NGS Market 2035

PORTLAND, OREGON, UNITED STATES, June 11, 2024 /EINPresswire.com/ -- How big is the NGS market?

According to the report, the global next generation sequencing market was valued at $13 billion in 2023 and is estimated to reach $97.8 billion by 2035, exhibiting a CAGR of 18.3% from 2024 to 2035.

Growth in adoption of next generation sequencing, advancements in technologies and presence of key players are the factors that drive the growth of the global next generation sequencing market. However, complexity in data analysis and interpretation, requiring skilled bioinformatics expertise is anticipated to hinder market growth. On the contrary, a rise in healthcare expansion is expected to offer remunerative opportunities for the next generation sequencing market during the forecast period.

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Key Takeaways:

The consumables segment to maintain its lead position during the forecast period.

The biomarkers & cancer segment to maintain its lead position during the forecast period.

The sequencing by synthesis segment to maintain its lead position during the forecast period.

The academic & research centers segment to maintain its lead position during the forecast period.

North America is expected to maintain its dominance by 2035.

Factors affecting the growth of the Next Generation Sequencing Market:

Reduction in Sequencing Costs: The decreasing cost of sequencing per base pair has made NGS more accessible and scalable.

Increased Throughput and Accuracy: Improvements in sequencing platforms have enhanced data quality and throughput, allowing for more comprehensive and faster analyses.

Development of Novel Technologies: Innovations such as single-cell sequencing, long-read sequencing, and real-time sequencing are expanding the applications of NGS.

Clinical Diagnostics: NGS is increasingly used for diagnosing genetic disorders, identifying biomarkers for personalized medicine, and guiding treatment decisions, especially in oncology.

Research: Genomics research, including population genetics, functional genomics, and metagenomics, drives demand for NGS technologies.

Agriculture and Animal Breeding: NGS aids in crop improvement, livestock breeding, and the study of plant and animal genomes.

COVID-19 Pandemic Impact:

Increased Demand for Sequencing: The pandemic underscored the importance of genomic sequencing in understanding and tracking viral mutations, boosting NGS demand.

Public Health Applications: NGS was pivotal in pandemic response, including surveillance of variants and vaccine development.

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Next Generation Sequencing Market Segments:

By TECHNOLOGY:

Sequencing by synthesis (SBS)
Ion semiconductor sequencing (IOS)
Sequencing by Ligation (SBL)
Pyrosequencing
Single-molecule-real-time sequencing (SMRT)
Others

By END USER:

Academic and clinical research centers
Pharmaceutical and biotechnology companies
Hospitals and clinics
Others

By APPLICATION:

Diagnostics
Biomarkers and Cancer
Reproductive Health
Personalized medicine
Agriculture and animal research
Others

By Region:

North America (U.S., Canada, Mexico)
Europe (Germany, France, UK, Italy, Spain, Rest of Europe)
Asia-Pacific (Japan, China, India, Australia, South Korea, Rest of Asia-Pacific)
LAMEA (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)

Regional Analysis:

North America held the highest market share in terms of revenue in 2023, accounting for almost half of the global next generation sequencing market revenue. This is primarily attributed to the rise in adoption of technologically advanced next generation sequencing, developed healthcare infrastructure, and increase in patient awareness about precision medicine.

However, Asia-Pacific is projected to register the highest CAGR of 19.9% during the forecast period. This is attributed to the surge in demand for sophisticated next generation sequencing, large number of healthcare reforms, high prevalence of genetic disorders, and increase in the focus of key players to develop technologically advanced & cost-effective technologies.

Key Market Players:

Illumina Inc.
F. Hoffmann-La Roche AG
Qiagen N.V
ABGI group
PerkinElmer, Inc
Agilent Technologies, Inc.
Pacific Biosciences of California
Thermo Fisher Scientific Inc.
Precigen Inc

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Distributor Landscape Assessment
Pricing Intelligence
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Investment & Initiatives Analysis
‘Business Profile’ of Key Players

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