USD 7.82 billion
Next Generation Sequencing (NGS) Market Size, Share, Growth Analysis, By Product & Service(Consumables, Services, Pre-Sequencing Products, Platforms, Bioinformatics, Others), Technology(SBS, Ion Semiconductor, Nanopore, SMRT Sequencing), Application, End User, and Region - Industry Forecast 2024-2031
Report ID:
SQMIG35D2046 |
Region:
Global |
Published Date: June, 2024
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 2022 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 employs massive parallelism in sequencing millions or even billions of DNA strands. This method is also known as high throughput sequencing. NGS is less dependent on fragment-cloning strategies that are used in Sanger genome sequencing. The advantages of NGS over Sanger’s sequencing method include low cost, high accuracy and speed, precise results even if small amounts of samples are used. Thus, NGS is widely used in biomarker discovery, cancer studies, personalized medicine, agriculture and animal studies, etc.
Genome sequencing has also been applied to understanding how Covid-19 spreads and can inform how interventions affect disease progression and subsequent treatments. The Covid-19 Genomics U.K. Consortium (COG-U.K.) was set up in March 2020, to utilize Whole-Genome Sequencing to investigate the coronavirus genome. Partners in the cooperation are the Welcome Sanger Institute, the NHS, Public Health Agencies, and other academic institutions. These organizations have collaborated on mapping the virus’s evolution and spread.
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
Largest Segment
Instruments
Fastest Growth
Instruments
Growth Rate
18.5% CAGR
Global Next Generation Sequencing Market ($ Bn)
Country Share for North America Region (%)
To get more reports on the above market click here to Buy The Report
Next Generation Sequencing Market Segmental Analysis
The next generation sequencing market is segmented into Product and Service, Technology, Application, End User and region. Based on the Product & Service, the market is segmented into NGS Consumables, Sequencing Services (Exome & Targeted Resequencing and Custom Panels, RNA Sequencing, DE NOVO Sequencing, Chip Sequencing, Whole-genome sequencing, MethYl Sequencing, Other Sequencing Services), Pre-sequencing Products & Services (Library Preparation And Target Enrichment, Quality Control), NGS Platforms (Illumina [NovaSeq Systems, Nextseq Systems, Miseq Systems, iSeq 100 Systems, Miniseq Systems], Thermo Fisher Scientific, Oxford Nanopore Technologies, Pacific Biosciences, Other NGS Platforms), Bioinformatics (NGS Data Analysis Services, NGS Data Analysis Software and Workbenches, NGS Storage, Management, And Cloud Computing Solutions), Services for NGS Platforms. Based on the Technology, the market is segmented into Sequencing by Synthesis, Ion Semiconductor Sequencing, Nanopore Sequencing, Single-molecule Real-time Sequencing, and Other Sequencing Technologies. Based on Application, the market is segmented into Diagnostics (Cancer Diagnostics, Infectious Disease Diagnostics, Reproductive Health Diagnostics, Other Diagnostic Applications, Drug Discovery And Development (Pharmacogenomics, Other Drug Discovery And Development Applications), Agricultural And Animal Research, Other Applications. Based on the End-user, the market is segmented into Academic Institutes And Research Centers, Pharmaceutical And Biotechnology Companies, Hospitals And Clinics, Reference Laboratories, and Other End Users. Based on region, the market is segmented into North America, Europe, Asia-Pacific, South America, and Middle East and Africa.
Analysis by Technology
Sequencing by synthesis is the leading segment in the NGS market since they are highly accurate, easily scalable and relatively affordable. SBS technology is the most common method for platforms like Illumina’s sequencing systems. SBS is used for different purposes and is considered the best method for whole genome sequencing, exome sequencing, and RNA sequencing. It has further increased its dominance through constant innovation and application in clinical and research realms which has led to increased market share.
The nanopore sequencing segment is expected to grow at the highest CAGR in the NGS market. These features include real-time sequencing, longer read length and portability, which makes this technology highly adaptable to various applications including field samples and even point of care. Such companies as Oxford Nanopore Technologies are currently active in this segment and are constantly developing and improving the technology.
Analysis by End-User
Academic institutes and research centers represent the dominant segment in the next-generation sequencing (NGS) market. They are some of the biggest NGS consumers for research, genomics, and large population sequencing projects. In particular, the increased governmental funding for academic research projects as well as the team-based nature of scientific work leads to high demand for NGS platforms. This segment relies on government aid and institutional funding, and therefore constitutes the largest share of the market regarding its revenue and usage.
The pharmaceutical and biotechnology industry is considered the most dynamic segment of the NGS market. The use of Next Generation Sequencing in drug discovery, development and new therapies including personalized medicine is on the rise due to the need for specificity in the development of related therapeutic intervention. These companies use it for biomarker identification, companion diagnostic tests and clinical research, which is helping in the growth of this segment. Due to the functionality of NGS to reduce the time for the development of new drugs and treatments, along with investments in biotechnology, this segment is poised to grow at the highest rate in the foreseeable future.
Global Next Generation Sequencing Market By Technology (%)
To get detailed analysis on other segments, Request For Free Sample Report
Next Generation Sequencing Market Regional Insights
North America is anticipated to dominate this market in 2023 with its highest market share among other regions. The main driving force for the regional market is the presence of various next generation sequencing players and clinical laboratories that utilize next generation sequencing to perform genetic testing in the region. Apart from this, the introduction of new products by key players and technological improvements in the currently available products will also benefit the regional industry in the forecast period.
In addition, Asia-Pacific is expected to have a market share in the communications software market during the forecast period respectively. The growth of the market in the region can be attributed to the various key players operating in the region for offering services like digital PCR solutions, and next-generation sequencing like BGI Genomics, NGS service providers are – First BASE Laboratories Sdn Bhd, Macrogen Asia-Pacific Pte Ltd. and more. These main players have a broad portfolio that can satisfy almost every need of the consumer. Therefore, this plays a role in the growth of the market in the regional context in the anticipated forecast period.
Global Next Generation Sequencing Market By Region
- Largest
- Fastest
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Next Generation Sequencing Market Dynamics
Next Generation Sequencing Market Driver
Technological Innovations in Sequencing Platforms
- Developing new and innovative technologies has seen the emergence of NGS that is faster, movable and easy to use. Such advancement would facilitate faster and accurate analysis, including substantially shorter turnaround time. Thus, gaining such technological advancements offer competitive advantage to firms, enhance high-rate investment in research and innovation, and consequently boost the market.
Rising Demand for Personalized Medicine
- A grand reason contributing to the growth of NGS is the current global trend towards scalability and personalized medicine systems. Next-generation sequencing (NGS) platforms allow for extensive, accurate characterization of genetic data, contributing to enhancements in precise drug treatments and accurate treatment regimens. As this need for accurate diagnostic and therapeutic approaches expands for precision medicine, more NGS platforms are adopted, and new developments are encouraged within the industry.
Restraints
High Cost of NGS Technology
- One of the moderating factors in the market is the high cost of next generation sequencing technology. Although costs are lower now than when sequencing was first introduced, the costs related to equipment used in the process, chemicals, and data process are still steep. These costs can be initiated as a real problem for small-research oriented institutions and development regions, and may well act as a restraint to market development.
Data Management and Interpretation Challenges
- Next-generation sequencing creates a massive number of data, which presents major challenges in store requirement, data handling, and analysis. It is for this reason that managing and analyzing such vast volumes of data entails advanced and specialized bioinformatics tools and skills which may not always be available within the organization. These factors can help impact research and development time, increase operating cost within the development cycle, and limit the market potential.
Request Free Customization of this report to help us to meet your business objectives.
Next Generation Sequencing Market Competitive Landscape
The market is fragmented in nature. The prominent players operating in the market are always adopting various growth strategies to stay afloat in the market. Product launches, innovations, mergers & 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 to supply industries with the most efficient and cost-effective solutions.
Next Generation Sequencing Market Top Player's Company Profiles
- Illumina Inc. (US)
- Thermo Fisher Scientific, Inc. (US)
- PerkinElmer Inc. (US)
- BGI Group (China)
- Agilent Technologies Inc. (US)
- Eurofins Scientific SE (Luxembourg)
- Pacific Biosciences of California Inc. (US)
- Oxford Nanopore Technologies (UK)
- QIAGEN NV (Netherlands)
- F. Hoffmann-La Roche AG (Switzerland)
- GENEWIZ Inc. (US)
- Psomagen, Inc. (South Korea)
- 10x Genomics Inc. (US)
- Takara Bio (Japan)
- Zymo Research (US)
- NuGen Technologies (US)
- Hamilton Company (US)
- Beckman Coulter (US)
- Becton, Dickinson, and Company (US)
- Lucigen Corporation (US)
- Novogene Co., Ltd. (China)
Next Generation Sequencing Market Recent Developments
-
In December 2023, marked the official release of TurBOT beta access with Oxford Nanopore collaborating with Tecan. The buyers are expected to receive the products by first quarter of the year 2024. The potential of the TurBOT is the availability of basecalling, data analysis, sample preparation as well as automated extraction of multiple samples in a single instrument.
-
In December 2023, Illumina inked an MoU with African Society for Laboratory Medicine with the aims of deploy genomics in the region of Africa to combat infectious diseases.
-
In April 2024, in LAUSANNE, Switzerland – NewBiologix technology innovation company, focused on addressing the issues in gene therapy production, has released its new platform for NGS and optical mapping. This integrated set of services is expected to offer the biopharmaceutical industry a convenient and efficient solution for genomic analyses.
Next Generation Sequencing Key Market Trends
- Expanding Applications and Advancements in NGS Technology: It was witnessed that high and low throughput research uses NGS and going to high because of more simplicity, continuously dropping prices and strengthening of bioinformatics services. The use of NGS-based testing system is gradually expanding toward different clinical fields, such as oncology, reproductive health, and genetics. Companies and organizations do not relent; they seek improvement and advancement, like in the case of the RNA-sequencing, which seeks to cover a wide range of scientific and clinical areas.
- Addressing Heterogeneity in Genetic Analysis: Modern approaches of genetic analysis, for example based on molecular markers, mainly utilize “average measurements” based on heterogeneous populations. The new developments in technology allow for analysis of samples at the single-cell level eliminating heterogeneity as a confounding factor. This progress enables the researchers to paint a clearer picture in revealing the processes governing life, greatly enhancing the quality and level of genetic research.
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.
Based on our study, out of the segment of sequencing, WGS is expected to exhibit a high market dominance rate soon. Out of all the types of products, the reagents and consumables are expected to dominate the market for the given time frame. However, within the end-user spectrum, the academic institutes and research center segment is expected to show the strongest market dominance in the GNGS industry throughout the forecast period.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | 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 |
|
| 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 | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
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
- Exhibit: Impact analysis of DROC, 2021
- 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
- Exhibit: Impact analysis of DROC, 2021
- 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
- Competitive rivalry
- 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(%)
- Total number of companies covered
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.
Next Generation Sequencing Market Report Snapshots
Want to customize this report?
Our industry expert will work with you to provide you with customized data in a short amount of time.
REQUEST FREE CUSTOMIZATION
USA (+1) 351-333-4748
