Dublin, March 01, 2024 (GLOBE NEWSWIRE) -- The "Next Generation Sequencing Services Market by Type (Targeted, RNA, De Novo, WES, WGS), Technology (Sequencing by Synthesis, Ion Semiconductor, SMRT, Nanopore), Application (Research, Clinical [Oncology, Reproductive]), End User - Global Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The next generation sequencing services market is expected to grow at a CAGR of 19.9% from 2023 to 2030 to reach $20.39 billion by 2030
The growth of this market is mainly attributed to the reduced cost of NGS procedures, the development and approval of new targeted therapies, the rising prevalence of cancer, partnerships between NGS service providers and pharmaceutical companies, the high cost of sequencing infrastructure, and technological advancements in NGS. In addition, advancements in sequencing data analytics and the increasing applications of NGS in cancer and agri-genomics research are expected to offer significant growth opportunities for NGS service providers.
However, the availability of alternative technologies, lack of skilled professionals for sample preparation and analysis, and actionable mutations for precision medicine may restrain the growth of the NGS services market. Moreover, regulatory & standardization concerns in diagnostic testing and the ethical issues & costs related to non-invasive prenatal genetic testing are major challenges to the growth of this market.
Based on type, the global NGS services market is segmented into targeted sequencing services, whole-genome sequencing services, RNA sequencing services, exome sequencing services, de novo sequencing services, ChIP sequencing services, methyl sequencing services, and other NGS services.
In 2023, the targeted sequencing services segment is estimated to account for the largest share of the global NGS services market. The large share of this segment can be attributed to the relatively lower cost, faster turnaround time, and accurate, easy-to-interpret results of targeted sequencing in the study of disease-related genes.
Based on technology, the global NGS services market is segmented into sequencing by synthesis, ion semiconductor sequencing, single-molecule real-time sequencing, nanopore sequencing, and DNA nanoball sequencing.
In 2023, the sequencing by synthesis segment is estimated to account for the largest share of the global NGS services market. The large share of this segment is attributed to its highest yield of error-free throughput, base call value above Q30, and higher accuracy in DNA sequencing compared to other sequencing technologies available in the market.
Based on application, the global NGS services market is segmented into research applications and clinical applications.
In 2023, the research applications segment is estimated to account for the largest share of the global NGS services market. This segment's large share is mainly attributed to the increasing demand for gene-based medicines, growing investments in drug research and development activities, and increasing research programs for personalized medicine.
Based on end user, the global NGS services market is segmented into hospitals & clinics, pharmaceutical & biotechnology companies, academic institutes & research centers, and other end users.
In 2023, the hospitals & clinics segment is estimated to account for the largest share of the global NGS services market. The largest share of this segment is attributed to factors such as high capital requirements for building in-house NGS capabilities in hospitals & clinics, the rising prevalence of cancer and other chronic diseases, the growing demand for advanced medical treatments, and the rising number of biomarker-based therapies.
North America is expected to command the largest share of the global next generation sequencing services market in 2023, followed by Europe and Asia-Pacific.
Industry & Technology Trends
- Installation of In-house NGS Systems to Hinder Market Growth
- Growing Utilization of NGS Services in Disease Diagnostics and Precision Medicine
Competition Analysis
- Overview
- Key Growth Strategies
- Competitive Benchmarking
- Market Share Analysis (2022)
- Eurofins Scientific S.E.
- Illumina, Inc.
- Foundation Medicine, Inc. (Subsidiary of F. Hoffmann-La Roche AG) (U.S.)
- Invitae Corporation (U.S.)
- Beijing Genomics Institute (BGI) (China)
- Novogene Co., Ltd. (China)
- Perkinelmer, Inc. (U.S.)
Company Profiles
- Illumina Inc. (U.S.)
- QIAGEN N.V. (Netherlands)
- PerkinElmer Inc. (U.S.)
- Eurofins Scientific S.E. (Luxembourg)
- Macrogen Inc. (South Korea)
- LGC Limited (U.K.)
- GENEWIZ Inc. (U.S.)
- Beijing Genomics Institute (China)
- MedGenome Inc. (U.S.)
- DNA Link Inc. (South Korea)
- Novogene Co. Ltd. (China)
- CD Genomics (U.S.)
- SeqLL Inc. (U.S.)
- Otogenetics Corporation (U.S.)
- Foundation Medicine Inc. (U.S.)
- Quest Diagnostics Incorporated (U.S.)
- Invitae Corporation (U.S.).
Scope of the Report
Next Generation Sequencing Services Market Assessment-by Type
- Targeted Sequencing Services
- RNA Sequencing Services
- De Novo Sequencing Services
- Exome Sequencing Services
- Chip Sequencing Services
- Whole Genome Sequencing Services
- Methyl Sequencing Services
- Other Services
Next Generation Sequencing Services Market Assessment-Technology
- Sequencing By Synthesis
- Ion Semiconductor Sequencing
- Single-molecule Real-time Sequencing
- Nanopore Sequencing
- DNA Nanoball Sequencing
Next generation Sequencing Services Market Assessment-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)
Next Generation Sequencing Services Market Assessment-by End User
- Hospitals & Diagnostic Laboratories
- Pharmaceutical & Biotechnology Companies
- Academic Institutes & Research Centers
- Other End Users
Next Generation Sequencing Services Market Assessment-by Geography
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe (RoE)
- Asia-Pacific (APAC)
- China
- Japan
- China
- India
- Rest of Asia Pacific (RoAPAC)
- Latin America
- Middle East & Africa
For more information about this report visit https://www.researchandmarkets.com/r/avoztr
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