Global NGS Market Size, Segmentation, Trends and Growth Analysis Forecast by 2030

NGS Market Overview and Analysis

The Next Generation Sequencing Market is currently valued at USD 10.2 billion in the year 2022 a CAGR of 13.43% over the studied period 2022-2030.

The next-generation sequencing (NGS) is a massively parallel sequencing technology that offers ultra-high throughput, scalability, and speed. The technology is used to determine the order of nucleotides in entire genomes or targeted regions of DNA or RNA. NGS has revolutionized the biological sciences, allowing labs to perform a wide variety of applications and study biological systems at a level never before possible. NGS has revolutionized the biological sciences, allowing labs to perform a wide variety of applications and study biological systems at a level never before possible.

NGS, such as cost efficiency, rapid and accurate sample analysis, and technological advancements, are estimated to drive the adoption of NGS technology during the forecast period. Developing genomic programs in many countries is expected to offer growth opportunities in this market.

NGS Market Latest Trends:

Since the healthcare industry is focused on faster and more accurate sequencing, reduced costs, and improved data analysis. These advancements hold great promise for unlocking new insights into genomics and improving our understanding of diseases and personalized healthcare.

Furthermore, in 2023, Researchers from the Perelman School of Medicine at the University of Pennsylvania have invented a new way to map specific DNA markings called 5-methylcytosine (5mC) which regulate gene expression and have key roles in health and disease. The innovative technique allows for scientists to profile DNA using very small samples and without damaging the sample which means it can potentially be used in liquid biopsies (testing for cancer markers in the bloodstream) and early cancer detection. Additionally, unlike current methods, it can identify 5mC without confusing it with other common markings. The new approach is named Direct Methylation Sequencing (DM-Seq). thus, trends and technologies are fuelling the studied market growth.

Segmentation

The next-generation sequencing market is segmented

By Type of Sequencing

• Whole Genome Sequencing
• Targeted Resequencing
• Whole Exome Sequencing
• RNA Sequencing
• CHIP Sequencing
• De Novo Sequencing
• Methyl Sequencing

Product Type

• Instruments
• Reagents
• Consumables
• Services

End User

• Hospitals and Healthcare
• Institutions Academics
• Pharmaceutical
• Biotechnology Companies

Application

• Drug Discovery
• Personalized Medicine
• Genetic Screening
• Diagnostics
• Agriculture
• Animal Research
• Other 

Geography

• North America
• Europe
• Asia-Pacific
• Middle East
• Africa
• South America  

The report offers market size and forecasts in value (in USD million) for all the above-mentioned segments.

Driver & Restraints

Increasing Applications in Clinical Diagnosis and Speed, Cost, and Accuracy

Precision medicines require a companion diagnostic (CDx) to guide treatment for patients who will respond to therapy, whereas non-precision medicines involve a “one size fits all” approach with no discriminatory test to distinguish responders from non-responders. Benchmarked against the European Society of Medical Oncology Magnitude of Clinical Benefit Scale (MCBS), the CDx medicine combination can deliver more clinically meaningful benefits in both curative and non-curative settings. If more complex and potentially more expensive precision medicines are to have a truly global impact, then CDx-guided medicine development and deployment are essential. The market is also expected to grow because replacing old technologies like microarrays will make them more efficient and because more drug discovery applications will need NGS technology. For example, an article published by Elsevier in August 2022 said that NGS was better than microarrays at detecting DNA and doing other genomic tasks.

Growing Healthcare Expenditure Supporting the Development of Effective Diagnostic and therapeutic Procedures For Cancer

As per the latest data updated by OECD in 2023, the average health expenditure growth of 5% in 2020, driven by the exceptionally high growth in spending by government and compulsory schemes (+8.1%) in response to the additional need to address the COVID-19 pandemic and also the estimates suggests that the more than 20 countries globally suggest that health spending continued to grow strongly in 2021. Thus, such instances report an increase in healthcare expenditure, leading to the strong development of various diagnostic and therapeutic procedures for cancer.

Restraints:

Legal and Ethical Issues and Interpretation of Complex Data and Lack of Skilled Professionals

NGS poses particular challenges in three main ethical areas: privacy, informed consent, and return of results. The use of NGS also presents difficulties for existing ethical frameworks for the return of results and informed consent. NGS grants access to the entire genetic profile of an individual, while, at the same time, many questions remain regarding the appropriate interpretation of this information. Furthermore, the limitations of privacy protections should be communicated to patients. Clinical repositories that turn over genomic data to researchers in a de-identified fashion could insist that no re-identification will take place as a condition of access unless there is consent. It will also be necessary to implement privacy practices in ways that do not place overly restrictive burdens on scientific research.

Covid-19 Impact on NGS Market

An article published by the National Centre of Biotechnology Information in July 2021, reported that the current testing methodologies for COVID-19 diagnosis and increased use of next-generation sequencing (NGS) technology for the detection of SARS-CoV-2 and monitoring phylogenetic evolution in the current COVID-19 pandemic. Thus, the demand for NGS technology significantly increased during the COVID-19 pandemic. In the current scenario, due to the use of NGS in the development of precision medicine, the market is expected to witness significant growth over the forecast period.

Segmental Analysis:

Whole Genome Sequencing Segment is Expected to witness significant growth over the Forecast Period

Whole-genome sequencing (WGS) directly sequences all available DNA materials from a sample. In comparison to targeted sequencing, WGS explores a much larger sequence space to generate a huge genetic diversity.  Whole-genome sequencing (WGS) is a comprehensive method for analyzing entire genomes. Genomic information has been instrumental in identifying inherited disorders, characterizing the mutations that drive cancer progression, and tracking disease outbreaks. Furthermore, government initiatives are driving the growth of the studied segment. For instance, in December 2022, The Government of the UK launched the 100,000 Genomes Project demonstrated the success of using whole genome sequencing to diagnose rare diseases. Whole genome sequencing of newborn babies, used alongside the blood spot test, could detect thousands more rare conditions and have a major impact on the quality of life for children born with these conditions. Thus, such government initiatives are contributing to the segment's growth.

Reagents and Consumables Segment is Expected to Contribute to the Market’s Growth

NGS Reagents are complete sets of optimized reagents that are ideal for converting a small amount of DNA / RNA input into indexed libraries for NGS. Also, these reagents are products for use in DNA-related processes and techniques such as DNA sequencing, DNA synthesis, mutagenesis, DNA cloning and mapping, PCR cloning, and more. Products may include plasmids, buffers, labeling technology, columns, and kits. Furthermore, the launch of new products by key market players is driving the growth of the studied segment. For instance, in September 2022, Illumina, Inc. (NASDAQ: ILMN), a global leader in DNA sequencing and array-based technologies, launched the NovaSeq X Series (NovaSeq X and NovaSeq X Plus), new production-scale sequencers that will push the limits of what is possible with genomic medicine, enabling faster, more powerful, and more sustainable sequencing. Using revolutionary new technology, NovaSeq X Plus can generate more than 20,000 whole genomes per year – 2.5 times the throughput of prior sequencers – greatly accelerating genomic discovery and clinical insights, to understand disease and ultimately transform patient lives.

Pharmaceutical and Biotechnology Companies are Expected to Witness significant growth Over the Forecast Period

Genome sequencing has allowed the pharmaceutical industry to develop precision medicines as well. High R&D investments in the pharmaceutical and biotechnology sectors are expected to boost the utilization of NGS technologies, driving the demand for NGS informatics solutions. Furthermore, the increasing investment in pharmaceutical R&D is contributing to the segment’s growth. For instance, in 2021 Congressional Budget Office reported a 21% growth in pharmaceutical R&D over the past two decades. Thus, such instances are contributing to the segment’s growth.

Drug Discovery and Personalized Medicine Segment is expected to witness significant growth over the Forecast Period

Precision medicine marks a new relationship between genomics and drug discovery, one that provides both insights into the mechanisms and potential treatment options of a single patient's disease. The development of next-generation sequencing (NGS) techniques, allowed for a cost- and time-effective sequencing of tumor DNA, leading to a "genomic era" of cancer research and treatment. NGS provided a significant step forward in Personalized Medicine (PM) by enabling the detection of somatic driver mutations, resistance mechanisms, quantification of mutational burden, and germline mutations which settled the foundation of a new approach in cancer care. Thus, the segment is expected to witness significant growth over the forecast period.

North America Region is Expected to Witness Significant growth Over the Forecast Period in NGS Market

North America is expected to hold a significant share of the market and is expected to continue the trend over the coming years. Next-generation sequencing (NGS) technology is gaining popularity as a routine clinical diagnostic test. Factors such as the rising prevalence of chronic and infectious diseases, the increasing spending on genomics, and the rising developments by key market players are expected to boost market growth.

The growth of the market is also expected to be helped by the fact that key market players are making more and more changes. For example, in September 2022, Predicine, Inc. said that the US FDA had given the PredicineCARETM cfDNA Assay, a Next-Generation Sequencing (NGS) assay for tumor mutation profiling in cfDNA isolated from liquid biopsy samples from cancer patients, breakthrough device designation. Similarly, in August 2022, Thermo Fisher Scientific announced that the United States FDA granted premarket approval to an NGS-based test known as the "Oncomine Dx Target Test’ as a companion diagnostic (CDx) to identify patients whose tumors have HER2 (ERBB2) activating mutations (SNVs and Exon 20 Insertion) in non-small cell lung cancer (NSCLC) who may be candidates for ENHERTU (fam-trastuzumab deruxtecan nxki) as a companion diagnostic (CDx).

Competitive Landscape -

The next-generation sequencing (NGS) market is highly fragmented, with the presence of several global and international players. The key players are adopting different growth strategies to enhance their market presence, such as partnerships, agreements, collaborations, new product launches, geographical expansions, mergers, and acquisitions. Some of the key players in the market are :-

• F. Hoffmann-La Roche Ltd.
• Thermo Fisher Scientific Inc.
• Agilent Technologies
• Illumina Inc.
• PerkinElmer Inc.
• others.

Recent Development

January 2023: QIAGEN announced a strategic partnership with California-based population genomics leader Helix to advance next-generation sequencing companion diagnostics in hereditary diseases.

March 2023: The company SOPHiA GENETICS announced a new partnership with Qiagen that will pair QIAseq reagent technology with the DDM platform to enhance tumor analysis through next-generation sequencing (NGS).

Frequently Asked Questions (FAQ) :

Q1. How big is the NGS Market ?

Q2. Which Region is expected to hold the higest Market share ?

Q3. What segments are covered in the NGS Market Report?

Q4. Which factor is Limiting the growth of NGS Market?