Targeted Sequencing Market Size, Strategic Analysis, Growth Drivers, Industry Trends, Demand and Future Opportunities and Forecast 2030
The targeted sequencing market was
estimated to be worth USD 3.6 billion globally in 2022, and over the course of
the projected period, a CAGR of 12.3% is anticipated. The targeted sequencing
market is expanding because to a rise in research projects and a growing need
for early illness identification. Pharmacogenomics, uncommon disease detection,
and genetic variant identification for crop development, increased agricultural
output, and breeding programs all benefit greatly from it. Using material blood
samples, it is also utilized to find genetic problems in fetuses.
Technological developments in sequencing are driving down
sequencing prices and driving up usage in research and therapeutic contexts.
The need for targeted sequencing is being driven by the rising incidence of
genetic diseases. The global expansion of research and development endeavors is
propelling the market's growth.
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Growth Drivers
The market is expected to increase significantly due to
ongoing advancements in sequencing technologies, growing acceptance in clinical
and research settings, and the expanding applications of genomics across
numerous industries. The market is growing at a substantial rate due to the
significance of genomics in public health response and preparation. The
efficiency, accuracy, and cost-effectiveness of next-generation sequencing
technology have all increased due to ongoing developments. Its enhanced depth
and precision in high-throughput sequencing of targeted genomic areas
encourages its use in clinical and scientific applications.
The demand for targeted sequencing is
being driven by the increased emphasis on customized medicine, which entails
customizing medical care to each patient's unique genetic traits. It
facilitates the development of tailored medicines by allowing the detection of
genetic variation linked to disease, drug responses, and treatment results. The
market is expanding dramatically because to the rising incidence of genetic
disorders, auto-immune diseases, and cancer.
Segmentation
Product Type
· Instruments
· Services
· Kits/
Panels
· Others
By End-User
· Diagnostic
and Clinical Laboratories
· Academic
and Research Institutions
· Pharmaceutical
and Biotech Companies
· Others
By Application
· Cancer
· Reproductive
Health
· Heredity
Diseases
· Neurological
Disorders
· Infectious
Diseases
· Rare
Diseases
· Cardiovascular
Diseases
· Others
Regional Outlook
· Asia
Pacific
· North
America
· Latin
America
· Europe
· Middle
East and Africa
Key Players
· Illumina
· Thermo
Fisher Scientific
· Qiagen
· Agilent
Technologies
· BGI
Group
· Roche
· Oxford
Nanopore Technologies
· Pacific
Biosciences
· PerkinElmer
· GenScript
· Other
Players
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