Next-Generation Sequencing Market Anticipated To Be Worth $1...| MENAFN.COM

Saturday, 10 December 2022 05:17 GMT

Next-Generation Sequencing Market Anticipated To Be Worth $14.8 Billion By 2030: Grand View Research, Inc.'


(MENAFN- PR Newswire)

SAN FRANCISCO, Nov. 24, 2022 /PRNewswire/ -- The global next-generation sequencing market size is expected to reach USD 14.8 billion by 2030, registering a CAGR of 12.4% over the forecast period, according to a new report by Grand View Research, Inc. Next-generation sequencing (NGS) can be defined as a technique for determining the DNA or RNA sequence to understand the genetic variations that are responsible for diseases as well as other biological phenomena.

Key industry Insights & Findings from the report:

  • NGS is more economical in comparison to the conventional Sanger sequencing technology, while also offering a higher DNA sequencing throughput. The industry is being positively driven by the increasing automation in pre-sequencing and post-sequencing protocols, as well as in the data analysis aspect.
  • The rapidly growing area of personalized medicine and the developing companion diagnostics space are some of the trends defining the progress of the next-generation sequencing industry, while technological aspects such as cloud computing and data integration have also played a significant part in defining the market growth.
  • The oncology application segment was the most significant market contributor in terms of revenue in 2021. The rising incidence of cancer across the globe is the primary factor driving segment growth; according to GLOBOCAN 2020, around 19.3 million new cancer cases emerged in 2020, which is expected to rise to 28.9 million by 2040.
  • In terms of technology used, the target sequencing & resequencing segment is expected to be the dominant contributor to the market revenue with around 75% share in 2021, aided by a number of notable companies such as Illumina and Pacific Biosciences providing services in this area.
  • Based on the workflow, the sequencing segment accounted for the highest market share in 2021, on account of it being the most critical workflow phase. The systems involved in this phase carry out necessary functions like changing tubes & microtiter plates for streamlining the workflow; additionally, the provision of an accurate liquid amount, which is very important, can also be done by these systems.
  • The clinical research end-use segment is poised to advance at a substantial rate during the projection period; the segment growth is being propelled by the rising use of next-generation sequencing in cancer research and the discovery of cancer-related genes. Additionally, clinical research solutions have been launched at a fast pace by companies such as Thermo Fisher and Agilent Technologies, which is another enabler for the growth.
  • North America led the market with over 49% revenue share in 2021, aided by the extensive usage of NGS in multiple clinical laboratories for genetic testing services. Additionally, the presence of established healthcare infrastructure and significant investments in research and development in this space is driving the regional market.
  • Companies involved in the NGS space look towards collaborations and the launch of new products and services to stake their claim in the market. For instance, Illumina, one of the notable names in this industry, announced the launch of the NovaSeq X Series of production-scale sequencers that is expected to aid developments in the genomic discovery and improve patient outcomes.

Read 300-page market research report, ' next-generation sequencing market size, share & trends analysis report by technology (targeted sequencing & resequencing), by application (oncology, consumer genomics), by workflow, by product, by end-use, by region, and segment forecasts, 2022 - 2030 ', published by Grand View Research.

Next-generation Sequencing Market Growth & Trends

NGS aids in the proper interrogation and analysis of up to thousands of genes in multiple samples at one time, which has made it very appealing for use in hospitals and clinics, as well as for research purposes. The technique is being steadily integrated into the healthcare environment, into the screening and diagnosis of diseases, while it has also been widely utilized for accelerating the process of drug research in the personalized medicine space.

The COVID-19 pandemic has been a major enabler of industry advancement, with pharmaceutical and biotechnology companies have made significant movements in the space of test kits and vaccines in recent years. A notable example is the use of MinION Mk1C by a research group in China for COVID-19 sample sequencing; the product was developed by UK's Oxford Nanopore Technologies. Furthermore, during the first wave of the pandemic, in June 2020, the US FDA granted emergency use authorization to the Illumina COVIDSeq Test, developed to qualitatively identify the SARS-CoV-2 RNA. These are just a couple of instances that highlight the importance of next-generation sequencing during this period; as a result, their demand is poised to grow steadily in the near future. NGS offers several advantages such as accurate and rapid sample analysis, while being economical, which has led to its strong promotion by governments and private organizations for combating a variety of disorders.

A typical next-generation sequencing experiment involves basic steps that include the construction of a sequencing library from the sample, the clonal amplification of the DNA library to improve signal detection from the target, the sequencing of every DNA present in the library via a sequencing instrument, and the analysis of the data. The application areas of NGS include diagnostics & screening in the oncology segment, the clinical investigation of inherited and infectious diseases, and reproductive health. Additionally, the technique is also being widely utilized in the development of drugs, in the consumer genomics & metagenomics space, as well as in the agrigenomics and forensics department. A number of developed and developing nations are investing heavily in their national projects for population genome mapping, which is expected to play a role in strengthening the advancement of the NGS market.

Next-generation Sequencing Market Segmentation

Grand View Research has segmented the global Next-generation sequencing market based on technology, workflow, application, end-use, and region:

Next-generation Sequencing Market - Technology Outlook (Revenue, USD Million, 2018 - 2030)

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

Next-generation Sequencing
Market - Product Outlook (Revenue, USD Million, 2018 - 2030)

  • Platforms
    • Sequencing
    • Data Analysis
  • Consumables
    • Sample preparation
    • Target Enrichment
    • Others

Next-generation Sequencing Market - 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

Next-generation Sequencing Market - Workflow Outlook (Revenue, USD Million, 2018 - 2030)

  • Pre-sequencing
    • NGS Library Preparation Kits
    • Semi-automated Library Preparation
    • Automated Library Preparation
    • Clonal Amplification
  • Sequencing
  • NGS Data Analysis
    • NGS Primary Data Analysis
    • NGS Secondary Data Analysis
    • NGS Tertiary Data Analysis

Next-generation Sequencing Market - End-use Outlook (Revenue, USD Million, 2018 - 2030)

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

Next-generation Sequencing Market - Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • Italy
    • Spain
    • France
  • Asia Pacific
    • Japan
    • China
    • India
    • South Korea
    • Australia
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa
    • South Africa
    • Saudi Arabia

List of Key Players in the 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:

  • next-generation sequencing library preparation market - The global next-generation sequencing library preparation market size is expected to reach USD 3.78 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to register a CAGR of 13.16% from 2023 to 2030, owing the to increasing prevalence of genetic diseases, decreasing costs of sequencing, and rising usage of NGS in disease diagnostics.
  • next-generation sequencing data analysis market - The global next-generation sequencing data analysis market is expected to reach USD 1.54 billion by 2030, registering a CAGR of 12.69% over the forecast period, according to a new report by Grand View Research, Inc. The growth can be attributed to a significant decline in the cost of NGS installation in clinical diagnosis. Furthermore, the accessibility of genomic and proteomic data is anticipated to create significant growth opportunities.
  • next-generation sequencing services market - The global next-generation sequencing services market size is expected to reach USD 4.55 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 18.3% from 2022 to 2030. The development of next-generation sequencing (NGS) technologies has revolutionized gene sequencing in terms of reproducibility and cost savings.

Browse through Grand View Research's biotechnology industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Contact:

Sherry JamesCorporate Sales Specialist, USAGrand View Research, Inc.Phone: 1-415-349-0058Toll Free: 1-888-202-9519Email: [email protected] Web: grand view compass
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