SAN FRANCISCO, July 6, 2023 /PRNewswire/ -- The global next generation sequencing market size is expected to reach USD 33.15 billion by 2030, registering a CAGR of 21.66% over the forecast period, according to a new report by Grand View Research, Inc. Next-generation Sequencing (NGS) is a parallel processing technique that can establish the sequence of nucleotides in a whole genome with scalability, ultra-high capacity, and fast speed. Furthermore, in the healthcare industry, NGS is gradually being incorporated into medical laboratory research, screening, and disease diagnoses. In personalized medicine, it has been frequently utilized to accelerate the drug research process.
Key Industry Insights & Findings from the report:
- By application, the oncology segment held the largest revenue share of 27.70% in 2022. The segment growth is prominently attributed to increasing in the prevalence of cancer and advancements in sequencing technologies.
- The academic research segment is expected to grow lucratively over the forecast period due to an increase in application-based usage in these institutes and a rise in oncology research. In addition, advancements in R&D for therapeutics, oncology, and genomics research led to the growth of the market.
- In Asia Pacific, the market is expected to grow considerably during the forecast period owing to extensive developments in healthcare infrastructure, the positive approach of respective countries for adoption of advanced technologies, and the presence of key players.
- North America dominated the market with a share of 49.25% in 2022, due to the presence of high R&D investment, and availability of technologically advanced healthcare research framework, the development of WGS in the region is also expected to serve as a critical factor for the growth of the North America NGS market throughout the forecast period.
Read 300 page market research report, "Next Generation Sequencing Market Size, Share & Trends Analysis Report By Technology (Targeted Sequencing & Resequencing), By Product, By Application , By Workflow, By End-use, By Region, And Segment Forecasts, 2023 - 2030", published by Grand View Research.
Next Generation Sequencing Market Growth & Trends
Different potential sequencing methods such as RNA sequencing, whole-genome sequencing, and whole-exome and targeted sequencing amongst others are prominently used by researchers to get comprehensive sample analysis. When compared to the traditional Sanger sequencing technology, NGS is less expensive and provides higher throughput for DNA sequencing. The growing automation in the pre-sequencing protocols, post-sequencing protocols, and data analysis is also projected to have a positive impact on the NGS market. The utilization of novel platforms for the development of personalized medicine by medical analysis at a genetic level is also a significant factor, which is expected to enhance demand for NGS over the forecast period.
Besides, there are other significant growth trends that are being witnessed in the sequencing industry, such as the development of personalized medicine and companion diagnostics, growing advancements in cloud computing, and data integration. Furthermore, the easy availability of genomic and proteomic data has poised this market to exhibit potentially high-value avenues and opportunities for growth over the forecast period. The market growth is also being fueled by an increase in the global prevalence of cancer and the availability of sophisticated healthcare facilities. As per GLOBOCAN 2020, there have been 1,92,92,789 new cancer cases in 2020, with the number expected to rise to 2,88,87,940 by 2040. Such a substantial rise in the number of cancer cases is estimated to leverage cancer research which will eventually accelerate the NGS market growth.
The NGS diagnostic techniques have the potential to determine a virus's genomic sequence and aid scientists in their understanding of mutations. Furthermore, throughout the COVID-19 epidemic, governments across the globe have been collaborating with the corporate sector to introduce NGS technology to the market as a viable diagnostic tool. The US Food and Drug Administration granted Illumina Inc. a case of emergency use permit for the first COVID-19 diagnostic using the next-generation sequence technique in June 2020. The Illumina COVIDSeq Test for qualitative identification of SARS-CoV-2 RNA has been approved by the FDA. As a result, the usage of next-generation sequencing (NGS) technologies is projected to increase during the pandemic.
Next Generation Sequencing Market Report Scope
Report Attribute |
Details |
Market size value in 2023 |
USD 8.40 billion |
Revenue forecast in 2030 |
USD 33.15 billion |
Growth rate |
CAGR of 21.66% from 2023 to 2030 |
Base year for estimation |
2022 |
Historical data |
2018 - 2021 |
Forecast period |
2023 - 2030 |
Next Generation Sequencing Market Segmentation
Grand View Research has segmented the global next generation sequencing market on the basis of technology, product, application, workflow, end-use, and region:
NGS Technology Outlook (Revenue, USD Million, 2018 - 2030)
- WGS
- Whole Exome Sequencing
- Targeted Sequencing & Resequencing
- DNA-based
- RNA-based
- Others
NGS Product Outlook (Revenue, USD Million, 2018 - 2030)
- Platform
- Sequencing
- Data Analysis
- Consumables
- Sample Preparation
- Target Enrichment
- Others
NGS Application Outlook (Revenue, USD Million, 2018 - 2030)
- Oncology
- Diagnostics and Screening
- Oncology Screening
- Sporadic Cancer
- Inherited Cancer
- Companion Diagnostics
- Other Diagnostics
- Research Studies
- Clinical Investigation
- Infectious Diseases
- Inherited Diseases
- Idiopathic Diseases
- Non-Communicable/Other Diseases
- Reproductive Health
- NIPT
- Aneuploidy
- Microdeletions
- PGT
- Newborn Genetic Screening
- Single Gene Analysis
- HLA Typing/Immune System Monitoring
- Metagenomics, Epidemiology & Drug Development
- Agrigenomics & Forensics
- Consumer Genomics
NGS Workflow Outlook (Revenue, USD Million, 2018 - 2030)
- Pre-Sequencing
- NGS Library Preparation Kits
- Semi-automated Library Preparation
- Automated Library Preparation
- Sequencing
- NGS Data Analysis
- NGS Primary Data Analysis
- NGS Secondary Data Analysis
- NGS Tertiary Data Analysis
NGS End-use Outlook (Revenue, USD Million, 2018 - 2030)
- Academic Research
- Clinical Research
- Hospitals & Clinics
- Pharma & Biotech Entities
- Other Users
NGS Regional Outlook (Revenue, USD Million, 2018 - 2030)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Denmark
- Sweden
- Norway
- Asia Pacific
- Japan
- China
- India
- South Korea
- Australia
- Thailand
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Kuwait
List of Key Players of Next Generation Sequencing Market
- Illumina
- F. Hoffman-La Roche Ltd.
- QIAGEN
- Thermo Fisher Scientific, Inc.
- Bio-Rad Laboratories, Inc.
- Oxford Nanopore Technologies
- PierianDx
- Genomatix GmbH
- DNASTAR, Inc.
- Perkin Elmer, Inc.
- Eurofins GATC Biotech GmbH
- BGI
Check out more related studies published by Grand View Research:
- Clinical Oncology Next Generation Sequencing Market - The global clinical oncology next generation sequencing market size is expected to reach USD 1.16 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 15.7% from 2023 to 2030. The clinical oncology next generation sequencing (NGS) market is in high demand. It is projected to expand at an increasing rate throughout the forecast period owing to the rising healthcare expenditure triggering the development of effective personalized medicine & therapeutic procedures for cancer and increasing adoption of NGS.
- Next Generation Sequencing Sample Preparation Market - The global next-generation sequencing (NGS) sample preparation market size is expected to reach USD 5.80 billion by 2025, expanding at a CAGR of 11.19% over the forecast period according to a new report by Grand View Research, Inc. Development of companion diagnostics and personalized medicine is expected to enhance the adoption of next-generation sequencing protocols in clinical practice. NGS technology is widely applicable in the ranostics domain thus leading to growth in NGS sample preparation market.
- Targeted Sequencing And Resequencing Market - The global targeted sequencing and resequencing market size is expected to reach USD 25.7 billion expanding at a CAGR of 22.59% from 2023 to 2030, according to a new report by Grand View Research, Inc. Owing to the continuous technological developments in genome sequencers along with broad applications and adoption of NGS technology is expected drive the market growth. Furthermore, the increasing application of NGS in molecular diagnostics and precision medicione is also anticipated to create growth opportunities for market growth.
Browse through Grand View Research's Biotechnology Research Reports.
About Grand View Research
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