Over the past few years, Next Generation Sequencing (NGS) has provided transformative opportunities, leading to technological advancements in the field of biomedicine, clinical care, and human health. In the past, high cost and complexity of sequencing technology made it impractical to be used for clinical or research purposes. However, with the rapidly decreasing cost, the technique paved its way into various applications across the healthcare sector.

Due to inherent benefits of NGS, the development and advancements in NGS technology stirred a revolution in healthcare industry and established itself as a center of life science research, pharmaceutical development, and innovation in biosciences. According to National Human Genome Research Institute (NHGRI), the cost of sequencing procedures reduced from $100 million in 2001, which reduced to $800,000 in 2008, which further reduced to ~$1,200 in 2019. As a result, the field of genomics penetrated into the life sciences sector, enabling disease detection and development of tailored medicine approach for patients.

Therefore, understanding the high potential of NGS, the governments across the globe are taking exciting steps to improve population studies, detection of diseases, and development of precision medicine. Some of the major initiatives took place in recent years are as follows:

Due to these programs and initiatives, the foundation for personalized medicine has been strengthened, inspiring researchers further. Also, the genomic information provided by genome analysis has further expanded research aspects for population genetics, environmental impact on population groups, drug response, and disease studies, thereby boosting the demand for NGS products. Thus, surge in genome mapping programs is steadily propelling the growth in the NGS market, with a CAGR of 16.2% to reach $10.35 billion by 2025, according to Meticulous Research®. The full report on the Next Generation Sequencing (NGS) Market, published by Meticulous Research®, can be accessed at @https://www.meticulousresearch.com/product/next-generationg-sequencing-market-5040/

Tags: Healthcare
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