Number of pages: 100-120 | Report Format: PDF | Published date: 28 January, 2022
Historical Years – 2018 & 2019 | Base Year – 2020 | Forecasted Years – 2021 to 2031
Next-generation sequencing (NGS) is a technology for determining the sequence of DNA or RNA to study genetic variation associated with diseases or other biological phenomena. NGS is a massively parallel sequencing technology that has revolutionized the biological sciences. It provides ultra-high throughput, base-pair resolution data, providing the analysis of multiple genetic loci and samples from different couples simultaneously. It enables researchers to perform a wide variety of applications and study biological systems at a level never before possible.
The global next-generation sequencing (NGS) market is mainly driven by the rising prevalence of chronic diseases globally, the launch of technologically advanced systems, improving regulatory & reimbursement scenarios for NGS-based diagnostic tests, and application of NGS in precision medicine & molecular diagnostics. Furthermore, government initiatives to support the development of the technology are likely to play a pivotal role in driving the market globally. However, ethical concerns associated with NGS technology are likely to restrain the market growth to a certain extent.
The global next-generation sequencing (NGS) market has been analyzed from five perspectives: Products & Services, Technology, Application, End-User, and Region.
Next-Generation Sequencing (NGS) Market by Product & Services
Based on product & services, the next-generation sequencing (NGS) market has been segmented into systems & instruments, consumables, and software & services. The consumables segment dominated the market with the largest share. The growth of the segment can be attributed mainly to easy accessibility of consumables and their usage across a wide range of applications in the sample preparation process, library construction and to perform other pre-requisite steps of NGS.
Next-Generation Sequencing (NGS) Market by Technology
Based on technology, the next-generation sequencing (NGS) market has been segmented into sequencing by synthesis, ion semiconductor sequencing, single-molecule real-time sequencing, nanopore sequencing, and other sequencing technologies (sequencing by ligation, pyrosequencing, etc.). The sequencing by synthesis segment dominated the market with the highest share. Sequencing by synthesis allows analyzing DNA quickly and accurately. The growth of the segment can mainly be attributed to the development of advanced and cost-effective NGS platforms based on sequencing by synthesis technology.
Next-Generation Sequencing (NGS) Market by Application
Based on application, the next-generation sequencing (NGS) market has been segmented into diagnostics, drug discovery & development, and other applications (personalized medicine, forensic, etc.). The diagnostics segment dominated the market with the highest share owing to the rising prevalence of chronic diseases such as cancer and sudden viral epidemics of infectious diseases such as H1N1 & COVID-19. The outbreak of these diseases across the globe has raised the demand for effective NGS testing for the detection of such diseases.
Next-Generation Sequencing (NGS) Market by End User
Based on end-user, the next-generation sequencing (NGS) market has been segmented into hospitals, clinical & pathology labs, and others (pharmaceutical & biotechnology companies, academic institutes & research centers, etc.). The Clinical & pathology labs segment is expected to be the fastest-growing end-user segment in the market during the forecast period owing to the rise in testing for detection of COVID-19 on an enormous scale. Furthermore, the adoption of NGS as a gold standard for the testing of inherited conditions owing to its analytic accuracy, high throughput, and cost-effectiveness is also expected to boost the growth of the segment in the market.
Next-Generation Sequencing (NGS) Market by Region
Based on region, the global next-generation sequencing (NGS) market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (ROW). North America dominated the next-generation sequencing (NGS) market, followed by the Asia Pacific. The large share of North America in the global market can largely be attributed to the high prevalence of infectious diseases & cancers, rapid adoption of technologically advanced NGS coupled with favorable reimbursement policies, and developed healthcare infrastructure. Moreover, development in advanced NGS bioinformatics solutions is also expected to boost the market.
Some of the prominent players operating in the next-generation sequencing (NGS) market includes:-