Targeted Sequencing Market - A Global and Regional Analysis: Focus on Product Type, Target Enrichment Method, Type of Target Capture, Application, End User, and Region Analysis - Analysis and Forecast, 2022-2032

Targeted Sequencing Market - A Global and Regional Analysis: Focus on Product Type, Target Enrichment Method, Type of Target Capture, Application, End User, and Region Analysis - Analysis and Forecast, 2022-2032

Global Targeted Sequencing Market Industry Overview

The global targeted sequencing market is projected to reach $10,976.1 million by 2032 from $3,198.8 million in 2022, growing at a CAGR of 13.12% during the forecast period 2022-2032. The growth in the global targeted sequencing market is expected to be driven by the increased use of targeted sequencing in clinical laboratories and diagnostic applications, especially in cancer research.

Market Lifecycle Stage

Targeted sequencing is a cost-effective and rapid way to detect novel and known variants in selected genetic or genomic regions. There are several different methods of DNA/RNA sequencing depending on the scale of the region being sequenced. Next-generation sequencing (NGS) is the most used method for targeted sequencing, which offers good scalability, speed, and resolution to evaluate the targeted regions of interest. Other methods include sanger sequencing and CRISPR.

The major advantage of targeted sequencing as compared to whole genome sequencing is the smaller and more manageable data sets created, which are significantly easier to analyze. Targeted next-generation sequencing focuses on specific genomic areas of interest, which is ideal for examining specific pathways or targeted resequencing. Furthermore, it is more rapid and cost-effective as compared to whole genome sequencing and allows deeper sequencing. This is a powerful and especially sensitive method of identifying gene mutations and variants, including rare variants.

Impact

• The presence of major kits/panels and assay providers of targeted sequencing has a major impact on the market. For instance, in September 2022, Thermo Fisher Scientific Inc. received FDA approval for its Oncomine Dx Target Test. This is a companion diagnostic (CDx) test for RET-fusion-positive or metastatic non-small cell lung cancer patients.
• Companies such as Danaher. (Integrated DNA Technologies, Inc.) partnered with Munich Leukaemia Laboratory (MLL)in March 2022 to join the company’s align program. The extensive sequencing portfolio of MLL combined with the company's xGen portfolio of NGS solutions helped researchers with their NGS workflow needs.

Impact of COVID-19

In March 2019, the world was hit by a storm with the SARS-CoV-2 virus, which led to the shutting down of the entire world and everybody getting tested for the virus. As the amount of testing increased, it became important to increase the pace of testing as well. Research in sequencing the genome of the virus amplified, and governments provided lots of grants for the sequencing of the virus for syringe manufacturing.

The amplicon-based next-generation sequencing (NGS) method was widely used for genome sequencing. This is due to the ease of use and low sequencing cost of this method. This has made it the method of choice among many laboratories. COVID-19 genome sequencing is accomplished using a probe-based liquid phase hybridization technique, which can then be followed by NGS sequencing. The appeal of using target capture NGS methodology has the ability to enrich the limitless repertoire of genetic loci without the constant need to update primers and to deal with multiplexing issues that are encountered by amplicon-based approaches. That’s another reason why virome target capture NGS methodologies are being developed. The target capture-based NGS approach has another advantage, i.e., it is better at sequencing degraded samples as compared to other NGS approaches. End-to-end target-based NGS solution, which is validated for concurrent detection and sequencing characterization for respiratory viruses like SARS-CoV-2 and other respiratory pathogens, is a powerful tool for genomic surveillance in the post-COVID-19 era and can play a crucial role in the timely generation and dissemination of the genomic data.

Market Segmentation:

Segmentation 1: by Product Type

• Instruments
• Kits/Panels and Assays
• Services
• Other Product Types

The global targeted sequencing market in product type is expected to be dominated by services segment during the forecast period 2022-2032. This is due to the increasing use of targeted sequences by small and mid-sized companies for whom opting for services is cheaper than purchasing sequencing instruments.

Segmentation 2: by Target Enrichment Method

• Hybridization Capture
• Amplicon Sequencing
• Other Target Enrichment Methods

The target enrichment method segment is expected to be dominated by the amplicon sequencing segment during the forecast period 2022-2032. This is because amplicon sequencing is an older technology and is currently more trusted, whereas hybridization capture is faster and more efficient, and thus, the segment is expected to grow at a higher CAGR in the coming years.

Segmentation 3: by Type of Target Capture

• Targeted DNA Sequencing
• Targeted RNA Sequencing
• Other Types of Target Capture

The global targeted sequencing market by type of target capture is expected to be dominated by targeted DNA sequencing segment during the forecast period 2022-2032. This is due to easy analysis and faster results when using targeted DNA sequencing segment.

Segmentation 4: by Application

• Oncology
• Reproductive Health
• Hereditary Diseases
• Neurological Disorders
• Infectious Diseases
• Cardiovascular Diseases
• Rare Diseases
• Other Applications

The oncology segment is expected to dominate the market during the forecast period 2022-2032. This growth in this segment is attributed to the increasing use of targeted sequencing in clinical applications, especially w.r.t. cancer panels.

Segmentation 5: by End User

• Diagnostic and Clinical Laboratories
• Academic and Research Institutions
• Pharmaceutical and Biotech Companies
• Other End Users

Academic and research institutions is expected to dominate the end user segment in the market during the forecast period 2022-2032. However, the diagnostic and clinical laboratories segment is supposed to grow with the fastest CAGR during the forecast period. This is due to the increasing use of targeted sequencing in clinical applications as more kits/panels, and assays get FDA approvals.

Segmentation 6: by Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Rest-of-the-World (RoW)

North America is expected to dominate the global targeted sequencing market with a revenue of $1,413.4 million in 2021. However, the Asia-Pacific (APAC) region, constituting several emerging economies, is expected to register the highest CAGR of 15.27% during the forecast period 2022-2032.

Recent Developments in Global Targeted Sequencing Market

• In August 2022, QIAGEN N.V. launched its QIAseq targeted DNA pro panels and the QIAseq UPXome RNA library kit as an expansion of its next-generation sequencing (NGS) portfolio. Both these launches lead to the growth of the company's sequencing product portfolio.
• In September 2022, BGI Group (MGI Tech Co., Ltd.) launched its DNBSEQ-G99, which is a mid to low-range throughput sequencer. This makes this sequencer especially suitable for targeted gene sequencing, small gene sequencing, and high and rapid-quality data output.
• In June 2022, Agilent Technologies, Inc. announced its collaboration with the Amazon Elastic Compute Cloud (Amazon EC2) G5g powered by Amazon Web Services (AWS) Graviton2 processors. The NVIDIA T4G Tensor Core GPUs, combined with NVIDIA Clara Parabricks' advanced genomics capabilities, improved Agilent Technologies, Inc.'s cloud-native Alissa Reporter software. This collaboration is expected to streamline the company's SureSelect family NGS assays, which comprise a wide range of custom and catalog panels.
• In June 2022, Danaher. (Integrated DNA Technologies, Inc.) made an agreement with Beckman Coulter, Inc. Life Sciences for the distribution of its Biomek NGenius Next Generation Sequencing Library Prep System. This deal helped make high-performance NGS solutions more accessible to laboratories.

Demand – Drivers and Limitations

Following are the demand drivers for the global targeted sequencing market:

• Rising Need for Sequencing at Greater Depth
• Lower Cost and Data Burden of Targeted Sequencing When Compared to Whole Genome Sequencing
• Increase in Cancer Prevalence

The market is expected to face some limitations too due to the following challenges:

• Lack of Knowledge About New Genes and Biomarkers
• Lack of High Complexity Genomic Testing Centers in High Potential Markets

How can this report add value to an organization?

Product/Innovation Strategy: The report considers both products and services-based companies. The industry is seeing constant development and product launches with new and innovative upgrades. Additionally, new discoveries of specific biomarkers related to various diseases are increasing researchers' trust in targeted sequencing.

Growth/Marketing Strategy: The key components in targeted sequencing are the target capture methods and various disease panels. The advancements in target capture methods like hybridization capture are reducing the cost and increasing the efficiency of this technique. Additionally, the discovery of biomarkers and other genes for various diseases is helping panel manufacturers curate precise kits and assays for targeted sequencing of specific disease types.

Competitive Strategy: The key players in the global targeted sequencing market have been analyzed and profiled in the study, consisting of both product-based and service-based companies, as well as a few emerging companies. Moreover, a detailed competitive benchmarking of the players operating in the global targeted sequencing market has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.

Key Market Players and Competition Synopsis

The companies that are profiled have been selected based on inputs gathered from primary experts, analyzing company coverage, product portfolio, and market penetration.

The top segment players leading the market include targeted sequencing instruments, kits/panels and assays, services, and other product types providers. Targeted sequencing instrument providers constitute around 10.20% of the presence in the market, kits/panels and assays constitute 24.81% of the market, services providers constitute about 58.53% of the market, and other product types constitute 6.47% of the targeted sequencing market.

Key Companies Profiled

• Agilent Technologies, Inc.
• Azenta US, Inc. (GENEWIZ)
• BGI Group (MGI Tech Co., Ltd.)
• CD Genomics
• Daicel Corporation (Daicel Arbor Biosciences)
• Danaher. (Integrated DNA Technologies, Inc.)
• F. Hoffmann-La Roche Ltd
• Illumina, Inc.
• LGC Limited (LGC Biosearch Technologies)
• PacBio.
• PerkinElmer Inc.
• Psomagen
• QIAGEN N.V.
• Takara Bio Inc.
• Tecan Trading AG
• Thermo Fisher Scientific Inc.
• Twist Bioscience.

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