Global Next Generation Sequencing Market Projected Reach Above USD 12,624.3 Million by 2026

08-Apr-2021 | Facts and Factors

According to the report published by Facts and Factors, the global Next Generation Sequencing market was valued at approximately USD 4,349.2 Million in 2019 and is expected to generate revenue of around USD 12,624.3 Million by end of 2026, growing at a CAGR of around 16.4% between 2020 and 2026.

Next generation sequencing technologies can help scientists recognize a virus mutation by identifying the genetic code. NGS is the most powerful diagnosis and testing instrument in the past to learn the treatment schemes for different diseases such as cancer, infectious diseases, cardiovascular diseases, etc. Accordingly, most rare disorders in 2017 were genetics, according to the United States National Institutes of Health, National Human Genome Research Institute. Diseases at the genomic and molecular level have continued to be understood and numerous businesses are using the tools to test these diseases and seize the possibilities that drive business opportunities. For example, in August 2020 GeneDx, a subsidiary of BioReference Laboratories Inc. and OPKO Health concluded with the Pediatrix Medical Group, a new wave of genome sequencing systems aimed at promoting the use of neonatal intensive health care units for unusual diseases in clinical diagnoses. Also, the EndoPrediction test for patients with ER+ HER2- early-stage breast cancer was initiated by Myriad Genetics Inc. in 2017.

In January 2020, USD 23 million was donated to the Wide Institute, Harvard University, and DNA Script through the Intelligence Advanced Research Projects Operation. For four years, the organizations have been working together to investigate how enzymatic DNA and NGS synthesis systems can be integrated into one tool. These innovations are an important driver of the innovation of clinical trials and NGS organizations.

Report Scope

Top Market Players

Major players in the market are Hoffmann-La Roche, Thermo Fisher Scientific Inc., Qiagen, PerkinElmer Inc., Macrogen Inc., Illumina Inc., Eurofins Scientific, Pacific Biosciences of California Inc., DNASTAR Inc., Bio-Rad Laboratories Inc., and Agilent Technologies among others.

Diversified Applications of Next-Generation Sequencing in Diagnostics, are Driving the Market

The lower cost of the sequence has expanded the use of NGS in disease diagnosis. For the non-invasive pre-natal examination, cancer screening, genetically engineered tests, and other items that are leading the world market, numerous test kits and health services emerge. In addition, active regulatory funding for such diagnostic testing, through product clearance and enhanced coverage, is projected to create additional opportunities for business development. In the forecast timeframe, it is also projected to further improve the prevalence of chronic diseases, increase research, and launch high-budget genomics 0 programs.

The growing demand for quick, cost-effective, and reliable analysis of DNA data sequences has led to the birth and predominance of the NGS industry as it enables large DNA sequences in a single process that enables disease and study diagnosis. Genomics is one of the most important contributions to the next generation series. This industry is expected to be promoted by initiating genomics programs in many countries, such as the UK, Qatar, and others. The introduction of NGS-based diagnostics and active public interest are both the main drivers of business growth.

In the field of genome sequencing, there are also different technological advances that drive market growth. As an example, Macaon Diagnostics began in February 2019 with a 48-hour genetic panel on STAT hemophagocytic lymphohistiocytosis, a common condition for young children and children triggered by cancer. These innovations in the sequencing and diagnostics sector of major players and their engagement with revolutionary, upcoming companies are driving the growth of the overall genome sequencing segment.

COVID-19 Impact on Next Generation Sequencing Market

Over the course of the COVID19 pandemic, worldwide government agencies continue to collaborate with the private sector to market NGS technologies as a new method for diagnostics. As part of the first COVID-19 diagnostic test using next-generation sequence technologies, Illumina Inc. granted an Emergency Use Authorization in June 2020 by the United States Food and Drug Administration (US FDA). The growth of the overall market is projected to drive key factors such as rising R&D activities using NGS technologies, increasing NGS applications in clinical diagnostics, and challenging applications for discoveries using NGS technology.

North America Region Dominates the Global Next Generation Sequencing Market

With a sales share of 43.19% in 2020, North America led the global economy. The regional demand is driven by the involvement of many clinical laboratories using NGS to provide genetic testing services. Furthermore, the introduction and launch of new goods by leading North American companies fuel business demand. For example, Quest Diagnostics released the AncestryHealth Automated NGS Engine in August 2020, consumer genetics offered by Ancestry. The network includes genetic testing of the risk for blood conditions, colon cancer, breast cancer, and cardiac disorders.

It is anticipated that the Asia Pacific will be the fastest-growing regional market between 2020 and 2026. The presence in Asia-Pacific is projected to be driven by local companies including BGI Genomics and GNS services providers like First BASE Laboratories Sdn Bhd, Macrogen Asia Pacific, and others. More than 5,500 physicians and 1,600 hospitals in South Asia and India are provided with NGS facilities by MedGenome Labs Ltd.

Browse the full “Next Generation Sequencing Market By Application (Oncology, Clinical Investigation, Reproductive Health, Metagenomics, Epidemiology & Drug Development, Consumer Genomics, Agrigenomics & Forensics, and HLA Typing/Immune System Monitoring) By Technology(Whole Genome Sequencing, Whole Exome Sequencing, and Targeted Sequencing & Resequencing)By End-Use (Academic Research, Clinical Research, Hospitals & Clinics, Pharma & Biotech Entities, and Other users): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026”  report at https://www.fnfresearch.com/next-generation-sequencing-ngs-market-by-products-and-148

The global Next Generation Sequencing market is segmented as follows:

By Application:

• Oncology
• Clinical Investigation
• Reproductive Health
• Metagenomics
• Epidemiology & Drug Development
• Consumer Genomics
• Agrigenomics & Forensics
• HLA Typing/Immune System Monitoring

By Technology:

• Whole Genome Sequencing
• Whole Exome Sequencing
• Targeted Sequencing & Resequencing

By End Use:

• Academic Research
• Clinical Research
•  Hospitals & Clinics
• Pharma & Biotech Entities
• Other users

By Region:

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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