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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Data Bridge Market Research analyses that the Global Next Generation Sequencing (NGS) 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 from USD 8,840.2 million in 2021. The shift towards personalized medicine, where treatment is tailored to an individual's genetic profile, fuels the adoption of NGS technologies for genetic testing and diagnostics.
Key Findings of the Study
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.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014-2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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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)
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Countries Covered
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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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Market Players Covered
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Agilent Technologies, Inc. (U.S.), 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.), Geneious (New Zealand), Partek, Incorporated (Missouri), PerkinElmer Inc. (U.S.), Takara Bio Inc. (Japan), bioMérieux SA (France), Pacific Biosciences of U.S., Inc. (U.S.), GENEWIZ (U.S.), 10x Genomics (U.S.), New England Biolabs (U.S.), Hamilton Company (U.S.).
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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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.
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.
Regional Analysis
Geographically, the countries covered in the global next generation sequencing (NGS)market report are 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.
As per Data Bridge Market Research analysis:
North America is the dominant region in the global next generation sequencing (NGS) market during the forecast period 2022 to 2029
North America dominated the global next generation sequencing (NGS) market owing to the U.S., the instrument segment is projected to experience significant growth due to the presence of a large number of manufacturers supplying instruments to research labs and other facilities. The availability of diverse instrument options and the demand for advanced technologies contribute to this growth. Similarly, in Germany, the instrument segment is expected to expand due to the country's high-tech laboratory facilities and the adoption of the latest technologies, driving the demand for advanced instruments in research and healthcare settings.
Asia-Pacific is estimated to be the fastest growing region in the global next generation sequencing (NGS) market for the forecast period 2022 to 2029
Asia-Pacific is expected to grow during the forecast period due to the instrument segment in China is poised for growth due to several factors. China has a large number of genomic centers engaged in research and diagnostics, driving the demand for advanced instruments. Additionally, the presence of local players in the market, offering products tailored to the Chinese market's specific needs, further contributes to the growth of the instrument segment.
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