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BCC Research Identifies Fast Growing Biotech Markets
Date:11/15/2013

Wellesley, Mass (PRWEB) November 15, 2013

In 2005, the launch of next-generation sequencing technologies radically changed the structure of the biotechnology industry. Since then, the costs of sequencing have rapidly reduced to the point where it is now feasible for complex NGS tests to be priced in the range of other multiplex genetic tests and pave the way for new opportunities in clinical applications.

BCC Research (http://www.bccresearch.com) in its technical market research report, Next Generation Sequencing: Emerging Clinical Applications and Global Markets (BIO126A) states the NGS clinical market as still relatively young and emerging, with great commercial promise. According to the report, the rapid decline in sequencing costs will enable NGS informatics (i.e., the handling and interpretation of massive amounts of genetic data) to emerge as a key focus area for clinical applications in the foreseeable future. BCC Research projects the market to reach nearly $7.6 billion by 2018, and register a five-year compound annual growth rate (CAGR) of 71.6% for the period 2013 to 2018, making it the top biotech sector with the highest CAGR across the global biotechnology market.

In addition to the NGS technologies market, BCC Research anticipates biochip-based products, use of lab-on-a-chip format in point of care applications, and the central nervous system biomarkers market to impact everything from drug development to diagnostics. A shift in focus from R&D-related tools to clinical applications that are accurate, easy to use, low cost, and suitable for automation is expected to drive tremendous growth in these markets over the next five years.

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