Next Generation Sequencing (NGS) Market Size, Share, Trends, Development Strategies, Competitive Scenario and Segmentation Analysis

PRESS RELEASE
Published September 21, 2023

Next Generation Sequencing (NGS) Market analysis report gives out a lot for the business and bestows with the solution for the critical or complex business problems. The report displays better market insights with which driving the business into right direction becomes simple and easy. A strong research methodology comprises of data models that include market overview and guide, vendor positioning grid, market time line analysis, company positioning grid, company market share analysis, standards of measurement, top to bottom analysis and vendor share analysis. For an exceptional business growth, companies must take up market research report service which is imperative in today’s market place.

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.

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.

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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.

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.

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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.

TOC:

1 INTRODUCTION

1.1 OBJECTIVES OF THE STUDY

1.2 MARKET DEFINITION

1.3 OVERVIEW OF GLOBAL NEXT GENERATION SEQUENCING (NGS) MARKET

1.4 CURRENCY AND PRICING

1.5 LIMITATIONS

1.6 MARKETS COVERED

2 MARKET SEGMENTATION

2.1 MARKETS COVERED

2.2 GEOGRAPHICAL SCOPE

2.3 YEARS CONSIDERED FOR THE STUDY

2.4 DBMR TRIPOD DATA VALIDATION MODEL

2.5 PRIMARY INTERVIEWS WITH KEY OPINION LEADERS

2.6 MULTIVARIATE MODELLING

2.7 MARKET APPLICATION COVERAGE GRID

2.8 PRODUCT TYPE LIFELINE CURVE

2.9 DBMR MARKET POSITION GRID

2.1 VENDOR SHARE ANALYSIS

2.11 SECONDARY SOURCES

2.12 ASSUMPTIONS

3 EXECUTIVE SUMMARY

3.1 PESTEL’S ANALYSIS

3.2 PORTER’S FIVE FORCES MODEL

4 REGULATIONS OF GLOBAL NEXT GENERATION SEQUENCING (NGS) MARKET

5 MARKET OVERVIEW

6 IMPACT OF COVID-19 ON GLOBAL NEXT GENERATION SEQUENCING (NGS) HEALTHCARE INDUSTRY

7 GLOBAL NEXT GENERATION SEQUENCING (NGS) MARKET, BY PRODUCT

8 GLOBAL NEXT GENERATION SEQUENCING (NGS) MARKET, BY APPLICATION

9 GLOBAL NEXT GENERATION SEQUENCING (NGS) MARKET, BY END USER

Continued…

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