Market Overview –
The next-generation sequencing (NGS) market focuses on providing advanced genomic analysis technologies that enable researchers to sequence and analyze DNA and RNA with unprecedented speed, accuracy, and throughput. NGS technologies have revolutionized genomic research, offering insights into genetic variations, gene expression patterns, and disease mechanisms.
The Next Generation Sequencing (NGS) Market is thriving with the widespread adoption of NGS DNA sequencing technologies. These advanced methods enable rapid and high-throughput sequencing of DNA, driving research and clinical applications. The market offers a range of platforms and services catering to diverse needs, from genomic analysis to personalized medicine, fueling its continuous growth and innovation.
Market growth is driven by several factors, including the increasing adoption of NGS in research and clinical diagnostics, growing demand for personalized medicine, and declining sequencing costs. As NGS becomes more accessible and affordable, there is a growing demand for sequencing services and platforms to support a wide range of applications, from basic research to clinical diagnostics.
Technological advancements and innovations in NGS platforms and bioinformatics tools are shaping the market, offering higher sequencing throughput, improved accuracy, and reduced turnaround times for genomic analysis. From sequencing instruments and reagents to data analysis software and cloud-based solutions, these advancements enhance researchers' ability to generate and interpret large-scale genomic data more efficiently.
Moreover, the expanding applications of NGS in areas such as cancer genomics, infectious disease surveillance, and prenatal screening are driving market growth, as researchers and healthcare providers seek to harness the power of genomics to improve patient care and outcomes. Additionally, the COVID-19 pandemic has accelerated the adoption of NGS technologies for viral genome sequencing and surveillance, highlighting the importance of genomics in understanding and controlling infectious diseases.
However, challenges such as data management, standardization, and regulatory compliance pose obstacles to market growth. Addressing these challenges requires collaboration between NGS technology providers, researchers, regulatory agencies, and healthcare stakeholders to develop standardized protocols, ensure data security, and establish quality assurance measures.
The Next Generation Sequencing Market Size was evaluated at USD 9.46 billion in 2021 and is expected to expand from USD 11.23 billion in 2022 to USD 44.24 billion by 2030, representing a compound yearly growth rate (CAGR) of 18.70% during the forecast period (2022- 2030).
Segmentation –
The global Next Generation Sequencing Market has been segmented based Technology, Workflow and end user.
The next generation sequencing market segmentation, based on technology, includes whole exome sequencing targeted sequencing and resequencing, and whole genome sequencing. Furthermore, targeted sequencing and resequencing bifurcated into DNA-based targeted sequencing & resequencing and RNA-based targeted sequencing & resequencing. The whole exome sequencing segment held the majority share in 2021 contribution to around ~40-42% in respect to the next generation revenue. This is owing to the technological advancements that allow for the rapid sequencing of large amounts of DNA.
The next generation sequencing market segmentation, based on workflow, includes pre-sequencing, sequencing, and data analysis. Furthermore, pre-sequencing has been segmented into NGS library preparation kits, NGS semi-automated library preparation kits, NGS automated library preparation kits, and clonal amplification moreover, data analysis further segmented by type into NGS primary data analysis, NGS secondary data analysis, and NGS tertiary data analysis. The pre-sequencing dominated the market in 2021 and is projected to be the faster-growing segment during the forecast period, 2022-2030. The sequencing is a critical step of the workflow and is a capital-intensive procedure that, in turn, accounts for a higher revenue generation. The last step in the next generation sequencing workflow is processing, analysis, and interpretation of the sequencing data generated.
Based on end user, the Next Generation Sequencing Market has been segmented into hospitals & clinics, diagnostic laboratories, pharmaceutical and biotechnology companies, and academic and research institutes. The diagnostic laboratories segment dominated the market in 2021, while academic & research institutes is projected to be the fastest-growing segment during the forecast period. There are two types of NGS tests for clinical diagnosis, namely, laboratory-developed tests (LDTs) and in-vitro diagnostics (IVDs). Adopting LDTs for routine clinical diagnostics requires ease of use for laboratories and quick turnaround to ensure timely decision-making by clinicians. Both IVDs and LDT are easily reproducible, attainable, reliable, and cost-effective results in the adoption of NGS technology.
Regional Analysis –
The next-generation sequencing (NGS) market displays distinct regional dynamics shaped by factors such as research funding, technological advancements, and regulatory frameworks. North America leads the market, driven by a robust biotechnology sector, extensive research activities, and supportive government initiatives.
The United States accounts for a significant share of NGS adoption, with academic institutions and biotech companies driving innovation. Europe follows closely behind, with countries like the UK, Germany, and France investing in genomic research and personalized medicine initiatives. In the Asia Pacific region, increasing investments in healthcare infrastructure and rising demand for precision medicine contribute to market growth, particularly in countries like China and Japan. Latin America and the Middle East & Africa regions also show potential for market expansion, albeit with challenges related to funding and infrastructure. Overall, the regional analysis underscores the importance of collaboration between industry stakeholders and policymakers to realize the full potential of NGS technologies in diverse healthcare settings.
Key Players –
Next-generation sequencing major players are Becton Eurofins Scientific based in the US, Illumina, Inc. from the US, Genome Life Sciences headquartered in India, GenScript based in the US, Thermo Fisher Scientific, Inc. also from the US, Qiagen headquartered in Germany, PerkinElmer, Inc. based in the US, F. Hoffmann-La Roche Ltd from Switzerland, Pacific Biosciences of California, Inc. headquartered in the US, Xcelris Genomics from India, along with other participants.
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