Next-generation sequencing market predicted to be worth $14.8 billion by 2030: Grand View Research, Inc.

SAN FRANCISCO, Nov. 24, 2022 /PRNewswire/ — 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 from Grand View Research, Inc. Next Generation Sequencing (NGS) can be defined as a technique for determining the sequence of DNA or RNA to understand the genetic variations responsible for disease and other biological phenomena.

Insights and key industry findings from the report:

  • NGS is cheaper than conventional Sanger sequencing technology, while offering higher DNA sequencing throughput. The industry is being positively driven by increasing automation in pre-sequencing and post-sequencing protocols, as well as in the aspect of data analysis.
  • The rapidly growing area of ​​personalized medicine and the developing space of accompanying diagnostics are some of the trends defining the advancement of the next generation sequencing industry, while also technological aspects such as cloud computing and the integration of data has played a significant role in shaping the growth of the market.
  • Oncology Applications segment made the most significant market contribution by revenue in 2021. The growing incidence of cancer worldwide is the major factor driving the growth of the segment; according to GLOBOCAN 2020, approximately 19.3 million new cancer cases emerged in 2020, which is expected to rise to 28.9 million by 2040.
  • In terms of technology used, the Target Sequencing and Resequencing segment is expected to be the dominant contributor to market revenue with approximately 75% share in 2021, aided by a number of notable companies such as Illumina and Pacific Biosciences that provide services in this ‘area.
  • On a workflow basis, the sequencing segment accounted for the highest market share in 2021, being the most critical workflow stage. The systems involved in this step perform the necessary functions such as changing tubes and microwell plates to streamline the workflow; moreover, the supply of an accurate amount of liquid, which is very important, can also be done by these systems.
  • The clinical research end-user segment is projected to advance at a substantial rate during the projection period; segment growth is driven by the increasing use of next-generation sequencing in cancer research and the discovery of cancer-related genes. In addition, clinical research solutions have been launched at a rapid pace by companies such as Thermo Fisher and Agilent Technologies, which is another growth enabler.
  • North America led the market with more than 49% revenue share in 2021, aided by the extensive use of NGS in multiple clinical laboratories for genetic testing services. Furthermore, the presence of well-established healthcare infrastructure and significant R&D investments in this space are driving the regional market.
  • Companies involved in the NGS space look to partnerships and the launch of new products and services to reclaim their position in the market. For example, Illumina, one of the big names in this area, announced the launch of the NovaSeq X series of production-scale sequencers that are expected to aid advances in genomic discovery and improve patient outcomes.

Read the 300 page market research report, »Next Generation Sequencing Market Size, Trend and Share Analysis Report by Technology (Targeted Sequencing and Resequencing), by Application (Oncology, Consumer Genomics), by Workflow, by Product, by End-Use, by region and segment forecasts, 2022 – 2030published by GrandView Research.

Growth and trends of the next generation sequencing market

NGS aids in the proper interrogation and analysis of up to thousands of genes in multiple samples simultaneously which has made it very attractive for use in hospitals and clinics as well as for research purposes. The technique is being continuously integrated into the healthcare environment, disease screening and diagnosis, while also being used extensively to accelerate the drug research process in the personalized medicine space.

The COVID-19 pandemic has been a major enabler for the progress of the industry, with pharmaceutical and biotech companies making significant moves in the test kit and vaccine space in recent years. A notable example is the use of MinION Mk1C by a research group in China for sequencing the COVID-19 sample; the product was developed by Oxford Nanopore Technologies of the United Kingdom. Furthermore, during the first wave of the pandemic, in June 2020, the U.S. FDA has granted Emergency Use Authorization to the Illumina COVIDSeq assay, which was developed to qualitatively identify SARS-CoV-2 RNA. These are just a couple of examples that highlight the importance of next-generation sequencing during this time; as a result, their demand is expected to grow steadily in the near future. NGS offers several benefits such as accurate and rapid sample analysis while being cost-effective, which has led to its strong promotion by governments and private organizations to combat a variety of ailments.

A typical next-generation sequencing experiment involves basic steps that include building a sequencing library from the sample, clonal amplification of the DNA library to enhance signal detection from the target, sequencing each DNA in the library by a sequencing tool, and data analysis. Application areas of NGS include diagnostics and screening in the oncology segment, clinical investigation of hereditary and infectious diseases, and reproductive health. Additionally, the technique is also widely used in drug development, the consumer genomics and metagenomics space, as well as the department of agrigenomics and forensics. A number of developed and developing nations are investing heavily in their national projects for population genome mapping, which is expected to play a role in boosting the advancement of the NGS market.

Segmentation of the next generation sequencing market

Grand View Research segmented the global Next Generation Sequencing market based on technology, workflow, application, end use, and region:

Next Generation Sequencing Market – Technology Outlook (Revenue, USD Million, 2018-2030)

  • WGS extension
  • Whole exome sequencing
  • Targeted sequencing and resequencing

Next Generation Sequencing Market – Product Outlook (Revenue, USD Million, 2018-2030)

  • platforms
  • Consumables
    • sample preparation
    • Target enrichment
    • Other

Next Generation Sequencing Market: Applications Outlook (Revenue, USD Million, 2018-2030)

  • Oncology
    • Diagnostics and Screening
      • Cancer screening
        • Sporadic cancer
        • Hereditary cancer
      • Companion diagnostics
      • Other diagnostics
    • research studies
  • Clinical investigation
    • Infectious diseases
    • Hereditary diseases
    • Idiopathic diseases
    • Non-communicable/other diseases
  • Reproductive health
    • NIPT
      • Aneuploidy
      • Microdeletions
    • PGT extension
    • Newborn genetic screening
    • Analysis of a single gene
  • HLA Typing/Immune System Monitoring
  • Metagenomics, epidemiology and drug development
  • Agrigenomics and forensic medicine
  • Consumer genomics

Next Generation Sequencing Market – Workflow Outlook (Revenue, USD Million, 2018-2030)

  • Pre-sequencing
    • NGS Library Prep Kit
    • Semi-automatic library preparation
    • Automatic library preparation
    • clonal amplification
  • sequencing
  • NGS data analysis
    • NGS primary data analysis
    • NGS secondary data analysis
    • NGS Tertiary Data Analysis

Next-Generation Sequencing Market: End-Use Outlook (Revenue, USD Million, 2018-2030)

  • academic research
  • Clinical research
  • Hospitals and clinics
  • Pharmaceutical and biotechnology entities
  • other users

Next-Generation Sequencing Market – Regional Outlook (Revenue, USD Million, 2018-2030)

  • North America
  • Europe
    • UK
    • Germany
    • Italy
    • Spain
    • France
  • Asia Pacific
    • Japan
    • China
    • India
    • South Korea
    • Australia
  • Latin America
  • Middle East & Africa
    • South Africa
    • Saudi Arabia

List of Major Players in Next Generation Sequencing Market

  • Illuminate
  • F. Hoffmann-La Roche Ltd.
  • QIAGEN
  • Thermo Fisher Scientific, Inc.
  • Bio-Rad Laboratories, Inc.
  • Oxford Nanopore Technologies
  • PierianDx
  • Genomatix GmbH
  • DNASTAR, Inc.
  • PerkinElmer, Inc.
  • Eurofins GATC Biotech GmbH
  • BGI extension

Check out other related studies published by Grand View Research:

  • Next Generation Sequencing Library Preparation MarketThe global next generation sequencing library preparation market size is expected to reach USD 3.78 billion by 2030, according to a new report from Grand View Research, Inc. The market is projected to experience a CAGR of 13.16% from 2023 to 2030, due to rising prevalence of genetic diseases, decreasing cost of sequencing and the increasing use of NGS in disease diagnostics.
  • Next Generation Sequencing Data Analysis Market – Global Next Generation Sequencing Data Analysis Market is expected to catch up USD 1.54 billion by 2030, registering a CAGR of 12.69% over the forecast period, according to a new report from Grand View Research, Inc. The growth can be attributed to a significant drop in the cost of installing NGS in clinical diagnosis. Furthermore, the accessibility of genomic and proteomic data is expected to create significant growth opportunities.
  • Next generation sequencing services market – The global market size of next generation sequencing services is expected to reach $4.55 billion by 2030, according to a new report from Grand View Research, Inc. It is projected to expand at a CAGR of 18.3% from 2022 to 2030. The development of next-generation sequencing (NGS) technologies has revolutionized gene sequencing in terms of reproducibility and cost savings.

Browse research reports on the biotech industry from Grand View Research.

About Grand View Research

Grand View Research, a US-based market research and consulting firm, provides syndicated and custom research reports and consulting services. Registered to California and based in San Francisco, the company includes over 425 analysts and consultants, who add more than 1200 market research reports to its extensive database each year. These reports offer in-depth analysis on 46 industries in 25 major countries around the world. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutions understand the global and regional business environment and assess the opportunities ahead.

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