Next Generation Sequencing Market Size & Growth Overview [2023-2030]

Next Generation Sequencing Market Snapshot

“The Next Generation Sequencing Market is estimated to increase at a CAGR 17.98% from $ 14.44 Billion in 2023 to $ 43.12 Billion by 2030.”

Next-generation sequencing is a parallel sequencing technology that offers high throughput, scalability, and speed for determining nucleotide order in genomes or DNA or RNA. It has revolutionized biological sciences, enabling labs to analyze biological systems at unprecedented levels and undertake various applications.

Next-generation sequencing technologies significantly enhance scientists' ability to ask and answer questions, enabling innovative sample preparation and data analysis possibilities for diverse applications.

• Rapidly sequence whole genomes
• Deeply sequence target regions
• Utilize RNA sequencing (RNA-Seq) to discover novel RNA variants and splice sites, or quantify mRNAs for gene expression analysis
• Analyze epigenetic factors such as genome-wide DNA methylation and DNA-protein interactions
• Sequence cancer samples to study rare somatic variants, tumor subclones, and more
• Study the human microbiome
• Identify novel pathogens

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Key Benefits

• In 2022, the targeted sequencing and resequencing segment is expected to contribute 73% of revenue in technology.
• In 2022, the oncology segment generated a revenue share of 27.8% through application.
• In 2022, the sequencing segment achieved a market share of over 53.9%.
• In 2022, the North America region achieved a revenue share of over 48.3%.

Growth Drivers

• The advancements in next-generation sequencing technology are being made in developed nations.
• Research and development activities are expanding in North America and Europe.
• Advanced economies are seeing a rise in the use of NGS technology by pharmaceutical and biopharmaceutical firms.
• The regulatory environment in North America is generally favorable.

Market Restraints

• There is a shortage of qualified professionals.
• The cost of next-generation sequencing is high.

Next Generation Sequencing Market Segment Analysis

By Technology

The next generation sequencing market is divided into whole exome sequencing, targeted sequencing and resequencing, and whole genome sequencing. Targeted sequencing and resequencing are divided into DNA-based and RNA-based methods.

Whole exome sequencing contributed 40-42% of next generation revenue in 2022 due to technological advances. This method is useful for researchers to detect cancer-associated gene expression profiles and to identify new genetic changes related to health issues, aiding in future illness identification.

By Product

The next generation sequencing market is segmented into workflows including pre-sequencing, sequencing, and data analysis. Pre-sequencing is categorized into NGS library preparation kits, semi-automated library preparation kits, automated library preparation kits, and clonal amplification.

Data analysis is divided into primary, secondary, and tertiary data analysis. Pre-sequencing is expected to be the fastest-growing sector from 2023 to 2030. Sequencing is a crucial and capital-intensive process, generating increased income. The final stage involves processing, analysis, and interpretation of the data.

By Applications

Next-generation sequencing market data segmented the field into oncology, clinical investigation, reproductive health, and more. Oncology includes diagnostics, screening, and companion diagnostics for infectious and noncommunicable diseases.

Reproductive health includes non-invasive prenatal testing, pre-implantation genetic testing, and single gene analysis. The reproductive health segment dominated the market in 2022 and is expected to grow at the fastest rate between 2023-2030. This data provides a comprehensive view of the market.

Competitive Landscape of the Next Generation Sequencing Market Analysis

• BGI Group
• Hoffmann-La Roche AG
• Pacific Biosciences of California Inc.
• Thermo Fisher Scientific Inc.
• Agilent Technologies Inc.
• Precigen Inc.
• Illumina Inc.
• Qiagen N.V.
• PerkinElmer Inc.
• PierianDx Inc.

New Developments in Next Generation Sequencing Market

Aug 29, 2023- Uncovering Thalassemia Diversity in Southern China through Next-Generation Sequencing | BGI Insight

Around 5.2% of the global population carries abnormal hemoglobin genes [1].

Each year, 300,000 to 500,000 children are born with severe hemoglobinopathies worldwide, with approximately 80% of these cases occurring in developing countries [2].

Thalassemia is the most common hereditary hemoglobinopathy and occurs in 4.4 out of every 10,000 live births [3].

It is prevalent in Mediterranean coastal areas, Africa, the Middle East, Southeast Asia, and southern China.

A previous study indicated that Ganzhou, the southernmost city in Jiangxi province, had a thalassemia prevalence as high as 9.49%

[4]. Still, it had limitations in terms of small sample size, non-representative population and limited mutation spectrum. A new study by Tong Yang, Xuemei Luo, Yanqiu Liu, Wenqian Zhang (BGI Genomics, Senior Manager Clinical Research) et al. published on August 18, 2023 in Human Genomics looks at the prevalence and mutation spectrum of thalassemia in Ganzhou-based on a large-scale thalassemia screening project involving 136,312 individuals.

January 4, 2023- Agilent Announces Acquisition of Avida Biomed, Developer of High-Performance NGS Target Enrichment Workflows for Cancer Research

Agilent Technologies has acquired Avida Biomed, a life sciences company that develops high-performance target enrichment workflows for clinical researchers using next-generation sequencing (NGS) approaches to study cancer.

The acquisition complements Agilent's SureSelect portfolio and expands into high-growth clinical research and diagnostics markets. Avida Biomed's chemistries and assays are compatible with Agilent's automation platforms, facilitating efficient scaling of research experiments and routine sample testing.

January 2023: QIAGEN announced a strategic partnership with California-based population genomics leader Helix to advance next-generation sequencing companion diagnostics in hereditary diseases.

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).

September 2022: Illumina Inc. launched the NovaSeq X Series (NovaSeq X and NovaSeq X Plus), new production-scale next-generation sequencers that will enable faster, more powerful, and more sustainable sequencing.

March 2022: Thermo Fisher Scientific launched the CE-IVD-marked Ion Torrent Genexus Dx Integrated Sequencer, an automated next-generation sequencing (NGS) platform that delivers results in as little as a single day.      

Regional Analysis of Global Next Generation Sequencing Industry

Revenue Share (%), by Geography, Global, 2022

• North America - 39.5%
• Europe - 27.3%
• Asia-Pacific – 17.9%
• South America - 6.8%
• Middle East and Africa - 3.5%

The North America market dominated the worldwide next-generation sequencing market in 2022, expected to continue so in the forecast period due to key manufacturers' presence, government support, and rising cancer prevalence, driving market expansion.   

Next-generation sequencing (NGS) is increasingly used in clinical diagnostic procedures due to rising chronic and infectious illness prevalence, increased genomics spending, and industry advancements. In 2022, around 6,700 Canadians were diagnosed with leukaemia, with 4,000 men and 2,700 women. The American Cancer Society predicts 59,610 new cases of leukaemia and 20,380 new cases of acute myeloid leukaemia in the US in 2023.

Key market competitors are making adjustments to aid market expansion. Predicine, Inc. has been designated as a breakthrough device by the US FDA for its PredicineCARETM cfDNA Assay, a Next-Generation Sequencing assay for tumor mutation profiling in cfDNA extracted from liquid biopsy samples. Thermo Fisher Scientific has been granted premarket approval for the "Oncomine Dx Target Test" as a companion diagnostic to identify patients with HER2 activating mutations in non-small cell lung cancer who may be candidates for ENHERTU.

Europe is predicted to be the most opportunistic segment in the next-generation sequencing market due to increased research expenditure, focus on precision pharmaceuticals, and strategic alliances.

Segments Covered in the Next Generation Sequencing Market Report

Segments by Technology

• WGS
• Whole Exome Sequencing
• Targeted Sequencing & Resequencing
• DNA-based
• RNA-based
• Others

Segments By Product

• Platform
  • Sequencing
  • Data Analysis
• Consumables
  • Sample Preparation
  • Target Enrichment
  • Others

Segments By End-use

• Academic Research
• Clinical Research
• Hospitals & Clinics
• Pharma & Biotech Entities
• Other Users

Market by Region

• North America
  • US
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Australia
  • Rest of Asia-Pacific
• Rest of the World
• Middle East
• Africa
• Latin America

Frequently Asked Questions

What are some applications of Next Generation Sequencing?

Next-generation sequencing (NGS) is gaining popularity in clinical pathology, genetics, and cancer diagnosis, but its widespread use in clinical microbiology laboratories faces significant challenges.

What is the expected growth rate of the Next Generation Sequencing market over the next 7 years?

The Next Generation Sequencing Market is estimated to increase at a CAGR 17.98% from $ 14.44 Billion in 2023 to $ 43.12 Billion by 2030.

Who are the major players in the Next Generation Sequencing market and what is their market share?

BGI Group, F. Hoffmann-La Roche AG, Pacific Biosciences of California Inc., Thermo Fisher Scientific Inc., Agilent Technologies Inc., Precigen Inc., Illumina Inc., Qiagen N.V., PerkinElmer Inc., PierianDx Inc, are prominent players operating and dominating in the market.

Who are the top 3 Next Generation Sequencing Market Key Vendors?

BGI Group, F. Hoffmann-La Roche AG, Pacific Biosciences of California Inc, are key players in the Next Generation Sequencing market.

Which geographical areas dominate the worldwide market for Next Generation Sequencing?

North America region are emerging as the top regional markets for Next Generation Sequencing solutions.

1.SUMMARY

1.1. Next Generation Sequencing Market Overview

1.2. Key Insights

1.3. Report Scope

1.4. Research Methodology

1.5. Frequently Asked Questions

1.6. Chapter Outlines

2. DECISION-MAKING SUMMARY
3. INTRODUCTION

3.1. Overview of Next Generation Sequencing

3.2. Key Historical Events

3.3. Structure

3.4. Biochemical Interaction

3.5. Target Indications

3.6. Advantages of Next Generation Sequencing

3.7 Challenges associated with Next Generation Sequencing

3.8. Future Perspectives.

4. MARKET LANDSCAPE

4.1. Methodology

4.2 Next Generation Sequencing: Developer Landscape

4.2.1. Analysis by Year of Establishment

4.2.2. Analysis by Company Size

4.2.3. Analysis by Location of Headquarters (Region-wise)

4.2.4. Analysis by Location of Headquarters (Country-wise)

4.2.5. Analysis by Year of Establishment, Company Size and Location of Headquarters (Region-wise)

4.2.6. Most Active Players

5. COMPANY

5.1. Company Overview

5.1.2 Management Team

5.1.3. Product Portfolio

5.1.4. Recent Developments and Future Outlook

6. PARTNERSHIPS AND COLLABORATIONS

6.1. Partnership Models

6.2. Next Generation Sequencing: Partnerships and Collaborations

6.2.1. Analysis by Year of Partnership

6.2.2. Analysis by Type of Partnership

6.2.3. Analysis by Year and Type of Partnership

6.2.4. Analysis by Type of Partner

6.2.5. Analysis by Year of Partnership and Type of Partner

6.2.6. Analysis by Type of Partnership and Type of Partner

6.2.7. Analysis by Type of Partner and Parent Company Size

7. ACADEMIC GRANTS ANALYSIS

7.1. Methodology and Key Parameters

7.2. Next Generation Sequencing: Academic Grants Analysis

7.2.1. Analysis by Year of Grant Award

7.2.2. Analysis by Amount Awarded

7.2.3. Analysis by Funding Institute Center

7.2.4. Analysis by Support Period

7.2.5. Analysis by Funding Institute Center and Support Period

7.2.6. Analysis by Type of Grant Application

7.2.7. Analysis by Purpose of Grant

8. PUBLICATION ANALYSIS

8.1. Analysis Methodology and Key Parameters

8.2. Next Generation Sequencing: Publication Analysis

8.2.1. Analysis by Year of Publication

8.2.2. Analysis by Type of Publication

8.2.3. Analysis by Type of Conjugate

8.2.4. Analysis by Target Indication

8.2.5. Analysis by Copyright Holder

8.2.6. Word Cloud: Emerging Focus Area

8.2.7. Most Active Publishers: Analysis by Number of Publications

9. SUCCESS PROTOCOL ANALYSIS

9.1. Methodology and Key Parameters

9.2. Key Assumptions and Scoring Criteria

9.3. Success Protocol Analysis

9.4. Assessment of Approved Next Generation Sequencing

10. Appendix 1: Tabulated Data
11. Appendix 2: List of Companies

1. BGI Group
2. Hoffmann-La Roche AG
3. Pacific Biosciences of California Inc.
4. Thermo Fisher Scientific Inc.
5. Agilent Technologies Inc.
6. Precigen Inc.
7. Illumina Inc.
8. Qiagen N.V.
9. PerkinElmer Inc.
10. PierianDx Inc.

Segments Covered in the Next Generation Sequencing Market Report

Segments by Technology

• WGS
• Whole Exome Sequencing
• Targeted Sequencing & Resequencing
• DNA-based
• RNA-based
• Others

Segments By Product

• Platform
  • Sequencing
  • Data Analysis
• Consumables
  • Sample Preparation
  • Target Enrichment
  • Others

Segments By End-use

• Academic Research
• Clinical Research
• Hospitals & Clinics
• Pharma & Biotech Entities
• Other Users

Market by Region

• North America
  • US
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Australia
  • Rest of Asia-Pacific
• Rest of the World
• Middle East
• Africa
• Latin America

Research Methodology