New York, April 03, 2023 (GLOBE NEWSWIRE) -- The Global Next-Generation Sequencing Market size accounted for USD 7.6 billion in 2022 and growth is estimated to accelerate at a CAGR of 14.6%, registering an incremental revenue of USD 29.7 billion by 2032. The broad range of DNA sequencing techniques employed in genomic research is called “next-generation sequencing.” Next-generation sequencing (NGS), also called high-throughput sequencing, is a generic term used to define various recent sequencing techniques.
To get additional highlights on major revenue-generating segments, Request a Next-Generation Sequencing Market sample report at https://market.us/report/next-generation-sequencing-market/request-sample/
Key Takeaway:
- By Technology in 2022, the targeted sequencing segment has generated the largest revenue share of 73%.
- By Application, the oncology segment has dominated the market and accounted for the largest global revenue of 28.5% in 2022.
- By Workflow, the pre-sequencing segment generated the largest revenue share of 56% in 2022.
- By End-Use, the academic research segment has dominated the market, and it accounted for the largest global revenue in 2022.
- In 2022, North America dominated the market with the highest revenue share of 43%.
- Asia Pacific region is expected to grow at a significant CAGR from 2023-2032.
Factors affecting the growth of the next-generation sequencing market
Several factors can affect the growth of the next-generation sequencing market. Some of these factors include:
- Increasing applications in oncology: NGS in oncology treatments helps in the detection of translocations, detection of copy number variants, and provides effective information for cancer treatment.
- Increasing use in diagnostics: Increasing prevalence of chronic diseases and increasing use in genetic testing has surged demand for NGS in diagnostics. Sequence variants detected by GNS are widely used for disease diagnosis, prognosis, and therapeutic decisions, which is driving market growth.
- Growing demand in the drug discovery process: Next-Generation sequencing can be used to identify drug resistance and responses to medical interventions. This helps researchers to understand the benefits of therapies. This also helps researchers to develop new therapies to treat mutated microbes.
To understand how our report can bring a difference to your business strategy, Inquire about a brochure at https://market.us/report/next-generation-sequencing-market/#inquiry
Top Trends in Global Next-Generation Sequencing Market
Pharmaceutical and biotechnology companies are increasing genomic sequencing projects to support their genomic drug development programs. Government organizations are sequencing millions of genomes to promote cancer treatments. Initiatives like the French Plan for Genomic Medicine 2025 or the 100,000 Genomes Project in the U.K., the EU is working to improve large-scale genomic data in the region. The NGS informatics services have increased in this region due to these initiatives.
Market Growth
The growth of the NGS market growth is attributed to large applications in clinical testing, disease treatments, and laboratory investigation in the healthcare sector. NGS has benefits such as quick sample analysis and cost-effectiveness. NGS is widely used in pharmacogenomics to accelerate the drug discovery process.
Expanding genomics programs in several nations divining the growth of the next-generation sequencing market. Increasing applications in clinical diagnosis is a major growth factor in the global next-generation sequencing market. The introduction of next-generation sequencing-based diagnostics and positive sponsorship by governments are the growth factors of the next-generation sequencing market.
Regional Analysis
The next-generation sequencing market was dominated by North America, which acquired the most significant revenue share of 43% in 2022. The growth of the region is propelled by a large number of clinical labs that uses NGS to provide genetic testing services. North American region is investing more in R&D facilities and has a strong network for conducting medical research in developed countries.
Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to technological advancements in emerging economies such as Japan and China in the field of next-generation sequencing. Also, increasing healthcare industries, clinical development frameworks, and R&D in emerging economies like Australia and India are expected to offer lucrative growth opportunities in this market.
Competitive Landscape
Prominent players in the next-generation sequencing market are developing expansion strategies through investments and mergers, and acquisitions.
Some of the major key players in next-generation sequencing markets are Illumina, Inc., F. Hoffman-La Roche, QIAGEN, Thermo Fisher Scientific Inc., Bio-Rad Laboratories, Inc., Oxford Nanopore Technologies, PierianDx Inc., Genomatix GmbH, DNASTAR, Inc., Perkin Elme Inc., Eurofins GATC Biotech GmbH, BGI, Precigen Inc., Macrogen Inc., Pillar Biosciences Inc., Agilent Technologies Inc., and Other key players.
Have Queries? Speak to an expert or Click Here To Download/Request a Sample
Scope of the Report
| Report Attribute | Details |
| Market Value (2022) | USD 7.6 billion |
| Market Size (2032) | USD 29.7 billion |
| CAGR (from 2023 to 2032) | 14.6% |
| North America Revenue Share | 43% |
| Historic Period | 2016 to 2022 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2032 |
Market Drivers
NGS companies are developing a new method that uses enzymatic DNA synthesis and NGS in a single device. The NGS is an effective technique for illness diagnosis, mainly as a pathogen-detection technique for infectious disease diagnosis. Advancements in NGS instrumentation and technology are driving the growth of the NGS market.
Government organizations are sequencing millions of genomes to increase science and develop effective & rare cancer treatments. Initiatives such as French Plan for Genomic Medicine 2025 or the 100,000 Genomes Project in the U.K. and EU are working to improve large genomic data in the region, which is driving the NGS market.
Market Restraints
Factors such as identifiability and disclosing research findings harm next-generation sequencing market growth. Next-generation sequencing is an advanced technology, and it requires high initial costs and skilled workers, thus a lack of developed infrastructure for NGS restraining the market growth.
Market Opportunities
Advantages of NGS, such as cost efficiency, rapid and accurate sample analysis, and technological advancements, are estimated to drive the adoption of NGS technology during the forecast period. Developing genomic programs in many countries is expected to offer growth opportunities in this market.
The rising adoption of NGS technologies by pharmaceutical and biopharmaceutical companies is the key factor expected to drive the market during the forecast period. The clinical segment is expected to be the leading segment in the global next-generation sequencing market and is anticipated to offer growth opportunities in this market.
Grow your profit margin with Market.us - Purchase This Premium Report at https://market.us/purchase-report/?report_id=40038
Report Segmentation of the Next-Generation Sequencing Market
Technology Insight
Based on Technology, the targeted sequencing segment is dominant in this market with the largest market share and is expected to continue its dominance during the forecast period. Growth of the segment is propelled by the availability of information to analyze specific gene locations or isolated genetic expressions. Targeted sequencing helps in standard cancer diagnostics, which is the primary growth factor of this segment.
Application insight
Based on application, the oncology segment was dominant in this market, with the largest market revenue share in 2022. The segment growth is attributed to the application of next-generation sequencing to understand the function of cancer cells. Several top companies in the NGS market are adopting NGS and RNA sequencing for cancer treatments.
Workflow Insight
On the basis of workflow, the pre-sequencing segment was dominant in this market, with the largest market share in 2022. Pre-sequencing systems accurately measure the presence of liquid essential for next-generation sequencing. This system performs functions like changing microliter plates and tubes and streamlining the workflow of NGS.
End-User Insight
Based on end-user, the academic research segment was dominant in the market with the largest market revenue share in 2022 and is anticipated to remain dominant in the market during the forecast period due to significant applications of NGS solutions in research projects at universities and research centers. Also, NGS scholarships for Ph.D. students are the main factor in increasing the use of NGS in academic research.
For more insights on the historical and Forecast market data from 2016 to 2032 - download a sample report at https://market.us/report/next-generation-sequencing-market/request-sample/
Market Segmentation
By Technology Type
- Whole Genome Sequencing
- Whole Exome Sequencing
- Targeted Sequencing & Resequencing
By Application
- Oncology
- Clinical Investigation
- Reproductive Health
- Metagenomics
- Drug Discovery
- Consumer Genomics
By Workflow
- Pre-sequencing
- Sequencing
- NGS Data Analysis
By on End-User
- Clinical Research
- Hospitals and Clinics
- Pharma and Biotech Industries
- Contract Research Organizations
- Academic Research
By Geography
- North America
- The US
- Canada
- Mexico
- Western Europe
- Germany
- France
- The UK
- Spain
- Italy
- Portugal
- Ireland
- Austria
- Switzerland
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe
- Russia
- Poland
- The Czech Republic
- Greece
- Rest of Eastern Europe
- APAC
- China
- Japan
- South Korea
- India
- Australia & New Zealand
- Indonesia
- Malaysia
- Philippines
- Singapore
- Thailand
- Vietnam
- Rest of APAC
- Latin America
- Brazil
- Colombia
- Chile
- Argentina
- Costa Rica
- Rest of Latin America
- Middle East & Africa
- Algeria
- Egypt
- Israel
- Kuwait
- Nigeria
- Saudi Arabia
- South Africa
- Turkey
- United Arab Emirates
- Rest of MEA
Key Market Players
- Illumina, Inc.
- Hoffman-La Roche
- QIAGEN
- Thermo Fisher Scientific Inc.
- Bio-Rad Laboratories, Inc.
- Oxford Nanopore Technologies
- PierianDx Inc.
- Genomatix GmbH
- DNASTAR, Inc.
- Perkin Elme Inc.
- Eurofins GATC Biotech GmbH
- BGI
- Precigen Inc.
- Macrogen Inc.
- Pillar Biosciences Inc.
- Agilent Technologies Inc.
- Other key players
Recent Development of the Next-Generation Sequencing Market
- In June 2020, Illumina Inc. announced the acquisition of Blue Bee, a cloud-based software company that provides genomics analysis solutions.
- In May 2020, Roche announced the acquisition of early-stage sequencing technology to advance the development of Roche’s Nanopore sequencer.
Related Reports:
- Assisted reproductive technology (ART) market was worth US$ 24.73 Billion in 2021 at a CAGR of 8.6% over the forecast period of 2023-2032.
- Reproductive genetics market is projected to reach a valuation of USD 15,904.46 Mn by 2031 at a CAGR of 12.30%, from USD 4,985.65 Mn in 2021.
- Companion Diagnostics Market size is expected to be worth around USD 4,786 Million by 2032 from USD 2,452 Million in 2022, growing at a CAGR of 7.1%.
- Veterinary Vaccines Market was valued at USD 11.2 Bn. 2023 and 2032, this market is estimated to register the highest CAGR of 7.2%.
- Power Electronic market was valued at USD 43.3 billion in 2022 and is expected to reach USD 96.1 billion Between 2023 and 2032.
- Medical tourism market size is expected to be worth around USD 35.9 Bn by 2032 at a CAGR of 12.20% forecast period from 2022 to 2032.
About Us:
Market.US (Powered by Prudour Pvt Ltd) specializes in in-depth market research and analysis and has been proving its mettle as a consulting and customized market research company, apart from being a much sought-after syndicated market research report-providing firm. Market.US provides customization to suit any specific or unique requirement and tailor-makes reports as per request. We go beyond boundaries to take analytics, analysis, study, and outlook to newer heights and broader horizons.
Follow Us On LinkedIn Facebook Twitter
Our Blog:
