As per our report, the global NGS market size is estimated to grow USD 10.13 billion by 2026 from USD 4.31 billion in 2021, growing at a CAGR of 18.66% during the forecast period.
The next-generation sequencing (NGS) approach uses massively parallel processing in the formation of DNA sequencing. There are two methods to prepare the templates, namely amplified templates originated from single molecules and single DNA molecule templates. NGS plays a pivotal role in clinical practice by improving diagnosis procedures. This technique is mainly used in discovering disease-causing genes. It takes a single day to complete the entire human genome with this technique.
MARKET DRIVERS:
Increasing incidences of chronic diseases are undoubtedly a significant factor propelling global next-generation sequencing market growth.
Growing investments in research institutes in the biotechnology field are accelerating the growth of the market. The rise in the need to improve diagnostic procedures and also to ensure quality treatment is also propelling the growth of this market.
Growing studies on genomes are likely to outshine the global NGS market growth.
Increasing the geriatric population is also a common factor leveling up the growth rate of this next-generation sequencing market. Growth opportunities lie in the government's rising support in introducing reimbursement schemes in favor of the public.
Next-generation sequences provide enormous cloud computing opportunities as potential data management services in the emerging markets offer numerous opportunities to the companies operating in this space. Opportunities are to be delivered due to growth in the government initiatives for the genomics projects in large-scale industries such as drug developments and research of the clinical diagnostics processes. Nowadays, the growing trend in medicine of personalized medical facilities in the next-generation sequencing market.
MARKET RESTRAINTS:
The cost of installation and maintenance of the equipment in laboratories is a bit expensive, which is slowly impeding the market's growth.
Lack of standardization is also an attribute limiting the demand of the NGS market. The major challenge faced by the global next-generation sequencing market is the interpretation of the data's DNA sequence, acceleration of the analysis of the data, shortage in the storage of the data generated in the bottleneck. There are serious issues such as data originating from the diverse datasets usage, which needs to be addressed. Poor in records of the data sequences. Some DNA’s like short fragments should be analyzed and compared with the reference databases, which is against but efficient and fast. To face these many challenges, many solutions were proposed by the commercial software and industries, but still existing many hardships to handle.
Another significant challenge is updating the data to the central or disturbed data storage and analysis services by the clients' computers and the data parallelization using the grid or cloud solutions.
Impact of COVID-19 on the global NGS market:
Next-generation sequences have a crucial and essential role in the clinical labs and research to fight against the SARScov-2, which results in the COVID-19. When the world is fighting against the dangerous disease which is the COVD-19 pandemic, there is an evolution in the genome, giving vital insights on spreading the impact on different people. To fight against the COVID-19, the researchers are, and scientists together found information by the next generation sequence. Flomics are the latest research findings active in monitoring and contributing to the specialty in the following generation sequencing field. It helps find the cruciality of the interaction between the viral and host genomes, which helps find the individuals levels of riskiness.
The next-generation sequence gives an idea with a deep understanding of the disease and the impact of the pandemic on humans' health. The biotech partners, which are national and international, joined the force by Flomics with the specialization of the NGS tests, which helps develop the solutions based on the cloud to detect the COVID-19. Transformation of the raw data into interpretable clinical information will help manage the pandemic without bioinformatics expertise but within a few clicks from any place like clinics, hospitals, and research laboratories.
REPORT COVERAGE:
|
REPORT METRIC |
DETAILS |
|
Market Size Available |
2020 to 2026 |
|
Base Year |
2020 |
|
Forecast Period |
2021 to 2026 |
|
Segments Covered |
By Product, Technology, Application, and Region |
|
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
|
Regions Covered |
North America, Europe, Asia Pacific, Latin America, Middle East, and Africa |
This research report on the global next-generation sequencing market has been segmented and sub-segmented based on the product, technology, application, and region.
Next-Generation Sequencing Market - By Product:
Based on the product, the services segment is predicted to lead the global NGS market during the forecast period due to the rise in the number of genetic disorders across the world. Additionally, the increase in the demand for sequence-based products, the need for data management services on storing a large amount of data, adopting the genetic test within a short period, existing guidelines, and health reimbursement policies further help the segment to occupy the leading position.
Next-Generation Sequencing Market - By Technology:
Based on the technology, the targeted sequencing segment is expected to show the highest CAGR during the forecast period due to the growing capabilities for whole-genome sequencing. On the other hand, the whole genome sequencing segment is projected to showcase a healthy growth rate over the forthcoming years.
Next-Generation Sequencing Market - By Application:
Based on the application, the diagnostics segment accounted for the largest share in the global NGS market in 2020 and is estimated to repeat the same throughout the forecast period. With a growing number of cancer cases worldwide, reimbursement policies from the government that are favorable towards NGS-based tests in the U.S. are majorly anticipating the growth of this segment.
The personalized medicine segment to predicted to have a prominent CAGR during the forecast period. Increasing awareness related to NGS, growing demand for independent drug treatment, and early detection or prevention of disorders are likely to enhance the segment growth during the forecast period.
Next-Generation Sequencing Market - By Region:
Geographically, the North American regional market is poised to account for the prime market share in the global NGS market, followed by Europe. Between 2021 to 2026, the North American NGS market is estimated to be growing at a CAGR of 16.81%. Due to increased technological innovations and growing investments in the field, North America is expected to register the highest CAGR and dominate the market during the forecast period. The regional market growth is also expected to be driven by the advancement of NGS bioinformatics solutions and the presence of significant players in the region.
The European NGS market also accounted for a substantial share in the global market in 2020 and is predicted to be worth USD 2.71 billion by 2026. During the forecast period, the UK NGS market is forecasted to lead the European market followed by Germany and France.
The APAC NGS market is projected to showcase the fastest CAGR from 2021 to 2026. China is expected to grow at the highest CAGR during the forecast period in the APAC region. The presence of noteworthy developments in China and Japan to integrate new technologies and the development of healthcare, R&D, and clinical development frameworks of developing economies such as India and Australia have led the Asia Pacific market to witness rewarding growth throughout the forecast period.
KEY MARKET PARTICIPANTS:
A few of the noteworthy Companies leading the global next-generation sequencing market profiled in the report are Illumina, Thermo Fisher Scientific, Pacific Biosciences, Macrogen Inc., Partek Inc., Genomatix Software GmbH, Perkin Elmer Inc., GATC Biotech Ag, Agilent Technologies Inc., Biomatters Ltd., BGI (Beijing Genomics Institute), Oxford Nanopore Technologies Ltd., DNASTAR Inc., Knome Inc., and Qiagen N.V.
RECENT DEVELOPMENTS IN THE NGS MARKET:
1.Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Analysis Design
2.3 Research Phases
2.3.1 Secondary Research
2.3.2 Primary Research
2.3.3 Econometric Modelling
2.3.4 Expert Validation
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 By Product
5.1.1 Software
5.1.2 Services
5.2 By Technology
5.2.1 Whole Targeted Re-Sequencing
5.2.2 Genome Sequencing
5.2.3 De Novo Sequencing
5.2.4 Exome Sequencing
5.2.5 RNA-Seq
5.2.6 ChIP-Seq
5.2.7 Methyl-Seq
5.3 By Application
5.3.1 Diagnostics
5.3.2 Drug Discovery
5.3.3 Biomarker Discovery
5.3.4 Personalized Medicine
5.3.5 Agriculture and Animals Research
6. Geographical Analysis
6.1 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.2 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.3 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 South Korea
6.4 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Argentina
6.4.4 Mexico
6.4.5 Rest of Latin America
6.5 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle East
6.5.3 Africa
7.Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8.Market Leaders' Analysis
8.1 Illumina Inc.
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Thermo Fisher Scientific
8.3 Life Sciences (Roche)
8.4 Pacific Biosciences
8.5 Macrogen Inc.
8.6 Partek Inc.
8.7 Genomatix Software GmbH
8.8 Perkin Elmer inc.
8.9 GATC Biotech Ag
8.10 Agilent Technologies Inc.
8.11 Biomatters Ltd.
8.12 CLC Bio (Qiagen)
9.Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10.Expert Opinions
10.1 Market Outlook
10.2 Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
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