Next-generation Sequencing Industry Overview
The global next-generation sequencing market size is expected to reach USD 14.8 billion by 2030, registering a CAGR of 12.4% over the forecast period, according to a new report by Grand View Research, Inc. Next-generation Sequencing (NGS) is a parallel processing technique that can establish the sequence of nucleotides in a whole genome with scalability, ultra-high capacity, and fast speed. Furthermore, in the healthcare industry, NGS is gradually being incorporated into medical laboratory research, screening, and disease diagnoses. In personalized medicine, it has been frequently utilized to accelerate the drug research process.
Different potential sequencing methods such as RNA sequencing, whole-genome sequencing, and whole-exome and targeted sequencing amongst others are prominently used by researchers to get comprehensive sample analysis. When compared to the traditional Sanger sequencing technology, NGS is less expensive and provides higher throughput for DNA sequencing. The growing automation in the pre-sequencing protocols, post-sequencing protocols, and data analysis is also projected to have a positive impact on the NGS market. The utilization of novel platforms for the development of personalized medicine by medical analysis at a genetic level is also a significant factor, which is expected to enhance demand for NGS over the forecast period.
Next-generation Sequencing Market Segmentation
Grand View Research has segmented the global Next-generation sequencing market based on technology, workflow, application, end-use, and region:
Based on the Technology Insights, the market is segmented into WGS, Whole Exome Sequencing, and Targeted Sequencing & Resequencing.
- The targeted sequencing and resequencing segment held the highest market share of 74.9% in 2021. This segment is expected to witness growth in demand after the growth of whole genome sequencing, as the availability of a large amount of whole genome data will be required to be analyzed at specific gene locations and isolated genetic expressions.
- Illumina offers targeted resequencing with its gene panel and array finder, whereas Pacific Biosciences of California’s Sequel System with its SMRT technique allows targeted sequencing and accurate detection of variants. Targeted sequencing panels are expected to remain the workhorse for cancer molecular diagnostics and are projected to become the routine part of the heme malignancies and solid tumors.
Based on the Application Insights, the market is segmented into Oncology, Clinical Investigation, Reproductive Health, HLA Typing/Immune System Monitoring, Metagenomics, Epidemiology & Drug Development, Agrigenomics & Forensics, and Consumer Genomics.
- The oncology segment dominated the market and accounted for the highest market share of 28.5% in 2021. A gradually growing prevalence of cancer warrants the use of the latest technology to enable oncologists better understand the mechanics of cancer and tumor cells and the application of NGS for DNA and RNA sequencing, epigenetics, and analyzing chromosomal abnormalities account for over three-fourths of the global sequencing data are factors responsible for high market share.
- The continuous introduction of new products by the key players is driving growth in the consumer genomics segment. The presence of companies such as 23andMe that are involved in the provision of the “Personal Genome Service” can be attributed to growth in the coming years.
Based on the Workflow Insights, the market is segmented into Pre-sequencing, Sequencing, and NGS Data Analysis.
- The sequencing segment held the highest market share of 54.7% in 2021. NGS sequencing is the most important phase of the workflow and consequently accounts for the largest share of the market. These systems can provide an accurate amount of liquid, which is important in NGS.
- Illumina’s BaseSpace Suite aids in the analysis of sequencing data and the production of findings in a short amount of time. To expand its data analytic capabilities, the company has also purchased DRAGEN Bio-IT Platform (DRAGEN) and Edico Genome.
Based on the End-use Insights, the market is segmented into Academic Research, Clinical Research, Hospitals & Clinics, Pharma & Biotech Entities, and Other Users.
- The academic research segment held the highest market share of 52.9% in 2021. The application of NGS solutions in research projects that are carried out in the universities and research centers can be attributed to the largest share of this segment in the market.
- Provision of on-site bioinformatics courses that include workshops on the practical implementation of NGS sequencing and data analysis are also expected to boost revenue generated through the academic research segment in the coming years.
- Owing to the use of NGS in cancer research and, more specifically, in the discovery of new cancer-related genes, studying tumor heterogeneity, and identification of alterations that are contributive to tumorigenesis the segment is expected to witness significant growth through to 2028.
Next-generation Sequencing Regional Outlook
- North America
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Key Companies Profile
The industry is marked by high competition between the dominant players and these players are rapidly undertaking strategies such as strategic collaborations, geographical expansion, and partnerships through mergers and acquisitions in economically favorable and emerging regions. For instance, in January 2021, Cerba Research announced the launch of its new tools to enhance R&D for vaccine development against infectious diseases, including COVID-19.
Some of the prominent players in the global next-generation sequencing market include:
- Hoffman-La Roche Ltd.
- Thermo Fisher Scientific, Inc.
- Bio-Rad Laboratories, Inc.
- Oxford Nanopore Technologies
- Genomatix GmbH
- DNASTAR, Inc.
- Perkin Elmer, Inc.
- Eurofins GATC Biotech GmbH
Order a free sample PDF of the Next-generation Sequencing Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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