Redding, California, Sept. 01, 2021 (GLOBE NEWSWIRE) -- According to a new market research report titled “Next-generation Sequencing Services Market by Type (Targeted Sequencing, Exome, RNA-Seq, ChIP Sequencing), Technology (Sequencing by Synthesis, Nanopore, SMRT), Application (Clinical Diagnosis, Biomarker Discovery), & End User – Global Forecast to 2028”, published by Meticulous Research®, the next-generation sequencing services market is expected to grow at a CAGR of 20.4% from 2021 to 2028 to reach $14.1 billion by 2028.
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The growth of this market is mainly attributed to the reducing cost of NGS procedures, the development and approval of new targeted therapies, rising prevalence of cancer, partnerships between NGS service providers and pharmaceutical companies, 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 for the growth of this market.
Impact of COVID-19 Pandemic on the Next-generation Sequencing Services Market
The COVID-19 virus SARS-CoV-2 was quickly identified due to the power of next-generation sequencing. Advances in NGS allowed the sequencing of SARS-CoV-2 to be completed within hours. Information of the virus's genome sequence enabled the rapid development of diagnostic assays and other response tools. The monitoring of the disease's transmission, activity, and evolution was aided by continued genome sequencing.
Currently, the COVID-19 pandemic is still ongoing, with new viral variations emerging around the globe. The pandemic has highlighted the need to integrate genome sequencing into the practices of the global health community. Many countries are focused on the genomic sequencing of the COVID-19 virus. The sequencing data is important for studying and understanding viral mutations. The mutations occurring in the virus genome must be tracked, as they may reduce the efficacy of the current safety protocols, tests, vaccines, and clinical care. Hence, for the authorities to plan an accurate public health action, genome sequencing of the virus is very important. For instance, in February 2020, the Netherlands sequenced its first positive samples and initiated its public health action by analyzing genomic data. According to a McKinsey report, the U.S. sequenced around 200,000 of its COVID-19 cases, while the U.K. sequenced 350,000 cases.
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Furthermore, to enhance the genomic sequencing capabilities, the U.S. government allocated USD 1.7 billion to the CDC from the American Rescue Plan of 2021. Efforts are also being taken to sequence and analyze SARS-CoV-2 genomes by expanding the capacities of public health laboratories and establishing partnerships with academia and the private sector. The CDC has collaborated with several labs such as Laboratory Corporation of America Holdings (U.S.) and Quest Diagnostics (U.S.), as well as sequencing equipment manufacturers such as Illumina, Inc. (U.S.) to increase the country's sequencing capacity.
In August 2021, the Indian Ministry of Science and Technology announced a collaborative approach under the BRICS- multilateral research and development project. In this collaborative research, scientists from India, China, Russia, and Brazil will carry out the whole genome sequencing of SARS-CoV-2 and work on the epidemiology and mathematical modeling of the COVID-19 pandemic.
Furthermore, many NGS-based diagnostic tests were also developed. For instance, in June 2020, COVIDSeq, an NGS-based test from Illumina Inc. (U.S.), received emergency use authorization from the U.S. FDA for the qualitative detection and diagnosis of COVID-19. Similarly, NGS-based tests such as LamPORE by Oxford Nanopore Technologies Limited (U.K.) and SwabSeq by Octant, Inc. (U.S.) have been developed to diagnose COVID-19. NGS diagnostics are currently utilized in a relatively limited way, but they may become more frequently utilized in the future if they receive regulatory approvals from many countries and are demonstrated to be more effective than other testing methods.
There is a huge scope for the growth of the NGS services market as more countries implement sequencing programs to better understand emerging pathogens and their interactions with humans and animals.
NGS Services Market: Future Outlook
The global next-generation sequencing services market study presents historical market data on the basis of Type (Targeted Sequencing, RNA Sequencing Services, Exome Sequencing Services, De Novo Sequencing Services, Chip Sequencing Services, Whole Genome Sequencing, Methyl Sequencing, and Other Services), Technology (Sequencing By Synthesis, Ion Semiconductor Sequencing, Single-molecule Real-time Sequencing, Nanopore Sequencing, and Other Technologies), Application (Diagnostics, Drug Discovery, Biomarker Discovery, Agriculture & Animal Research, and Other Applications), End User (Hospitals & Clinics, Pharmaceutical & Biotechnology Companies, Academics & Research Institutes, and Other End Users), and Geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa). The study also evaluates industry competitors and analyzes their market share at the global and regional levels.
Based on type, the overall 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. The exome sequencing services segment is expected to grow at the highest CAGR during the forecast period. The advantages of exome sequencing, such as being a comparatively cost-effective alternative to whole-genome sequencing while achieving comprehensive coverage of coding regions, drive the growth of this market. Exomes are protein-coding genes estimated to encompass approximately 1% of the whole genome yet contain approximately 85% of disease-causing mutations. Exome sequencing involves only protein-coding regions of genomes. It consists of first selecting only the subset of DNA encodes proteins and then sequencing that DNA using any high-throughput DNA sequencing technology.
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Based on technology, the NGS services market is segmented into sequencing by synthesis (SBS), ion semiconductor sequencing (IOS), single-molecule real-time sequencing (SMRT), nanopore sequencing, and other NGS technologies. The single-molecule real-time sequencing segment is expected to grow at the highest CAGR during the forecast period. The ability of this technology to provide highly accurate long reads with single-molecule resolutions drives the growth of this segment. Single-molecule real-time (SMRT) sequencing technology is based on directly observing the synthesis of a single strand of DNA. SMRT sequencing not only reports which nucleotides the polymerase incorporates, but also records the polymerase kinetics.
Based on application, the NGS services market is segmented into biomarker discovery, diagnostics, drug discovery, agriculture & animal research, and other applications. The biomarker discovery segment is expected to grow at the highest CAGR during the forecast period. The advantages of NGS in discovering biomarkers, such as its high sensitivity and throughput and the rising importance of biomarker discovery in predicting and monitoring diseases, such as cancer and other chronic diseases, support the growth of this segment. Biomarkers are valuable for early diagnosis, prediction, and monitoring of the therapeutic efficacy of medicine and are particularly important in personalized medicine.
Based on end user, the NGS services market is segmented into hospitals & clinics, pharmaceutical & biotechnology companies, academic & research institutes, and other end users. In 2021, the hospitals & clinics segment is estimated to account for the largest share of the overall NGS services market. The large 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.
Geographically, the global NGS services market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2021, North America is estimated to account for the largest share of the global NGS services market. The large share of this region in the global NGS services market is primarily attributed to the presence of leading NGS service providers in the region, favorable government initiatives for genomics research, growing applications of NGS-based research, declining cost of sequencing coupled with the rising awareness of NGS, increasing research investments by pharmaceutical and biopharmaceutical companies, increasing cancer prevalence, and favorable reimbursement scenario in the region.
Key companies operating in the global next-generation sequencing services market are Illumina, Inc. (U.S.), QIAGEN N.V. (Netherland), PerkinElmer, Inc. (U.S.), Eurofins Scientific S.E. (Luxembourg), Macrogen, Inc. (South Korea), LGC Limited (U.K.), GENEWIZ, Inc. (U.S.), Beijing Genomics Institute (BGI) (China), SciGenom Labs Pvt. Ltd (India), MedGenome Inc. (U.S.), DNA Link, Inc. (South Korea), Otogenetics Corporation (U.S.), Novogene Co., Ltd. (China), CD Genomics (U.S.), Foundation Medicine, Inc. (U.S), and SeqLL, Inc. (U.S.) among others.
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Scope of the Report
Next-generation Sequencing Services Market, by Type
- Targeted Sequencing Services
- RNA Sequencing Services
- De Novo Sequencing Services
- Exome Sequencing Services
- Chip Sequencing Services
- Whole-genome Sequencing
- Methyl Sequencing
- Other Services
(Note – Other services include degradome sequencing, ribosome profiling, amplicon sequencing, CRISPR validation, viral genome sequencing, and immunogenomics services, among others)
Next-generation Sequencing Services Market, by Technology
- Sequencing By Synthesis (SBS)
- Ion Semiconductor Sequencing (IOS)
- Single-molecule Real-time Sequencing (SMRT)
- Nanopore Sequencing
- Other Technologies
(Note – Other technologies include polony sequencing, pyrosequencing, DNA nanoball sequencing, and True Single Molecule Sequencing)
Next-generation Sequencing Services Market, by Application
- Diagnostics
- Drug Discovery
- Biomarker Discovery
- Agriculture & Animal Research
- Other Applications
(Note – Other applications include outbreak surveillance testing, forensic genomics, and food microbiology, among others)
Next-generation Sequencing Services Market, by End User
- Hospitals & Clinics
- Pharmaceutical & Biotechnology Companies
- 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 APAC (RoAPAC)
- Latin America
- Middle East & Africa
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