Global Next Generation Sequencing Market Share Projections: CAGR of 19.24% Envisions Market Size of $48.01 Billion by 2032

The surge in the automation for the pre-sequencing protocols, post-sequencing protocols, and data study is positively influencing the NGS market. The growing focus on personalized medicine and companion diagnostics, advancements in technology like cloud computing and data integration, and the growing availability of genomic and proteomic data offer huge opportunities for the Next Generation Sequencing market.

Newark, Dec. 14, 2023 (GLOBE NEWSWIRE) — As per the report published by The Brainy Insights, the global Next Generation Sequencing market is expected to grow from USD 8.26 Billion in 2022 to USD 48.01 Billion by 2032, at a CAGR of 19.24% during the forecast period 2023-2032.

NGS has completely transformed the biological sciences, helping the labs to work on a wide variety of applications and research on biological systems at a level that was not possible earlier. NGS helps the lab rapidly sequence the whole genomes and deeply sequence the target regions. It also has the application of using RNA sequencing for discovering novel RNA variants and merging the sites.

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Competitive Strategy

To enhance their market position in the global Next Generation Sequencing market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.

• In January 2023: QIAGEN has acquired Verogen, a leading organization that uses next-generation sequencing (NGS) technologies to drive the future of forensic investigation and human identification (HID). This acquisition has allowed the organization to help investigators and researchers in advanced forensic science find the missing person and accurately identify suspects.

Market Growth & Trends

NGS is broadly used for personalized medicine, and it helps accelerate the drug research process. The unmet clinical requirement for a better tool for predicting, treating, diagnosing, and monitoring disease and progressively efficient sequencing technologies are some of the factors driving the Next Generation Sequencing Market. Also, a growing understanding of the molecular basis of disease, investment by the industries, patient demand and the regulations that support the marketing of tests without the need for FDA authorization fuel the market’s growth. Different potential sequencing techniques like RNA sequencing, whole exome and targeted sequencing and whole-genome sequencing, among others, are broadly used by researchers to obtain a complete sample analysis. Also, compared to conventional Sanger sequencing technology, the NGS is less costly and offers increased throughput for DNA sequencing. The surge in the automation for the pre-sequencing protocols, post-sequencing protocols, and data study is positively influencing the NGS market. It is used in the labs for sequencing cancer samples and studying rare somatic variants and tumour subclones. It is also used to study the human microbiome and identify novel pathogens.

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Key Findings

• In 2022, Reversible terminator sequencing/ Sequencing by Synthesis segment dominated the market with the largest market share of 77.11% and market revenue of USD 6.37 Billion.

The technology segment is divided into Ion torrent semiconductor sequencing & SOLID, Reversible terminator sequencing/ Sequencing by Synthesis, Single Molecule real time sequencing, Nanopore technologies and Others. In 2022, Reversible terminator sequencing/ Sequencing by Synthesis segment dominated the market with the largest market share of 77.11% and market revenue of USD 6.37 Billion. This significant market share is because Reversible terminator sequencing is broadly used in the NGS techniques with the sequencing by the synthesis method.

• In 2022, the oncology segment dominated the market with the largest market share of 29.11% and market revenue of USD 2.41 Billion.

The application segment is divided into oncology, clinical investigation, reproductive health, metagenomics, epidemiology & drug development, HLA typing/immune system monitoring, consumer genomics and agrigenomics & forensics. In 2022, the oncology segment dominated the market with the largest market share of 29.11% and market revenue of USD 2.41 Billion. The surge in the prevalence of cancer cases has led to the use of the latest technology to help oncologists gain a better understanding of the mechanics of tumour cells and cancer.

• In 2022, the academic research segment dominated the market with the largest market share of 53.01% and market revenue of USD 4.38 Billion.

The end user segment is divided into academic research, clinical research, hospitals and clinics, pharma & biotech entities and others. In 2022, the academic research segment dominated the market with the largest market share of 53.01% and market revenue of USD 4.38 Billion. This market share is attributed to using NGS solutions in many research projects in universities and research centres.

Regional Segment Analysis of the Next Generation Sequencing Market:

• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

The North America region occurred as the largest market for the global Next Generation Sequencing industry, with a market share of 49.13% and a market value of around USD 4.06 Billion in 2022. It is attributed to several regional clinical laboratories that use Next Generation Sequencing to offer genetic testing services. Also, there is a huge investment in R&D, and there is a good framework of technologically advanced healthcare research along with the development of whole genome sequencing (WGS) in the region.

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Key players operating in the global Next Generation Sequencing market are:

• BGI
• Oxford Nanopore Technologies
• QIAGEN
• Illumina
• Genomatix GmbH
• Thermo Fisher Scientific, Inc.
• Bio-Rad Laboratories, Inc.
• Eurofins GATC Biotech GmbH
• PierianDx
• F. Hoffman-La Roche Ltd.
• Perkin Elmer, Inc.
• DNASTAR, Inc.

This study forecasts revenue at global, regional, and country levels from 2019 to 2032. The Brainy Insights has segmented the global Next Generation Sequencing market based on below mentioned segments:

Global Next Generation Sequencing Market by Technology:

• Ion torrent semiconductor sequencing & SOLID
• Reversible terminator sequencing/ Sequencing by Synthesis
• Single Molecule real time sequencing
• Nanopore technologies
• Others

Global Next Generation Sequencing Market by Application:

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

Global Next Generation Sequencing Market by End User:

• Academic Research
• Clinical Research
• Hospitals and Clinics
• Pharma & Biotech Entities
• Others

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About the report:

The global Next Generation Sequencing market is analysed based on value (USD Billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.

About The Brainy Insights:

The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients’ objectives of high-quality output within a short span of time. We provide both customized (clients’ specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients’ requirement whether they are looking to expand or planning to launch a new product in the global market.

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