USD 4.16 billion
Global Next-Generation Sequencing Services Market Size, Share, Growth Analysis, By Service type(Human Genome Sequencing, Single Cell Sequencing), By Workflow(Pre-sequencing, Sequencing), By Technology(Sequencing By Synthesis (SBS), Ion Semiconductor Sequencing (IOS)), By Application(Diagnostics, Drug Discovery), By End User(Universities & Other Research Entities, Hospitals & Clinics) - Industry Forecast 2024-2031
Report ID:
SQSG35A2092 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
152 |
Figures:
78
Global Next-Generation Sequencing Services Market Insights
Global Next-Generation Sequencing Services Market size was valued at USD 4.16 billion in 2019 and is poised to grow from USD 7.31 billion in 2023 to USD 24.5 billion by 2031, growing at a CAGR of 22.56% in the forecast period (2024-2031).
Next-generation sequencing (NGS), also referred to as massively parallel sequencing (MPS) is used to refer to a DNA sequencing technology that has greatly benefited the disciplines of biotechnology, medical diagnosis, forensic biology, biological systematics, and virology. Clinical research, basic research, and applied science have all transformed as a result of the development of NGS. With the next-generation sequencing technology, a full human genome can be sequenced in a lot less time than with the older Sanger sequencing technology. The order of nucleotides throughout the genome can be determined quickly, scalable, and with a very high throughput. DNA pre-sequencing is one of the most crucial steps in the entire sequencing methodology since it includes preparing the material for the subsequent sequencing reaction. NGS is increasingly being used in clinical laboratory analysis, testing, and illness diagnosis across the globe. The drug discovery process in pharmacogenomic is frequently accelerated using next-generation sequencing (NGS).
The identification of biomarkers for early diagnosis and individualised treatments is made possible by next-generation sequencing, which has had a substantial impact on the shift from the traditional medical model of diagnosis to a precision medicine model. Although Next Generation Sequencing is a relatively new technology, it has already made major contributions to molecular biology, genetics, and the disciplines of personalised medicine, hereditary illnesses, and clinical diagnostics.
US Next-Generation Sequencing Services Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Universities & Other Research Entities
Fastest Growth
Hospitals & Clinics
Growth Rate
22.56% CAGR
Global Next-Generation Sequencing Services Market, 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
Global Next-Generation Sequencing Services Market Size By End Users, 2021-2028 ($ Bn)
Global Next-Generation Sequencing Services Market Size By End Users, 2021-2028 (%)
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Global Next-Generation Sequencing Services Market Segmental Analysis
Global Next-Generation Sequencing (NGS) Services Market is segmented based on the service type, workflow, technology, application, end user, and region. Based on service type, the Next-Generation Sequencing Services Market is segmented into Human Genome Sequencing, Single Cell Sequencing, Microbial Genome-based Sequencing, Gene Regulation Services, Animal & Plant Sequencing and other Sequencing Services. Based on workflow, Next-Generation Sequencing Services Market is segmented into Pre-sequencing, Sequencing and Data Analysis. Based on technology, the Next-Generation Sequencing Services Market is segmented into Sequencing By Synthesis (SBS), Ion Semiconductor Sequencing (IOS), Single-molecule Real-time Sequencing (SMRT), Nanopore Sequencing and others. On the basis of application, the Next-Generation Sequencing Services Market is sub segmented Diagnostics, Drug Discovery, Biomarker Discovery, Agriculture & Animal Research and other Applications. According to end users Next-Generation Sequencing Services Market is divided into Universities & Other Research Entities, Hospitals & Clinics, Pharma & Biotech Entities and others. Based on Region, it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Next-Generation Sequencing Services Market Analysis by Service Type
Human genome sequencing segment dominated the market with an approximate revenue share of 30% globally in 2021. It is the segment that is offered and used the most. The segment's expansion is being aided by the presence of numerous important players in this market. The companies involved in this market category are BGI-Complete Genomics, Veritas Genetics, Macrogen, Full genomes.com, Novogene, SureGenomics, Partners LMM, Genos, BGI, 14 labs, Gene-by-Gene, and Personalis.
The gene regulation services segment is expected to show a substantial growth rate during the forecast period. It covers isoform sequencing, bisulfite sequencing, lncRNA seq, small RNA sequencing, and ChIP sequencing. RNA sequencing has replaced microarrays in many applications thanks to a number of benefits it offers. In the years to come, it's anticipated that RNA-seq's applications will increase, propelling the market at a breakneck speed.
Next-Generation Sequencing Services Market Analysis by End Use
Global next-generation sequencing services market was dominated by Universities and other research entities segment and held a large revenue share of approximately 50% in 2021. This can be attributed to the reality that research is the primary use of NGS. In order to enhance the results of their projects and get in-depth understanding of the mechanism of illness occurrence, research organisations are using sequencing services.
Hospitals and Clinics end user segment is expected to hold the largest growth rate during the forecast period owing to the increasing adoption of clinical NGS. The increasing use of NGS technology for prenatal diagnostic methods to identify foetal aneuploidies by analysing foetal cfDNA collected from a single maternal blood draw is indicative of this trend in clinical settings. Having an understanding of the underlying genomic and genetic elements of a disease can help in the development of a diagnostic plan. Counseling and patient treatment may also benefit from this knowledge. Therefore, to properly treat patients, the majority of medical professionals rely on NGS.
Global Next-Generation Sequencing Services Market By End Users, 2021 (%), 2023 (%)
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Global Next-Generation Sequencing Services Market Regional Insights
North America region held the largest Global next-generation sequencing services market share and accounted for approximately 45% revenue share during 2021 on account of features such a strong regulatory framework for the approval and use of genetic tests, an established informatics network, and the presence of market leaders in the area. Additionally, it is projected that the expanding number of FDA-approved genetic tests in the U.S. will fuel the local market throughout the course of the forecast period. Pharmaceutical businesses in North America are prioritising the introduction of comprehensive genome sequencing efforts, the establishment of reimbursement and regulatory guidelines for NGS-based diagnostic tools, and the creation of precision and personalised medicines.
Asia-Pacific region is anticipated to be the fastest-growing market for next-generation sequencing services during the forecast period. The next-generation sequencing market in China is booming as a result of the increased prevalence of particular diseases and the growing government support for the country's biotech sector. The increased focus of the major market players on supplying cutting-edge, efficient NGS technology to developing countries in order to address the demand for genomic therapies and whole-genome sequencing for individualised treatment is another factor driving the market expansion in this region. The national market for next-generation sequencing is anticipated to grow as a result of rising financing, increased government support, and strategic moves made by key industry participants.
Global Next-Generation Sequencing Services Market By Geography, 2021-2028, 2024-2031
- Largest
- Fastest
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Global Next-Generation Sequencing Services Market Dynamics
Next-Generation Sequencing Services Market Driver
- The market demand is being driven by advancements in clinical diagnosis. Forensics, reproductive health, individualised medicine, biomarkers, and diagnostics are just a few of the uses for next-generation sequencing. Due to the analytical accuracy, high throughput, and cost-effectiveness of next-generation sequencing (NGS), it has become the industry standard for clinical laboratories to use NGS for diagnosing genetic illnesses. So, a feasible alternative to treating rare disorders is genomic sequencing-based diagnosis.
- With time, the price of the next-generation sequencing technology is also falling, by a significant amount. Next-generation sequencing is getting more accessible and inexpensive as costs continue to fall, which is fueling industry expansion. The quantity and variety of library preparation options have increased in tandem with the evolution of next-generation sequencing, and as capacities increase, limits for sample preparation are also being pushed.
- The next-generation sequencing market is expected to grow as a result of an increase in the supply of trained workers for sample preparation. Furthermore, improvements in sequencing technologies are opening the door to new treatments for people with Mendelian disorders, cancer, and other conditions.
Next-Generation Sequencing Services Market Restraint
- Any type of DNA sequencing, including NGS, is subject to legal and ethical considerations. In addition to concerns unique to a particular culture and group, these issues also include identifiability, releasing study findings, stereotyping, the appropriateness of consent, stigmatisation, inclusion, and differential benefit. In essence, these moral concerns restrain market expansion.
- Furthermore, the main factors projected to restrain market expansion over the estimated period are the difficulty in setting up in-house throughput devices and the interpretation of complicated data from NGS platforms.
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Global Next-Generation Sequencing Services Market Competitive Landscape
Global Next-Generation Sequencing Services Market is highly fragmented due to presence of many prominent players. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. Key player includes Agilent Technologies, Inc., BGI Group, F. Hoffmann-La Roche AG, Illumina Inc and Precigen Inc. Prominent Players are spending more on R&D to create the technologically superior system that provides them an edge over rivals.
Next-Generation Sequencing Services Market Top Player's Company Profiles
- Eurofins scientific,
- Illumina, Inc.
- Thermo Fisher Scientific, Inc.
- Pacific Biosciences of California, Inc.
- BGI Group
- Qiagen N.V.
- Oxford Nanopore Technologies, Ltd.
- F. Hoffmann-La Roche Ltd.
- Becton, Dickinson and Company
- GENEWIZ, Inc.
- Perkinelmer Inc.
- Macrogen, Inc.
- Agilent Technologies, Inc.
- GATC Biotech AG
- Partek Incorporated
- PierianDx
- NantOmics, LLC
- 10x Genomics, Inc.
- GenScript Biotech Corporation
- DNASTAR, Inc.
Next-Generation Sequencing Services Market Recent Developments
- In October 2022, PathoQuest, a pioneer in the creation and delivery of Next Generation Sequencing (NGS) testing services for the biopharmaceutical sector, announced the official opening of its new facility in Wayne, Pennsylvania.
- In October 2022, MicrobioSeq, the microbial genomics subsidiary of CD Genomics announced the launch of the Phage Whole-Genome Sequencing Service. Phages are a group of viruses that attack bacteria, some of which have the ability to lyse the host bacteria and some of which have the capacity to give the genetic material of the host bacterium extra biological traits.
Global Next-Generation Sequencing Services Key Market Trends
- Clonal amplification would not be required with a new sequencing technology that does not employ the polymerase chain reaction (PCR) and instead uses single molecule sequencing and single real-time sequencing, thereby avoiding PCR-related mistakes. Third-generation sequencing equipment were created as a result of these desires following the emergence of next-generation technology. These are based on single-molecule sequencing and are capable of producing longer read lengths with less complex preparatory procedures. Examples include the SMRT (Single-Molecule Real-Time) DNA Sequencing Method, the FRET Sequencing Platform, and Nanopore Sequencing. Single molecule real-time sequencing (SMRT) is a platform that can produce read lengths of about a thousand bases using single molecule real-time sequencing. The FRET Sequencing platform makes use of a DNA polymerase modified with a quantum dot, base fluorescence tagging technology, and DNA template molecules mounted on a solid surface.
Global Next-Generation Sequencing Services 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 utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Global Next-Generation Sequencing Services Market analysis, the market expansion is primarily attributable to declining NGS procedure costs, the creation and acceptance of new targeted therapies, the rising incidence of cancer, collaborations between NGS service providers and pharmaceutical firms, the high cost of sequencing infrastructure, and NGS technological advancements. Additionally, NGS service providers are anticipated to benefit from significant growth prospects due to developments in sequencing data analytics and the expanding uses of NGS in cancer and agri-genomics research.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 4.16 billion |
| Market size value in 2031 | USD 24.5 billion |
| Growth Rate | 22.56% |
| 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:-
|
| Historical Year | 2019 |
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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 Global Next-Generation Sequencing Services 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 Global Next-Generation Sequencing Services 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 Global Next-Generation Sequencing Services 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 Global Next-Generation Sequencing Services 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 Global Next-Generation Sequencing Services Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Next-Generation Sequencing Services 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.
Global Next-Generation Sequencing Services Market Report Snapshots
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