Next Generation Sequencing Services Market by Type (Targeted, RNA, De Novo, WES, WGS), Technology (Sequencing by Synthesis, Ion Semiconductor, SMRT, Nanopore), Application (Research, Clinical [Oncology, Reproductive]), End User - Global Forecast to 2030

The Next Generation Sequencing (NGS) Services Market By Type (Targeted, RNA, De Novo, WES, WGS) Technology (Sequencing by Synthesis, Ion Semiconductor, SMRT, Nanopore) Application (Research, Clinical [Oncology, Reproductive]) End User–Global Forecast to 2030

The next generation sequencing services market is expected to grow at a CAGR of 19.9% from 2023 to 2030 to reach $20.39 billion by 2030. Following thorough secondary and primary research and in-depth analysis of the market scenario, the report discusses key industry drivers, restraints, challenges, and opportunities.

The growth of this market is mainly attributed to the reduced cost of NGS procedures, the development and approval of new targeted therapies, the rising prevalence of cancer, partnerships between NGS service providers and pharmaceutical companies, the high cost of sequencing infrastructure, and technological advancements in NGS. In addition, advancements in sequencing data analytics and the increasing applications of NGS in cancer and agri-genomics research are expected to offer significant growth opportunities for NGS service providers.

However, the availability of alternative technologies, lack of skilled professionals for sample preparation and analysis, and actionable mutations for precision medicine may restrain the growth of the NGS services market. Moreover, regulatory & standardization concerns in diagnostic testing and the ethical issues & costs related to non-invasive prenatal genetic testing are major challenges to the growth of this market.

Based on type, the global NGS services market is segmented into targeted sequencing services, whole-genome sequencing services, RNA sequencing services, exome sequencing services, de novo sequencing services, ChIP sequencing services, methyl sequencing services, and other NGS services. In 2023, the targeted sequencing services segment is estimated to account for the largest share of the global NGS services market. The large share of this segment can be attributed to the relatively lower cost, faster turnaround time, and accurate, easy-to-interpret results of targeted sequencing in the study of disease-related genes.

Based on technology, the global NGS services market is segmented into sequencing by synthesis, ion semiconductor sequencing, single-molecule real-time sequencing, nanopore sequencing, and DNA nanoball sequencing. In 2023, the sequencing by synthesis segment is estimated to account for the largest share of the global NGS services market. The large share of this segment is attributed to its highest yield of error-free throughput, base call value above Q30, and higher accuracy in DNA sequencing compared to other sequencing technologies available in the market.

Based on application, the global NGS services market is segmented into research applications and clinical applications. In 2023, the research applications segment is estimated to account for the largest share of the global NGS services market. This segment's large share is mainly attributed to the increasing demand for gene-based medicines, growing investments in drug research and development activities, and increasing research programs for personalized medicine.

Based on end user, the global NGS services market is segmented into hospitals & clinics, pharmaceutical & biotechnology companies, academic institutes & research centers, and other end users. In 2023, the hospitals & clinics segment is estimated to account for the largest share of the global NGS services market. The largest share of this segment is attributed to factors such as high capital requirements for building in-house NGS capabilities in hospitals & clinics, the rising prevalence of cancer and other chronic diseases, the growing demand for advanced medical treatments, and the rising number of biomarker-based therapies.

An in-depth analysis of the geographical scenario of the next generation sequencing services market provides detailed qualitative and quantitative insights about the five major geographies (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa) along with the coverage of major countries in each region. North America is expected to command the largest share of the global next generation sequencing services market in 2023, followed by Europe and Asia-Pacific.

Key companies operating in the global next generation sequencing services market are Illumina, Inc. (U.S.), QIAGEN N.V. (Netherlands), PerkinElmer, Inc. (U.S.), Eurofins Scientific S.E. (Luxembourg), Macrogen, Inc. (South Korea), LGC Limited (U.K.), GENEWIZ, Inc. (U.S.), Beijing Genomics Institute (China), MedGenome, Inc. (U.S.), DNA Link, Inc. (South Korea), Novogene Co., Ltd. (China), CD Genomics (U.S.), SeqLL, Inc. (U.S.), Otogenetics Corporation (U.S.), Foundation Medicine, Inc. (U.S.), Quest Diagnostics Incorporated (U.S.), and Invitae Corporation (U.S.).

Scope of the Report

Next Generation Sequencing Services Market Assessment–by Type

• Targeted Sequencing Services
• RNA Sequencing Services
• De Novo Sequencing Services
• Exome Sequencing Services
• Chip Sequencing Services
• Whole Genome Sequencing Services
• Methyl Sequencing Services
• Other Services

Next Generation Sequencing Services Market Assessment–Technology

• Sequencing By Synthesis
• Ion Semiconductor Sequencing
• Single-molecule Real-time Sequencing
• Nanopore Sequencing
• DNA Nanoball Sequencing

Next generation Sequencing Services Market Assessment–Application

• Research Applications
• Drug Discovery
• Agriculture & Animal Research
• Other Research Applications
• Clinical Applications
• Reproductive Health Diagnosis
• Oncology
• Infectious Diseases
• Other Clinical Applications

(Other research applications include food microbiology, microbiota analysis in the beverage industry, and environmental studies, and other clinical applications include the detection of genetic aberrations in neurological disorders, rare diseases, metabolic and immune disorders, and food-borne illnesses)

Next Generation Sequencing Services Market Assessment–by End User

• Hospitals & Diagnostic Laboratories
• Pharmaceutical & Biotechnology Companies
• Academic Institutes & Research Centers
• Other End Users

Next Generation Sequencing Services Market Assessment–by Geography

• North America
• U.S.
• Canada
• Europe
• Germany
• France
• U.K.
• Italy
• Spain
• Rest of Europe (RoE)
• Asia-Pacific (APAC)
• China
• Japan
• China
• India
• Rest of Asia Pacific (RoAPAC)
• Latin America
• Middle East & Africa

NGS Services Market - Report Summary

Report Metrics	Details
Years Considered	2021 - 2030
Base Year	2022
Forecast Period	2023-2030
Page Count	284
Units Referenced	Value (USD Million)
Segments/Key Topics	Market by Type, Technology, Application, and End User
Regions Covered	North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa
Key Companies Mentioned	Illumina, Inc. (U.S.), QIAGEN N.V. (Netherlands), PerkinElmer, Inc. (U.S.), Eurofins Scientific S.E. (Luxembourg), Macrogen, Inc. (South Korea), LGC Limited (U.K.), GENEWIZ, Inc. (U.S.), Beijing Genomics Institute (China), MedGenome, Inc. (U.S.), DNA Link, Inc. (South Korea), Novogene Co., Ltd. (China), CD Genomics (U.S.), SeqLL, Inc. (U.S.), Otogenetics Corporation (U.S.), Foundation Medicine, Inc. (U.S.), Quest Diagnostics Incorporated (U.S.), and Invitae Corporation (U.S.).

FAQs About the Report

What is the focus of the global next-generation sequencing services market?

The global next-generation sequencing services market covers the market size & forecasts the various NGS services used by hospitals & diagnostic laboratories, pharmaceutical & biotechnology companies, academics & research institutes, and other end users for clinical and research applications. The next-generation sequencing services market studied in this report involves the value analysis of various segments and sub-segments of NGS services at regional and country levels.

What is the value of revenue generated from NGS services across the globe? At what rate is their demand expected to grow for the next 5-7 years?

The global next-generation sequencing services market is projected to reach $20.39 billion by 2030, at a CAGR of 19.9% during the forecast period.

Which type segment is estimated to hold the major share of the global NGS services market?

Based on type, the target sequencing services segment is estimated to account for the largest share of the next-generation sequencing services market in 2023. The large share of this segment is mainly attributed to the relatively lower cost, faster turnaround time, and accurate & easy-to-interpret results for studies of disease-related genes.

Which technology segment is estimated to hold the major share of the global NGS services market?

The sequencing by synthesis segment is estimated to register the fastest CAGR during the forecast period due to factors such as the high adoption of Illumina's NGS platforms, its broad range of research and clinical applications, high reliability, and high demand for high-throughput sequencing at lower costs are driving the growth of this technology in the NGS services market.

What are the key factors supporting the growth of this market? Also, what are the major opportunities for existing market players and new entrants in the global next-generation sequencing services market?

The decreasing cost of NGS sequencing procedures, development, and approval of new targeted therapies, rising prevalence of cancer, partnerships between NGS service providers & pharma companies, high cost of sequencing infrastructure, and technological advancements in NGS services have been considered to have a positive impact on the next generation sequencing services market. In addition, the increasing application of NGS in cancer and agri-genomics research and advancements in sequencing data analytics provide significant opportunities for the next-generation sequencing service providers.

Who are the major players operating in the global next-generation sequencing services market?

Key companies operating in the global next generation sequencing services market are Illumina, Inc. (U.S.), QIAGEN N.V. (Netherlands), PerkinElmer, Inc. (U.S.), Eurofins Scientific S.E. (Luxembourg), Macrogen, Inc. (South Korea), LGC Limited (U.K.), GENEWIZ, Inc. (U.S.), Beijing Genomics Institute (China), MedGenome, Inc. (U.S.), DNA Link, Inc. (South Korea), Novogene Co., Ltd. (China), CD Genomics (U.S.), SeqLL, Inc. (U.S.), Otogenetics Corporation (U.S.), Foundation Medicine, Inc. (U.S.), Quest Diagnostics Incorporated (U.S.), and Invitae Corporation (U.S.).

Which regions/countries are expected to offer significant growth opportunities for players operating in the next-generation sequencing services market?

Emerging economies like China and India are projected to offer significant growth opportunities for players in this market. Improvement in the healthcare infrastructure, rising research & development activities, and a growing number of patients diagnosed with gene-associated disorders are the factors that will offer significant growth opportunities in this region.