The global Next Generation Sequencing market worth US$ 57.71 Mn by 2030, growing at a CAGR of 4.3%
Reducing NGS capital cost associated with declining sequencing cost, developments in NGS platforms and developing scenario of reimbursement and regulatory for diagnostic tests based on NGS are projected to fuel the next-generation sequencing market growth. Industry of next-generation sequencing is a market that contains infinite companies present in the production of consumables & kits, instruments and advancement of software to foster the NGS market growth in the coming years.
In addition, the usage of the cloud computing in NGS for the management of data in evolving economies are projected to offer opportunities to the manufacturers of next generation sequencing in the coming future. Developments of technology in cloud computing and data integration, demand for clinical diagnostic and increase in demand for scientific research are the factors that are responsible for the growth of global next generation sequencing market. In addition, growing acceptance of next generation sequencing technology in several end-users and increasing funds in the activities of research & development is boosting the growth of next-generation sequencing market. Moreover, developing applications of NGS in personalized medicine and food testing is anticipated to drive the next generation sequencing market growth in the coming years. Although, scarcity of the skilled professionals are hindering the next generation sequencing market growth.
Legal and ethical discussions are the part of medical research. Journals and funding agencies are submitting the genomic data from the research contributors to the databases are allowing the investigators for controlling the data. The samples and data are sent from databases without the approval of participant by pushing them at risk. Unidirectional flow of data are creating the sense of distrust and exploitation. As a result, ethical and legal issues are hampering the next generation sequencing market growth.
Development of next generation sequencing market is accredited to the significant reduction in the costs of sequencing. For instance, price of sequencing in 2006 was approximately $15 Billion, which ultimately reduced to $6000 Billion in 2014. Several key players like Illumina and Roche have announced the techniques of sequencing which have decreased the cost related to sequencing.
Growing attention of NGS is projected to fuel the usage of precision medicine in oncology on the basis of research setting to the clinical cancer is increasing the growth of global next generation sequencing industry. Market players are involved in studying the novel and existing tests to create the criteria for medical necessity for medical and clinical policies. Global next generation sequencing market trends are developed understanding of the genetic markers of resistance and virulence offered by next generation sequencing is estimated to boost the demand for the technology of diagnosing the infectious disease.
Global next generation sequencing market are end-user, application, technology, product & service and region. On considering the end-user, market is divided into biotechnology & pharmaceutical companies, clinics & hospitals, academic institutes and research centers and more. On the basis of application, market is divided into animal & agricultural research, drug discovery, other diagnostic applications, reproductive health diagnostics, infectious disease diagnostics, cancer diagnostics, diagnostics and much more. Based on technology, market is divided into nanopore sequencing, single-molecule real time sequencing, ion semiconductor sequencing, sequencing by synthesis and more. By product & service, market is divided into bioinformatics, sequencing services, services for NGS platforms, NGS platforms, NGS consumables and pre-sequencing products and services. Bioinformatics further subdivided into NGS storage management & cloud computing solutions, NGS data analysis services and NGS data analysis workbenches & software whereas sequencing services are divided into De Novo and Whole genome sequencing, RNA sequencing, Custom Panels and Exome and Targeted Sequencing. NGS platforms are further sub-divided into Oxford Nanopore Technologies, Pacific Biosciences, ThermoFishcer Scientific, Illumina and others. Pre-sequencing products & services market is divided into quality control, target enrichment & library preparation, size selection, A-tailing, End Repair and DNA fragmentation.
Geographically, regions involved in the global next-generation sequencing (NGS) market analysis are Europe, North America, Asia Pacific and Rest of the World. North America holds the largest global next generation sequencing market share followed by Europe. Asia Pacific is expected to rapidly grow in the coming years.
Key players involved in the next generation sequencing market are Agilent Technologies, New England Biolabs, Oxford Nanopore Technolgies Limited, Thermo Fischer Scientific and more.
Next Generation Sequencing Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||US$ 57.71 Mn|
|Growth Rate||CAGR of 4.3 % during 2022-2030|
|Segment Covered||by Technology, by Application, by End User, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||Thermo Fisher Scientific Inc., Agilent Technologies, Inc, bioMérieux SA, F. Hoffmann-La Roche Ltd , QIAGEN, Illumina, Inc., Oxford Nanopore Technologies plc., BGI, PerkinElmer Genomics, and Pierian|
Key Segments in the “Global Next Generation Sequencing Market” are-
By End-User, market is segmented into:
- Biotechnology & pharmaceutical companies
- Clinics & hospitals
- Academic institutes and research centers
By Application, market is segmented into:
- Animal & agricultural research
- Drug discovery
- Other diagnostic applications
- Reproductive health diagnostics
- Infectious disease diagnostics
- Cancer diagnostics
By Technology, market is segmented into:
- Nanopore sequencing
- Single-molecule real time sequencing
- Ion semiconductor sequencing
- Sequencing by synthesis
By Product & Service, market is segmented into:
- NGS storage management & cloud computing solutions
- NGS data analysis services
- NGS data analysis workbenches & software
- Sequencing services
- De Novo and Whole genome sequencing
- RNA sequencing
- Custom Panels
- Exome and Targeted Sequencing
- Services for NGS platforms
- NGS platforms
- Oxford Nanopore Technologies
- Pacific Biosciences
- ThermoFishcer Scientific
- NGS consumables
- Pre-sequencing products and services
- Quality control
- Target enrichment & library preparation
- Size selection
- End Repair and DNA fragmentation.
By Regions market is segmented into:
- North America
- Asia Pacific
- Rest Of The World