Next-generation Sequencing (NGS) Market

Global Next Generation Sequencing Market:

The global next-generation sequencing (NGS) market size reached US$ 20.1 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 80.4 Billion by 2032, exhibiting a growth rate (CAGR) of 16.2% during 2024-2032. The market for NGS is expanding rapidly due to ongoing technological advancements, increasing use in clinical applications, escalating demand for bioinformatics tools and data analysis solutions, a rising focus on precision medicine, as well as enhanced research and development efforts.

Next Generation Sequencing Market Analysis:

• Market Growth and Size: The introduction of NGS technologies into regular clinical practice for illness diagnosis, prognosis, and therapy selection has been a primary driver of NGS market expansion. NGS technology provides extensive genomic analysis capabilities, which are increasingly used in clinical contexts.
• Technological Advancements: Next generation sequencing market recent developments have offered improved sequencing platforms, chemistry, and data processing tools, making sequencing faster, more accurate, and less costly. These advancements have broadened the scope of NGS applications and increased their popularity across a wide range of sectors.
• Industry Applications: Next generation sequencing (NGS) technology drives innovation and progress in a variety of industries, including biomedical research, clinical diagnostics, pharmaceutical development, agriculture and food safety, environmental genomics, forensic genomics, and veterinary medicine.
• Geographical Trends: North America dominates the largest next generation sequencing market share due to its technologically sophisticated healthcare research framework and the presence of multiple clinical laboratories that employ NGS to provide genetic testing services.
• Competitive Landscape: The competitive environment for next generation sequencing (NGS) is marked by a dynamic mix of established firms, new startups, and academic institutions that provide a diverse variety of sequencing platforms, consumables, and bioinformatics solutions while driving innovation and market development. Some of the top key players in the market include Agilent Technologies, Becton Dickinson and Company, 10x Genomics, BGI Group, Eurofins Scientific, F. Hoffmann-La Roche AG, Illumina Inc., Genewiz, Macrogen, Oxford Nanopore Technologies, Pacific Biosciences, PerkinElmer, Thermo Fisher Scientific, Qiagen N.V. and GenapSys Inc., among others.
• Challenges and Opportunities: Managing and interpreting the massive volumes of data generated by NGS studies is still a big difficulty, posing threats to next generation sequencing market statistics. Furthermore, data storage, processing, and interpretation need advanced bioinformatics tools and computational resources, posing logistical and technological hurdles for researchers and practitioners. However, the increasing investments by leading players in research and development (R&D) activities for molecular biology, technical engineering, and sequencing chemistry is offering a favorable next generation sequencing market outlook.
• Future Outlook: NGS supports precision medicine techniques by providing detailed genetic data for illness diagnosis, therapy selection, and patient classification. Personalized medicines based on genetic profiles offer the potential to enhance treatment results, reduce side effects, and optimize healthcare delivery. Additionally, the integration of AI and machine learning algorithms into NGS data processing processes will enhance genomic data interpretation and use, thereby providing numerous next generation sequencing market opportunities. AI-powered approaches will enable predictive modeling, biomarker discovery, and drug target identification, hence speeding up biomedical research and treatment developments, and driving the next generation sequencing market growth.
   

Next Generation Sequencing Market Trends:

Increasing Adoption of NGS in Clinical Applications

The utilization of next generation sequencing (NGS) in clinical applications is fast increasing, altering many aspects of healthcare. From diagnoses to personalized treatment strategies, NGS is revolutionizing clinical practice by providing unprecedented insights into disease genetics. In diagnostic testing, NGS offers rapid and complete analysis of genomic variations, enabling the exact diagnosis of rare genetic disorders, cancer mutations, and infectious pathogens. Its function includes prenatal screening, pharmacogenomics, and uncommon illness diagnosis, giving clinicians critical genetic information for personalized patient management. For instance, OmniSeq and LabCorp, the U.S.-based life science company, introduced OmniSeq INSIGHTsm, a next-generation sequencing test designed to advance precision oncology. Additionally, NGS-based genomic profiling is propelling precision medicine initiatives, guiding targeted therapy selection, and hastening the identification of novel medications in clinical trials. As NGS technology improves and becomes more affordable, its integration into clinical workflows. For instance, the U.S.-based company Agilent Technologies Inc. introduced Agilent Sure Select Cancer CGP Assay, based on NGS, for advancing precision oncology. Thus, the increasing focus of industry participants on NGS for precision oncology is expected to boost the next generation sequencing market demand.

Technological Advancements in NGS Technology

Technological developments in next generation sequencing (NGS) have carried the field ahead, changing genomic research and applications across various sectors. These advancements include enhancements to sequencing platforms, chemistry, and data processing methods. Enhanced sequencing platforms have increased throughput, enabling the capture of larger volumes of sequencing data in less time and at a lower cost. This is positively influencing the next generation sequencing market statistics. Additionally, advancements in sequencing chemistry have improved sequencing accuracy and read length, allowing for greater genome coverage and better detection of genomic variations. Furthermore, recent developments in data analytic techniques and computational methodology have simplified the processing, analysis, and interpretation of NGS data, allowing researchers to extract relevant insights from large genomic datasets more efficiently. Overall, technical advancements in NGS continue to propel the industry forward and increase its applications. For instance, Ultima Genomics and Nvidia partnered to leverage artificial intelligence (AI) across multiple DNA sequencing and analysis stages. Moreover, Ultima's instrument utilizes the Nvidia Clara AI computing platform along with Nvidia A30 GPUs to provide highly accurate secondary and primary analysis to those customers who need to run genomic analyses at scale. Thus, adopting AI and cloud computing is expected to bring novel products and services across the industry.

Growing Demand For Bioinformatics Tools And Data Analysis Solutions

Bioinformatics tools and data analysis solutions are crucial for maximizing the value of next generation sequencing (NGS) data. These computational resources are essential for processing, analyzing, and comprehending the huge volumes of genomic data generated by NGS technology. Bioinformatics tools encompass a wide range of methodologies and software applications for tasks including read alignment, variant calling, de novo assembly, differential gene expression analysis, and pathway enrichment. Furthermore, data analysis tools provide user-friendly interfaces and integrated procedures that make NGS data processing easier for researchers and clinicians who require advanced computer abilities. Bioinformatics tools and data processing solutions must be constantly created and updated to optimize the insights gained from NGS studies and advance our understanding of genomics, transcriptomics, and epigenomics. For instance, My Intelligent Machines (MIMs) launched its software for drug development in oncology. In another instance, ARUP launched Rio, which is a bioinformatics analytics platform that helps generate faster results for next-generation sequencing tests.

Transformative Approach With Single-Cell Sequencing

Single-cell sequencing is a significant advancement in the area of next generation sequencing (NGS), giving new insights into cellular heterogeneity and functional genomics at the single-cell level. NGS methods, which extract and sequence individual cells, enable detailed investigations into gene expression, DNA mutations, epigenetic changes, and spatial transcriptomics, among other genomic characteristics. This precise understanding of cellular diversity and dynamics has far-reaching consequences in cancer research, immunology, developmental biology, and neurology. Single-cell sequencing within the NGS framework has enabled groundbreaking discoveries such as the identification of rare cell populations, the interpretation of cellular pathways throughout development, and a knowledge of the intricacy of the tumor microenvironment. As NGS systems improve and single-cell sequencing technologies become more widely available, they hold immense promise for revealing the complexity of cellular biology. For instance, Oxford Nanopore Technologies PLC announced a collaboration with 10x Genomics, aimed at streamlining the workflow to enable the sequencing of full-length transcripts in single reads on Oxford Nanopore devices. This collaboration will facilitate single-cell sequencing accessible to any laboratory, thereby increasing efficiency and cost reduction benefits.

Next Generation Sequencing Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global next generation sequencing (NGS) market report, along with forecasts at the global, regional, and country levels from 2024-2032. Our report has categorized the market based on sequencing type, product type, technology, application, and end-user.

Breakup by Sequencing Type:

• Whole Genome Sequencing
• Targeted Resequencing
• Whole Exome Sequencing
• RNA Sequencing
• CHIP Sequencing
• De Novo Sequencing
• Methyl Sequencing
• Others
   

The report has provided a detailed breakup and analysis of the market based on the sequencing type. This includes targeted resequencing, whole genome sequencing, whole exome sequencing, RNA sequencing, CHIP sequencing, De Novo sequencing, methyl sequencing, and others.

Targeted resequencing is a prominent part of the next generation sequencing (NGS) industry, driven by its use in diverse academic and therapeutic contexts. Targeted resequencing includes sequencing particular sections of interest within the genome, such as exons, regulatory regions, or disease-associated genes, allowing researchers to concentrate their sequencing efforts on important genomic regions. This technique has various advantages, including enhanced sequencing depth, lower sequencing costs, and more sensitivity for finding genetic variations. Targeted resequencing has also grown in favor of clinical diagnostics due to its capacity to rapidly and accurately assess clinically important genomic areas. Targeted resequencing assays are used by clinical laboratories and healthcare practitioners to diagnose diseases, predict prognoses, and choose treatments, especially in cancer and genetic testing. Another reason for the prominence of targeted resequencing is the presence of numerous companies in the NGS market offering specialized targeted resequencing services. These companies provide custom target enrichment solutions, library preparation kits, sequencing services, and data analysis pipelines tailored to researchers' specific needs. Their offerings encompass a wide range of applications, including cancer panel sequencing, inherited disease testing, pharmacogenomics, and microbial genomics. For instance, Illumina Inc. and Nashville Biosciences LLC, a wholly-owned subsidiary of Vanderbilt University Medical Center (VUMC), signed a multi-year agreement to speed up the development of new medicines through large-scale genomics and the creation of a leading clinical genomic resource using Illumina's next-generation sequencing (NGS) platforms.

Breakup by Product Type:

• Instruments
• Reagents and Consumables
• Software and Services
   

The report has provided a detailed breakup and analysis of the market based on the product type. This includes reagents and consumables, instruments, and software and services.

Reagents and consumables are the most often used goods in next-generation sequencing (NGS) workflows, and they play an important role in all stages of the sequencing process, from sample preparation to data analytics. These tools help with several elements of NGS, such as sample collection, DNA or RNA extraction, library preparation, target enrichment, sequencing, and quality control. They make it easier to extract nucleic acids (DNA or RNA) from a variety of sources, including blood, tissues, cells, and environmental materials. Furthermore, most sample preparation kits include chemicals for cell lysis, protein digestion, nucleic acid extraction, and purification. For instance, Lexogen, a transcriptomics, and next-generation sequencing company, introduced the new CORALL RNA-Seq V2 whole transcriptome library prep kit. Whole-transcriptome analysis with RNA sequencing (RNA-Seq) is at the cutting edge of NGS capabilities and allows the determination of RNA molecules in a sample during sampling. Additionally, the strategic initiatives taken by the market players also augment the growth of the market. For instance, Merck acquired AmpTec to strengthen Merck's capabilities to develop and manufacture mRNA for its customers for use in vaccines, treatments, and diagnostics applicable to COVID-19 and many other diseases.

Breakup by Technology:

• Sequencing by Synthesis
• Ion Semiconductor Sequencing
• Single-Molecule Real-Time Sequencing
• Nanopore Sequencing
• Others
   

The report has provided a detailed breakup and analysis of the market based on the technology. This includes sequencing by synthesis, ion semiconductor sequencing, single-molecule real-time sequencing, nanopore sequencing, and others.

Sequencing by synthesis has a wide range of applications owing to its high precision, scalability, and interoperability with multiple sequencing technologies. SBS is based on the sequential addition of fluorescently tagged nucleotides to a DNA template strand, followed by imaging to identify the integrated nucleotides. This technique has various advantages, which lead to its widespread use and rising popularity in NGS instrumentation. Furthermore, the SBS technique often provides excellent sequencing accuracy while minimizing error rates per base pair. The use of reversible terminators and error-correction algorithms reduces sequencing mistakes, resulting in trustworthy and precise sequencing findings. Furthermore, SBS is extremely scalable, enabling the sequencing of millions to billions of DNA fragments in a single run. This scalability makes SBS ideal for applications requiring high-throughput sequencing, such as whole-genome sequencing, transcriptomics, metagenomics, and population-scale studies. For instance, miR-451 has been identified as a potential prognostic factor in head and neck squamous cell carcinomas (HNSCCs) through miRNA profiling. The clusters of miR-375 and miR-106b-25 are implicated in the development and progression of HNSCCs. Furthermore, miRNAs have shown promise in forensic medicine due to their stability and specificity, making them useful for degraded samples or complex mixes.

Breakup by Application:

• Biomarker and Cancer
• Drug Discovery and Personalized Medicine
• Genetic Screening
• Diagnostics
• Agriculture and Animal Research
• Others
   

The report has provided a detailed breakup and analysis of the market based on the application. This includes biomarker and cancer, drug discovery and personalized medicine, genetic screening, diagnostics, agriculture and animal research, and others.

Biomarkers and cancer now dominate the market due to the increased prevalence of cancer and growing public awareness of the advantages of early detection and individualized therapy. Biomarkers are molecular signs present in tissues, blood, or body fluids that can detect cancer, predict disease progression, and guide therapy decisions. NGS technologies provide complete genomic profiling and biomarker discovery, allowing for the detection of genetic mutations, gene expression patterns, and other molecular fingerprints linked to cancer genesis and progression. Furthermore, the expanding global frequency of cancer, as well as increased illness and death rates, have highlighted the necessity of early detection and tailored therapy in improving patient outcomes. NGS-based cancer diagnostics offer several advantages over traditional methods, including higher sensitivity, specificity, and the ability to detect multiple genetic alterations simultaneously. These advancements enable oncologists to tailor treatment strategies based on the unique genomic profiles of individual patients, leading to more effective therapies, reduced side effects, and improved survival rates. For instance, Vela Diagnostics released new next-generation sequencing (NGS)-based panels to detect RNA and DNA cancer biomarkers from formalin-fixed paraffin-embedded (FFPE) tissue specimens. The panels are focused (60 genes) and comprehensive (525 genes). The OncoKey SL 60 Plus Panel is a targeted pan-cancer gene panel, while the OncoKey SL 525 Plus Panel is a comprehensive pan-cancer gene panel.

Breakup by End-User:

• Academic Institutes & Research Centers
• Hospitals & Clinics
• Pharmaceutical & Biotechnology Companies
• Others
   

The report has provided a detailed breakup and analysis of the market based on the end-user. This includes academic institutes & research centers, hospitals & clinics, pharmaceutical & biotechnology companies, and others.

Academic institutes and research centers held the majority of the market due to the increased use of NGS technologies in research initiatives. Furthermore, academic institutions and research centers frequently get considerable financing from government agencies, private foundations, and business partners to support genomic research initiatives. This grant enables academics to invest in NGS technology and services for investigating a wide range of biological topics, from fundamental science to translational and clinical research. Furthermore, these universities usually feature well-equipped core facilities and research infrastructure devoted to genomics, molecular biology, and bioinformatics. These facilities are equipped with cutting-edge NGS instruments, laboratory equipment, and computing resources, enabling researchers to undertake cutting-edge genomic investigations and data analysis. Furthermore, the increasing collaboration among interdisciplinary research groups is enabling scientists from diverse backgrounds to collaborate on NGS-driven research projects, facilitating knowledge exchange, resource sharing, and interdisciplinary approaches to address complex scientific questions using NGS technologies. For instance, PacBio, along with GeneDx, announced a research collaboration with the University of Washington to analyze and understand long-read whole genome sequencing for better diagnostic yield in neonatal care. Such initiatives are expected to drive market growth.

Breakup by Region:

• North America
  • United States
  • Canada
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (United States and Canada), Europe (United Kingdom, Germany, Italy, France, Netherlands, Sweden, and others), Asia Pacific (China, Australia, South Korea, and others), Latin America (Brazil, Mexico, and others), Middle East and Africa (Turkey, Saudi Arabia, UAE, and others). According to the report, North America has a clear market lead due to the availability of a technologically sophisticated healthcare research framework in the area, as well as the broad implementation of NGS technology in several clinical laboratories. Furthermore, North America boasts a cutting-edge healthcare infrastructure, which includes prestigious academic institutions, research hospitals, and biotechnology corporations. These institutions have access to cutting-edge NGS equipment, bioinformatics tools, and research funding, allowing them to conduct groundbreaking genomic research and clinical applications. Furthermore, North America has a considerable number of clinical laboratories and genetic testing facilities that use NGS technology to provide diagnostic testing, screening, and genetic counseling services. These facilities provide a comprehensive range of NGS-based assays for hereditary illnesses, cancer diagnostics, prenatal screening, pharmacogenomics, and infectious diseases, which contribute to the wider use of NGS in clinical practice. However, it is mostly found among females, and the occurrence of male breast cancer is very rare. For instance, according to the data provided by Breastcancer.org, an estimated 287,850 new cases of invasive breast cancer are expected to be diagnosed in women in the United States, along with 51,400 new cases of non-invasive (in situ) breast cancer.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the key market players in the next generation sequencing market include:

• Agilent Technologies
• Becton Dickinson and Company
• 10x Genomics, BGI Group
• Eurofins Scientific
• F. Hoffmann-La Roche AG
• Illumina Inc.
• Genewiz
• Macrogen
• Oxford Nanopore Technologies
• Pacific Biosciences
• PerkinElmer
• Thermo Fisher Scientific
• Qiagen N.V.
• GenapSys Inc.

Next Generation Sequencing Market News:

• March 2024: MedGenome, a global genomics company in South Asia, has partnered with the Darshan GIVA Foundation, a non-governmental organization, to pioneer a transformative approach to TB diagnosis and treatment using whole genome sequencing.
•  March 2024: seqWell, a global provider of genomic library workflow solutions, announced the launch of their new ExpressPlex HT Library Preparation Kit (ExpressPlex HT). The product would be the first commercially available next-generation sequencing (NGS) library preparation kit containing all the required reagents and indices to enable multiplexing up to 6,144 samples in a pre-plated 384-well format.
• March 2023: The company SOPHiA GENETICS announced a new partnership with Qiagen that will pair QIAseq reagent technology with the DDM platform to enhance tumor analysis through next-generation sequencing (NGS).
• January 2023: QIAGEN announced a strategic partnership with California-based population genomics leader Helix to advance next-generation sequencing companion diagnostics in hereditary diseases.

Next Generation Sequencing Market Report Scope:

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the next generation sequencing market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and business opportunities in the global next generation sequencing market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the next generation sequencing industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.