Next-generation Sequencing (NGS) Market Size, Share & Trends Analysis By Product, By Technology, By Application, By End User, Regional Outlook, Competitive Strategies and Segment Forecasts to 2030

Next-generation Sequencing (NGS) Market Size, Share & Trends Analysis By Product, By Technology, By Application, By End User, Regional Outlook, Competitive Strategies and Segment Forecasts to 2030

Global Next-generation Sequencing (NGS) Market is projected to be worth USD 43.97 billion by 2030.

According to SPER Market Research, the Next-generation Sequencing (NGS) Market is estimated to reach USD 43.97 billion by 2030 with a CAGR of 17.5%.

The rising occurrence of cancer, advancements in NGS platforms, diminishing costs of genome sequencing, and growing applications of NGS in cancer research are the key factors that impel the escalation of the market.

Impact of COVID-19 on the Next-generation Sequencing (NGS) Market

Start-ups in the NGS market, and pharmaceutical and biopharmaceutical companies have contributed to the research of vaccines, test kits, and treatments. The high degree of research & development of the companies for developing novel drugs to treat the infection. COVID-19 has a positive impact on the Next-generation Sequencing (NGS) Market.

Scope of the report:

Market size available for years 2019-2030
Base year considered 2021
Forecast period 2022-2030

Segments covered By Product, By Technology, By Application, By End-Users, By Region

Geographies covered North America, Europe, Asia Pacific, Latin America, Middle East, Africa

Companies Covered 10x Genomics, Agilent Technologies, Beckman Coulter, Becton, BGI Group, Dickinson, and Company, Eurofins, F. Hoffmann-La Roche AG, GENEWIZ, Hamilton Company, Illumina, Lucigen Corporation, Merck, MoBiTec GmbH, Molecular Biology Resources, Novogene Co., Ltd., NuGen Technologies, Oxford Nanopore Technologies, Promega, Psomagen, Pacific Biosciences, PerkinElmer, QIAGEN, Randox, Roche, Takara Bio, Thermo Fisher, Zymo Research Corporation

Driver: advancement in NGS platform

Advancements in NGS platforms, Declining costs of genome sequencing, improving regulatory and reimbursement scenarios for NGS-based diagnostic tests, Growing incidence of cancer, and increasing applications of next-generation sequencing in cancer research; are the key drivers for the escalation of the market.

Restraints: End-user budget constraints in developing countries

The developing counties’ research & development mainly depends upon external funding. Budget constraints in developing countries are the main cause to resist the expansion of the market.

Opportunity: Government & private support for large-scale sequencing

Applications of NGS in personalized medicine, molecular diagnostics, and government hold for huge level sequencing, create vast opportunities for the players in this market.

Challenges:

Interpretation of complex data from NGS platforms, Ethical issues, and Introduction of alternative technologies; are the challenges to the market.

Global Next-generation Sequencing (NGS) Market, By Product:

Based on the Product, Global Next-generation Sequencing (NGS) Market is segmented as; NGS Consumables, Sequencing Services (Exome & Targeted Resequencing & Custom Panels, Whole-Genome Sequencing & De Novo Sequencing, RNA Sequencing, Other Sequencing Services), Presequencing Products & Services (Library Preparation & Target Enrichment, Quality Control), NGS Platforms (Illumina, Thermo Fisher Scientific, Oxford Nanopore Technologies, Pacific Biosciences, Other Platforms), Bioinformatics(Data Analysis Services, NGS Data Analysis Software & Workbenches, NGS Storage, Management, & Cloud Computing Solutions), Services for NGS Platforms.

Global Next-generation Sequencing (NGS) Market, By Technology:

Based on the Technology, Global Next-generation Sequencing (NGS) Market is segmented as; ION Semiconductor Sequencing, Nanopore Sequencing, Sequencing by Synthesis, Single-Molecule Real-Time Sequencing, and Other Technologies.

Global Next-generation Sequencing (NGS) Market, By Application:

Based on the Application, Global Next-generation Sequencing (NGS) Market is segmented into; Diagnostics (Cancer Diagnostics, Infectious Disease Diagnostics, Reproductive Health Diagnostics, Other Diagnostic Applications), Drug Discovery, Agricultural & Animal Research, and Other Applications.

Global Next-generation Sequencing (NGS) Market, By End User:

Based on the End-User, Global Next-generation Sequencing (NGS) Market is segmented as; Academic Institutes & Research Centers, Hospitals & Clinics, Pharmaceutical & Biotechnology Companies, and Other End Users.

Global Next-generation Sequencing (NGS) Market, By Region:

North America dominates the major shares of the Next-generation Sequencing (NGS) Market; it is due to the growing applications of NGS in diagnostics, genomic research, and accessibility to research funding.