London, June 23, 2020 (GLOBE NEWSWIRE) -- The NGS services market is expected to reach $13.1 billion by 2025, growing at a CAGR of 20.5% during the forecast period of 2019 to 2025.
The field of genomics has surpassed expectations over the past three decades due to massive changes in technology that allowed researchers to interrogate larger pieces of the human genome. The NGS technology has potential to become ultimate genotyping platform for human identification. The capability of NGS led its application as forensic markers, such as short tandem repeats (STR) and mitochondrial and Y-chromosome haplotypes. The rapidly decreasing cost of sequencing per base in conjunction with the introduction of cost-effective benchtop laboratory sequencers has sparked growing demand in the field of personalized medicine for the incorporation of discrete NGS data within the clinical arena. By lowering costs and enabling the production of scientifically useful quantities of DNA sequence data in manageable timeframes, next generation sequencing technologies are helping organizations fully realize the promise of genomics and sequencing. Numerous collaborative projects and consortia have emerged to understand the structure of genomes in more detail; catalog genetic variation; and identify the genetic causes of disease across animal, plant, and microbial species. These efforts have the potential to revolutionize how we understand and treat disease. Despite the fact that NGS platforms are still technically maturing, the technology has progressively found multiple applications in clinical molecular laboratory, driven by the growing interest of physicians, pathologists, molecular biologists, scientists, and clinical administrators.
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Various factors such as plummeting cost of NGS sequencing procedures, technological advancements in NGS sequencing, growing number of genome mapping programs, and high cost of sequencing infrastructure are expected to boost the demand for NGS services across the globe. However, lack of skilled professionals for efficient NGS sample preparation and analysis, and emerging trend of installation of in-house sequencing facilities in large scale hospitals and academic universities obstruct the growth of this market to some extent. Also, accuracy & standardization concerns in diagnostic testing, and ethical issues related to Non-Invasive Prenatal Testing (NIPT) are the major challenging factors observed in this market.
The global NGS services market is segmented based on service type, technology, application, end user, and geography.
The targeted sequencing service type dominated the overall NGS services market in 2019 and is also estimated to continue its dominance over the forecast period. Targeted sequencing allows researchers to focus on the subset of genes or region; which reduces the time consumed for sequencing, the cost of sequencing, and simplifies data analysis.
Based on technology, the NGS services market is mainly segmented into sequencing by synthesis, ion semiconductor sequencing, single molecule real time sequencing, nanopore sequencing, and true single molecule sequencing. The sequencing by synthesis (SBS) segment held the largest share of the overall NGS services market in 2019, owing to the technologically advanced SBS platforms and decreasing cost of sequencing.
On the basis of application, the NGS services market is segmented into diagnostics, drug discovery, biomarker discovery, agriculture and animal research, and others. Out of these applications, diagnostics segment accounted for the largest share of the overall NGS services market in 2019, owing to the growing use of NGS technologies in early diagnosis of various chronic and infectious diseases across the globe.
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Based on end user, the NGS services market is segmented into hospitals &clinics, academic & research institutes, pharmaceuticals and biotechnology industry, and other end users. The hospitals & clinics segment held the largest share of the overall NGS services market in 2019. The largest share of this segment is accounted to the factors, such as rising number of chronic diseases, growing demand for advanced medical treatments, and high cost of NGS instruments limiting their adoption among hospitals and clinics.
Geographically, the global NGS services market is segmented into five regions, namely, North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa with a further analysis of major countries in these regions. North America accounted for the largest share of the global NGS services market in 2019, followed by Europe and Asia-Pacific region. The largest share of the North American region is mainly attributed to the increasing burden of chronic and infectious diseases, increasing R&D expenditure, and various government initiatives supporting genomics research in the region. On the other hand, Asia-Pacific region is projected to grow at the highest CAGR during the forecast period. This growth is attributed to growing prevalence of genetic diseases, growing R&D expenditure, favourable government initiatives for genomic research, growing investments in healthcare infrastructure, and increasing investments by the major players in this region.
Some of the key players operating in the global NGS services market are Illumina, Inc. (U.S.), Qiagen N.V. (Netherlands), PerkinElmer, Inc. (U.S.), Eurofins Scientific SE (Luxembourg), Macrogen, Inc. (South Korea), Genotypic Technology Pvt. Ltd. (India), GENEWIZ, Inc. (U.S.), Beijing Genomics Institute (BGI) (China), SciGenom Labs Pvt. Ltd. (India), MedGenomeInc. (U.S.), DNA Link, Inc. (South Korea), Otogenetics Corporation (U.S.), Novogene Corporation (China), LGC Limited (U.K.), CD Genomics (U.S.), and SeqLL, Inc. (U.S.) among others.
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Scope of the Report:
Next-Generation Sequencing Services Market, by Service Type
- Targeted Sequencing
- RNA Sequencing
- Exome Sequencing
- De Novo Sequencing
- ChIP-Sequencing
- Methyl Sequencing
- Whole Genome Sequencing
- Other Services
Next-Generation Sequencing Services Market, by Technology
- Sequencing by Synthesis (SBS)
- Ion Semiconductor Sequencing (IOS)
- Single Molecule Real Time Sequencing (SMRT)
- Nanopore Sequencing
- True Single Molecule Sequencing (tSMS)
Next-Generation Sequencing Services Market, by Application
- Diagnostics
- Drug Discovery
- Biomarker Discovery
- Agriculture & Animal Research
- Other Applications
Next-Generation Sequencing Services Market, by End User
- Hospitals & Clinics
- Pharmaceuticals & Biotechnology Industry
- Academics & Research Institutes
- Other End Users
Next-Generation Sequencing Services Market, by Geography
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe (RoE)
- Asia-Pacific (APAC)
- Japan
- China
- India
- Rest of Asia-Pacific (RoAPAC)
- Latin America
- Middle East & Africa
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