Next Generation Sequencing (NGS) Market Size to Reach USD 29,307.13 Million Globally with Growing CAGR of 17.1% by 2029
The persuasive Global Next Generation Sequencing (NGS) Market report suggests that the key market players are making moves like product launches, joint ventures, developments, mergers and acquisitions which has influence on the market and Healthcare industry as a whole and also affecting the sales, import, export, revenue and CAGR values. The market data analysed and evaluated in this market report makes achieve business goals and objectives in preset time frame. Painstakingly analysed market segmentation aspect provides a clear idea about the product consumption based on numerous factors ranging from type, application, deployment model, end user to geographical region.
An international Global Next Generation Sequencing (NGS) Market survey report additionally encompasses predictions utilizing a practical arrangement of uncertainties and techniques. With this market report study, key opportunities in the market and influencing factors are provided which is useful to take the business to the highest level.
The global next generation sequencing (NGS) market is experiencing rapid growth, driven by advancements in genomics research, increasing applications in clinical diagnostics, and rising demand for precision medicine. NGS technology offers high-throughput sequencing, enabling the rapid and cost-effective analysis of large volumes of DNA and RNA. It provides a deeper understanding of genetic variations, disease mechanisms, and personalized medicine. NGS platforms offer scalability, allowing for a wide range of applications in research, clinical diagnostics, and agriculture
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The global next generation sequencing (NGS) market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses that the market is growing with a CAGR of 17.1% in the forecast period of 2022 to 2029 and is expected to reach USD 29,307.13 million by 2029. Wide portfolio offered by major players and use of NGS in drug development is expected to act as driver for the next generation sequencing (NGS) market growth.
Growing applications in clinical diagnostics is expected to drive the market’s growth rate
Next generation sequencing (NGS) is revolutionizing clinical diagnostics by enabling comprehensive genetic analysis. It allows simultaneous sequencing of numerous genes, facilitating the identification of disease-causing genetic variants. NGS is instrumental in detecting and diagnosing genetic disorders, infectious diseases, cancer subtypes, and determining patient-specific drug responses. The ability to analyze a vast number of genes enhances diagnostic accuracy, enables personalized treatment decisions, and improves patient outcomes by providing targeted therapies and individualized healthcare strategies.
Major Players
Data Bridge Market Research recognizes the following companies as the major global next generation Sequencing (NGS) market players in global next generation sequencing (NGS) market are Thermo Fisher Scientific, Inc. (U.S.), QIAGEN (Germany), Illumina, Inc. (U.S.), Bio-Rad Laboratories, Inc. (U.S.), Roche Sequencing (U.S.), BGI (China), Oxford Nanopore Technologies plc (U.K.), MACROGEN CO., LTD. (South Korea), DNASTAR (U.S.)
Market Development
- In 2023, Together with Geneyx, an AI platform, Oxford Nanopore Technologies Plc, a developer of nanopore sequencing technology, unveiled a scalable software solution for advancing next-generation nanopore sequencing technology.
- In 2023, Thermo Fisher Scientific, Inc., a leader in providing scientific services globally, unveiled the Thermo ScientificTM OrbitrapTM Astral mass spectrometer, a high-speed and resolution improvement for finding the newest proteins, as well as advancements in precision medicine.
- In 2023, QIAGEN N.V, a worldwide molecular sample insights provider, declared its strategic partnership with Servier, a global pharmaceutical company, for the development of a companion diagnostic trial for TIBSOVO®, an isocitrate dehydrogenase-1 (IDH 1) inhibitor.
- In 2022, DNASTAR, Inc., a global bioinformatics software company, launched Lasergene 17.4 software with the latest functionality for multiple next-generation sequencing alignments. In addition, the software also includes various sequence assembly and sequence editing applications.
- In 2022, PierienDx, a pioneer in clinical genomics technology, announced a collaboration with P4 Diagnostix, a premier network of labs, to support physician-owned labs.
- In 2022, An agreement for joint marketing with Gencove, a platform for genome sequencing, was announced by BGI Americas Corporation, a division of BGI Genomics Co. Ltd.
- In 2020, Agilent Technologies, Inc. launched three new microarrays to address the requirements of prenatal and postnatal research in cytogenetic laboratories. These new products launched by the company increases its NGS product portfolio leading to increased demand for its products in future.
- In 2020, Twist Bioscience launched its new NGS solution named Twist Targeted Methylation Sequencing Solution which aids to study methylation pattern changes in the wide range of research fields including cancer, epigenetics and non-invasive prenatal testing.
Report Scope and Market Segmentation
| Report Metric | Details |
| Forecast Period | 2022 to 2029 |
| Base Year | 2021 |
| Historic Years | 2020 (Customizable to 2014-2019) |
| Quantitative Units | Revenue in USD Million, Volumes in Units, Pricing in USD |
| Segments Covered | Product (Instruments, Consumables and Services), Applications (Diagnostics, Biomarker Discovery, Precision Medicine, Drug Discovery, Agriculture and Animal Research and Others), End User (Pharmaceutical and Biotechnology Companies, Research Centers and Academic and Government Institutes and Hospital and Clinics) |
| Countries Covered | U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America. |
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The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the this research report
- Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and product launches in the market
- Competitive Assessment: In-depth assessment of the market strategies, and geographic and business segments of the leading players in the market
- Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
Top Key Topics Covered:
- Strategic Imperatives
- Factors Creating Pressure on Growth
- The Strategic Imperative
- Growth Opportunities Fuel the Growth Pipeline Engine
- Research Methodology
- Scope and Segmentation
- Research Context and Scope of Analysis
- Segmentation
- Other Techniques for This Research Report Management
- Growth Opportunity Analysis
- Growth Drivers
- Growth Restraints
- Introduction
- The Impact of the COVID-19 Pandemic and Post
- Future Growth
- Innovation Ecosystem
Continued…
Segment Analysis:
The global next generation sequencing (NGS) market is segmented on the basis of product, application, and end user.
- On the basis of product, the global next generation sequencing (NGS) market is segmented into instrument, consumables, and services. Consumables dominates the product segment of the market with a CAGR of 18.8% in the forecast period of 2022 to 2029 due to reagents, kits, and consumable supplies required for sample preparation, library construction, and sequencing processes, driving consistent demand and revenue generation in the market.
In 2022, Consumables dominate the product segment of the global next generation sequencing (NGS) market
In 2022, consumables dominate the product segment of the global next generation sequencing (NGS) market owing to the supplies such as reagents, kits, and consumables are needed for sample preparation, library creation, and sequencing procedures, resulting in steady market demand and revenue generation with a CAGR of 18.8% in the forecast period of 2022 to 2029.
- On the basis of application, the global next generation sequencing (NGS) market is segmented into diagnostic, drug discovery, biomarker discovery, precision medicine, agriculture and animal research. Precision medicine dominates the application segment of the global next generation sequencing (NGS) market with a CAGR of 19.4 % in the forecast period of 2022 to 2029 due to tailored medical treatments and interventions to an individual’s specific characteristics, genetic makeup, and lifestyle, resulting in personalized and targeted therapies that improve patient outcomes and reduce healthcare costs.
In 2022, the precision medicine dominates the application segment of the global next generation sequencing (NGS) market
In 2022, the precision medicine dominates the application segment of the global next generation sequencing (NGS) market owing to the individualized care based on a person’s genetic profile, improving diagnostic precision, and advancing targeted therapies for different diseases with a CAGR of 19.4 % in the forecast period of 2022 to 2029.
- On the basis of end user, the global next generation sequencing (NGS) market is segmented into hospitals and clinics, research centers and academic and government institutes, pharmaceutical and biotechnology companies. Hospitals and clinics dominates the end user segment of the global next generation sequencing (NGS) market with a CAGR of 19.5% in the forecast period of 2022 to 2029 due to presence in healthcare as primary healthcare providers, offering a wide range of medical services, diagnostics, treatments, and specialized care to patients, thereby playing a vital role in disease management, preventive healthcare, and overall patient well-being.
TOC:
1 INTRODUCTION
1.1 OBJECTIVES OF THE STUDY
1.2 MARKET DEFINITION
1.3 OVERVIEW OF GLOBAL NEXT GENERATION SEQUENCING (NGS) MARKET
1.4 CURRENCY AND PRICING
1.5 LIMITATIONS
1.6 MARKETS COVERED
2 MARKET SEGMENTATION
2.1 MARKETS COVERED
2.2 GEOGRAPHICAL SCOPE
2.3 YEARS CONSIDERED FOR THE STUDY
2.4 DBMR TRIPOD DATA VALIDATION MODEL
2.5 PRIMARY INTERVIEWS WITH KEY OPINION LEADERS
2.6 MULTIVARIATE MODELLING
2.7 MARKET APPLICATION COVERAGE GRID
2.8 PRODUCT TYPE LIFELINE CURVE
2.9 DBMR MARKET POSITION GRID
2.1 VENDOR SHARE ANALYSIS
2.11 SECONDARY SOURCES
2.12 ASSUMPTIONS
3 EXECUTIVE SUMMARY
3.1 PESTEL’S ANALYSIS
3.2 PORTER’S FIVE FORCES MODEL
4 REGULATIONS OF GLOBAL NEXT GENERATION SEQUENCING (NGS) MARKET
5 MARKET OVERVIEW
6 IMPACT OF COVID-19 ON GLOBAL NEXT GENERATION SEQUENCING (NGS) HEALTHCARE INDUSTRY
7 GLOBAL NEXT GENERATION SEQUENCING (NGS) MARKET, BY PRODUCT
8 GLOBAL NEXT GENERATION SEQUENCING (NGS) MARKET, BY APPLICATION
9 GLOBAL NEXT GENERATION SEQUENCING (NGS) MARKET, BY END USER
Continued…
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Some of the Most Important Questions Scrutinized in the Business Intelligence Report:
- What are the key growth parameters for this global market during the forecast period?
- Which key players are expected to hold the largest market share over the forecast period?
- Who are the leading vendors and manufacturers in this market?
- What are the key strategies adopted by leading players in the market for business development and geographical expansion?
- Which end-use industries can trigger high demand in the market over the forecast period?
- What are the key segments in this market?
- Which regional player will have anticipated leading the global market in terms of size?
- What is the impact of the novel coronavirus pandemic?
- Which obstacles must new players overcome in order to occupy a major position?
Top DBMR Healthcare Reports:
North America Next Generation Sequencing (NGS) Market – Industry Trends and Forecast to 2029
Europe Next Generation Sequencing (NGS) Market – Industry Trends and Forecast to 2029
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