Global Next-generation Sequencing Services Market Share Is Likely To Reach At A CAGR Value Of Around 22.56% By 2030

25-May-2023 | Facts and Factors

According to the Facts & Factors report, 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 2030 during the forecast period. The global next-generation sequencing services market is expected to grow with a CAGR of  22.56% between 2023-2030. The global next-generation sequencing services market report covers all aspects, including the potential growth drivers, restraints, and leading market players. Also, it offers detailed key insights into the opportunities and challenges in the market environment.

Next-generation sequencing technology is utilized to improve the non-conventional and conventional applications to extract deep insights at the genome levels. NGS is able to leverage the existing applications because of the improvements in analytical solutions, services, ancillary protocols, and automation in this aspect. These upgrades offer scope for implementing next-generation sequencing technology in clinical workflows. Also, it is an impartial and effective technique to identify new Covid variants and other wide range of pathogens without knowing the organism beforehand.

Browse the full “Next-generation Sequencing Services Market Size, Share, Growth Analysis Report By End-User (Hospitals & Clinics, Pharmaceutical & Biotechnology Companies, and Universities & Research Centers), By Workflow (Data Analysis, Sequencing, and Pre-sequencing), By Technology (Single-Molecule Real-Time Sequencing, Pyrosequencing, Sequencing By Ligation, Ion Semiconductor Sequencing, Sequencing By Synthesis), By Application (Agriculture & Animal Research, Personalized Medicine, Reproductive Health, Biomarkers, Cancer, Diagnostics), By Product (Consumables, Services, and Other Consumables), By Service (Animal & Plant Sequencing Services, Gene Regulation Services, Microbial Genome-Based Sequencing Services, Single-Cell Sequencing Services, Human Genome Sequencing Services), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2023 – 2030” report at https://www.fnfresearch.com/next-generation-sequencing-services-market

The global next-generation sequencing services market is expected to grow significantly due to the growth in genome mapping programs. These projects are expected to expand significantly in the US during the predicted period. Furthermore, the increasing demand for accurate and fast DNA sequencing data interpretation is likely to widen the scope of the NGS industry during the forecast period. It is the cost-effective method that allows the sequencing of DNA in a single run on a mass scale.

Additionally, the growing number of drug discovery applications, along with the increasing usage in clinical diagnosis, is expected to further boost the growth of the market. The growth in investments by the government, along with the growing disposable income of the people, is likely to spike the demand for next-generation sequencing technology in the market.

Also, companies are developing more advanced technology on sequencing platforms, which will offer more opportunities in the Global next-generation sequencing services market. However, the market requires skilled professionals to analyze the output of next-generation sequencing technology. Still, the lack of advanced staff in the healthcare sector is likely to further limit the growth of the market.

Segmental Overview:

The global next-generation sequencing services market can be segmented into product, service, end-user, technology, application, workflow, and region.

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. However, the consumables segment holds the largest share of the Global next-generation sequencing services market due to the increasing demand for reagents and kits for sequencing procedures.

The development of molecular genetics and the increase in the demands for novel pre-sequencing products for executing size selection, target enrichment, DNA fragmentation, and others will also contribute heavily towards the growth of the segment. Also, the service segment is expected to see huge growth during the forecast period because of the growing usage of cloud computing for NGS data storage and advancement in SMRT sequencing technology.

By service, the Global 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, human genome sequencing services, and others.

Human genome sequencing is likely to be the fastest-growing segment in the Global next-generation sequencing services market. It covered around 31% of the market in 2022. It is the most practiced segment. However, the majority of market leaders operating in the segment spike the growth rate of the segment. Companies dealing in this segment include Full genomes.com, Veritas Genetics, SureGenomics, and BGI-Complete Genomics, among others.

However, the gene regulations segment is also expected to grow significantly during the forecast period. The segment holds a share of 25% in 2022. The growth of the segment is attributed to the wide number of advantages offered by RNA sequencing. It helps to substitute the microarrays in a wide range of applications.

However, RNA sequencing is expected to expand significantly in the forthcoming years and consequently offer high growth opportunities to the segment during the forecast period. Gene regulation services include bisulfite sequencing, isoform sequencing, lncRNA seq, ChIP-sequencing, and small RNA sequencing.

By end-user, the market can be segmented into hospitals and clinics, pharmaceutical and biotechnology companies, universities and research centers, and others. The universities and research centers segment holds the largest share of the Global next-generation sequencing services market.

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

By workflow, the market can be segmented into data analysis, sequencing, and pre-sequencing. The sequencing segment accounts for the largest share of the market.

Regional Overview:

North America is likely to dominate the next-generation sequencing services market during the predicted period. The growing prevalence of chronic diseases due to changing lifestyles of the people in the region is likely to be a major factor driving the growth of the regional market. The growing fundings by the government and constant product development are likely to further boost the regional market growth. The growing incidences of cancer, along with increasing spending on cancer genomics, are also likely to boost regional market growth. The increasing technological advancements and research studies on next-generation sequencing platforms will also widen the scope of the regional market.

Report Scope

Competitive Landscape:

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, and Illumina.

Recent Developments:

• Illumina, in October 2022, collaborated with AstraZeneca. This strategic collaboration helps enhance the efficiency of pharma companies’ pipelines by upgrading their capability to find genetic variants contributing to human diseases.
• Thermo Fisher Scientific in March 2022 introduced an Ion Torrent Genexus Dx Integrated Sequencer marked by CE-IVD. It helps deliver results in as little as a day. It is an automated next-generation sequencing (NGS) platform.

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

By End-User

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

By Workflow

• Data Analysis
• Sequencing
• Pre-sequencing

By Technology

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

By Application

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

By Product

• Consumables
• Services
• And Other Consumables

By Service

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

By Region

• 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

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