USD 4.16 billion
Report ID: SQSG35A2092 | Region: Global | Published Date: April, 2023 | Pages: 157 | Tables: 152 | Figures: 78
Global Next-Generation Sequencing Services Market size was valued at USD 4.16 billion in 2021 and is poised to grow from USD 7.31 billion in 2022 to USD 24.5 billion by 2030, growing at a CAGR of 22.56% in the forecast period (2023-2030).
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.
Global Market Size
USD 4.16 billion
Universities & Other Research Entities
Hospitals & Clinics
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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.
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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.
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Next-Generation Sequencing Services Market Driver
Next-Generation Sequencing Services Market Restraint
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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
Next-Generation Sequencing Services Market Recent Developments
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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.
|Market size value in 2021||USD 4.16 billion|
|Market size value in 2030||USD 7.31 billion|
|Forecast Unit (Value)||USD Billion|
|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)|
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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.
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