Published Year: 2023
Next Generation Sequencing (NGS) Market - A Global and Regional Analysis: Focus on Offering, Company
The global NGS market was valued at $6.76 billion in 2022 and is expected to reach $28.47...
Market Research Report
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Table of Contents
1.1 Trends: Current and Future Impact Assessment
1.1.1 Increasing Number of Targeted Sequencing Products and Services in the Market
1.1.2 Increasing Synergistic Partnerships between Market Players
1.2 Targeted Sequencing Workflow
1.3 Research and Development Review
1.3.1 Patent Filing Trend (by Country, Year)
1.4 Regulatory Landscape
1.5 Market Dynamics: Overview
1.5.1 Market Drivers
1.5.1.1 Increasing Demand for High Depth of Coverage in Sequencing
1.5.1.2 Cost and Data Management Benefits of Targeted Sequencing as Compared to WGS
1.5.2 Market Restraints
1.5.2.1 Lack of Advanced Genomic Testing Centers
1.5.2.2 Lack of Knowledge about New Genes
1.5.3 Market Opportunities
1.5.3.1 Increasing Use in Clinical Research and Trials for Better Disease Pathogenesis and/or Clinical Relevance
1.5.3.2 Increasing Adoption in Targeted Therapeutics in Oncology
2.1 Application Segmentation
2.2 Application Summary
2.2.1 Application Summary
2.2.2 End User Summary
2.2.2.1 Analyst View
2.3 Targeted Sequencing Market (by Application)
2.3.1 Cancer
2.3.2 Infectious Diseases
2.3.3 Cardiovascular Diseases
2.3.4 Reproductive Health
2.3.5 Rare Diseases
2.3.6 Neurological Disorders
2.3.7 Hereditary Diseases
2.3.8 Other Applications
2.4 Targeted Sequencing Market (by End User)
2.4.1 Academic and Research Institutions
2.4.2 Pharmaceutical and Biotech Companies
2.4.3 Diagnostic and Clinical Laboratories
2.4.4 Other End Users
3.1 Product Segmentation
3.2 Product Summary
3.2.1 Product Type Summary
3.2.2 Type of Target Capture Summary
3.2.3 Target Enrichment Methods Summary
3.3 Targeted Sequencing Market (by Product Type)
3.3.1 Services
3.3.2 Kits/Panels and Assays
3.3.3 Instruments
3.3.4 Others
3.4 Targeted Sequencing Market (by Target Enrichment Methods)
3.4.1 Amplicon Sequencing
3.4.2 Hybridization Capture
3.4.3 Microfluidic-Based Enrichment
3.4.4 Enzymatic Cleavage
3.5 Targeted Sequencing Market (by Type of Target Capture)
3.5.1 Targeted DNA Sequencing
3.5.2 Targeted RNA Sequencing
3.5.3 Other Types of Target Capture
4.1 Regional Summary
4.2 Drivers and Restraints
4.3 North America
4.3.1 Regional Overview
4.3.1.1 Driving Factors for Market Growth
4.3.1.2 Factors Challenging the Market
4.3.2 Application
4.3.3 Product
4.3.4 U.S.
4.3.5 Application
4.3.6 Product
4.3.7 Canada
4.3.8 Application
4.3.9 Product
4.4 Europe
4.4.1 Regional Overview
4.4.1.1 Driving Factors for Market Growth
4.4.1.2 Factors Challenging the Market
4.4.2 Application
4.4.3 Product
4.4.4 France
4.4.5 Application
4.4.6 Product
4.4.7 Germany
4.4.8 Application
4.4.9 Product
4.4.10 U.K.
4.4.11 Application
4.4.12 Product
4.4.13 Spain
4.4.14 Application
4.4.15 Product
4.4.16 Italy
4.4.17 Application
4.4.18 Product
4.4.19 Rest-of-Europe
4.4.20 Application
4.4.21 Product
4.5 Asia-Pacific
4.5.1 Regional Overview
4.5.1.1 Driving Factors for Market Growth
4.5.1.2 Factors Challenging the Market
4.5.2 Application
4.5.3 Product
4.5.4 China
4.5.5 Application
4.5.6 Product
4.5.7 India
4.5.8 Application
4.5.9 Product
4.5.10 Japan
4.5.11 Application
4.5.12 Product
4.5.13 South Korea
4.5.14 Application
4.5.15 Product
4.5.16 Australia
4.5.17 Application
4.5.18 Product
4.5.19 Rest-of-Asia-Pacific
4.5.20 Application
4.5.21 Product
4.6 Latin America
4.6.1 Regional Overview
4.6.1.1 Driving Factors for Market Growth
4.6.1.2 Factors Challenging the Market
4.6.2 Application
4.6.3 Product
4.6.4 Brazil
4.6.5 Application
4.6.6 Product
4.6.7 Mexico
4.6.8 Application
4.6.9 Product
4.6.10 Rest-of-Latin America
4.6.11 Application
4.6.12 Product
4.7 Middle East and Africa
4.7.1 Regional Overview
4.7.1.1 Driving Factors for Market Growth
4.7.1.2 Factors Challenging the Market
4.7.2 Application
4.7.3 Product
4.7.4 U.A.E.
4.7.5 Application
4.7.6 Product
4.7.7 South Africa
4.7.8 Application
4.7.9 Product
4.7.10 Rest-of-Middle East and Africa
4.7.11 Application
4.7.12 Product
5.1 Next Frontiers
5.2 Competitive Landscape
5.2.1 Agilent Technologies, Inc.
5.2.1.1 Overview
5.2.1.2 Top Products
5.2.1.3 Top Competitors
5.2.1.4 Target Customers
5.2.1.5 Key Personnel
5.2.1.6 Analyst View
5.2.2 Azenta, Inc.
5.2.2.1 Overview
5.2.2.2 Top Products
5.2.2.3 Top Competitors
5.2.2.4 Target Customers
5.2.2.5 Key Personnel
5.2.2.6 Analyst View
5.2.3 BGI Group
5.2.3.1 Overview
5.2.3.2 Top Products
5.2.3.3 Top Competitors
5.2.3.4 Target Customers
5.2.3.5 Key Personnel
5.2.3.6 Analyst View
5.2.4 CD Genomics
5.2.4.1 Overview
5.2.4.2 Top Products
5.2.4.3 Top Competitors
5.2.4.4 Target Customers
5.2.4.5 Key Personnel
5.2.4.6 Analyst View
5.2.5 F. Hoffmann-La Roche Ltd
5.2.5.1 Overview
5.2.5.2 Top Products
5.2.5.3 Top Competitors
5.2.5.4 Target Customers
5.2.5.5 Key Personnel
5.2.5.6 Analyst View
5.2.6 Daicel Corporation
5.2.6.1 Overview
5.2.6.2 Top Products
5.2.6.3 Top Competitors
5.2.6.4 Target Customers
5.2.6.5 Key Personnel
5.2.6.6 Analyst View
5.2.7 Thermo Fisher Scientific Inc.
5.2.7.1 Overview
5.2.7.2 Top Products
5.2.7.3 Top Competitors
5.2.7.4 Target Customers
5.2.7.5 Key Personnel
5.2.7.6 Analyst View
5.2.8 Danaher Corporation
5.2.8.1 Overview
5.2.8.2 Top Products
5.2.8.3 Top Competitors
5.2.8.4 Target Customers
5.2.8.5 Key Personnel
5.2.8.6 Analyst View
5.2.9 Illumina, Inc.
5.2.9.1 Overview
5.2.9.2 Top Products
5.2.9.3 Top Competitors
5.2.9.4 Target Customers
5.2.9.5 Key Personnel
5.2.9.6 Analyst View
5.2.10 LGC Limited
5.2.10.1 Overview
5.2.10.2 Top Products
5.2.10.3 Top Competitors
5.2.10.4 Target Customers
5.2.10.5 Key Personnel
5.2.10.6 Analyst View
5.2.11 PacBio
5.2.11.1 Overview
5.2.11.2 Top Products
5.2.11.3 Top Competitors
5.2.11.4 Target Customers
5.2.11.5 Key Personnel
5.2.11.6 Analyst View
5.2.12 Revvity, Inc.
5.2.12.1 Overview
5.2.12.2 Top Products
5.2.12.3 Top Competitors
5.2.12.4 Target Customers
5.2.12.5 Key Personnel
5.2.12.6 Analyst View
5.2.13 Psomagen
5.2.13.1 Overview
5.2.13.2 Top Products
5.2.13.3 Top Competitors
5.2.13.4 Target Customers
5.2.13.5 Key Personnel
5.2.13.6 Analyst View
5.2.14 QIAGEN N.V.
5.2.14.1 Overview
5.2.14.2 Top Products
5.2.14.3 Top Competitors
5.2.14.4 Target Customers
5.2.14.5 Key Personnel
5.2.14.6 Analyst View
5.2.15 Takara Bio Inc.
5.2.15.1 Overview
5.2.15.2 Top Products
5.2.15.3 Top Competitors
5.2.15.4 Target Customers
5.2.15.5 Key Personnel
5.2.15.6 Analyst View
6.1 Data Sources
6.1.1 Primary Data Sources
6.1.2 Secondary Data Sources
6.1.3 Data Triangulation
6.2 Market Estimation and Forecast
Table 1: Market Snapshot
Table 2: Global Targeted Sequencing Market, Opportunities
Table 3: Global Targeted Sequencing Market, Trend Analysis
Table 4: Some Product Launches in the Targeted Sequencing Market
Table 5: Global Targeted Sequencing Market, Key Partnerships and Collaborations
Table 6: Targeted Sequencing Market, Regulatory Landscape
Table 7: Impact Analysis of Market Navigating Factors, 2023-2033
Table 8: Comparison Between Types of Next-Generation Sequencing Techniques
Table 9: Global Targeted Sequencing Market (by Product), $Million, 2023-2033
Table 10: Global Targeted Sequencing Market (by Type of Target Capture), $Million, 2023-2033
Table 11: Global Targeted Sequencing Market (by Type of Target Capture), $Million, 2023-2033
Table 12: Targeted Sequencing Market (by Region), $Million, 2023-2033
Table 13: North America Targeted Sequencing Market (by Application), $Million, 2023-2033
Table 14: North America Targeted Sequencing Market (by End User), $Million, 2023-2033
Table 15: North America Targeted Sequencing Market (by Product Type), $Million, 2023-2033
Table 16: North America Targeted Sequencing Market (by Target Enrichment Methods), $Million, 2023-2033
Table 17: North America Targeted Sequencing Market (by Type of Target Capture), $Million, 2023-2033
Table 18: U.S. Targeted Sequencing Market (by End User), $Million, 2023-2033
Table 19: U.S. Targeted Sequencing Market (by Product Type), $Million, 2023-2033
Table 20: Canada Targeted Sequencing Market (by End User), $Million, 2023-2033
Table 21: Canada Targeted Sequencing Market (by Product Type), $Million, 2023-2033
Table 22: Europe Targeted Sequencing Market (by Application), $Million, 2023-2033
Table 23: Europe Targeted Sequencing Market (by End User), $Million, 2023-2033
Table 24: Europe Targeted Sequencing Market (by Product Type), $Million, 2023-2033
Table 25: Europe Targeted Sequencing Market (by Target Enrichment Methods), $Million, 2023-2033
Table 26: Europe Targeted Sequencing Market (by Type of Target Capture), $Million, 2023-2033
Table 27: France Targeted Sequencing Market (by End User), $Million, 2023-2033
Table 28: France Targeted Sequencing Market (by Product Type), $Million, 2023-2033
Table 29: Germany Targeted Sequencing Market (by End User), $Million, 2023-2033
Table 30: Germany Targeted Sequencing Market (by Product Type), $Million, 2023-2033
Table 31: U.K. Targeted Sequencing Market (by End User), $Million, 2023-2033
Table 32: U.K. Targeted Sequencing Market (by Product Type), $Million, 2023-2033
Table 33: Spain Targeted Sequencing Market (by End User), $Million, 2023-2033
Table 34: Spain Targeted Sequencing Market (by Product Type), $Million, 2023-2033
Table 35: Italy Targeted Sequencing Market (by End User), $Million, 2023-2033
Table 36: Italy Targeted Sequencing Market (by Product Type), $Million, 2023-2033
Table 37: Rest-of-Europe Targeted Sequencing Market (by End User), $Million, 2023-2033
Table 38: Rest-of-Europe Targeted Sequencing Market (by Product Type), $Million, 2023-2033
Table 39: Asia-Pacific Targeted Sequencing Market (by Application), $Million, 2023-2033
Table 40: Asia-Pacific Targeted Sequencing Market (by End User), $Million, 2023-2033
Table 41: Asia-Pacific Targeted Sequencing Market (by Product Type), $Million, 2023-2033
Table 42: Asia-Pacific Targeted Sequencing Market (by Target Enrichment Methods), $Million, 2023-2033
Table 43: Asia-Pacific Targeted Sequencing Market (by Type of Target Capture), $Million, 2023-2033
Table 44: China Targeted Sequencing Market (by End User), $Million, 2023-2033
Table 45: China Targeted Sequencing Market (by Product Type), $Million, 2023-2033
Table 46: India Targeted Sequencing Market (by End User), $Million, 2023-2033
Table 47: India Targeted Sequencing Market (by Product Type), $Million, 2023-2033
Table 48: Japan Targeted Sequencing Market (by End User), $Million, 2023-2033
Table 49: Japan Targeted Sequencing Market (by Product Type), $Million, 2023-2033
Table 50: South Korea Targeted Sequencing Market (by End User), $Million, 2023-2033
Table 51: South Korea Targeted Sequencing Market (by Product Type), $Million, 2023-2033
Table 52: Australia Targeted Sequencing Market (by End User), $Million, 2023-2033
Table 53: Australia Targeted Sequencing Market (by Product Type), $Million, 2023-2033
Table 54: Rest-of-Asia-Pacific Targeted Sequencing Market (by End User), $Million, 2023-2033
Table 55: Rest-of-Asia-Pacific Targeted Sequencing Market (by Product Type), $Million, 2023-2033
Table 56: Latin America Targeted Sequencing Market (by Application), $Million, 2023-2033
Table 57: Latin America Targeted Sequencing Market (by End User), $Million, 2023-2033
Table 58: Latin America Targeted Sequencing Market (by Product Type), $Million, 2023-2033
Table 59: Latin America Targeted Sequencing Market (by Target Enrichment Methods), $Million, 2023-2033
Table 60: Latin America Targeted Sequencing Market (by Type of Target Capture), $Million, 2023-2033
Table 61: Brazil Targeted Sequencing Market (by End User), $Million, 2023-2033
Table 62: Brazil Targeted Sequencing Market (by Product Type), $Million, 2023-2033
Table 63: Mexico Targeted Sequencing Market (by End User), $Million, 2023-2033
Table 64: Mexico Targeted Sequencing Market (by Product Type), $Million, 2023-2033
Table 65: Rest-of-Latin America Targeted Sequencing Market (by End User), $Million, 2023-2033
Table 66: Rest-of-Latin America Targeted Sequencing Market (by Product Type), $Million, 2023-2033
Table 67: Middle East and Africa Targeted Sequencing Market (by Application), $Million, 2023-2033
Table 68: Middle East and Africa Targeted Sequencing Market (by End User), $Million, 2023-2033
Table 69: Middle East and Africa Targeted Sequencing Market (by Product Type), $Million, 2023-2033
Table 70: Middle East and Africa Targeted Sequencing Market (by Target Enrichment Methods), $Million, 2023-2033
Table 71: Middle East and Africa Targeted Sequencing Market (by Type of Target Capture), $Million, 2023-2033
Table 72: U.A.E. Targeted Sequencing Market (by End User), $Million, 2023-2033
Table 73: U.A.E Targeted Sequencing Market (by Product Type), $Million, 2023-2033
Table 74: South Africa Targeted Sequencing Market (by End User), $Million, 2023-2033
Table 75: South Africa Targeted Sequencing Market (by Product Type), $Million, 2023-2033
Table 76: Rest-of-Middle East and Africa Targeted Sequencing Market (by End User), $Million, 2023-2033
Table 77: Rest-of-Middle East and Africa Targeted Sequencing Market (by Product Type), $Million, 2023-2033
Figure 1: Global Targeted Sequencing Market, $Million, 2024, 2027, and 2033
Figure 2: Global Targeted Sequencing Market (by Region), $Million, 2023, 2027, and 2033
Figure 3: Global Targeted Sequencing Market (by Application), $Million, 2023, 2027, and 2033
Figure 4: Global Targeted Sequencing Market (by Target Enrichment Method), $Million, 2023, 2027, and 2033
Figure 5: Global Targeted Sequencing Market (by Target Capture), $Million, 2023, 2027, and 2033
Figure 6: Global Targeted Sequencing Market (by End User), $Million, 2023, 2027, and 2033
Figure 7: Global Targeted Sequencing Market (by Product Type), $Million, 2023, 2027, and 2033
Figure 8: Key Industrial Developments in Global Targeted Sequencing Market, 2023
Figure 9: Workflow of Targeted Sequencing
Figure 10: Targeted Sequencing Market, Number of Patents (by Country), January 2019-February 2024
Figure 11: Targeted Sequencing Market (by Year), January 2019-February 2024
Figure 12: U.S. Targeted Sequencing Market, $Million, 2023-2033
Figure 13: Canada Targeted Sequencing Market, $Million, 2023-2033
Figure 14: France Targeted Sequencing Market, $Million, 2023-2033
Figure 15: Germany Targeted Sequencing Market, $Million, 2023-2033
Figure 16: U.K. Targeted Sequencing Market, $Million, 2023-2033
Figure 17: Spain Targeted Sequencing Market, $Million, 2023-2033
Figure 18: Italy Targeted Sequencing Market, $Million, 2023-2033
Figure 19: Rest-of-Europe Targeted Sequencing Market, $Million, 2023-2033
Figure 20: China Targeted Sequencing Market, $Million, 2023-2033
Figure 21: India Targeted Sequencing Market, $Million, 2023-2033
Figure 22: Japan Targeted Sequencing Market, $Million, 2023-2033
Figure 23: South Korea Targeted Sequencing Market, $Million, 2023-2033
Figure 24: Australia Targeted Sequencing Market, $Million, 2023-2033
Figure 25: Rest-of-Asia-Pacific Targeted Sequencing Market, $Million, 2023-2033
Figure 26: Brazil Targeted Sequencing Market, $Million, 2023-2033
Figure 27: Mexico Targeted Sequencing Market, $Million, 2023-2033
Figure 28: Rest-of-Latin America Targeted Sequencing Market, $Million, 2023-2033
Figure 29: U.A.E. Targeted Sequencing Market, $Million, 2023-2033
Figure 30: South Africa Targeted Sequencing Market, $Million, 2023-2033
Figure 31: Rest-of-Middle East and Africa Targeted Sequencing Market, $Million, 2023-2033
Figure 32: Share of Strategic Initiatives
Figure 33: Data Triangulation
Figure 34: Top-Down and Bottom-Up Approach
Figure 35: Assumptions and Limitations
Targeted Sequencing Market Report Coverage
|
Targeted Sequencing Market |
|||
|
Base Year |
2023 |
Market Size in 2023 |
$3,479.8 Million |
|
Forecast Period |
2024-2033 |
Value Projection and Estimation by 2033 |
$10,987.4 Million |
|
CAGR During Forecast Period |
12.28% |
Number of Pages |
138 |
| Number of Tables | 77 |
Number of Figures |
35 |
Key Market Players and Competition Synopsis
The global targeted sequencing industry is in a growth phase and constantly evolving. Illumina, Inc. holds a significant market share in terms of technology and consumables and is expected to retain its dominance. The market dominance can be attributed to its huge product portfolio and highly accurate sequencing instruments. Other established players in the market include PerkinElmer, Inc., Beijing Genomics Institute (BGI), Thermo Fisher Scientific, Inc., and Agilent Technologies, Inc.
Some of the prominent companies in this market are:
• Agilent Technologies, Inc.
• Azenta, Inc.
• BGI Group
• CD Genomics
• F. Hoffmann-La Roche Ltd
• Daicel Corporation
• Thermo Fisher Scientific, Inc.
• Danaher Corporation
• Illumina, Inc.
• LGC Limited
• PacBio
• Revvity, Inc.
• Psomagen
• QIAGEN N.V.
• Takara Bio Inc.
Companies that are not a part of the aforementioned pool have been well-represented across different sections of the report (wherever applicable).
How can this report add value to an organization?
Workflow/Innovation Strategy: The targeted sequencing market (by application) has been segmented into detailed segments of the application of targeted sequencing based on applications, including cancer, reproductive health, hereditary diseases, neurological disorders, infectious diseases, cardiovascular diseases, rare diseases, and other applications.
Growth/Marketing Strategy: Constant advancement and innovation to enhance performance and efficiency can enable prominent players to command premium prices while maintaining growth in revenue and volume.
Competitive Strategy: Key players in the global targeted sequencing market have been analyzed and profiled in the study, including manufacturers involved in new product launches, acquisitions, expansions, and strategic collaborations. Moreover, a detailed competitive benchmarking of the players operating in the global targeted sequencing market has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations are expected to aid the reader in understanding the untapped revenue pockets in the market.
Methodology
Key Considerations and Assumptions in Market Engineering and Validation
• The base year considered for the calculation of the market size is 2023. The historical year analysis has been done from FY2020 to FY2022, and the market size has been calculated for FY2023 and projected for the period 2024-2033.
• The geographical distribution of the market revenue is estimated to be the same as the company’s net revenue distribution. All the numbers have been adjusted to two digits after decimals for report presentation reasons. However, the real figures have been utilized for compound annual growth rate (CAGR) estimation. CAGR has been calculated from 2024 to 2033.
• The market has been mapped based on different types of products available in the market and several indications. All the key manufacturing companies that have a significant number of offerings to the targeted sequencing market have been considered and profiled in the report.
• In the study, the primary respondents' verification was considered to finalize the estimated market for the targeted sequencing market.
• The latest annual reports of each market player have been taken into consideration for market revenue calculation.
• Market strategies and developments of key players have been considered for the calculation of sub-segment split.
• The base currency considered for the market analysis is US$. Currencies other than the US$ have been converted to the US$ for all statistical calculations, considering the average conversion rate for that particular year. The currency conversion rate has been taken from the historical exchange rate of the Oanda website or from the annual reports of the respective company, if stated.
Primary Research
The key data points taken from the primary sources include:
• Validation and triangulation of all the numbers and graphs
• Validation of the report’s segmentation and key qualitative findings
• Understanding of the numbers of the various markets for market type
• Percentage split of individual markets for regional analysis
Secondary Research
Open Sources
• Food and Drug Administration (FDA), PubMed, and National Center for Biotechnology Information (NCBI)
• Annual reports, SEC filings, and investor presentations of the leading market players
• Company websites and detailed study of their portfolio
• Gold standard magazines, journals, whitepapers, press releases, and news articles
• Databases
The key data points taken from the secondary sources include:
• Segmentations, split-ups, and percentage shares
• Data for market value
• Key industry trends of the top players in the market
• Qualitative insights into various aspects of the market, key trends, and emerging areas of innovation
• Quantitative data for mathematical and statistical calculations
Global Targeted Sequencing Market Overview
In 2023, the targeted sequencing market held a value of $3,479.8 million. The market is expected to grow at a CAGR of 12.28% during the forecast period 2024-2033 and attain a value of $10,987.4 million by 2033. The global targeted sequencing market is primarily driven by increasing research initiatives, rising demand for precision medicine, and geographical expansion of key players.
Market Lifecycle Stage
The global targeted sequencing market has been characterized by intense competition, as established entities and emerging players compete for a share of the market. The anticipated growth and transformation of the market bring forth both challenges and opportunities, which are expected to make it a dynamic landscape to observe in the upcoming years.
Industry Impact
Targeted sequencing is expected to be a period of wider adoption in clinical settings across various applications. For instance, use in early disease detection, personalized treatment selection, and monitoring treatment response. Additionally, continuous price reduction and higher throughput are driving the widespread adoption at the patient level. Increasing focus on automation in targeted sequencing workflows, single-cell sequencing, advancements in bioinformatics, liquid handling, and nucleic acid preparation are expected to continue to transform targeted sequencing methods. The industry is likely to witness the dynamic contributions of genomics and precision diagnostics.
The industry's advancements in targeted sequencing research and development continually address population health trends, disease prevalence, and treatment outcomes. As a result, the targeted sequencing market's impact extends beyond technological integration for diagnosis, making it an integral component of global health strategies and broader ecosystem.
Market Segmentation:
Segmentation 1: by Application
• Cancer
• Reproductive Health
• Hereditary Diseases
• Neurological Disorders
• Infectious Diseases
• Cardiovascular Diseases
• Rare Diseases
• Other Applications
Cancer to Dominate the Global Targeted Sequencing Market (by Application)
The cancer segment dominated the global targeted sequencing market (by application) in FY2023.
Targeted sequencing panels are rapidly becoming the standard of care in the management of patients with advanced cancer. NGS-based gene panel tests have successfully identified driver mutations in colorectal cancer, breast cancer, and lung cancers, which has subsequently resulted in the development and use of targeted therapies associated with improved outcomes.
Segmentation 2: by End User
• Diagnostic and Clinical Laboratories
• Academic and Research Institutions
• Pharmaceutical and Biotech Companies
• Other End Users
Academic and Research Institutions to Dominate the Global Targeted Sequencing Market (by End User)
The academic and research institutions segment dominated the global targeted sequencing market (by end user) in FY2023.
Growing research initiatives undertaken by universities and research institutes in exploring new applications for targeted sequencing are driving the academic and research institutions segment growth.
Segmentation 3: by Product Type
• Instruments
• Services
• Kits/Panels and Assays
• Others
Services to Dominate the Global Targeted Sequencing Market (by Product Type)
The global targeted sequencing market (by product type) was dominated by the services segment in FY2023. This is largely due to the value proposition offered by targeted sequencing services. These services present an economically viable, efficient, and expertise-centric approach for laboratories and researchers.
Segmentation 4: by Target Enrichment Method
• Hybridization Capture
• Amplicon Sequencing
• Other Target Enrichment Methods
Hybridization Capture to Dominate the Global Targeted Sequencing Market (by Target Enrichment Method)
The global targeted sequencing market (by target enrichment method) was dominated by the hybridization capture segment in FY2023. The hybridization capture-based method is more suitable for research and discovery projects. Therefore, scientists and clinicians tend to employ hybridization capture for large panels for the detection of SNPs, fusion genes, copy number variations (CNV), and others.
Segmentation 5: by Target Capture
• Targeted DNA Sequencing
• Targeted RNA Sequencing
• Other Types of Target Capture
Targeted DNA Sequencing to Dominate the Global Targeted Sequencing Market (by Target Capture)
The global targeted sequencing market (by target capture) was dominated by the targeted DNA sequencing segment in FY2023. Targeted DNA sequencing allows researchers to focus time and expense on the data analysis of only the regions of interest.
Segmentation 6: by Region
• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa
The targeted sequencing market in the North America region has been witnessing significant growth of 12.39% in the forecast period, marked by increasing research and development in the region and early adoption of advanced technologies. In 2023, North America accounted for a share of 49.90% of the global targeted sequencing market.
Demand - Drivers, Restraints, and Opportunities
Market Drivers:
Increasing Demand for High Depth of Coverage in Sequencing: Increasing depth of coverage is a pivotal driving factor in the targeted sequencing market, as it directly influences the accuracy and reliability of genomic analyses.
Market Restraints:
Lack of Advanced Genomic Testing Centers: There is difficulty in establishing and maintaining different sequencing technology platforms, including their supportive genomic data analysis software tools, which also require maintenance in terms of upgrades.
Market Opportunities:
Increasing Opportunities in Early Diagnosis: With the rise in advancements in NGS, early diagnosis and gene editing have been more feasible with techniques such as targeted sequencing.
Analyst View
According to Swati Sood, Principal Analyst at BIS Research, “The global targeted sequencing market has been experiencing growth driven by a confluence of factors. One of the primary drivers is the increasing demand for in-depth coverage in sequencing. Moreover, the market is driven by a growing number of government initiatives and the benefits of targeted sequencing as compared to other sequencing methods. Furthermore, growing technological advancements in North America act as an opportunity for the market players to strategically partner and further expand their business.”
Targeted Sequencing Market - A Global and Regional Analysis
Focus on Application, Product Type, Target Enrichment Methods, Type of Target Capture, End User, and Region - Analysis and Forecast, 2024-2033
Some Faq's
Frequently Asked Questions
Ans: Targeted sequencing refers to a next-generation sequencing (NGS) approach that focuses on specific genomic regions or genes of interest rather than sequencing the entire genome. It involves selectively enriching and analyzing these targeted regions, allowing users to concentrate their efforts and resources on areas of relevance to their studies.
Ans: The targeted sequencing market has witnessed several trends, and here are some key trends observed in this market:
• Increasing Number of Targeted Sequencing Products and Services in the Market: The targeted sequencing market has been witnessing several product and service launches. Increasing cancer prevalence globally, low cost of human genome sequencing over the last decade, and efficient sequencing have led to an increase in the number of products in the market.
• Increasing Synergistic Partnerships between Market Players: Partnerships and collaborations among market players stand out as pivotal drivers in propelling the global targeted sequencing market forward. Synergistic partnerships between companies in the targeted sequencing market are crucial because they facilitate innovation, improve market competitiveness, enhance technological capabilities, and foster greater market penetration.
These are only a few illustrations of the major trends in the industry.
Ans: The global targeted sequencing market is currently witnessing several developments, primarily aimed at bringing new products and entering into collaborations and partnerships. Major manufacturers of products are actively undertaking significant business strategies to translate success in research and development into the commercial clinical setting. Many players are also looking forward to collaborations with hospitals and clinical laboratories.
Ans: A new entrant can focus on developing innovative services and products. The market majorly consists of top established players such as Agilent Technologies, Inc., Thermo Fisher Scientific, Inc., and BGI Genomics.
Ans: The following are some of the USPs of this report:
• Market Growth Potential
• Patent Analysis
• Regulatory Framework
• Market Dynamics
• Market Opportunities
• Detailed Segmentation such as Application, End User, Target Enrichment Method, Target Capture, and Product Type
• Region and Country-Level Market Size and Forecast for End User and Product Type
• Competitive Landscape
Ans: Sequencing manufacturers, CROs, CMOs, and CDMOs focusing on healthcare products can buy this report.
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