The Global Targeted Sequencing Market is expected to experience steady growth between 2024 and 2028, according to a report by TechSci Research titled “Targeted Sequencing Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F.” This growth can be attributed to the rising demand for more accurate, cost-efficient, and precise sequencing for various diagnostic procedures, such as cancer, immunological disorders, and other disease diagnoses via genomic sequencing.
The increased demand for the Targeted Sequencing Market is influenced by the cost-effectiveness and lower data burden of targeted sequencing, which is significantly less than whole-genome sequencing and its large data burdens. Additionally, amplicon-based next-generation sequencing is in high demand due to its increased precision, accuracy, and low cost, making it less tedious to perform than older methods.
Research and development in the field of genetics and the increased need for sequencing techniques to diagnose several diseases, including Covid-19, has led to government funding and increased grants to improve the healthcare segment worldwide. However, the lack of awareness about sequencing techniques and biomarker availability, along with the shortage of high complexity sequencing laboratories, is hindering the market growth during the forecast period.
The market is segmented based on application, with the oncology segment expected to dominate the market during the forecast period due to increased usage of targeted sequencing, such as Next Generation Sequencing (NGS), in clinical diagnosis and applications. The market is also segmented based on end-user, with the academic and research institution segment dominating the market due to increasing research and development in cancer and other oncology, while the diagnostic and clinical laboratories segment is expected to dominate the market during the forecast period due to the growing usage of targeted sequencing in several clinical applications.
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Furthermore, the market is segmented based on target capture type, with the targeted DNA sequencing segment expected to dominate during the forecast period due to its precision and ease when performed with DNA compared to RNA sequencing.
Moreover, the leading key players are creating more opportunities to propel the market demand for targeted sequencing. For instance, QIAGEN ,In august 2022,launched its two new targeted sequencing products namely, QIAseq target pro panels and QIAseq UPXome RNA library kit to enhance and upgrade its product portfolio.
Major companies operating in the Global Targeted Sequencing Market are:
- BGI Group (MGI Tech Co., Ltd.
- Azenta Inc. (GENEWIZ),Agilent Technologies, Inc.
- Daicel Corporation (Daicel Arbor Biosciences)
- Danaher (Integrated DNA Technologies, Inc.)
- Illumina, Inc.
- LGC Limited (LGC Biosearch Technologies)
- PacBio
- CD Genomics
- F. Hoffmann-La Roche Ltd
Companies operating in the market are following strategies such as continuously innovating tools to improve image quality and create specialized clinical tools to help the patients see more anatomical detail with greater certainty, enabling them to provide the best possible patient care, in order to stay competitive and have an edge over other players operating in the industry.
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“North America region is expected to dominate the Targeted Sequencing Market attributed on account of rising number of research & development on several oncological studies going on in the region. Moreover, the higher availability of high end complex clinical labs required for targeted sequencing in several oncological, genetic and immunological diseases is further expected to support the market growth in the region” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
Targeted Sequencing Market – Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2018-2028. Segmented By Product Type (Kits/Panels and Assays, Instruments and Other), By Target Enrichment Method (Amplicon Sequencing, Hybridization Capture, and others),By Target capture type (Targeted DNA Sequencing, Targeted RNA Sequencing, and others), By Application(Oncology, Infectious Diseases, Cardiovascular Diseases, Reproductive Health, Rare Diseases, Neurological Disorders, Hereditary Diseases and Others), By End Users (Academic and Research Institution, Pharmaceutical and Biotech Companies, Diagnostic & Clinical Laboratories and Other), By Region and Competition.”, has evaluated the future growth potential of Targeted Sequencing Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global Targeted Sequencing Market.
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