 Million by 2025. This translates to a CAGR of approximately 21.8% during the forecast period.
The Asia Pacific Next Generation Sequencing Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Next Generation Sequencing Market report:
The Asia Pacific Next Generation Sequencing Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Next Generation Sequencing Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Next Generation Sequencing Market value chain can benefit from the information contained in a comprehensive market report.
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