Next-generation Sequencing (NGS) Market is Expected to Reach $27.0 billion | MarketsandMarkets.

Chicago, June 02, 2023 (GLOBE NEWSWIRE) -- The next-generation sequencing (NGS) industry is poised for remarkable growth and innovation in the near future. NGS has revolutionized genomics research and clinical applications by enabling rapid and cost-effective sequencing of DNA and RNA, providing unprecedented insights into genetic variation, disease mechanisms, and personalized medicine. With continuous advancements in sequencing technologies, we can expect NGS to become even more powerful, efficient, and accessible. Improvements in sequencing platforms, including increased throughput, longer read lengths, and enhanced data analysis capabilities, will expand the range of applications for NGS across various sectors. Additionally, the integration of NGS with complementary technologies like bioinformatics, artificial intelligence, and cloud computing will enable efficient data processing, interpretation, and storage. This integration will further propel discoveries and collaborations in genomics research and clinical practice. As precision medicine gains prominence, NGS will play a pivotal role in supporting accurate disease diagnosis, treatment selection, and monitoring. In the near future, NGS will continue to drive advancements in genomics, revolutionize healthcare, and shape the future of personalized medicine.

Next-generation Sequencing (NGS) market in terms of revenue was estimated to be worth $13.0 billion in 2022 and is poised to reach $27.0 billion by 2027, growing at a CAGR of 15.7% from 2022 to 2027 according to a latest report published by MarketsandMarkets™. Market growth is largely driven by growing incidence of cancer and increasing applications of NGS in cancer research, and collaborations and partnerships among players.

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Next-generation Sequencing (NGS) Market Scope:

Report Coverage	Details
Market Revenue in 2022	$13.0 billion
Estimated Value by 2027	$27.0 billion
Growth Rate	Poised to grow at a CAGR of 15.7%
Market Size Available for	2020–2027
Forecast Period	2022–2027
Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	Product & Service, Application, Technology, and End User
Geographies Covered	North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Report Highlights	Updated financial information / product portfolio of players
Key Market Opportunities	Application of NGS in precision medicine and molecular diagnostics
Key Market Drivers	Advancements in NGS platforms

Next-generation sequencing market by product & service is categorized into presequencing products & services, NGS platforms, NGS consumables, services for NGS platforms, sequencing services, and bioinformatics. NGS consumables dominated the market in 2021, driven by various factors such as launch of new kits and reagents and growing number of sequencing procedures.

Major Next-generation Sequencing (NGS) market players covered in the report, such as:

• Illumina (US)
• Thermo Fisher Scientific (US)
• PerkinElmer (US)
• BGI Group (China)
• Agilent Technologies (US)
• Eurofins Scientific (Luxembourg)
• Pacific Biosciences (US)
• Oxford Nanopore Technologies (UK)
• QIAGEN (Netherlands)
• F. Hoffmann-La Roche AG (Switzerland)
• Brooks Automation (US)
• Psomagen Inc. (US)
• 10x Genomics (US)
• Tecan Group (Switzerland)
• Zymo Research (US)
• Takara Bio (Japan)
• Promega Corporation (US)
• CD Genomics (US)
• New England Biolabs (US)
• Novogene Corporation (China).
• and Among Others

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The study categorizes the next-generation sequencing market into the following segments and subsegments:

BY PRODUCT

• NGS Consumables
• Sequencing Services
  • Exome & Targeted Resequencing and Custom Panels
  • RNA Sequencing
  • De Novo Sequencing
  • ChIP-Seq
  • Whole-genome Sequencing
  • Methyl Sequencing
  • Other Sequencing Services
• Presequencing Products & Services
  • Library Preparation & Target Enrichment
  • Quality Control
• NGS Platforms
  • Illumina
    • Novaseq Systems
    • Nextseq Systems
    • Miseq Systems
    • Miniseq Systems
    • iSeq Systems
  • Thermo Fisher Scientific
    • ION PGM Systems
    • ION Proton Systems
    • ION Genestudio Systems
    • Ion Torrent Genexus Systems
  • Oxford Nanopore Technologies
  • Pacific Biosciences
  • Other Platforms
• Bioinformatics
  • Data Analysis Services
  • NGS Data Analysis Software & Workbenches
  • NGS Storage, Management, & Cloud Computing Solutions
• Services for NGS Platforms

BY TECHNOLOGY

• Sequencing by Synthesis
• ION Semiconductor Sequencing
• Nanopore Sequencing
• Single-Molecule Real-Time Sequencing
• Other Technologies

BY APPLICATION

• Diagnostics
  • Cancer Diagnostics
  • Infectious Disease Diagnostics
  • Reproductive Health Diagnostics
  • Other Diagnostic Applications
• Drug Discovery & Development
  • Pharmacogenomics
  • Other Drug Discovery and Development Applications
• Agricultural & Animal Research
• Other Applications

BY END USER

• Academic Institutes & Research Centers
• Pharmaceutical & Biotechnology Companies
• Hospitals & Clinics
• Reference Laboratories
• Other End Users

BY REGION

• North America
  • US
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Netherlands
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East and Africa
  • Middle East
  • Africa

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The next-generation sequencing (NGS) market offers numerous key benefits for stakeholders involved in genomics research, clinical diagnostics, and personalized medicine. These benefits include:

• Improved Accuracy and Sensitivity: NGS provides highly accurate and sensitive sequencing data, allowing for the detection of genetic variations, including single nucleotide polymorphisms (SNPs), insertions, deletions, and structural variants. This level of precision enables researchers and clinicians to identify disease-causing mutations, characterize genetic predispositions, and monitor treatment response.
• High Throughput and Cost Efficiency: NGS platforms have significantly higher throughput compared to traditional sequencing methods, allowing for the simultaneous analysis of multiple samples in a single run. This scalability and cost efficiency make NGS ideal for large-scale genomic studies, population-based research, and clinical applications, driving down the cost per sample and making sequencing more accessible.
• Broad Application Spectrum: NGS has broadened the scope of genomics research and clinical diagnostics. It is used for various applications, including whole-genome sequencing, targeted sequencing, transcriptomics, epigenomics, metagenomics, and single-cell sequencing. This versatility enables researchers and clinicians to investigate diverse biological questions, uncover novel genetic variants, study gene expression patterns, and gain deeper insights into complex diseases.
• Personalized Medicine and Therapeutic Development: NGS plays a critical role in advancing personalized medicine by facilitating the identification of biomarkers, genetic signatures, and potential therapeutic targets. It enables clinicians to tailor treatment plans based on an individual's genetic profile, improving patient outcomes and minimizing adverse reactions. Additionally, NGS supports the development of targeted therapies and precision oncology by guiding the selection of appropriate drugs and monitoring treatment response.
• Data Integration and Collaboration: The large-scale data generated by NGS requires robust bioinformatics tools and data analysis pipelines. Stakeholders in the NGS market benefit from the advancements in bioinformatics, which enable efficient data processing, interpretation, and integration with other omics data. This integration fosters collaboration among researchers, clinicians, and pharmaceutical companies, promoting knowledge sharing and accelerating discoveries in genomics research.

Overall, the NGS market offers stakeholders unprecedented opportunities to unlock the potential of genomics and personalized medicine. The accuracy, scalability, cost efficiency, and wide-ranging applications of NGS drive innovation, propel scientific discoveries, and pave the way for more precise and tailored approaches to healthcare.

Next-generation Sequencing (NGS) Market Frequently Asked Questions (FAQs):

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The report will help market leaders/new entrants by providing them with the closest approximations of the revenue numbers for the overall next-generation sequencing market and its subsegments. It will also help stakeholders better understand the competitive landscape and gain more insights to better position their business and make suitable go-to-market strategies. This report will enable stakeholders to understand the market's pulse and provide them with information on the key market drivers, restraints, challenges, and opportunities.

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With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for this report:

• An additional five company profiles

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