From: Next Generation Sequencing (NGS) Market – Global Trends and Forecasts (2011-2016), marketsandmarkets.com, April 2012
The global NGS market was valued at $842.5 million in the year 2011, growing at a CAGR of 22.7% from 2012 to 2016. North America commanded the largest share of 51.8% of the overall NGS technology market in 2011.
The major factors driving the NGS Market is the decrease in the cost of sequencing with increase in the number of applications of sequencing in various fields of science such as cancer research, bio-fuels, marine sciences, live stock research, agricultural, and veterinary research. Thus, there is more demand for the equipment to understand the genome sequencing and utilize it further for human and environmental benefits.
The high pace of NGS research is likely to boost the market for personal genome sequencing in the coming years. Manufacturers predominantly have an inclination towards diagnostic applications both as a supplier and manufacturer. Key players in this market include Illumina (U.S.), Life Technologies (U.S.), 454 Roche (Switzerland), Oxford Nanopore Technologies (U.K.), and Pacific Biosciences (U.S.).