Reports And Data

Next Generation Sequencing Market size is expected to reach USD 22.16 billion by the year 2027, growing at a CAGR of 15.9%.

NEW YORK CITY, NY, UNITED STATES, July 25, 2022 /EINPresswire.com/ -- According to the current analysis of Reports and Data, the global next generation sequencing market was valued at USD 5,793.4 million in 2019 and is expected to reach USD 22.16 billion by the year 2027, at a CAGR of 15.9%. Next-generation sequencing non-Sanger based high throughput method of sequencing. Entire next generation sequencing methodology engages a wide range of reagents, kits, equipment, software and tools for the pieces of its entire workflow that includes sample preparation, library preparation & amplification, sequencing, and analysis. Due to the constant innovations in the NGS technologies, there has been a significant decline in the sequencing costs, complexity and turnaround time. Horizons of the NGS applications is expanding, which in turn offers ample opportunities to emerging as well the existing market players.

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Illumina, ThermoFisher Scientific, Pacific biosciences, and Oxford Nanopore Technologies are among key innovators of next generation sequencing technologies. Based on the application, individual technologies are conquering the NGS markets across the globe. Illumina’s SBS technology remains the top choice of the researchers across the globe, considering the reducing costs and high precision. Clinical Diagnostic applications of NGS is dominated by ThermoFisher’s semiconductor NGS technology owing it to its less turnaround time. Pacific Biosciences’ long read sequencing technology is paving its success path for the de-novo sequencing applications. Oxford Nanopore remains a key innovator with its long read, portable, real-time sequencing offerings. Despite differences in the technological basis of individual companies, the market players in NGS products & services are focused on providing low cost, efficient, reliable, user friendly, compact and accurate sequencing experience to their customers. Furthermore, bioinformatics tools plays a vital role in the advancement of NGS workflow and analysis, and continues to register significant growth in the global market. Also, NGS services holds more than one fourth of the revenue generated in the global next generation sequencing market and is fragmented in nature, unlike NGS products market.

Furthermore, increased government initiatives, availability of research funds from private as well as public bodies, improvement in the reimbursement scenario for NGS based diagnostics, and rising awareness about benefits of NGS technologies are among the key factors propelling the growth of next generation sequencing market.

Further key findings from the report suggest:

NGS platforms segment is expected to grow with a CAGR of 14.7% during the forecast period. Consumables remains the chief revenue generating segment in global next generation sequencing market

Diagnosis of complex diseases, whole-genome sequencing, analysis of epigenetic modifications, mitochondrial sequencing, transcriptome sequencing, and exome sequencing, are among the key applications of NGS contributing to the market growth

The volume of data generated from sequencing has significantly increased as a result of wide scale use of next generation sequencing. Consequently, the demand for NGS data analysis & data management tools & software is on surge

RNA-Seq through next generation sequencing allows profiling of the entire transcriptome, including the coding and non-coding regions; and facilitates gene identification, provides information on their relative abundance, identification of novel transcripts, detection of other genetic variation

Reduced costs and increased reliability of underlying NGS technologies has allowed next generation sequencing to flourish for research applications as well as healthcare applications such as clinical development, and clinical diagnostics

North America remains the key revenue generating geographical segment in next generation sequencing market. The geographical segment accounted for USD 1.88 billion in 2019. Availability of research funds from public as well as private sources, availability of state-of-art technologies, presence of key market players in the region, favorable reimbursements for NGS based diagnostics, rising focus on precision medicine, and rising awareness about NGS applications, are among the key factors driving the market growth for next generation sequencing in this region

Competitive Landscape:

The report also focuses on details of each market player including its global position, financial standing, revenue generation, company overview, product & service portfolio. The Next Generation Sequencing market is extremely competitive and consists of several key players at regional and global level. Key players are focused on adopting various strategies such as new product launches, mergers and acquisitions, investments in R&D, partnerships, joint ventures and collaborations to strengthen their market position and enhance product portfolio.

Leading companies operating in the market are:

Illumina, Inc. (U.S.), Thermo Fisher Scientific, Inc. (U.S.), Pacific Biosciences of California, Inc. (U.S.), Oxford Nanopore Technologies, Ltd. (U.K.), BGI (China), PerkinElmer (U.S.), Agilent Technologies (U.S.), QIAGEN N. V. (Germany), Macrogen Inc. (South Korea), and Eurofins Scientific (Luxembourg)

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The report also offers detailed insights about market segmentation based on type, application and regional bifurcation:

Next Generation Sequencing Market Segmentation:

Technology Outlook (Revenue in Million USD; 2017–2027)

Sequencing by Synthesis (SBS)
Ion Semiconductor Sequencing
Single-molecule Real-time Sequencing (SMRT)
Nanopore Sequencing
Other Technologies

Application Outlook (Revenue in Million USD; 2017–2027)

Diagnostics
Cancer Diagnostics
Infectious Disease Diagnostics
Reproductive Health Diagnostics
Other Diagnostic Applications
Drug Discovery
Agricultural and Animal Research
Other Applications

End User Outlook (Revenue in Million USD; 2017–2027)

Academia & Research Centers
Hospitals & Clinics
Pharmaceutical & Biotechnology Companies
Other End Users

Regional Outlook:

North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
Italy
France
BENELUX
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
A.E.
South Africa
Rest of MEA

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