Next Generation Sequencing Market Growth and Report
The ‘Global Next Generation Sequencing Market Growth, Share, Size, Price, Trends, Report and Forecast 2023-2031’ by Expert Market Research gives an extensive outlook of the global next generation sequencing market, assessing the market on the basis of its segments like type, consumables, applications, end users, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Next Generation Sequencing Market Price, Share, Size, Growth, Trends, Industry Report, Key Player, Major Segments and Forecast
The key highlights of the report include:
Market Overview (2016-2031)
• Forecast CAGR (2023-2031): 11.21%
• Forecast Market Size (2031): Nearly USD 15.87 Billion
As next generation sequencing combines the advantages of bioinformatics technology, diverse sequencing matrices, and unique sequencing chemistries, it effectively sequences RNA and DNA in a short period of time. Next generation sequencing can interrogate various targets simultaneously, due to which it is extensively utilised in clinical applications. Some of the major next generation sequencing market drivers include advancements in new sequencing technologies, increasing drug discovery activities, and surging genome mapping activities.
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There is a growing utilisation of next generation sequencing technology for determining RNA and DNA sequences to determine the association of genetic variations with biological phenomena and diseases. Various advantages associated with next generation sequencing, including ideal throughput per run, cost-effectiveness, high accuracy, low sample input requirements, and ability to detect variants at allele frequencies, among others, are boosting its demand in genetic analysis, forensic science, and clinical and genomic research activities.
The next generation sequencing market is being favoured by investments in genomic mapping by various governments for gaining valuable insights regarding the association of diseases with heredity. The surging R&D activities to advance the medical sector, improve health outcomes, and enhance the quality of life of the people are likely to further boost the utilisation of next generation sequencing technology in the forecast period.
Next Generation Sequencing Industry Definition and Major Segments
Next generation sequencing, variously known as NGS, refers to a parallel sequencing technology that is utilised for determining the order of nucleotides in targeted RNA and DNA and genomes. It has revolutionised diagnostics and research, and the technology enables laboratories to easily identify novel pathogens, utilise RNA sequencing, rapidly sequence genomes, and analyse epigenetic factors, among others.
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Based on type, the market is divided into:
• DNA Sequencing
o Whole Genome Sequencing
o Targeted Sequencing
o Whole Exome Sequencing
o Hybridisation Capture
o Amplicon Sequencing
o Molecular Inversion Probes (MIPs)
• RNA Sequencing
o Whole Transcriptome Sequencing (WTS)
o Targeted Gene Expression with RNA Sequencing
o Ribosomal RNA Depletion
By consumables, the next generation sequencing market is divided into:
• Sample Preparation
o DNA Fragmentation
o End Repair
o Size Selection
o Library Preparation
o Target Enrichment
o Quality Control
• Other Consumables
o Ion Torrent
o Pacbio Rs II and Sequel System
o Other Platforms
The market, based on application, is segmented into:
• Drug Discovery and Development
• Biomarker Discovery
• Biopharmaceutical Development
• Vaccine Development
Based on end-user, the market is categorised into:
• Clinical Research
• Academic Research
• Pharmaceutical and Biotechnology Companies
The major regions of next generation sequencing market include:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Next Generation Sequencing Market Trends
The increasing importance of genomics-focused pharmacology in cancer treatment is driving the use of next generation sequencing for obtaining precise information regarding the molecular underpinning of individual tumours. The growing popularity of targeted therapies in oncology care is also bolstering interest in NGS-driven companion diagnostics for enabling efficient treatment selection and enhancing patient outcomes, which is expected to positively influence the next generation sequencing market development in the coming years.
The enhanced sensitivity, accuracy, precision, and speed offered by next generation sequencing is also surging its demand in cancer treatment and diagnostics to eliminate the requirement of multiple tests for the identification of causative mutation. With the growing variants of cancer, the utilisation of next generation sequencing for efficiently investigating mutations associated with cancer prognosis and risk is likely to increase.
Researchers are increasingly using next generation sequencing to analyse the circulating tumour cells and DNA for monitoring cancer, which is expected to revolutionise cancer care and diagnosis by facilitating early and precise diagnosis and surging survival rates of cancer patients. In addition, the rising focus to develop personalised treatment methods for oncology care is anticipated to drive the next generation sequencing market demand.
Key Market Players
The major players in the next generation sequencing market report are:
- Illumina Inc.
- F. Hoffmann-La Roche Ltd.
- Thermo Fisher Scientific, Inc.
- Bio-Rad Laboratories, Inc.
- Oxford Nanopore Technologies
- Genomatrix GmbH
- DNASTAR, Inc.
- Perkin Elmer, Inc.
- Eurofins GATC Biotech GmbH
- Agilent Technologies, Inc.
- 10X Genomics, Inc.
- Danaher Corp.
- Bechman Coulter, Inc.
- BGI Genomics
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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