Next-Generation Sequencing (NGS) Market by Products & Services [Systems & Instruments, Consumables, and Software & Service], Technology [Sequencing by Synthesis, Ion Semiconductor Sequencing, Single-molecule Real-time Sequencing, Nanopore Sequencing], Application [Diagnostics and Drug Discovery & Development], End User [Hospitals and Clinical & Pathology Labs] – Global Outlook & Forecast 2021-2031

Report Overview

The global next-generation sequencing (ngs) market was pegged at ~US$ 9.4 billion in 2020 and is expected to witness a CAGR of ~20.5% during the forecast period.

Market Fundamentals  

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.

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Market Dynamics

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.

Market Ecosystem

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

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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.

Competitive Landscape

Some of the prominent players operating in the next-generation sequencing (NGS) market includes:-

• Illumina, Inc
• Thermo Fisher Scientific
• PerkinElmer Inc
• QIAGEN
• Eurofins Scientific
• F. Hoffmann-La Roche Ltd
• Takara Bio Inc
• GENEWIZ
• BGI
• Macrogen Oceania, among others

Strategic Developments

• In Sept 2020, BioReference Laboratories, Inc., along with its specialty oncology division, GenPath, announced the launch of OnkoSight Advanced, a next-generation sequencing (NGS) assay that enables revolutionary deoxyribonucleic acid (DNA) mutational profiling of tumor samples
• In Aug 2020, Quest Diagnostics launched an automated next-generation sequencing (NGS) engine to enable individuals to access highly accurate genetic testing providing insights into inherited diseases including cancers of the breast, colon, and other conditions through AncestryHealth
• In May 2020, Bayer and ArcherDX, Inc. announced a global collaboration for the development and commercialization of next-generation sequencing (NGS)-based companion diagnostic (CDx) for Vitrakvi (larotrectinib). The primary objective of the collaboration is to broaden patient access to comprehensive genomic testing inclusive of neurotrophic receptor tyrosine kinase 1 (NTRK1), NTRK2, and NTRK3 gene fusions and to help improve the identification of appropriate treatment options for patients with TRK fusion cancer which can lead to meaningful treatment options
• In Jan 2020, Roche announced its 15-year, non-exclusive partnership with Illumina to broaden the adoption of distributable next-generation sequencing (NGS) based testing in oncology

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