Next Generation Sequencing (NGS) Market

Next Generation Sequencing (NGS) Market Size, Share, Trends, Growth, and Industry Analysis, By Product & Service (Consumables, Services, and Instruments), Application (Pharmaceuticals Microbiology, Drug & Biomarker Discovery, Diagnostics, Precision Medicine, Agricultural & Animal Research, Food Pathogen Screening, and Others), Technology (Sequencing by Synthesis (SBS), Sequencing by Ligation (SBL), and Others), End User (Pharmaceutical & Biotechnology Companies, Academic & Research Institutes, Hospitals & Clinics, Clinical Laboratories, Contract Research Organizations (CROS), and Others), Distribution Channel (Direct Tender, Retail Sales, and Others), Regional Analysis and Forecast 2032.

Pharma & Healthcare | May 2024 | Report ID: EMR00873 | Pages: 257

Global Next Generation Sequencing (NGS) market size was USD 12.93 billion in 2023 and the market is projected to touch USD 35.36 billion by 2032, at a CAGR of 11.83% during the forecast period.

NGS allows scientists to decipher genetic information rapidly and at a larger scale, revolutionizing fields such as healthcare, agriculture, and biotechnology. In recent years, the market has witnessed exponential growth due to the decreasing costs of sequencing, expanding applications in personalized medicine, and the rising demand for efficient diagnostics and drug development tools.

Sequencing technology vendors, bioinformatics businesses, and research institutes are key industry players who collaborate to invent and improve NGS platforms. Despite constraints such as data analysis complexities and regulatory hurdles, the NGS market is expected to grow further, fuelled by ongoing technological improvements and expanding usage across a wide range of industries around the world. As demand for genetic insights grows, the NGS industry is likely to play a crucial role in influencing the future of healthcare and scientific research.

 

Global Next Generation Sequencing (NGS) report scope and segmentation.

Report Attribute

Details

Estimated Market Value (2023)

USD 12.93 billion

Projected Market Value (2032)

USD 35.36 billion

Base Year

2023

Forecast Years

2024 – 2032

Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Based on By Product & Service, By Application, By Technology, By End-Use, By Distribution Channel, & Region.

Segments Covered

By Product & Service, By Application, By Technology, By End-Use, By Distribution Channel, & By Region.

Forecast Units

Value (USD Million or Billion), and Volume (Units)

Quantitative Units

Revenue in USD million/billion and CAGR from 2024 to 2032.

Regions Covered

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Countries Covered

U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others.

Report Coverage

Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis.

Delivery Format

Delivered as an attached PDF and Excel through email, according to the purchase option.

 

Global Next Generation Sequencing (NGS) dynamics

Technological advancements play a pivotal role, driving innovation and enabling the development of faster, more accurate, and cost-effective sequencing platforms. As sequencing technologies continue to improve, the cost per genome decreases, making NGS more accessible to a broader range of users. Additionally, the expanding applications of NGS across various sectors such as healthcare, agriculture, and environmental research contribute to market growth. In healthcare, NGS is increasingly used for personalized medicine, enabling tailored treatment plans based on an individual's genetic makeup. Moreover, the rising demand for precision medicine and companion diagnostics further fuels the adoption of NGS technologies.

Market dynamics are also influenced by regulatory issues and reimbursement regulations. Regulatory agencies are crucial to ensure the safety, efficacy, and quality of NGS technologies and applications. Changes in legislation can have an impact on market dynamics by affecting product development schedules, market entrance tactics, and compliance requirements for NGS firms. Furthermore, reimbursement rules influence the adoption of NGS in clinical settings, because reimbursement coverage for NGS-based tests affects their pricing and accessibility to patients.

 

Global Next Generation Sequencing (NGS) drivers

  • Technological Advancements

Continuous advancements in NGS technologies are a significant driver for market growth. Innovations such as improved sequencing chemistry, enhanced data analysis algorithms, and the development of high-throughput platforms contribute to faster, more accurate, and cost-effective sequencing. These technological advancements not only expand the capabilities of NGS but also lower the barriers to entry, making sequencing more accessible to researchers, clinicians, and other end-users. As a result, the adoption of NGS is expected to continue to rise across various industries, driving market expansion.

  • Expanding Applications

Another important factor driving market expansion is the growing number of NGS applications. Originally used for genome sequencing, NGS is now applied in a variety of sectors, including oncology, infectious disease research, agriculture, forensics, and environmental science. The versatility of NGS allows researchers and practitioners to evaluate DNA, RNA, and epigenetic alterations, providing insights into complicated biological processes and disease mechanisms. The increased understanding of the utility of genomic information in personalized medicine, drug development, and precision agriculture is likely to boost demand for NGS technologies, further accelerating market expansion.

 

Restraints:

  • Data Analysis Complexity

One of the primary restraints for the NGS market is the complexity of data analysis. While NGS generates vast amounts of sequencing data, analyzing and interpreting this data require sophisticated bioinformatics tools and expertise. The complexity of data analysis poses challenges for users, particularly those without specialized bioinformatics training, and can lead to delays and errors in data interpretation. Addressing this restraint requires ongoing efforts to develop user-friendly bioinformatics solutions, streamline data analysis workflows, and provide training and support to end-users.

  • Regulatory Hurdles

Regulatory hurdles present another significant restraint for the NGS market. Regulatory requirements vary across regions and applications, posing challenges for NGS companies seeking regulatory approval for their products and services. Additionally, the evolving regulatory landscape and uncertainties surrounding regulations for NGS-based diagnostics and clinical applications can impede market growth by delaying product launches and increasing compliance costs. To address this restraint, NGS companies need to stay abreast of regulatory developments, engage with regulatory agencies early in the product development process, and invest in robust quality management systems to ensure compliance with regulatory requirements.

 

Opportunities:

  • Precision Medicine

The growing emphasis on precision medicine presents a significant opportunity for the NGS market. NGS technologies enable comprehensive genomic profiling of individuals, facilitating the identification of genetic variants associated with diseases and treatment responses. With advances in NGS, there is an opportunity to expand the use of genomic information in clinical decision-making, allowing for personalized treatment strategies tailored to individual patients' genetic profiles. The integration of NGS into clinical practice for precision medicine applications has the potential to drive market growth and improve patient outcomes.

 

Segment Overview

  • By Product & Service

The Next Generation Sequencing (NGS) market can be segmented by product and service into consumables, services, and instruments. Consumables, such as reagents, kits, and other materials, are essential for the sequencing process and represent a significant portion of the market due to their recurrent nature. Services include bioinformatics analysis, data interpretation, and technical support, which are crucial for managing and understanding the vast amounts of data generated by NGS. Instruments include the sequencing machines and platforms that perform the actual sequencing tasks. Each of these segments plays a vital role in the NGS workflow, from sample preparation and sequencing to data analysis and interpretation, contributing to the overall growth and functionality of the market.

  • By Application

NGS technology finds diverse applications across various fields. In pharmaceuticals microbiology, it aids in understanding microbial genomes and their interactions, which is critical for developing new drugs and antibiotics. Drug and biomarker discovery benefit from NGS by identifying genetic markers associated with diseases, facilitating targeted therapy development.

Diagnostics use NGS for early detection and accurate diagnosis of genetic disorders and cancers. Precision medicine leverages NGS to tailor treatments based on individual genetic profiles, enhancing therapeutic efficacy. In agricultural and animal research, NGS helps improve crop yields and animal health through genetic insights. Food pathogen screening uses NGS for detecting and identifying contaminants in the food supply chain, ensuring food safety. The "others" category includes diverse applications like environmental monitoring and forensic analysis, showcasing the versatility and wide-ranging impact of NGS.

  • By Technology

NGS technologies are primarily segmented into sequencing by synthesis (SBS), sequencing by ligation (SBL), and others. SBS is the most widely used technology, known for its high accuracy, scalability, and ability to generate large volumes of data quickly. SBL offers unique advantages in certain applications, particularly where high specificity is required. Other technologies in this segment include nanopore sequencing and single-molecule real-time (SMRT) sequencing, which provide distinct benefits like long-read capabilities and real-time data output. These diverse technologies cater to various needs in research and clinical settings, driving innovation and broadening the scope of NGS applications.

  • By End User

The end users of NGS technology include pharmaceutical and biotechnology companies, academic and research institutes, hospitals and clinics, clinical laboratories, and contract research organizations (CROs). Pharmaceutical and biotechnology companies use NGS for drug discovery, development, and personalized medicine initiatives. Academic and research institutes employ NGS for basic and translational research, contributing to scientific knowledge and innovation.

Hospitals and clinics utilize NGS for diagnostic purposes and to guide treatment decisions in clinical settings. Clinical laboratories perform routine genetic testing and screenings using NGS technologies. CROs offer outsourced research services, including NGS, to support various R&D projects. Each of these end-user segments drives the demand for NGS through their unique applications and needs, collectively enhancing the market's growth and diversification.

  • By Distribution Channel

The distribution channels for NGS products and services include direct tender, retail sales, and others. Direct tender involves bulk purchasing agreements typically made by large institutions such as hospitals, research centers, and government bodies, ensuring a steady supply of NGS consumables, instruments, and services. Retail sales cater to individual buyers and smaller organizations through various sales platforms, including e-commerce and specialty distributors.

The "others" category includes diverse distribution methods such as partnerships, collaborations, and bundled service offerings. These distribution channels ensure that NGS technologies reach a wide range of users, from large-scale institutional buyers to individual researchers and clinicians, facilitating broad market penetration and accessibility.

 

Global Next Generation Sequencing (NGS) Overview by Region

North America holds the largest share of the market, primarily due to its robust healthcare system, extensive research funding, and presence of leading NGS technology providers. The United States, in particular, is at the forefront, with numerous research institutions, academic centers, and biotech companies driving innovation and application in clinical and research settings. Government initiatives, such as the Precision Medicine Initiative, further bolster the adoption and integration of NGS technologies.

Europe represents another major market for NGS, characterized by strong research activities and supportive regulatory frameworks. Countries like the UK, Germany, and France lead in genomic research and personalized medicine initiatives. The European Union’s emphasis on precision medicine and substantial funding for genomic projects contribute to the region's growth. Additionally, collaborations between academic institutions and industry players enhance the development and deployment of NGS technologies.

The Asia-Pacific region is experiencing rapid growth in the NGS market, fuelled by increasing investments in healthcare infrastructure and biotechnology research. China, Japan, and India are key contributors, with rising demand for advanced diagnostic tools and personalized medicine. Government policies promoting biotech research and development, along with expanding healthcare access, drive the market. The region also benefits from a growing number of biotech startups and partnerships with global NGS companies.

 

 

Global Next Generation Sequencing (NGS) market competitive landscape

Leading companies such as Illumina, Thermo Fisher Scientific, and BGI Group dominate the market, offering comprehensive NGS platforms, consumables, and services. Illumina, for instance, is renowned for its robust portfolio of sequencing technologies and extensive global reach, making it a dominant force in the industry. Thermo Fisher Scientific provides a wide range of NGS solutions, from instruments and reagents to software, catering to various research and clinical needs. BGI Group, based in China, leverages its strong genomic research background and expansive sequencing services to compete effectively on a global scale.

In addition to these major players, the market includes numerous smaller companies and start-ups that contribute to the dynamic competitive environment. Companies like Pacific Biosciences, Oxford Nanopore Technologies, and 10x Genomics focus on niche segments of the NGS market, such as long-read sequencing, portable sequencing devices, and single-cell sequencing technologies, respectively. These companies drive innovation and introduce new capabilities that enhance the overall utility and application of NGS technologies.

Strategic partnerships and collaborations are common in the NGS market, as companies seek to expand their technological capabilities and market reach. Collaborations between technology providers and pharmaceutical companies, research institutions, and clinical laboratories help integrate NGS into broader applications such as drug development, diagnostics, and precision medicine. Additionally, mergers and acquisitions are prevalent, with larger companies acquiring innovative start-ups to bolster their product portfolios and maintain competitive advantage.

Key Players:

  • BGI
  • Eurofins Scientific
  • Beckman Coulter
  • Thermo Fisher Scientific
  • Revvity
  • Agilent Technologies
  • QIAGEN
  • Charles River Laboratories
  • Macrogen
  • Oxford Nanopore Technologies
  • Merck KGaA
  • New England Biolabs
  • Illumina
  • Promega Corporation
  • Hamilton Company
  • Takara Bio
  • LGC Biosearch Technologies
  • Bio-Rad Laboratories
  • PacBio
  • DNASTAR
  • Gilson Incorporated
  • PCR Biosystems
  • Azenta US
  • ACT Genomics
  • Quantabio
  • NimaGen

 

Global Next Generation Sequencing (NGS) Recent Developments

  • Aug 2023, Almac Diagnostic Services, a part of the Almac Group, has announced an investment to enhance its Next Generation Sequencing (NGS) capabilities for BioPharma partners. This follows the acquisition and installation of the first Illumina NovaSeq X Plus instrument in Northern Ireland and across the entire island of Ireland. With this investment in Illumina's newest and most advanced instrument, Almac’s NGS portfolio is significantly enhanced. Their DNA Sequencing Service offerings now include Whole Genome Sequencing, Whole Exome Sequencing, and various RNA Sequencing Service options for Biomarker Discovery projects.
  • May 2023, Pfizer and Thermo Fisher Scientific Inc. (NYSE: TMO) have announced a collaboration to expand access to next-generation sequencing (NGS)-based testing for lung and breast cancer patients in over 30 countries across Latin America, Africa, the Middle East, and Asia, where advanced genomic testing has been limited or unavailable. By providing local NGS testing, the initiative aims to deliver faster gene analysis, enabling healthcare providers to choose the most appropriate therapy for each patient.

 

Scope of global Next Generation Sequencing (NGS) report

Global Next Generation Sequencing (NGS) report segmentation

ATTRIBUTE

DETAILS

By Product & Service

  • Consumables
  • Services
  • Instruments

By Application

  • Pharmaceuticals Microbiology
  • Drug & Biomarker Discovery
  • Diagnostics
  • Precision Medicine
  • Agricultural & Animal Research
  • Food Pathogen Screening
  • Others

By Technology

  • Sequencing by Synthesis (SBS)
  • Sequencing by Ligation (SBL)
  • Others

By End User

  • Pharmaceutical & Biotechnology Companies
  • Academic & Research Institutes
  • Hospitals & Clinics
  • Clinical Laboratories
  • Contract Research Organizations (CROs)
  • Others

By Distribution Channel

  • Direct Tender
  • Retail Sales
  • Others

By Geography

  • North America (USA, and Canada)
  • Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
  • Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
  • Latin America (Brazil, Mexico, and Rest of Latin America)
  • Middle East & Africa (South Africa, GCC, and Rest of Middle East & Africa)

Customization Scope

  • Available upon request

Pricing

  • Available upon request

 

Objectives of the Study

The objectives of the study are summarized in 5 stages. They are as mentioned below:

  • Global Next Generation Sequencing (NGS) size and forecast: To identify and estimate the market size for global Next Generation Sequencing (NGS) market segmented By Product & Service, By Application, By Technology, By End-Use, By Distribution Channel,, and by region. Also, to understand the consumption/ demand created by consumers between 2024 and 2032.
  • Market Landscape and Trends: To identify and infer the drivers, restraints, opportunities, and challenges for global Next Generation Sequencing (NGS)
  • Market Influencing Factors: To find out the factors which are affecting the market of global Next Generation Sequencing (NGS) among consumers.
  • Company Profiling:  To provide a detailed insight into the major companies operating in the market. The profiling will include the financial health of the company's past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.

Research Methodology

Our research methodology has always been the key differentiating reason which sets us apart in comparison from the competing organizations in the industry. Our organization believes in consistency along with quality and establishing a new level with every new report we generate; our methods are acclaimed and the data/information inside the report is coveted. Our research methodology involves a combination of primary and secondary research methods. Data procurement is one of the most extensive stages in our research process. Our organization helps in assisting the clients to find the opportunities by examining the market across the globe coupled with providing economic statistics for each and every region.  The reports generated and published are based on primary & secondary research. In secondary research, we gather data for global Market through white papers, case studies, blogs, reference customers, news, articles, press releases, white papers, and research studies. We also have our paid data applications which includes hoovers, Bloomberg business week, Avention, and others.

Data Collection

Data collection is the process of gathering, measuring, and analyzing accurate and relevant data from a variety of sources to analyze market and forecast trends. Raw market data is obtained on a broad front. Data is continuously extracted and filtered to ensure only validated and authenticated sources are considered. Data is mined from a varied host of sources including secondary and primary sources.

Primary Research

After the secondary research process, we initiate the primary research phase in which we interact with companies operating within the market space. We interact with related industries to understand the factors that can drive or hamper a market. Exhaustive primary interviews are conducted. Various sources from both the supply and demand sides are interviewed to obtain qualitative and quantitative information for a report which includes suppliers, product providers, domain experts, CEOs, vice presidents, marketing & sales directors, Type & innovation directors, and related key executives from various key companies to ensure a holistic and unbiased picture of the market. 

Secondary Research

A secondary research process is conducted to identify and collect information useful for the extensive, technical, market-oriented, and comprehensive study of the market. Secondary sources include published market studies, competitive information, white papers, analyst reports, government agencies, industry and trade associations, media sources, chambers of commerce, newsletters, trade publications, magazines, Bloomberg BusinessWeek, Factiva, D&B, annual reports, company house documents, investor presentations, articles, journals, blogs, and SEC filings of companies, newspapers, and so on. We have assigned weights to these parameters and quantified their market impacts using the weighted average analysis to derive the expected market growth rate.

Top-Down Approach & Bottom-Up Approach

In the top – down approach, the Global Batteries for Solar Energy Storage Market was further divided into various segments on the basis of the percentage share of each segment. This approach helped in arriving at the market size of each segment globally. The segments market size was further broken down in the regional market size of each segment and sub-segments. The sub-segments were further broken down to country level market. The market size arrived using this approach was then crosschecked with the market size arrived by using bottom-up approach.

In the bottom-up approach, we arrived at the country market size by identifying the revenues and market shares of the key market players. The country market sizes then were added up to arrive at regional market size of the decorated apparel, which eventually added up to arrive at global market size.

This is one of the most reliable methods as the information is directly obtained from the key players in the market and is based on the primary interviews from the key opinion leaders associated with the firms considered in the research. Furthermore, the data obtained from the company sources and the primary respondents was validated through secondary sources including government publications and Bloomberg.

Market Analysis & size Estimation

Post the data mining stage, we gather our findings and analyze them, filtering out relevant insights. These are evaluated across research teams and industry experts. All this data is collected and evaluated by our analysts. The key players in the industry or markets are identified through extensive primary and secondary research. All percentage share splits, and breakdowns have been determined using secondary sources and verified through primary sources. The market size, in terms of value and volume, is determined through primary and secondary research processes, and forecasting models including the time series model, econometric model, judgmental forecasting model, the Delphi method, among Flywheel Energy Storage. Gathered information for market analysis, competitive landscape, growth trends, product development, and pricing trends is fed into the model and analyzed simultaneously.

Quality Checking & Final Review

The analysis done by the research team is further reviewed to check for the accuracy of the data provided to ensure the clients’ requirements. This approach provides essential checks and balances which facilitate the production of quality data. This Type of revision was done in two phases for the authenticity of the data and negligible errors in the report. After quality checking, the report is reviewed to look after the presentation, Type and to recheck if all the requirements of the clients were addressed.

Frequently Asked Questions

Global Next Generation Sequencing (NGS) forecast period is 2024 - 2032.
According to global Next Generation Sequencing (NGS) research, the market is expected to grow at a CAGR of ~ 11.83% over the next eight years.
The possible segments in global Next Generation Sequencing (NGS) are based on By Product & Service, By Application, By Technology, By End-Use, By Distribution Channel, & by region.
The expected market size for Global Next Generation Sequencing (NGS) is USD 35.36 billion in 2032.
The major players in the market are BGI, Eurofins Scientific, Beckman Coulter, Thermo Fisher Scientific, Revvity, Agilent Technologies, QIAGEN, Charles River Laboratories, Macrogen, Oxford Nanopore Technologies, Merck KGaA, New England Biolabs, Illumina, Promega Corporation, Hamilton Company, Takara Bio, LGC Biosearch Technologies, Bio-Rad Laboratories, PacBio, DNASTAR, Gilson Incorporated, PCR Biosystems, Azenta US, ACT Genomics, Quantabio, and NimaGen.
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