Global Next Generation Sequencing (NGS) Market, By Product (Instruments, Consumables and Services), Applications (Diagnostics, Biomarker Discovery, Precision Medicine, Drug Discovery, Agriculture and Animal Research and Others), End User (Pharmaceutical & Biotechnology Companies, Research Centers & Academic and Government Institutes and Hospital & Clinics), Country (U.S., Canada, Mexico, Germany, U.K., Italy, France, Spain, Switzerland, Russia, Turkey, Belgium, Netherlands and Rest of Europe, Japan, China, South Korea, India, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines and Rest of Asia-Pacific, Brazil and Rest of South America, South Africa and Rest of Middle East And Africa) Industry Trends & Forecast to 2029.
Market Analysis and Insights: Global Next Generation Sequencing (NGS) Market
The global next generation sequencing (NGS) market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses that the 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. Wide portfolio offered by major players and use of NGS in drug development is expected to act as driver for the next generation sequencing (NGS) market growth.
High-throughput sequencing, most widely regarded as the "next-generation" sequencing (NGS), is now integrated into routine clinical practice due to the numerous technical and functional developments, while early protocols relied on samples harvested outside of typical workflows in clinical pathology, standard formalin-fixed, paraffin-embedded specimens which can be used more regularly as starting material for NGS. In addition, protocols are being amassed for the analysis and interpretation of NGS data, as well as knowledge bases, allowing clinicians to act more easily on genomic information at the patient care point. The presence of wide range of products of the next generation sequencing used in the diagnosis of chronic diseases is satisfying the need of the healthcare facilities. The increased technological advancement leads to development of highly efficient next generation sequencing (NGS) in the market.
Major factors driving the growth of global next generation sequencing (NGS) market are use of next generation sequencing in drug development and wide portfolio offered by major player and the factor which hampers the growth of the next generation sequencing (NGS) market includes high cost of next generation sequencing products and product recall.
The next generation sequencing (NGS) market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the next generation sequencing (NGS) market scenario contact Data Bridge Market Research for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Next Generation Sequencing (NGS) Market Scope and Market Size
The next generation sequencing (NGS) market is segmented on basis of product, application and end user. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of product, the global next generation sequencing (NGS) market is segmented into instrument, consumables, and services. In 2022, the instrument segment is expected to dominate the global next generation sequencing (NGS) market as the instruments are the major component in next generation sequencing procedures.
- 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. In 2022, the diagnostic segment is expected to dominate the global next generation sequencing (NGS) market due to the fact that clinical laboratories have increasingly adopted the NGS for routine diagnosis because it has the potential to deliver precise test result and provide excellent treatment regime.
- On the basis of end user, the global next generation sequencing (NGS) market is segmented into hospitals & clinics, research centers and academic & government institutes, pharmaceutical & biotechnology companies. In 2022, research center and academic & government institutes is expected to dominate the global next generation sequencing (NGS) market as research related to next generation sequencing for chronic disease and personalized medicine is being conducted mainly by these institutes which is driving the segment growth.
Next Generation Sequencing (NGS) Market Country Level Analysis
The next generation sequencing (NGS) market is analyzed and market size information is provided by the product, application and end user as referenced above.
The countries covered in the next generation sequencing (NGS) market report are the U.S., Canada and Mexico, U.K., Germany, France, Spain, Italy, Netherlands, Switzerland, Russia, Turkey, Austria, Ireland, and Rest of Europe, China, South Korea, Japan, India, Australia, Singapore, Malaysia, Indonesia, Thailand, Philippines and rest of Asia-Pacific, South Africa, Saudi Arabia, U.A.E., Israel, Egypt and rest of Middle East and Africa, Brazil, Argentina, and rest of South America.
Instrument segment in the U.S. is expected to grow with the highest growth rate in the forecast period of 2022 to 2029 because of the presence of large number of manufacturer which are delivering instrument to various research labs and others. Instrument segment in Germany is expected to grow due to the high technology laboratory facilities in and adoption of latest technology in the country. Instrument segment in China is expected to grow due to the fact that it has large number of genomic centers and local player for providing products in China.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Growing Strategic Activities by Major Market Players to Enhance the Awareness for Next Generation Sequencing (NGS) Treatment, is Boosting the Market Growth of Next Generation Sequencing (NGS) market.
The next generation sequencing (NGS) market also provides you with detailed market analysis for every country growth in particular market. Additionally, it provides the detail information regarding the market players’ strategy and their geographical presence. The data is available for historic period 2011 to 2020.
Competitive Landscape and Next Generation Sequencing (NGS) Market Share Analysis
Next generation sequencing (NGS) market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to next generation sequencing (NGS) market.
Some of the major companies which are dealing in the next generation sequencing (NGS) are Agilent Technologies, Inc., ThermoFisher Scientific, Inc., QIAGEN, Illumina, Inc., Bio-Rad Laboratories, Inc., Roche Sequencing (A subsidiary of F. Hoffman La Roche), BGI (A subsidiary of BGI Group), Oxford Nanopore Technologies plc, MACROGEN CO., LTD., DNASTAR, Geneious, Partek, Incorporated, PerkinElmer Inc., Takara Bio Inc., bioMérieux SA, Pacific Biosciences of California, Inc., GENEWIZ, 10x Genomics, New England Biolabs, Hamilton Company among other domestic players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many contract and agreement are also initiated by the companies’ worldwide which are also accelerating the next generation sequencing (NGS) market.
- In March 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 February 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. This new product launch by the company has increased its credibility in the market.
Collaboration, product launch, business expansion, award and recognition, joint ventures and other strategies by the market player is enhancing the company footprints in the next generation sequencing (NGS) market which also provides the benefit for organization’s profit growth.