Global Next Generation Sequencing Market

Next Generation Sequencing Market Size, Share, Growth Analysis, By Type of Sequencing(Whole Genome Sequencing, Targeted Resequencing), By Product Type(Instruments, Reagents), By End User(Hospitals, Healthcare Institutions) - Industry Forecast 2024-2031


Report ID: SQMIG35D2046 | Region: Global | Published Date: July, 2001
Pages: 157 | Tables: 98 | Figures: 76

Next Generation Sequencing Market Insights

Global Next Generation Sequencing Market size was valued at USD 7.82 billion in 2019 and is poised to grow from USD 9.27 billion in 2023 to USD 36.04 billion by 2031, growing at a CAGR of 18.5% in the forecast period (2024-2031).

Next Generation Sequencing is a technique that uses enormous parallelization to sequence millions or billions of DNA strands. High throughput sequencing is another name for this method. NGS reduces the need for fragment-cloning procedures like those employed in Sanger genome sequencing. The primary benefits of NGS over Sanger's sequencing approach include cheap cost, great accuracy and speed, and exact findings even with minimal sample input. NGS is utilized in a variety of applications, including biomarker identification, cancer investigations, customized medicine, agricultural and animal research, and so on.

Genome sequencing has also been used to study the spread of Covid-19, and it has the potential to help researchers better understand the impact of interventions and guide future treatments. The Covid-19 Genomics U.K. Consortium (COG-U.K.) was established in March 2020 to use Whole-Genome Sequencing to examine the coronavirus genome (WGS). The Wellcome Sanger Institute, the NHS, Public Health Agencies, and other academic institutions are all part of the cooperation. These organizations have worked together to map the virus's evolution and transmission.

US Next Generation Sequencing Market is poised to grow at a sustainable CAGR for the next forecast year.

Market snapshot - 2024-2031

Global Market Size

USD 7.82 billion

Largest Segment

Instruments

Fastest Growth

Instruments

Growth Rate

18.5% CAGR

Global Next Generation Sequencing Market ($ Bn)
Country Share for North America Region (%)
Global Next Generation Sequencing Market By Product Type ($ Bn)
Global Next Generation Sequencing Market By Product Type (%)

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Next Generation Sequencing Market Segmental Analysis

Next Generation Sequencing Market is segmented on the basis of type of sequencing, product type, end-user, and region. Based on the type of sequencing, the Next Generation Sequencing Market is segmented into Whole Genome Sequencing, Targeted Resequencing, Whole Exome Sequencing, RNA Sequencing, Chip Sequencing, De Novo Sequencing, and Methyl Sequencing. Based on the product type, the Next Generation Sequencing Market is segmented into instruments, reagents & consumables, and services. Based on the end-user, the Next Generation Sequencing Market is segmented into hospitals and healthcare institutions, academic institutes and research centers, and pharmaceutical and biotechnology companies. Based on region, the Next Generation Sequencing Market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.

Next Generation Sequencing Market Analysis by Type of Sequencing

In 2021, the whole genome sequencing segment of the market is projected to hold the most lucrative share of more than 30% of the market. Whole-genome sequencing (WGS) has gained widespread acceptance as a means of obtaining the highest possible resolution information regarding COVID-19, and it is thought to have the potential to revolutionize COVID-19 infectious disease management. For example, the UK government started the "COVID-19 Genomics UK Consortium (COG-UK)" in early 2020 to sequence the genomes of SARS-CoV-2, the virus that is causing the current COVID-19 epidemic. The NHS (National Health Service), public health organizations, the Wellcome Sanger Institute, and numerous university institutions make up the "COVID-19 Genomics UK Consortium (COG-UK)," which aids in the creation of funding and the development of diagnoses and treatments.

Next Generation Sequencing Market Analysis by Product Type

In 2021, the reagents and consumables segment of the market is projected to hold the most lucrative share of more than 30% of the market. The reagents and consumables segment is further classified into sample preparation consumables and other consumables. The sample preparation consumables include DNA fragmentation, end-repair, A-Tailing & size selection, library preparation & target enrichment, and quality control. Such a wide range of products and instruments in the reagents and consumables segment is projected to contribute to the segmental growth of the market during the forecast period.

Next Generation Sequencing Market Analysis by End-User

In 2021, the academic institutes and research centers segment of the market is projected to hold the most lucrative share of more than 30% in the market. The segmental growth of the market is contributed to the increasing number of collaborations and partnerships between next generation sequencing market players and academic institutes & research centers. Furthermore, scholarships offered for Ph.D. projects in next generation sequencing are expected to further drive demand for next generation sequencing products and services, thereby resulting in lucrative growth in the upcoming years.

Global Next Generation Sequencing Market By Product Type, 2019 (%)

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Next Generation Sequencing Market Regional Insights

The global next generation sequencing market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. In 2021, the North American region is projected to hold the most substantial share of the market. The regional market is likely to be driven by the presence of various next generation sequencing players and clinical laboratories that use next generation sequencing to offer genetic testing services in the region. Besides, the launch of various novel products along with the upgradations in the existing products by the key players are also likely to aid the regional industry growth during the forecast period.

Further, the Asia-Pacific region is also likely to hold a significant share in the market during the forecast period. The regional growth of the market is attributed to the presence of various local and regional players in the region such as BGI Genomics, and NGS service providers including First BASE Laboratories Sdn Bhd, Macrogen Asia Pacific Pte Ltd., and others. These key players offer a wide range of portfolio to the consumers that serves almost every application. Thus, this contributes to the regional growth of the market during the forecast period.

Global Next Generation Sequencing Market By Region, 2024-2031
  • Largest
  • Fastest

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Next Generation Sequencing Market Dynamics

Next Generation Sequencing Market Driver

  • The key factor that drives the industry growth includes the advancements in the next generation platforms. Continuous technological advancements in sequencers have enabled the development of efficient, portable, and simple-to-use NGS platforms that can deliver fast and precise results while also reducing turnaround times. The introduction of such products and the technology that support them gives players an immediate competitive advantage; as a result, major corporations companies are increasingly focused on product research and development to increase their market positions and share. Hence, this contributes to the growth of the market during the forecast period.

Next Generation Sequencing Market Opportunity

  • Government and private funding for large-scale sequencing provide a massive opportunity for the Next-generation Sequencing (NGS) Market. To better understand the link between genetics and disease, many countries are investing in their national population sequencing programs. Millions of genomes are being sequenced by government groups in order to progress research and discover better ways to identify and cure cancer, uncommon disorders, and other ailments. As a result, given the large-scale deployment of NGS devices and the utilization of consumables necessary in such endeavors, big sequencing projects are projected to create lucrative growth prospects for market players.

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Next Generation Sequencing Market Competitive Landscape

The market is fragmented in nature. The prominent players operating in the market are constantly adopting various growth strategies in order to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D in order to supply industries with the most efficient and cost-effective solutions.

Next Generation Sequencing Market Top Player's Company Profiles

Next Generation Sequencing Market Recent Developments

  • In May 2022, Genes2Me released a number of NGS-based panels for oncology, personalized medicine, and hereditary illnesses. These panels have been designed and validated for all common Illumina, Thermo Fisher ION, and MGI NGS platforms.
  • In March 2022, In Europe, Illumina, a DNA sequencing company, introduced a novel in vitro diagnostic test to evaluate various cancer mutations and assist patients to find tailored therapy.

Next Generation Sequencing Key Market Trends

  • NGS usage will broaden at both the high- and low-throughput sides of the research industry, owing to workflow simplicity, ongoing cost reductions (for both instruments and reagents), and improved bioinformatics capabilities. NGS-based testing is also being more widely used in clinical sectors, including cancer, reproductive health, and genetics. In this context, many firms are continuing to develop (for example, long-read RNA-sequencing technologies), expanding both the scientific and clinical application areas.
  • The majority of genetic analysis now suffers from “average measurements.” The sample is usually broken down, the DNA extracted and separated, and analytical measures are taken across various populations (e.g., heterogeneous cells, heterogeneous molecular makeups) in the sample. A variety of technological advancements may enable researchers to investigate biology at the single-cell level, removing the problem of heterogeneity.
  • Clinical genomics will dramatically enhance the overall diagnostic paradigm for reproductive health. To examine more than 250 hereditary illnesses, genetic testing will begin with carrier screening of the mother and father. It will include in vitro fertilization (IVF), with embryos being tested for disease inheritance. In addition, women will be tested for hereditary illnesses while still in the womb (e.g., microdeletions). Trio testing, which involves evaluating the mother, father, and kid, might offer much more information on real inheritance patterns and illness predispositions.

Next Generation Sequencing Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research. SQ identified the key dominating segments of the market by offerings and verticals.

According to our analysis, among the type of sequencing, the WGS segment is projected to hold a dominating share during the period. Among the product type, the reagents and consumables segment is projected to hold a dominating share during the period. While, among the end-user, the academic institutes and research center segment is projected to hold the most dominating share in the global next generation sequencing industry during the forecast period.

Report Metric Details
Market size value in 2019 USD 7.82 billion
Market size value in 2031 USD 36.04 billion
Growth Rate 18.5%
Base year 2023
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Type of Sequencing
    • Whole Genome Sequencing, Targeted Resequencing, Whole Exome Sequencing, RNA Sequencing, Chip Sequencing, De Novo Sequencing, Methyl Sequencing
  • Product Type
    • Instruments, Reagents, Consumables, Services
  • End User
    • Hospitals, Healthcare Institutions, Academic Institutes, Research Centers, Pharmaceutical, Biotechnology Companies
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
Customization scope

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Next Generation Sequencing Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Next Generation Sequencing Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Next Generation Sequencing Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Next Generation Sequencing Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Next Generation Sequencing Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Next Generation Sequencing Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Global Next Generation Sequencing Market size was valued at USD 7.82 billion in 2019 and is poised to grow from USD 9.27 billion in 2023 to USD 36.04 billion by 2031, growing at a CAGR of 18.5% in the forecast period (2024-2031).

The market is fragmented in nature. The prominent players operating in the market are constantly adopting various growth strategies in order to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D in order to supply industries with the most efficient and cost-effective solutions. 'Illumina, Inc.', 'Thermo Fisher Scientific, Inc.', 'BGI Group', 'Qiagen N.V.', 'F. Hoffmann-La Roche AG', 'Pacific Biosciences of California, Inc.', 'Oxford Nanopore Technologies Ltd.', 'Agilent Technologies, Inc.', 'PerkinElmer, Inc.', 'Eurofins Scientific', 'GENEWIZ', 'Macrogen, Inc.', 'Beijing Genomics Institute (BGI) Americas Corporation', 'Partek Inc.', 'Genotypic Technology Pvt Ltd', 'Bio-Rad Laboratories, Inc.', 'Fluidigm Corporation', '10x Genomics, Inc.', 'NuGEN Technologies, Inc.', 'Dovetail Genomics, LLC'

The key factor that drives the industry growth includes the advancements in the next generation platforms. Continuous technological advancements in sequencers have enabled the development of efficient, portable, and simple-to-use NGS platforms that can deliver fast and precise results while also reducing turnaround times. The introduction of such products and the technology that support them gives players an immediate competitive advantage; as a result, major corporations companies are increasingly focused on product research and development to increase their market positions and share. Hence, this contributes to the growth of the market during the forecast period.

NGS usage will broaden at both the high- and low-throughput sides of the research industry, owing to workflow simplicity, ongoing cost reductions (for both instruments and reagents), and improved bioinformatics capabilities. NGS-based testing is also being more widely used in clinical sectors, including cancer, reproductive health, and genetics. In this context, many firms are continuing to develop (for example, long-read RNA-sequencing technologies), expanding both the scientific and clinical application areas.

The global next generation sequencing market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. In 2021, the North American region is projected to hold the most substantial share of the market. The regional market is likely to be driven by the presence of various next generation sequencing players and clinical laboratories that use next generation sequencing to offer genetic testing services in the region. Besides, the launch of various novel products along with the upgradations in the existing products by the key players are also likely to aid the regional industry growth during the forecast period.

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