Published Year: 2021
Global Long-Read Sequencing Market: Focus on Products and Services, Technology, Application, End Use
The global long-read sequencing market is projected to reach $3,305.5 million by 2030 from...
Market Research Report
A quick peek into the report
Market Report Coverage
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Targeted Sequencing Market |
|||
|
Base Year |
2021 |
Market Size in 2022 |
$3,198.8 Million |
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Forecast Period |
2022-2032 |
Value Projection and Estimation by 2032 |
$10,976.1 Million |
|
CAGR During Forecast Period |
13.12% |
Number of Tables |
11 |
|
Number of Pages |
256 |
Number of Figures |
178 |
Key Market Players and Competition Synopsis
The companies that are profiled have been selected based on inputs gathered from primary experts, analyzing company coverage, product portfolio, and market penetration.
The top segment players leading the market include targeted sequencing instruments, kits/panels and assays, services, and other product types providers. Targeted sequencing instrument providers constitute around 10.20% of the presence in the market, kits/panels and assays constitute 24.81% of the market, services providers constitute about 58.53% of the market, and other product types constitute 6.47% of the targeted sequencing market.
Key Companies Profiled
• Agilent Technologies, Inc.
• Azenta US, Inc. (GENEWIZ)
• BGI Group (MGI Tech Co., Ltd.)
• CD Genomics
• Daicel Corporation (Daicel Arbor Biosciences)
• Danaher. (Integrated DNA Technologies, Inc.)
• F. Hoffmann-La Roche Ltd
• Illumina, Inc.
• LGC Limited (LGC Biosearch Technologies)
• PacBio.
• PerkinElmer Inc.
• Psomagen
• QIAGEN N.V.
• Takara Bio Inc.
• Tecan Trading AG
• Thermo Fisher Scientific Inc.
• Twist Bioscience.
Industry and Technology Overview
Global Targeted Sequencing Market Industry Overview
The global targeted sequencing market is projected to reach $10,976.1 million by 2032 from $3,198.8 million in 2022, growing at a CAGR of 13.12% during the forecast period 2022-2032. The growth in the global targeted sequencing market is expected to be driven by the increased use of targeted sequencing in clinical laboratories and diagnostic applications, especially in cancer research.
Market Lifecycle Stage
Targeted sequencing is a cost-effective and rapid way to detect novel and known variants in selected genetic or genomic regions. There are several different methods of DNA/RNA sequencing depending on the scale of the region being sequenced. Next-generation sequencing (NGS) is the most used method for targeted sequencing, which offers good scalability, speed, and resolution to evaluate the targeted regions of interest. Other methods include sanger sequencing and CRISPR.
The major advantage of targeted sequencing as compared to whole genome sequencing is the smaller and more manageable data sets created, which are significantly easier to analyze. Targeted next-generation sequencing focuses on specific genomic areas of interest, which is ideal for examining specific pathways or targeted resequencing. Furthermore, it is more rapid and cost-effective as compared to whole genome sequencing and allows deeper sequencing. This is a powerful and especially sensitive method of identifying gene mutations and variants, including rare variants.
Figure: Global Targeted Sequencing Market Snapshot
Source: BIS Research Analysis
Impact
• The presence of major kits/panels and assay providers of targeted sequencing has a major impact on the market. For instance, in September 2022, Thermo Fisher Scientific Inc. received FDA approval for its Oncomine Dx Target Test. This is a companion diagnostic (CDx) test for RET-fusion-positive or metastatic non-small cell lung cancer patients.
• Companies such as Danaher. (Integrated DNA Technologies, Inc.) partnered with Munich Leukaemia Laboratory (MLL)in March 2022 to join the company’s align program. The extensive sequencing portfolio of MLL combined with the company's xGen portfolio of NGS solutions helped researchers with their NGS workflow needs.
Impact of COVID-19
In March 2019, the world was hit by a storm with the SARS-CoV-2 virus, which led to the shutting down of the entire world and everybody getting tested for the virus. As the amount of testing increased, it became important to increase the pace of testing as well. Research in sequencing the genome of the virus amplified, and governments provided lots of grants for the sequencing of the virus for syringe manufacturing.
The amplicon-based next-generation sequencing (NGS) method was widely used for genome sequencing. This is due to the ease of use and low sequencing cost of this method. This has made it the method of choice among many laboratories. COVID-19 genome sequencing is accomplished using a probe-based liquid phase hybridization technique, which can then be followed by NGS sequencing. The appeal of using target capture NGS methodology has the ability to enrich the limitless repertoire of genetic loci without the constant need to update primers and to deal with multiplexing issues that are encountered by amplicon-based approaches. That’s another reason why virome target capture NGS methodologies are being developed. The target capture-based NGS approach has another advantage, i.e., it is better at sequencing degraded samples as compared to other NGS approaches. End-to-end target-based NGS solution, which is validated for concurrent detection and sequencing characterization for respiratory viruses like SARS-CoV-2 and other respiratory pathogens, is a powerful tool for genomic surveillance in the post-COVID-19 era and can play a crucial role in the timely generation and dissemination of the genomic data.
Market Segmentation:
Segmentation 1: by Product Type
• Instruments
• Kits/Panels and Assays
• Services
• Other Product Types
The global targeted sequencing market in product type is expected to be dominated by services segment during the forecast period 2022-2032. This is due to the increasing use of targeted sequences by small and mid-sized companies for whom opting for services is cheaper than purchasing sequencing instruments.
Segmentation 2: by Target Enrichment Method
• Hybridization Capture
• Amplicon Sequencing
• Other Target Enrichment Methods
The target enrichment method segment is expected to be dominated by the amplicon sequencing segment during the forecast period 2022-2032. This is because amplicon sequencing is an older technology and is currently more trusted, whereas hybridization capture is faster and more efficient, and thus, the segment is expected to grow at a higher CAGR in the coming years.
Segmentation 3: by Type of Target Capture
• Targeted DNA Sequencing
• Targeted RNA Sequencing
• Other Types of Target Capture
The global targeted sequencing market by type of target capture is expected to be dominated by targeted DNA sequencing segment during the forecast period 2022-2032. This is due to easy analysis and faster results when using targeted DNA sequencing segment.
Segmentation 4: by Application
• Oncology
• Reproductive Health
• Hereditary Diseases
• Neurological Disorders
• Infectious Diseases
• Cardiovascular Diseases
• Rare Diseases
• Other Applications
The oncology segment is expected to dominate the market during the forecast period 2022-2032. This growth in this segment is attributed to the increasing use of targeted sequencing in clinical applications, especially w.r.t. cancer panels.
Segmentation 5: by End User
• Diagnostic and Clinical Laboratories
• Academic and Research Institutions
• Pharmaceutical and Biotech Companies
• Other End Users
Academic and research institutions is expected to dominate the end user segment in the market during the forecast period 2022-2032. However, the diagnostic and clinical laboratories segment is supposed to grow with the fastest CAGR during the forecast period. This is due to the increasing use of targeted sequencing in clinical applications as more kits/panels, and assays get FDA approvals.
Segmentation 6: by Region
• North America
• Europe
• Asia-Pacific
• Latin America
• Rest-of-the-World (RoW)
North America is expected to dominate the global targeted sequencing market with a revenue of $1,413.4 million in 2021. However, the Asia-Pacific (APAC) region, constituting several emerging economies, is expected to register the highest CAGR of 15.27% during the forecast period 2022-2032.
Recent Developments in Global Targeted Sequencing Market
• In August 2022, QIAGEN N.V. launched its QIAseq targeted DNA pro panels and the QIAseq UPXome RNA library kit as an expansion of its next-generation sequencing (NGS) portfolio. Both these launches lead to the growth of the company's sequencing product portfolio.
• In September 2022, BGI Group (MGI Tech Co., Ltd.) launched its DNBSEQ-G99, which is a mid to low-range throughput sequencer. This makes this sequencer especially suitable for targeted gene sequencing, small gene sequencing, and high and rapid-quality data output.
• In June 2022, Agilent Technologies, Inc. announced its collaboration with the Amazon Elastic Compute Cloud (Amazon EC2) G5g powered by Amazon Web Services (AWS) Graviton2 processors. The NVIDIA T4G Tensor Core GPUs, combined with NVIDIA Clara Parabricks' advanced genomics capabilities, improved Agilent Technologies, Inc.'s cloud-native Alissa Reporter software. This collaboration is expected to streamline the company's SureSelect family NGS assays, which comprise a wide range of custom and catalog panels.
• In June 2022, Danaher. (Integrated DNA Technologies, Inc.) made an agreement with Beckman Coulter, Inc. Life Sciences for the distribution of its Biomek NGenius Next Generation Sequencing Library Prep System. This deal helped make high-performance NGS solutions more accessible to laboratories.
Demand – Drivers and Limitations
Following are the demand drivers for the global targeted sequencing market:
• Rising Need for Sequencing at Greater Depth
• Lower Cost and Data Burden of Targeted Sequencing When Compared to Whole Genome Sequencing
• Increase in Cancer Prevalence
The market is expected to face some limitations too due to the following challenges:
• Lack of Knowledge About New Genes and Biomarkers
• Lack of High Complexity Genomic Testing Centers in High Potential Markets
Analyst’s View
According to Nitish Kumar, Principal Analyst, BIS Research, “Global targeted sequencing market is a rapidly emerging market and is expected to dominate NGS sequencing in the coming years due to the continuous increase in the demand for disease diagnosis and industrial analysis using next-generation sequencing technology.”
Targeted Sequencing Market - A Global and Regional Analysis
Focus on Product Type, Target Enrichment Method, Type of Target Capture, Application, End User, and Region Analysis - Analysis and Forecast, 2022-2032
Some Faq's
Frequently Asked Questions
Targeted sequencing is a cost-effective and rapid way to detect novel and known variants in selected genetic or genomic regions. There are several different methods of DNA/RNA sequencing depending on the scale of the region being sequenced. Next-generation sequencing (NGS) is the most used method for targeted sequencing, which offers good scalability, speed, and resolution to evaluate the targeted regions of interest. Other methods include sanger sequencing and CRISPR.
The major advantage of targeted sequencing as compared to whole genome sequencing is the smaller and more manageable data sets created, which are significantly easier to analyze. Targeted next-generation sequencing focuses on specific genomic areas of interest, which is ideal for examining specific pathways or targeted resequencing. Furthermore, it is more rapid and cost-effective as compared to whole genome sequencing and allows deeper sequencing. This is a powerful and especially sensitive method of identifying gene mutations and variants, including rare variants.
The global targeted sequencing market has seen major developments such as business expansion, partnership, collaboration, and joint ventures by key players operating in the market. According to BIS Research analysis, the majority of the companies preferred partnerships, collaborations, and joint ventures as a strategy to further increase their growth in the global targeted sequencing market. Companies such as Thermo Fisher Scientific Inc., Danaher. (Integrated DNA Technologies, Inc.), and Twist Bioscience. have majorly adopted partnerships, collaborations, and joint venture strategies.
A new entrant should ideally first figure out the key application areas they want to focus on, as targeted sequencing has multiple applications both in the industrial and diagnostics sectors. Furthermore, the companies should be aware of the latest developments with respect to the biomarkers and genes analyzed with the specific diseases to have the most advanced and precise targeted testing panels.
The following can be considered the USPs of the report:
· The vast segmentation of the report, especially the vast number of applications considered
· It is one of the first reports focusing completely on targeted sequencing present currently in the market
· The workflow of all types and methods of targeted sequencing is explained in detail to understand the market scenario better
· Product specifications and comparative analysis
· Competitive benchmarking of key players for each software and consulting service type
· A detailed comparison between targeted sequencing and whole genome sequencing
This report will be useful for firms planning to enter the targeted sequencing market and investors who want to invest in the technology. Additionally, established market players in this market can also benefit from this report. This is because the report discusses the benefits of using targeted sequencing as compared to other sequencing methods and states how this is a very lucrative and promising market right now.
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