Genohub Blog

The next generation sequencing market is poised to reach $2.7 billion by 2017 as presented by marketsandmarkets.com. This represents an estimated growth of 16.3% from a market value of $1.3 billion in 2012. Marketsandmarkets presents a detailed analysis of their findings from which the following top next generation sequencing market drivers and hindrances are derived:

5 Top NGS Market Drivers:

1. Continuous innovations and developments in the market aimed at higher throughput, increased accuracy, and affordable costs
2. Improved turnaround time
3. Government funding
4. Increasing opportunities in NGS clinical applications
5. Presence of dominant NGS platform players

Although the next generation sequencing market is growing rapidly, there are factors which have been weighing down the market as a whole.

5 Top NGS Market Hindrances:

1. High reliability on grants and funding from the government
   
2. Decrease in capital expenditure from academic institutions
3. Accuracy and standardization concerns
4. Data storage problems
5. Issues in interpretation of complex data

The future of the NGS market promises to offer a simpler, less costly, and more integrated experience for researchers. The market is also poised to revolutionize applied markets like diagnostics, drug discovery, biomarker discovery, personalized medicine, and agriculture and animals research.