Next-generation Sequencing Services Market Size, Share Global Analysis Report, 2023 – 2030

Industry Insights

[225+ Page Report] According to the report published by Facts & Factors, the global Next-generation Sequencing Services Market size was valued at USD 4.83 billion in 2022 and is predicted to reach USD 30.14 billion by the end of 2030. The market is expected to grow with a CAGR of 22.56% between 2023 and 2030. The report comprehensively analyzes the market growth factors, barriers, opportunities, and challenges during the forecast period. It also covers the geographical market and offers a comprehensive study of the competitive landscape in the market.

Market Overview

Next generations sequencing (NGS) is a high-speed technology to find the order of nucleotides in whole genomes. It offers ultra-high throughput and scalability. DNA sequencing is the prominent step in the whole sequencing protocol process as it includes making samples for subsequent sequencing reactions. NGS is a massively parallel sequencing technology.

Key Insights

• As per the analysis shared by our research analyst, the Next-generation Sequencing Services Market is estimated to grow annually at a CAGR of around 22.56% over the forecast period (2023-2030).
• In terms of revenue, the Next-generation Sequencing Services Market size was valued at around USD 4.83 billion in 2022 and is projected to reach USD 30.14 billion by 2030.
• High use of NGS in diagnostics is likely to boost the Next-generation Sequencing Services Market growth.
• Based on the end-user, the universities, and research centers accounted for the largest share of the market.
• Based on the workflow, the sequencing segment dominates the market.
• Based on the technology, the sequencing by synthesis segment dominates the market.
• Based on the application, the biomarker and cancer segment accounts for the largest share of the market.
• Based on the product, the consumable segment dominates the market.
• Based on the service, human genome sequencing accounts for the largest share of the market.

Growth Drivers

• The high use of NGS in diagnostics is likely to drive the market's growth.

The low cost of sequencing has widened the applications of NGS in disease diagnosis. Different testing services and kits are being innovated for non-invasive genetic testing, cancer diagnosis, prenatal testing, and others. Such emerging environments are likely to drive the growth of the Next-generation Sequencing Services Market significantly during the forecast period.

Furthermore, the increasing government support by offering better financial coverage, easy reimbursement policies, and fast product approval for various diagnostic tests is further likely to expedite the growth of the market. Additionally, the growing popularity of high-budget genomic projects and advanced research are further likely to ignite the market’s growth rate in the coming years. However, the growing prevalence of chronic disease is another major growth factor in the Next-generation Sequencing Services Market.

Restraints

• The lack of skilled professionals is likely to hamper the growth of the market.

Next-generation sequencing is an advanced technology that is improving day by day. Therefore, such advanced technology requires skilled professionals, which in turn is likely to limit the growth of the Next-generation Sequencing Services Market. Also, owing to its complexity, many products are still under development. Companies require trained staff that can complete and deliver the projects within the shortest timelines.

Opportunities

• Growing advancement in next-generation sequencing platforms is likely to offer lucrative growth opportunities in the market.

Several Next-generation Sequencing Services Market players have come up with advanced technology in the Next-generation Sequencing Services Market to position themselves as market leaders. However, such a landscape is likely to open lucrative growth opportunities in the market during the forecast period. The constant development in sequencing technology and the efficiency of biomarkers in the disease detection process are some of the achievements of leading companies in the market.

However, precise diagnosis and personalized medicines are also spiking the growth rate of the market. The growing initiatives by the government and prominent market leaders to lower the financial burden on national health infrastructure are further likely to boost investments in genome sciences, which will further boost the demand for NGS platforms.

Challenges

• High budget for projects to limit the growth of the market in developing countries.

Academic research and development activities depend entirely on external funding and investments. However, government bodies and large private entities are striving hard to offer enough funds for research and development activities in the institutes. Still, due to the high price of premium equipment and technology, developing countries are not able to compete at the global level and thereby degrading the growth rate of the Next-generation sequencing services industry in the forthcoming years.

Segmentation Analysis

The Next-generation Sequencing Services Market can be segmented into end-user, workflow, technology, application, product, service, and region.

By end-user, the market can be segmented into hospitals & clinics, pharmaceutical & biotechnology companies, universities & research centers, and others. The universities and research centers accounted for the largest share of the Next-generation Sequencing Services Market. The segment swept around 53.9% of the market share in 2022 because NGS is widely used for research purposes. It helps to enhance the project outcomes and extract insights into the mechanisms of disease occurrences.

However, the hospitals and clinics segment is also expected to witness huge growth during the forecast period. The segment is predicted to move with a CAGR of 24% between 2023 and 2030. The increasing deployment of NGS technology in the clinics to identify fetal aneuploidies extracted through single maternal blood and drawn by analyzing fetal cfDNA in prenatal diagnostic procedures is also likely to propel the segment growth.

Also, the liquid biopsy NGS pane is gaining traction among healthcare providers, particularly for treating cancer. The improving framework for using NGS is further supporting their utilization in clinical settings.

By workflow, the Next-generation sequencing services industry can be segmented into data analysis, sequencing, and pre-sequencing. The sequencing segment dominates the market. The segment shared a market volume of 55% in 2022, and it is expected to grow significantly during the predicted period. The high cost of instruments is the primary reason for the growth of the Next-generation Sequencing Services Market. Companies are providing a diverse portfolio for samples.

For instance, Novogene Corporation offers sequencing and publication data for research programs from different domains like environmental sciences, biomedical, and agricultural. NGS services, including the dimensions of sequencing from scratch to final results, are offered in the market.

By technology, the market can be segmented into single-molecule real-time sequencing, pyrosequencing, sequencing by ligation, ion semiconductor sequencing, sequencing by synthesis, and others. Sequencing by synthesis dominates the market.

By application, the Next-generation sequencing services industry can be segmented into agriculture and animal research, personalized medicine, reproductive health, biomarkers, cancer, diagnostics, and others. The biomarker and cancer segment accounts for the largest share of the market.

By product, the market can be segmented into consumables, services, and other consumables.

The consumable segment can further be bifurcated into quality control, library preparation & target enrichment, and DNA fragmentation, end repair, and A-tailing & size selection.

The services segment can be bifurcated into data management services and sequencing services. The consumable segment dominates the market.

By service, the Next-generation Sequencing Services Market can be segmented into animal & plant sequencing services, gene regulation services, microbial genome-based sequencing services, single-cell sequencing services, and human genome sequencing services. Human genome sequencing is expected to be the fastest-growing segment during the forecast period.

Recent Developments:

• Thermo Fisher Scientific, in September 2022, got approval as the first NGS-based companion diagnostic from the Oncomine Dx Target Test to help in therapy selection for patients with RET Mutations/Fusions in thyroid cancers.
• GenoScreen and Illumina, in October 2022, partnered to offer genomic testing for multidrug-resistant tuberculosis to the areas that are badly affected by tuberculosis.

Report Scope

Regional Analysis

North America is expected to hold the largest share of the global market due to the growing trend of routine clinical diagnostic tests. An increase in the number of infectious and chronic diseases is also likely to propel the growth of the regional market. The well-established informative network, along with strict regulatory norms associated with the approval and adoption of genomic tests, is likely to further pave a positive path for the growth of the regional market.

The increasing number of genomic tests approved by the FDA in the US is also predicted to contribute heavily towards the growth of the regional market. Market leaders are boosting their research and development activities to come up with advanced sequencing approaches in the marketplace, which in turn will also support the growth of the regional market.

The strategic collaborations, growing focus on precision medicines, and increasing investments are some of the active support offered by the government and other strong public entities that are projecting the regional market to register a high CAGR during the predicted period.

Competitive Analysis

• New England Biolabs 
• CD Genomics 
• Thermo Fisher Scientific Promega Corporation 
• Zymo Research 
• 10x Genomics 
• Psomagen Inc 
• Pacific Biosciences 
• Brooks Automation 
• Oxford Nanopore Technologies 
• Agilent Technologies 
• PerkinElmer 
• Illumina 

The Next-generation Sequencing Services Market is segmented as follows:

By End-User Segment Analysis

• Hospitals & Clinics
• Pharmaceutical & Biotechnology Companies
• Universities & Research centers

By Workflow Segment Analysis

• Data Analysis
• Sequencing
• Pre-sequencing

By Technology Segment Analysis

• Single-Molecule Real-Time Sequencing
• Pyrosequencing
• Sequencing By Ligation
• Ion Semiconductor Sequencing
• Sequencing By Synthesis

By Application Segment Analysis

• Agriculture & Animal Research
• Personalized Medicine
• Reproductive Health
• Biomarkers
• Cancer Diagnostics

By Product Segment Analysis

• Consumables
• Services
• And Other Consumables

By Service Segment Analysis

• Animal & Plant Sequencing Services
• Gene Regulation Services
• Microbial Genome-Based Sequencing Services
• Single-Cell Sequencing Services
• Human Genome Sequencing Services

By Regional Segment Analysis

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Nordic Countries
    • Denmark
    • Sweden
    • Norway
  • Benelux Union
    • Belgium
    • The Netherlands
    • Luxembourg
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Southeast Asia
    • Indonesia
    • Thailand
    • Malaysia
    • Singapore
    • Rest of Southeast Asia
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America