Next Generation Sequencing Market

Analysis from GMI Research finds that the Next Generation Sequencing Market earned revenues of USD 12.1 billion in 2022 and estimated to touch USD 40.5 billion in 2030 will grow at a CAGR of 16.3% from 2023-2030

Next Generation Sequencing Market Overview

Next-generation sequencing (NGS) diagnostic technology has the potential advantage of determining the genetic sequence of a virus and helping scientists to understand the mutation of the virus. Massive parallel sequencing is any of several high-throughput approaches to DNA sequencing using the concept of massively parallel processing and is called next-generation sequencing or second-generation sequencing.

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Major Next Generation Sequencing Market Drivers

Increasing R&D activities for developing therapies used in treatment of genetic diseases is expected to raise the demand for next generation sequencing techniques over the forecast period. Governmental bodies of developed countries have strategically launched several favourable policies for encouraging scientists and researchers to find solutions for treating rare and chronic diseases. The NGS market analysis also represented that the U.S. government has funded several projects that focus primarily on detecting mutations in the genes of individuals. In such projects, researchers exhaustively utilize third generation sequencing technologies to develop novel therapies effective in treating genetic disorders. As a result, the rising R&D activities will fuel demand for NGS technologies, thereby, fostering the growth of the next generation sequencing market size.

The NGS market report states that the companies, such as ThermoFisher and Illumina, have also geared up to fight the COVID-19 with the help of sequencing. Illumina provides technological support to conduct track transmission and surveillance. The company also promises to develop vaccines and therapies to ensure long-term global security and safety.

Restraint in the Next-Generation Sequencing (NGS) Market

As per the next generation sequencing market report, the increasing concerns related to the levels of toxicity in pesticides and other health issues may hamper the growth of the global Next-Generation Sequencing (NGS) market share.

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Technology – Segment Analysis

Based on the technology, mechanical control services is expected to grow at a faster CAGR in the global next-generation sequencing (NGS) market during the forecast period owing to the harmful side effects related to the chemical next-generation sequencing (NGS) and less availability of resources for organic next-generation sequencing (NGS) across the globe.

End-Use – Segment Analysis

Based on the end-use, residential end-user is expected to grow at a higher CAGR in the global next-generation sequencing (NGS) market due to the rise in consumer awareness and urban lifestyle, along with the increased presence of pests in this area.

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Regional – Segment Analysis:

Based on the region, North America is expected to dominate the global next-generation sequencing (NGS) market over the forecast period. Favourable demographic trends such as the rising prevalence of chronic diseases and increasing number of millennials have positively influenced the demand for next generation sequencing. Moreover, positive regulatory scenario for next generation sequencing technologies will promote development in NGS instruments that will further fuel the regional growth. In addition, the development and launch of novel products by key companies in North America will boost the market growth. For instance, in August 2020, Quest Diagnostics officially launched Automated NGS Engine, a consumer genetics offering by Ancestry. The platform provides genetic screening of risks for blood disorders, colon cancer, breast cancer, and heart diseases. Thus, this factor is propelling the growth of the next generation sequencing market growth over the coming years.

Top Market Players

Various notable players operating in the market include Illumina, Inc., Thermo Fisher Scientific, Inc., BGI Group, PerkinElmer Inc., Agilent Technologies, Inc., QIAGEN, F. Hoffmann-La Roche Ltd, Genewiz, Biodesix, Inc., and Agendia, among others. 

Key Developments:

• • In 2019, Biodesix, Inc. and Thermo Fisher Scientific entered into a strategic agreement for providing next-generation sequencing assay. This agreement helped in expanding the product-portfolio of the company.

Segments covered in the Report:

The global next-generation sequencing (NGS) market has been segmented on the basis of technology, application, workflow, end-use, and regions. Based on technology, the market is segmented into targeted sequencing and resequencing. Based on application, the market is segmented into oncology, clinical investigation, reproductive health, HLA typing/ immune system monitoring and metagenomics, epidemiology and drug development. Based on workflow, the market is segmented into pre-sequencing, sequencing, and NGS data analysis. Based on end-use the market is segmented into academic research, clinical research, hospitals and clinics, pharma and biotech entities, and other users. 

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Report Coverage	Details
Market Revenues (2022)	USD 12.1 billion
Market Base Year	2022
Market Forecast Period	2023-2030
Base Year & Forecast Units	Revenues (USD billion)
Market Segment	By Technology, By Application, By Workflow, By End-Use, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Illumina, Inc., Thermo Fisher Scientific, Inc., BGI Group, PerkinElmer Inc., Agilent Technologies, Inc., QIAGEN, F. Hoffmann-La Roche Ltd, Genewiz, Biodesix, Inc., Agendia., among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Next-Generation Sequencing (NGS) Market by Technology

• • Targeted Sequencing
  • Resequencing

Global Next-Generation Sequencing (NGS) Market by Application

• • Oncology
  • Clinical Investigation
  • Reproductive Health
  • HLA Typing/ Immune System Monitoring
  • Metagenomics
  • Epidemiology
  • Drug Development

Global Next-Generation Sequencing (NGS) Market by Workflow

• • Pre-Sequencing
  • Sequencing
  • NGS Data Analysis

Global Next-Generation Sequencing (NGS) Market by End-Use

• • Academic Research
  • Clinical Research
  • Hospitals and Clinics
  • Pharma and Biotech Entities
  • Other Users

Global Next-Generation Sequencing (NGS) Market by Region

• • North America Next-Generation Sequencing (NGS) Market (Option 1: As a part of the free 25% customization)

    • By Technology
    • By Application
    • By Workflow
    • By End-Use
    • US Market All-Up
    • Canada Market All-Up

  • Europe Next-Generation Sequencing (NGS) Market (Option 2: As a part of the free 25% customization)

    • By Technology
    • By Application
    • By Workflow
    • By End-Use
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up

  • Asia-Pacific Next-Generation Sequencing (NGS) Market (Option 3: As a part of the free 25% customization)

    • By Technology
    • By Application
    • By Workflow
    • By End-Use
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up

  • RoW Next-Generation Sequencing (NGS) Market (Option 4: As a part of the free 25% customization)

    • By Technology
    • By Application
    • By Workflow
    • By End-Use
    • Brazil Market All-Up
    • South Africa  Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Next-Generation Sequencing (NGS) (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Illumina, Inc.
  • Thermo Fisher Scientific, Inc.
  • BGI Group
  • PerkinElmer Inc.
  • Agilent Technologies, Inc
  • QIAGEN
  • Hoffmann-La Roche Ltd.
  • Genewiz
  • Biodesix, Inc.
  • Agendia