New York, USA, Nov. 29, 2022 (GLOBE NEWSWIRE) -- Next Generation Sequencing Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), Next Generation Sequencing Market Information By Technology, Workflow, Application, End User And Region - Forecast till 2030", the market is expected to increase value of USD 10300 million during the projected quarters of 2022-2030. The market is estimated to grow at 11.5% CAGR by 2030..
Market Synopsis
Next-generation sequencing is a method for determining the precise arrangement of nucleotides within a DNA molecule. Rapid sequencing is possible with next-generation sequencing, which generates one million DNA and RNA sequences. High throughput sequencing is next-generation sequencing. Next-generation sequencing can be used to determine the nucleotide sequence in the entire genome. Scalability, extremely high throughput, and quick speed are all made possible by this massively parallel sequencing technique. One of the crucial steps in the sequencing process is DNA pre-sequencing, which also involves getting the materials ready for the subsequent sequencing reaction. NGS is gradually being incorporated into clinical laboratory testing, analysis, and disease diagnosis. NGS has been widely used in pharmacogenomics to hasten the drug discovery process.
Genome mapping initiatives, next-generation sequencing applications, healthcare spending, and technological improvements in sequencing platforms all contribute to the growth of the global market for next-generation sequencing. Many nations have engaged in their overall population genome mapping initiatives to understand the relationship between heredity and disease better. Government organizations are also sequencing millions of genomes to advance science and find new ways to diagnose and treat diseases, including cancer, rare disorders, and other afflictions. Additionally, the demand for next-generation sequencing is rising as more researchers and pharmaceutical companies turn to this approach to learn more about the genetic organization of numerous organisms.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 10,300 Million |
| CAGR | 11.5% |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Technology, Workflow, Application and End User |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Rising technological advancements, increasing applications of NGS and growth in genome mapping programs. |
| Increasing demand for personalized medicine and high growth in the development of companion diagnostics |
Next Generation Sequencing Market Competitive Landscape:
The foremost contenders in the next-generation sequencing market are:
- Qiagen
- Eagle Genomics
- Advaita Bioinformatics
- Roche
- Biomatters
- Illumina
- Congenica
- DNAnexus
- Dovetail Genomics
- Edge Biosystems
Next Generation Sequencing Market Dynamics:
Market Drivers:
Next-generation sequencing platforms have advanced thanks to the integration of top-tier technology, which has fueled the industry's overall expansion. Recent innovations have brought appealing characteristics to the market, such as improved portability, versatility, and ease of use. NGS is gradually included in testing, clinical laboratory analysis, and illness diagnosis. Pharmacogenomics has extensively used NGS to speed up the drug discovery process. A growing population, rising cancer, communicable disease occurrences, and increased use of next-generation sequencing in oncology and transmissible illnesses are all predicted to drive the market for next-generation sequencing.
In the upcoming years, it is anticipated that increased demand for next-generation sequencing will result from applying this technology in the genetically tailored medicine development process. The usage of NGS technologies is anticipated to increase during the projection period due to a few benefits provided by NGS, including cost-effectiveness, rapid and precise sample analysis, and technological developments. Additionally, the next-generation sequencing industry is anticipated to gain from the growth of genomics projects in several nations.
Market Restraints:
During the projection period, it is anticipated that a lack of specialists with the necessary skills and NGS-related ethical and legal restrictions will hinder market expansion. However, some of the difficulties facing the worldwide industry for next-generation sequencing include storing and handling the massive amounts of data created by sequencing and its interpretation.
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COVID 19 Analysis
Globally significant businesses have expanded their capacities for research and development. The development of the COVID-19 vaccine was given much attention, creating a lucrative potential for using NGS during the pandemic. A favorable environment for market expansion is also anticipated to be provided by factors like the widespread use of NGS technologies in clinical diagnostics because of their quick turnaround times and expedited processing throughout the forecast period. Growing technological advancements in NGS instruments and technologies are also anticipated to contribute to a sizable market size increase in the following years.
The market participants acknowledged the need for continuous supply and research efforts and expanded their market investments. As a result, the pandemic has accelerated the expansion of the Next Generation Sequencing industry. NGS technology is essential in establishing the genetic sequence of the Coronavirus, which will aid researchers in understanding how the virus may mutate in the future. Throughout the pandemic, the function of next-generation sequencing was given the appropriate priority.
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Next Generation Sequencing Market Segmentation
Based on technology, the market includes ion semiconductor sequencing (IOS), single-molecule real-time sequencing (SMRT), sequencing by synthesis (SBS), and nanopore sequencing.
Based on type, the market includes degradome sequencing, ribosome profiling, targeted sequencing services, exome sequencing services, chip sequencing service, RNA sequencing services, de novo sequencing services, whole-genome sequencing, methyl sequencing, and amplicon sequencing.
Based on end-user, the market includes pharmaceutical & biotechnology companies, hospitals & clinics, and academics & research institutes. Based on application, the market includes diagnostics, biomarker discovery, agriculture & animal research, and drug discovery.
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Next Generation Sequencing Market Regional Insights
The NGS market was led by North America, which also contributed the biggest revenue share. Numerous clinical laboratories that use NGS to deliver genetic testing services are what is driving the regional market. Furthermore, the development of WGS in the region is anticipated to play a crucial role in the market growth in North America throughout the projected period due to significant R&D investment and the availability of a technologically sophisticated healthcare research framework.
The market in Asia-Pacific is anticipated to expand quickly over the forecast period due to significant technological advancements made by China and Japan in NGS methodologies. Additionally, the advancement of healthcare, R&D, and clinical development structures in emerging economies like India and Australia has positioned the region's NGS market to benefit from lucrative growth opportunities.
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