Redding, California, July 06, 2023 (GLOBE NEWSWIRE) -- According to a new market research report, “Next Generation Sequencing (NGS) Market by Offering (Kits [Library Prep, QC, DNA Extraction], System) Type (Genome, Exome, Targeted) Application (Reproductive, Oncology, Infectious) Technology (SBS, Nanopore, Nanoball, SMRT Seq) – Global Forecast to 2030”, published by Meticulous Research®, the global NGS market is expected to reach $27.5 billion at a CAGR of 15.8% from 2023 to 2030.
Next Generation Sequencing (NGS) is a technology used to sequence the orientation of nucleotides in genetic material. This technology has enabled the sequencing of DNA or RNA more quickly and at a lower cost than Sanger sequencing. Continuous developments in NGS technology are revolutionizing the field of personalized medicine, genetic diseases, and clinical diagnostics by providing the capability to sequence multiple individuals with variable genetic orientations simultaneously.
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The growth of the NGS market is mainly attributed to increasing cancer prevalence & increasing application of NGS in cancer treatment and research, declining cost of genome sequencing, technological advancements in sequencing procedures, increasing pharmaceutical R&D expenditure, a surge in genome mapping programs, and improvements in regulatory and reimbursement scenarios for NGS–based diagnostic tests. However, the high costs of NGS systems and associated consumables, availability of alternative technologies, low chances of identifying positive, actionable mutations for precision medicine, and ethical & legal issues related to NGS–based diagnosis are restraining the growth of this market to a certain extent.
Increasing applications of NGS, rising adoption of bioinformatics and genomic data management solutions, and government initiatives for large-scale genomic sequencing projects are opportunities leading to the market's growth. However, the lack of skilled professionals and regulatory & standardization concerns in diagnostic testing are challenges to the growth of the NGS market. Also, partnerships and collaborations by manufacturers to expand and improve product offerings, development of portable sequencing technologies, and increasing demand for NGS automation workstations are technological trends in the NGS market.
Increasing Applications of Next Generation Sequencing Technology is Expected to Create Significant Opportunity for the NGS Market
NGS technology has revolutionized genetic disease diagnostics with rapid, high-throughput, and cost-effective approaches. NGS technology can simultaneously analyze hundreds of genes, the whole exome, and even the whole genome, enabling researchers to understand the genetic heterogeneity of rare diseases. It can also allow for understanding unknown species and complex diseases. In recent years, technology has gained much traction in diagnosing infectious, immunological, and hereditary diseases. It is also widely used for non-invasive prenatal diagnosis and therapeutic decision-making for somatic cancers.
Next-generation sequencing (NGS) technologies, including DNA and RNA sequencing, provide ‘omics’ approaches to understanding individual cancers' genomic, transcriptomic, and epigenomic landscapes. NGS has great potential to enhance cancer diagnosis and care. With the use of NGS technology, various genomic aberrations can be screened simultaneously, such as common and rare variants, structural variations (e.g., insertions and deletions), copy-number variations, and fusion transcripts.
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Additionally, NGS testing is increasingly being used for companion diagnostics. With the increasing prevalence of cancer, precision or personalized medicine is gaining traction in oncology, and developing effective therapies is becoming critical for researchers. Precision medicine is used to treat certain tumors to help determine which tests and treatments are the most effective. These medicines are sometimes used for individuals with certain cancers or at a higher risk of getting specific cancers. Precision medicine for cancer uses the unique genetic makeup of an individual patient and genetic information from the patient’s tumors to discover and determine an appropriate and effective course of treatment.
NGS has gained much significance in clinical practice for oncology, reproductive health, Mendelian diseases, complex diseases, and infectious diseases. In the coming years, NGS is expected to diversify in other clinical areas, with a considerable reduction in sequencing costs. The technology is expected to show substantial penetration in applications such as liquid biopsies for the early detection and monitoring of cancer and reproductive health applications.
In addition, technological advancements in the field are expected to drive the development of faster, more accurate and portable NGS systems, which will expand applications in medical, agricultural, ecological, and other field-based settings. Advancements in sample preparation, liquid handling, bioinformatics, robotics, and miniaturization would help facilitate this process. Thus, the increasing applications of NGS technology are expected to create growth opportunities for the NGS market.
The report also includes an extensive assessment of the key strategic developments adopted by leading market participants in the industry over the past years (2020–2023). The key players operating in the global NGS market are Illumina, Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), F. Hoffmann-La Roche Ltd. (Switzerland), PerkinElmer, Inc. (U.S.), Qiagen N.V. (Netherlands), Agilent Technologies, Inc. (U.S.), Pacific Biosciences of California, Inc. (U.S.), Danaher Corporation (U.S.), Bio-Rad Laboratories, Inc. (U.S.), Oxford Nanopore Technologies Plc. (U.K.), 10X Genomics, Inc. (U.S.), and Beijing Genomics Institute (BGI) (China).
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The global NGS market study presents historical market data in terms of values (2021 and 2022), estimated current data (2023), and forecasts for 2030. NGS Market by Offering, (Consumables [Sample Preparation Consumables {DNA Extraction and Amplification, Library Preparation & Target Enrichment, Quality Control}, Other Consumables], NGS Platforms/Instruments, Software, Services), Sequencing Type (Targeted Genome Sequencing, Whole Genome Sequencing, Whole Exome Sequencing, Other Sequencing Types), Technology (Sequencing by Synthesis, Ion Semiconductor Sequencing, Single-molecule Real-time Sequencing (SMRT), Nanopore Sequencing, DNA Nanoball Sequencing), Applications (Clinical Applications [Reproductive Health, Oncology, Infectious Diseases, Other Clinical Applications], Research and Other Applications [Drug Discovery, Agriculture & Animal Research, Other Research Applications), End User (Hospitals and Diagnostic Laboratories, Pharmaceutical & Biotechnology Companies, Academic Institutes & Research Centers, Other End Users), and Geography. The study also evaluates industry competitors and analyzes their market share at the global and regional levels.
Based on offering, in 2023, the consumables segment is estimated to account for the largest share of the NGS market. High demand for consumables for sequencing procedures, increasing genome mapping programs, declining cost of genome sequencing, and rising demand among healthcare professionals for conducting NGS-based diagnostic treatment are some factors leading to the largest share of the segment.
Based on sequencing type, in 2023, the targeted genome sequencing segment is estimated to account for the largest share of the NGS market, by sequencing type. Targeted sequencing eliminates the generation of redundant and irrelevant genetic variation, which can cloud or distract from actual clinical interpretation. Furthermore, targeted sequencing reduces the cost of sequencing significantly as compared to WGS and WES when sequencing of a large population is required. Additionally, targeted sequencing has been proven to successfully identify primary immunodeficiencies and specific gene-associated diseases. These factors are leading to the largest share of the segment.
Based on technology, the sequencing by synthesis (SBS) technology is estimated to account for the largest share of the NGS market in 2023. Sequencing by synthesis technology enables fast and accurate large-scale sequencing by using properties of four fluorescently labeled nucleotides to sequence the tens of millions of clusters on the flow cell surface in parallel. Also, SBS sequencing is widely used in transcriptomics, genomics, and epigenomics. Also, increasing applications of this technology is expected to support the segment growth.
Based on application, the research and other applications segment is estimated to account for the largest share of the global NGS market in 2023. The growing prevalence of genetic disorders, the increasing adoption of sequencing for genome research projects, the growing demand for personalized medicines, and the enhanced value of NGS due to its high precision and accuracy is increasing its adoption by pharmaceutical and biotechnology companies are factors contributing to the significant market share of this segment.
Based on end user, the pharmaceutical & biotechnology companies’ end-user segment is estimated to account for the largest share of the global NGS market in 2023. Increasing NGS research in pharmaceutical & biotechnology companies, declining costs of NGS systems, and increasing demand for precision medicine support the largest share.
Based on geography, in 2023, North America is estimated to account for the largest share of the global NGS market, by geography. The factors driving the demand for NGS in North America are high healthcare expenditure, increasing genome mapping programs in the region, and the presence of leading NGS players. Well-established healthcare infrastructure and government initiatives for NGS-based testing contribute to the large share of the regional market.
However, Asia-Pacific is slated to register the highest CAGR during the forecast period primarily due to the population’s rising income, the increasing healthcare expenditure, rising R&D costs by pharmaceutical and biotechnology companies, increased investment to enhance the accessibility of healthcare services, rise in genome mapping projects and increasing healthcare infrastructure, and drug discovery programs.
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Scope of the Report:
NGS Market Assessment, By Offering
- Consumables
- Sample Preparation Consumables
- DNA Extraction and Amplification
- Library Preparation & Target Enrichment
- Quality Control
- Other Consumables
- NGS Platforms/Instruments
- Software
- Services
(Other consumables include vials, pipettes, containers, trays, sequencing reagents, flow cells, and tubes)
NGS Market Assessment, by Sequencing Type
- Targeted Genome Sequencing
- Whole Genome Sequencing
- Whole Exome Sequencing
- Other Sequencing Types
(Other sequencing Types include degradome sequencing, chromatin immunoprecipitation (ChIP) sequencing, and methylation sequencing)
NGS Market Assessment, by Technology
- Sequencing by Synthesis
- Ion Semiconductor Sequencing
- Single-molecule Real-time Sequencing (SMRT)
- Nanopore Sequencing
- DNA nanoball sequencing
(Other sequencing technologies include polony sequencing, sequencing by ligation, pyrosequencing, and true single molecule sequencing (tSMS))
NGS Market Assessment, by Application
- Research Applications
- Drug Discovery
- Agriculture & Animal Research
- Other Research Applications
- Clinical Applications
- Reproductive Health Diagnosis
- Oncology
- Infectious Diseases
- Other Clinical Applications
(Other research applications include food microbiology, microbiota analysis in the beverage industry, and environmental studies, and other clinical applications include the detection of genetic aberrations in neurological disorders, rare diseases, metabolic and immune disorders, and food-borne illnesses)
NGS Market Assessment, by End User
- Hospitals and Diagnostic Laboratories
- Pharmaceutical & Biotechnology Companies
- Academic Institutes & Research Centers
- Other End Users
(Other end users include forensic laboratories & security agencies, food & beverage companies, and agriculture companies)
NGS Market Assessment, by Geography
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Rest of Europe (RoE)
- Asia-Pacific (APAC)
- China
- Japan
- India
- Rest of Asia-Pacific (RoAPAC)
- Latin America
- Brazil
- Mexico
- Rest of Latin America (RoLATAM)
- Middle East & Africa
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