Next Generation Sequencing (NGS) Market – Trends Forecast Till 2030

Market Snapshot

Market Overview

The global Next Generation Sequencing (NGS) market size was estimated at USD 11.59 billion in 2023 and is projected to reach USD 29.84 billion in 2030 at a CAGR of 14.47% during the forecast period 2023-2030.

Next-generation sequencing (NGS) is a massively parallel sequencing method that offers scalability, high throughput, and high speed for genome-wide sequencing of nucleotides. Because it involves the preparation of material for the subsequent sequencing reaction, DNA presequencing is one of the most important processes in a common sequencing protocol. Globally, NGS is increasingly integrated into clinical laboratory analysis, testing and disease diagnosis in the healthcare industry. In pharmacogenomics, next-generation sequencing (NGS) is often used to accelerate the drug discovery process.

The growth of the global next-generation sequencing market is primarily driven by the growth of genome mapping programs; proliferation of next-generation sequencing applications; rising health care costs; and technological advances in sequencing platforms. For example, in 2019, Thermo Fisher Scientific, a world leader in scientific services, launched a new generation platform, the Ion Torrent Genexus System, which provides sample for one-day reporting. Additionally, Agilent Technologies, Inc., an American analytical development and manufacturing company, brought in 2019, we launched the Magnis NGS Prep System, a next-generation sequencing library preparation system designed to perform complex sequencing analyzes at the push of a button. Fetal genetic makeup and configuration can be detected with NGS-oriented tests such as non-invasive prenatal testing (NIPT) and pre-implantation genetic testing (PGT). R&D-related NGS has risen to new heights thanks to investments in NGS technologies worldwide. Growing demand for genome mapping software and increasing use of NGS is fueling market growth

During the COVID-19 pandemic, governments around the world partnered with the private sector to bring NGS technology to market as a potential diagnostic tool. The NGS diagnostic technique was able to determine the genetic sequence of the virus and helped researchers figure out how mutations occur. Next-generation sequencing (NGS) has been used to study COVID-19, making it much easier to trace the origin of SARS-CoV-2.

Delvens Industry Expert's Standpoint

The pandemic had a considerable impact on businesses globally, with nations like India and China bearing the brunt of the virus's outbreak Declining sequencing costs have increased the use of NGS in disease diagnosis. Various testing kits and testing services are emerging for the non-invasive prenatal testing, cancer diagnosis, genetic testing and more, leading the global market. In addition, active support from the government through product approval and improvement of reimbursements for such diagnostic tests is expected to provide new opportunities for market growth. Additionally, increasing prevalence of chronic diseases, increase in research and initiation of high-budget genomics projects are expected to boost market growth during the forecast period. These factors have led to the expansion of the market and increased demand for Next Generation Sequencing (NGS) solutions.

Market Portfolio

Key Findings

• The application segment is further fragmented into diagnostics, biomarkers & cancer, reproductive health, personalized medicine, agriculture & animal research, and other applications. The biomarker and cancer segment is expected to account for a larger market size during the forecast period due to increase in prevalence of cancer and advancement in technology in next generation sequencing. However, the personalized medicine segment is expected to witness considerable next generation sequencing market growth during the forecast period, due to surge in demand for drug treatment, advancement in R&D in healthcare sector, and rise in awareness for NGS testing in pharmaceutical and biotechnological industry.

• The product type segment is further bifurcated into Consumables, Platforms, Services and Nerve Blockers. The consumables segment is the largest market during the forecast period owing to development of technology in molecular genetics and surge in demand for novel pre-sequencing products and kits that execute DNA fragmentation, target enrichment, size selection, and others. However, the services segment is expected to witness considerable next generation sequencing market growth during the forecast period, due to advancement in technology based on SMRT sequencing, and increase in application of cloud computing for NGS data storage.
   
• The end user segment is further bifurcated into Academic and Research Centers, Pharmaceutical and Biotechnology Companies, Hospitals and Clinics, and Other End Users. Academic & clinical research to account for a larger market size during the forecast period due to increase in application-based usage in these institutes and rise in oncology research. However, the pharmaceutical & biotechnology companies’ segment is expected to witness considerable market growth during the forecast period, due to increase in prevalence of chronic disease, and advancement in R&D in the next generation sequencing market for therapeutics, oncology, and genomics research.
   
• The market is also divided into various regions such as North America, Europe, Asia-Pacific, South America, and Middle East and Africa. North America is estimated to account for the largest market share during the forecast period. In North America, increasing number of genomics research projects, rising demand for new NGS platforms and growing use of NGS consumables are various factors projected to drive the growth.

Regional Analysis

North America to Dominate the Market

• North America is estimated to account for the largest market share during the forecast period. In North America, increasing number of genomics research projects, rising demand for new NGS platforms and growing use of NGS consumables are various factors projected to drive the growth.

Competitive Landscape

• 10X Genomics
• Agilent Technologies
• BGI Group
• Bio-Rad Laboratories Inc.
• Brooks Automation Inc.
• CD Genomics
• DNASTAR Inc.
• Eurofins Scientific
• F. Hoffmann-La Roche Ltd.
• Illumina Inc.
• Macrogen Inc.
• New England Biolabs
• Novogene Corporation Inc.
• Oxford Nanopore Technologies
• Pacific Biosciences of California Inc.
• PerkinElmer Inc.
• Precigen Inc., (Intrexon Bioinformatics Germany GmbH)
• Promega Corporation
• Psomagen
• Qiagen
• Takara Bio
• Tecan Trading Group
• Thermo Fisher Scientific Inc.
• Zymo Research

Recent Developments

• In January, 2023, QIAGEN announced a strategic partnership with California-based population genomics leader Helix to advance next-generation sequencing companion diagnostics in hereditary diseases.
   
• In March, 2023, The company SOPHiA GENETICS announced a new partnership with Qiagen that will pair QIAseq reagent technology with the DDM platform to enhance tumor analysis through next-generation sequencing (NGS).

Reasons to Acquire

• Increase your understanding of the market for identifying the most suitable strategies and decisions based on sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends, and factors.
   
• Gain authentic and granular data access for the Next Generation Sequencing (NGS) Market to understand the trends and the factors involved in changing market situations.
   
• Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future.
   
• In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns.

Report Scope