DUBLIN–(BUSINESS WIRE)–The “Global Next-Generation Sequencing on Drug Development Market” report has been added to ResearchAndMarkets.com’s offering.
The latest market analysis reveals a promising trajectory for the global Next-Generation Sequencing (NGS) in Drug Development market. With an expected surge from $1.3 billion in 2023 to a projected $2.9 billion by 2028.
The market is anticipated to experience a robust Compound Annual Growth Rate (CAGR) of 17.7%. This growth is propelled by the transformative potential of NGS technologies in revolutionizing genetic research and advancing drug development.
The comprehensive report explores a wide spectrum of NGS technologies, applications, industries, initiatives, patents, and key market players. It meticulously delineates market dynamics for NGS in drug development, offering insights into the years 2020, 2021, 2022, 2023, and the promising horizon of 2028.
NGS, founded on the concept of massive parallel sequencing that yields a plethora of relatively small reads, has emerged as an indispensable tool in genetic research. This technology has bridged critical gaps in research tools, empowering researchers to tackle complex genomic questions across diverse fields, such as de-novo genome sequencing, comparative genomics, gene expression, and gene regulation studies. As a linchpin in these research endeavors, NGS drives discoveries and lays the foundation for the future of personalized medicine.
NGS in drug discovery and development centers on two key facets: target identification and genetically stratified clinical trials. By leveraging the wealth of human genetic information, NGS facilitates the identification of drug targets, validation of therapeutic hypotheses, and prediction of safety profiles for inhibitory compounds targeting molecular markers. Its potential to uncover mutations linked to genetic diseases and identify target genes for future drug development is groundbreaking.
The adoption of NGS technologies is poised to unravel the genetic basis of human diseases, discover novel compounds, optimize drug efficacy, mitigate adverse reactions, and pave the way for personalized therapies. Notably, the pharmaceutical industry is actively engaged in population-scale NGS analyses to unearth new insights into human diseases. Additionally, focused NGS analyses in clinical trials are aimed at pinpointing biomarkers indicative of drug efficacy and safety. In the foreseeable future, NGS may usher in a wave of new compounds for the market, while genetically stratified clinical trials could be tailored to specific participant subsets based on genetic profiles and clinical biomarkers.
The report segments the global NGS market in drug development based on product type, end user, and geography, encompassing instruments, consumables, and services. Leading pharmaceutical and biotechnology companies are at the forefront of launching innovative NGS instruments tailored for drug development.
A notable example is the strategic research collaboration initiated in October 2022 between Illumina Inc. and AstraZeneca, a renowned global biopharmaceutical company. This collaboration leverages artificial intelligence (AI)-based genome interpretation and genomic analysis techniques, along with industry expertise, to accelerate drug target discovery. The integrated framework of these technologies holds the potential to enhance the efficiency and confidence in target discovery, giving rise to promising drugs rooted in human omics insights.
Companies Mentioned
- 10X Genomics
- Agilent Technologies Inc.
- BGI (Beijing Genomics Institute)
- Bio-Rad Laboratories Inc.
- CD Genomics
- Illumina Inc.
- Integrated DNA Technologies Inc.
- Micronoma
- New England Biolabs
- Oxford Nanopore Technologies
- Pacific Biosciences of California Inc.
- PerkinElmer Inc.
- Promega Corp.
- Psomagen Inc.
- Precision for Medicine, Formerly Apocell
- Qiagen
- Roche Holding AG
- Thermo Fisher Scientific Inc.
- Takara Bio Inc.
- Tecan Group Ltd.
Report Highlights:
- 52 data tables and 39 additional tables
- In-depth analysis spanning the years 2020-2022, with estimates for 2023 and projections of Compound Annual Growth Rates (CAGRs) through 2028
- Insights into market potential, product and service characterization, end-user segmentation, and regional trends
- Exploration of key market drivers and constraints, with an emphasis on upcoming opportunities and areas of focus
- Coverage of recent advancements, emerging technologies, and industry developments
Key Topics Covered:
Chapter 1 Introduction
Chapter 2 Summary and Highlights
Chapter 3 Market Overview
Chapter 4 Market Dynamics
- Market Drivers
- Increasing R&D Activities Using NGS Technologies
- Increase in Healthcare Expenditure
- Technological Advancements in Sequencing Platforms
- Shift Towards Precision Medicine
- Growing Demand of NGS for Designing Individualized Medicine to Cancer Patients
- High Accuracy and Low Cost
- Market Restraints
- Limitations Associated With NGS Technology
- Other Clinical Sequencing Technology Challenges
- Market Opportunities
- Rising R&D in NGS Creates Lucrative Opportunities for Manufacturers
Chapter 5 NGS in Drug Development by Product Type
Chapter 7 NGS Market in Drug Development by Region
Chapter 8 Sustainability of NGS in Drug Development: An ESG Perspective
Chapter 9 Emerging Technologies and Developments
Chapter 10 Patent Analysis
Chapter 11 M&A and Funding Outlook
Chapter 12 Competitive Landscape
Chapter 13 Company Profiles
Chapter 14 Appendix: Acronyms
For more information about this report visit https://www.researchandmarkets.com/r/o743w9
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