Global Ngs Services Market
Market Size in USD Billion
CAGR :
% 
 Forecast Period |
2024 –2031 |
 Market Size (Base Year) |
USD 9.79 Billion |
 Market Size (Forecast Year) |
USD 48.06 Billion |
 CAGR |
% |
| Major Markets Players |
|
Global Next-Generation Sequencing (NGS) Services Market Segmentation, By Type (Targeted Sequencing/Gene Panels, RNA-Sequencing, De Novo Sequencing, Exome Sequencing, CHiP-Sequencing, Whole-genome Sequencing, Methyl-Sequencing, Other Services), Technology (Sequencing by Synthesis, Ion Semiconductor Sequencing, Single-Molecule Real-time Sequencing, Nanopore Sequencing), Application (Diagnostics, Drug Discovery, Biomarker Discovery, Microbial Genetics, Agriculture, and Animal Research, Other Applications), End User (Academic and Government Institutes and Research Centers, Hospitals and Clinics, Pharmaceutical and Biotechnology Companies, Other End Users) – Industry Trends and Forecast to 2031
Next-Generation Sequencing (NGS) Services Market Analysis
Growing number of research and development activities pertaining to mutation analysis, RNA detection and linkage analysis is creating lucrative growth opportunities for the market. Some of the major players operating in this market are Luminex Corporation (US), Thermo Fisher Scientific Inc. (US), Illumina, Inc (US), Bio-Rad Laboratories, Inc. (US), QIAGEN and PerkinElmer, Inc. (US).
Next-Generation Sequencing (NGS) Services Market Size
Global Next-Generation Sequencing (NGS) Services Market size was valued at USD 9.79 billion in 2023 and is projected to reach USD 48.06 billion by 2031, with a CAGR of 22.00% during the forecast period of 2024 to 2031.
Report Scope and Market Segmentation
|
Attributes |
Next-Generation Sequencing (NGS) Services Key Market Insights |
|
Segmentation |
|
|
Countries Covered |
U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America. |
|
Key Market Players |
Medtronic (Ireland), Ethicon US, LLC. (U.S.), Thermo Fisher Scientific Inc. (U.S.), Novo Nordisk A/S (Denmark), BD (U.S.), Stryker (U.S.), Boston Scientific Corporation (U.S.), Luminex Corporation (US), Eurofins Scientific SE (Luxembourg), PerkinElmer, Inc. (U.S.), QIAGEN (Germany), Macrogen Inc. (South Korea), GENEWIZ, Inc. (U.S.), Illumina, Inc. (U.S.), Novogene Corporation (China), Abcam plc (UK), Merck KGaA (Germany), Promega Corporation (US), Siemens (Germany), and GATC Biotech AG (Germany) |
Next-Generation Sequencing (NGS) Services Market Definition
Next-generation sequencing is a technology that is aggressively being employed by the hospitals and clinics for analysis, testing, and diseases diagnostics. Next-generation sequencing is used in the drug development processes using a wide array of methods.
Next-Generation Sequencing (NGS) Services Market Dynamics
Drivers
- Rising awareness about sequencing
Surging awareness about the benefits of next generation sequencing is one of the major factors fostering the growth of the market. Some benefits of next generation sequencing technology are low cost and pricing of sequencing technology, high accuracy, high speed and quicker results and precision in the results.
- Research and development proficiencies
Rising expenditure for research and development proficiencies especially in the developed and developing economies pertaining to the medical instruments and devices will further create lucrative market growth opportunities. Research and development proficiencies being conducted for the integration of advanced technologies in the healthcare facilities and on the detection of infectious diseases is also bolstering the market growth rate.
- Government investments on healthcare infrastructure
The increase in the funding by the federal government is set to drive the market growth rate. Moreover, growth and expansion of healthcare industry being driven by both public and private players especially in the developing economies will create lucrative market growth opportunities. Also, high return on investments assured by the research activities will also work in the favour of the market.
Additionally, growing adoption of companion diagnostics for increasing the safety and efficacy of therapies, surge in the personal disposable income level, introduction of technologically driven products in hospitals, increasing investment for the development of advanced medical products and devices and growing awareness about the benefits of multiplex assays, positively affect the market growth rate.
Opportunities
Furthermore, upsurge in the public-private funding for target research activities, increasing use of multiplex assays in companion diagnostics, rising geriatric population base and validation of the biomarkers in molecular and protein diagnostics, along with the rising need of the high-throughput and automated systems all around the world will extend profitable opportunities for the market players in the forecast period of 2024 to 2031. Additionally, surging number of strategic collaborations, rising internet penetration rate, growing number of hospitals and laboratories, increasing availability and affordability of low-cost clinical microbiology products and increasing per capita expenditure on health care will further expand the market's growth rate in the future.
Restraints/Challenges
On the other hand, high cost associated with the research and development proficiencies, limited infrastructural facilities and operational barriers related to the use of diagnostic tests are expected to obstruct market growth. Also, lack of favourable reimbursement scenario and technology penetration in the developing economies, limited reimbursement policies for microbiology testing procedures, installation in hospitals and universities of in-house sequencing facilities, surging ethical concerns and lack of skilled working professionals for conducting diagnostics tests in low- and middle-income countries are projected to challenge the market in the forecast period of 2024-2031.
This next-generation sequencing (NGS) services market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the next-generation sequencing (NGS) services market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Next-Generation Sequencing (NGS) Services Market
COVID-19 has significantly and positively impacted the market. In this pandemic phase, assays like SARS-CoV-2 assay were used for COVID diagnosis. Growing awareness about the benefits of next generation sequencing created a great scope of growth. Various companies have received approval from FDA which further carved the way for the growth of the market. The manufacturers have launched several assays during this pandemic phase which has further pushed the growth rate of the market.
Next-Generation Sequencing (NGS) Services Market Scope
The next-generation sequencing (NGS) services market is segmented on the basis of type, technology, application and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Targeted Sequencing/Gene Panels
- RNA- Sequencing
- De Novo Sequencing
- Exome Sequencing
- CHiP- Sequencing
- Whole-genome Sequencing
- Methyl- Sequencing
- Other Services
Technology
- Sequencing by Synthesis (SBS)
- Ion Semiconductor Sequencing
- Single-Molecule Real-time (SMRT) Sequencing
- Nanopore Sequencing
Application
- Diagnostics
- Oncology
- Reproductive Health
- Infectious Diseases
- Rare Genetic Disorders
- Others
- Drug Discovery
- Biomarker Discovery
- Microbial Genetics, Agriculture, and Animal Research
- Other Applications
End User
- Academic and Government Institutes
- Research Centers
- Hospitals and Clinics
- Pharmaceutical and Biotechnology Companies
- Other End Users
Next-Generation Sequencing (NGS) Services Market Regional Analysis
The next-generation sequencing (NGS) services market is analyzed and market size insights and trends are provided by country, type, technology, application and end user as referenced above.
The countries covered in the next-generation sequencing (NGS) services market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the next-generation sequencing (NGS) services market because of the strong base of healthcare facilities, rising investment from key players in the growth of the advanced devices, well-established distribution channels for assay product manufacturers and rising number of research activities in this region.
Asia-Pacific is expected to witness significant growth during the forecast period of 2024 to 2031 due to the increase in government initiatives to promote awareness, rise in medical tourism, growing research activities in the region, and the growing demand for quality healthcare in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Next-Generation Sequencing (NGS) Services Market Share
The next-generation sequencing (NGS) services market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to next-generation sequencing (NGS) services market.
Next-Generation Sequencing (NGS) Services Market Leaders Operating in the Market Are:
- Medtronic (Ireland)
- Ethicon US, LLC. (U.S.)
- Thermo Fisher Scientific Inc. (U.S.)
- Novo Nordisk A/S (Denmark)
- BD (U.S.)
- Stryker (U.S.)
- Boston Scientific Corporation (U.S.)
- Luminex Corporation (US)
- Eurofins Scientific SE (Luxembourg)
- PerkinElmer, Inc. (U.S.)
- QIAGEN (Germany)
- Macrogen Inc. (South Korea)
- GENEWIZ, Inc. (U.S.)
- Illumina, Inc. (U.S.)
- Novogene Corporation (China)
- Abcam plc (UK)
- Merck KGaA (Germany)
- Promega Corporation (US)
- Siemens (Germany)
- GATC Biotech AG (Germany)
Latest Developments in Next-Generation Sequencing (NGS) Services Market
- In December 2021, Roche launched the AVENIO Edge System to advance next-generation sequencing (NGS) technologies
- In January 2021, Illumina and Myriad Genetics partnered for developing a kit-based version of the myChoice companion diagnostic (CDx) test. To improve the genomic profiles of tumor samples, this method integrates NGS technology with companion diagnostics
SKU-
Get online access to the report on the World's First Market Intelligence Cloud
- Interactive Data Analysis Dashboard
- Company Analysis Dashboard for high growth potential opportunities
- Research Analyst Access for customization & queries
- Competitor Analysis with Interactive dashboard
- Latest News, Updates & Trend analysis
- Harness the Power of Benchmark Analysis for Comprehensive Competitor Tracking
Research Methodology
Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Customization Available
Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.
