Wellesley, Mass., July 20, 2017 (GLOBE NEWSWIRE) --
Next-generation sequencing (NGS) technologies have created new market opportunities in clinical applications, especially in the molecular diagnostic industry. Growth factors such as the falling costs of sequencing tests and the increasing coverage provided by payers and insurance companies also are boosting the commercial appeal of NGS technologies, reports Next-generation Sequencing: Emerging Clinical Applications and Global Markets.
According to the new BCC Research report, several unique aspects of NGS make it a hot technology for clinical applications. Because NGS platforms can sequence entire genomic regions or even entire genomes, a single test can examine hundreds or thousands of clinically important genetic variations. This means that one test can replace multiple conventional single-gene tests, which reduces the cost and the amount of precious sample needed for the test itself. Because of the enormous appeal of NGS technology, BCC Research predicts huge growth for the market, which should jump from nearly $3.2 billion in 2017 to $10.5 billion by 2022, with a 27% CAGR.
By leveraging novel technologies such as microfluidics or gene fusion, companies such as RainDance Technologies, Fluidigm, and Fusion Genomics have gained a substantial market presence, joining stalwarts ThermoFisher Scientific and Illumina. Most of these companies are making strong moves into diagnostics, with some forward and backward integration occurring.
Research Highlights
- Non-cancer applications, which accounted for an estimated $2.3 billion in 2017, are growing at a CAGR of 22.3% to reach a value of $6.4 billion in 2022.
- The field of rare (i.e., Mendelian) diseases is expected to be a strong applications area (28.7% CAGR).
- The focus of DNA sequencing has shifted from cost to the pre- and post-sequencing portions of the NGS workflow.
"The clinical industry is seeking to transform cancer care, with NGS playing an important role," says Robert G Hunter, senior editor healthcare, BCC Research. "Examples include using NGS in liquid biopsy pan-cancer panels such as PlasmaSelect 64, OmniSeq Comprehensive Panel, and Guardant360. Also, making gene sequence and analysis services more accessible to physicians, with an emphasis on noninvasive liquid biopsy formats for early cancer detection, therapy selection and monitoring."
About BCC Research
BCC Research is a publisher of market research reports that provide organizations with intelligence to drive smart business decisions. By partnering with industry experts worldwide, BCC Research provides unbiased measurements and assessments of global markets covering major industrial and technology sectors, including emerging markets. For more information about BCC Research, please visit bccresearch.com. Follow BCC Research on Twitter at @BCCResearch.