[Next Generation Sequencing (NGS) Market][1] Report, published by Allied Market Research, forecasts that the global market was valued at $3,567 million in 2015, and is expected to reach $12,801 million in 2022, supported by a CAGR of 19.9% during the forecast period 2016 - 2022. The consumables product segment held nearly three-fifths of the market share in 2015.

NGS is also known as high-throughput and massive parallelization sequencing technology. In the NGS process, genetic material is extracted, fragmented, and linked to adapters and primers for the amplification reaction (PCR) for library construction. Sequencing of the fragmented genetic material is executed, NGS furnishes a massive set of sequence data in a very small duration. This data is further interpreted and analyzed by clinicians, researchers, scientists and others through clinical, agricultural, forensic, and other applications For instance, NGS has helped researchers identify desirable traits, which have led to resilient and productive livestock and crops. The increase in usage and application of NGS is expected to boost the market growth.

Sequencing by synthesis (SBS), is one of the most renowned and greatly adopted next-generation sequencing (NGS) technologies used by researchers and scientist globally. This technology offers a massive sequence throughput at modest costs, even in a single sequencing run.

The major factors that drive the global NGS market are rise in technological advancements in NGS, growth in collaborations & partnerships, and increase in genome mapping programs throughout the world. In addition, rise in investment in R&D increases the demand for NGS and thereby provides lucrative opportunities for market growth. However, accuracy & standardization concerns and ethical & legal limitations associated with NGS restrain the market growth.

The consumables product segment occupies the greatest share in the NGS product market owing to their sheer usage and need throughout the sample preparation, library construction, and other pre-requisite steps of NGS. Sequencing by synthesis technology is anticipated to dominate the global NGS market as most of the widely used NGS platforms utilize this technology in NGS methods. It accounted for over half of the total share in 2015.