Dublin, April 17, 2024 (GLOBE NEWSWIRE) -- The "U.S. Next Generation Sequencing Market Size, Share & Trends Analysis Report by Technology (Whole Exome Sequencing, Targeted Sequencing & Resequencing), Product (Platforms, Consumables), Application, Workflow, End-use, and Segment Forecasts, 2024-2030" report has been added to ResearchAndMarkets.com's offering.
The U.S. next generation sequencing market size is anticipated to reach USD 11.82 billion by 2030, expanding at a CAGR of 20.14% from 2024 to 2030. Increasing applications of next generation sequencing (NGS) in drug discovery, diagnostics, and personalized medicine, as well as the growing prevalence of cancer and other genetic disorders. In addition, rising cardiovascular diseases is another factor driving the U.S. market's growth.
According to Centers for Disease Control and Prevention (CDC), heart disease remains the leading cause of death across various demographics in the U.S., including men, women, and individuals of most racial and ethnic backgrounds. On average, a person dies of cardiovascular disease every 33 seconds in the U.S. Sequencing can be employed in cardiovascular genetics to identify genetic risk factors for conditions like familial hypercholesterolemia, cardiomyopathies, and arrhythmias. It enables early detection of individuals at risk and facilitates personalized treatment plans.
Continuous innovations and improvements in NGS technologies, such as sequencing platforms, bioinformatics tools, and sample preparation methods, drive market growth. Enhanced sequencing speed, accuracy, and cost-effectiveness make NGS more accessible and applicable across diverse research and clinical applications. The expanding utility of sequencing techniques in clinical diagnostics, including oncology, rare diseases, genetic disorders, and infectious diseases, is a significant driver of market growth. NGS enables precise and comprehensive genetic analysis, leading to improved diagnosis, treatment selection, and patient care.
The COVID-19 pandemic has significantly affected the U.S. NGS market. As healthcare providers focus on managing the pandemic, routine medical procedures, including genetic testing, have been postponed or canceled. This has caused a decline in the demand for NGS tests in the country. However, the pandemic has also highlighted the importance of genetic testing and its potential in managing and treating diseases. As a result, there has been a renewed interest in NGS-based research and development, which is expected to drive the market's growth in the coming years. Furthermore, the increased demand for COVID-19 testing has led to the development of new NGS-based diagnostic tests. These tests are expected to play a crucial role in the early detection and management of the disease.
The U.S. NGS market's growth is driven by the substantial cost associated with NGS technologies. The initial investment in sequencing instruments, reagents, and infrastructure can be prohibitively high for many research laboratories, academic institutions, and smaller healthcare facilities. Additionally, the ongoing operational expenses and maintenance costs further strain limited budgets, hindering access to NGS technology. Sequencing generates vast amounts of complex data, posing significant challenges in storage, analysis, and interpretation. Managing terabytes to petabytes of sequencing data requires robust computational resources and sophisticated bioinformatics tools. Moreover, ensuring data integrity, security, and compliance with privacy regulations adds another layer of complexity to NGS data management.
U.S. Next Generation Sequencing Market Report Highlights
- Consumables dominated the product segment in 2023 owing to the increasing demand for high-quality and reliable sequencing products
- The oncology application segment held the largest revenue share of 26.67% in 2023. On the other hand, the consumer genomics segment is expected to grow at the highest CAGR by 2030.
- In 2023, targeted sequencing & resequencing dominated the technology segment with a revenue share of 71.14% and is expected to grow at the highest CAGR by 2030
- In 2023, sequencing dominated the workflow segment with a share of 57.60% while NGS data analysis is expected to grow at the highest CAGR from 2024 to 2030
- Academic research dominated the end-use segment with a revenue share of 50.49% in 2023
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Snapshot
2.3. Competitive Landscape Snapshot
Chapter 3. Market Variables, Trends, & Scope
3.1. Market Lineage Outlook
3.2. Market Dynamics
3.2.1. Market Driver Analysis
3.2.1.1. Decreasing costs for genetic sequencing
3.2.1.2. Development of companion diagnostics and personalized medicine
3.2.1.3. Rise in competition among prominent market entities
3.2.1.4. Rising clinical opportunity for NGS technology
3.2.2. Market Restraint Analysis
3.2.2.1. Lack of computational efficiency for data management
3.2.2.2. Challenges associated with NGS implementation
3.3. Industry Analysis Tools
Chapter 4. U.S. NGS Market: Technology Business Analysis
4.1. Segment Dashboard
4.2. U.S. NGS Market Technology Movement Analysis
4.3. U.S. NGS Market Size & Trend Analysis, by Technology, 2018 to 2030 (USD Million)
4.4. Targeted Sequencing & Resequencing
4.4.1. Targeted sequencing & resequencing market estimates and forecast, 2018 - 2030 (USD Million)
4.4.1.1. DNA-based targeted sequencing & resequencing
4.4.1.2. RNA-based targeted sequencing & resequencing
4.5. Whole Genome Sequencing
4.6. Whole Exome Sequencing
Chapter 5. U.S. NGS Market: Product Business Analysis
5.1. Segment Dashboard
5.2. U.S. NGS Market Product Movement Analysis
5.3. U.S. NGS Market Size & Trend Analysis, by Product, 2018 to 2030 (USD Million)
5.4. Platforms
5.4.1. Platforms market estimates and forecast, 2018 - 2030 (USD Million)
5.4.1.1. Sequencing
5.4.1.2. Data Analysis
5.5. Consumables
5.5.2. Sample Preparation
5.5.3. Target Enrichment
Chapter 6. U.S. NGS Market: Application Business Analysis
6.1. Segment Dashboard
6.2. U.S. NGS Market Application Movement Analysis
6.3. U.S. NGS Market Size & Trend Analysis, by Application, 2018 to 2030 (USD Million)
6.4. Oncology
6.4.1. Oncology market estimates and forecast, 2018 - 2030 (USD Million)
6.4.2. Diagnostics & Screening
6.4.2.2. Oncology screening
6.4.2.2.2. Sporadic Cancer
6.4.2.2.3. Inherited Cancer
6.4.2.3. Companion diagnostics
6.4.2.4. Other diagnostics
6.4.3. Research Studies
6.5. Clinical Investigation
6.5.2. Infectious Diseases
6.5.3. Idiopathic Diseases
6.5.4. Inherited Diseases
6.5.5. Non-Communicable/Other Diseases
6.6. Reproductive Health
6.6.1. Reproductive health market estimates and forecast, 2018 - 2030 (USD Million)
6.6.2. NIPT
6.6.2.1. NIPT market estimates and forecast, 2018 - 2030 (USD Million)
6.6.2.2. Aneuploidy
6.6.2.3. Microdeletions
6.6.3. PGT
6.6.3.1. PGT market estimates and forecast, 2018 - 2030 (USD Million)
6.6.4. Newborn Genetic Screening
6.6.5. Single Gene Analysis
6.7. HLA Typing/Immune System Monitoring
6.8. Metagenomics, Epidemiology & Drug Development
6.9. Agrigenomics & Forensics
6.10. Consumer Genomics
Chapter 7. U.S. NGS Market: Workflow Business Analysis
7.1. Segment Dashboard
7.2. U.S. NGS Market Workflow Movement Analysis
7.3. U.S. NGS Market Size & Trend Analysis, by Workflow, 2018 to 2030 (USD Million)
7.4. Pre-sequencing
7.4.2. Library Preparation
7.4.2.1. Library preparation market estimates and forecast, 2018 - 2030 (USD Million)
7.4.2.2. NGS Library Preparation Kits
7.4.2.3. Semi-automated Library Preparation
7.4.2.4. Automated Library Preparation
7.5. Sequencing
7.6. Data Analysis
7.6.2. NGS Primary Data Analysis
7.6.3. NGS Secondary Data Analysis
7.6.4. NGS Tertiary Data Analysis
Chapter 8. U.S. NGS Market: End-use Business Analysis
8.1. Segment Dashboard
8.2. U.S. NGS Market End-use Movement Analysis
8.3. U.S. NGS Market Size & Trend Analysis, by End-use, 2018 to 2030 (USD Million)
8.4. Academic Research
8.5. Clinical Research
8.6. Hospitals & Clinics
8.7. Pharmaceutical & Biotech Entities
8.8. Other Users
Chapter 9. Competitive Landscape
9.1. Participant Categorization
9.2. Strategy Mapping
9.3. Company Market Position Analysis, 2023
9.4. Participant's Overview
- Illumina
- QIAGEN
- Thermo Fisher Scientific, Inc.
- Bio-Rad Laboratories, Inc.
- Oxford Nanopore Technologies
- Pacific Biosciences
- Agilent Technologies, Inc
- BGI
- F. Hoffmann-La Roche AG
- Eurofins Scientific
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