The global next-generation sequencing (NGS) services market is projected to grow at a CAGR of 21.0% during the forecast period 2022 – 2031.
The global next-generation sequencing (NGS) services market is expected to reach USD 2,748.6 million by 2031 from USD 1,059.2 million in 2022; growing at a CAGR of 21.0% during the forecast period. Factors such as the declining price of sequencing, the high cost of sequencing infrastructure, the need for skilled professionals for efficient NGS sample preparation and analysis, and technological advancements in the field of sequencing are driving the growth of this market. However, the installation of in-house sequencing facilities in hospitals and universities is expected to limit the optimal market growth for NGS services during the forecast period.
“Targeted resequencing & custom gene panels are expected to grow at the highest CAGR during 2022 to 2031”
By type, the global NGS services market covers targeted resequencing & custom gene panels, RNA-Seq, de novo sequencing, exome sequencing, CHiP-Seq, whole-genome sequencing, methyl-seq, and other services. The targeted resequencing & custom gene panels segment is expected to grow at the highest CAGR during 2022 to 2031. Targeted sequencing/gene panels allow researchers to focus on the subset of genes or regions, which reduces the time consumed for sequencing, the cost of sequencing, and simplifies data analysis.
“Sequencing by synthesis technology to dominate the global NGS services market during the forecast period”
By technology, the NGS services market is segmented into sequencing by synthesis (SBS), ion semiconductor sequencing, single-molecule real-time sequencing, and nanopore sequencing. The SBS segment is estimated to account for the largest share of the NGS services market in 2022. The introduction of technologically advanced SBS platforms and decreasing the cost of sequencing are the major factors driving the growth of the SBS segment.
“APAC is projected to witness the highest growth during the forecast period “
While North America accounted for the largest share of the market in 2016, Asia-Pacific is expected to register the highest growth rate during the forecast period from 2022 to 2031. This is owing to the increasing incidence of target diseases, rising awareness regarding the benefits of NGS-based clinical applications, and growing research activity in the region.
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Breakdown of supply-side primary interviews: by company type, designation, and region:
- By Company Type – Tier 1 -31%, Tier 2 -48% and Tier 3 -21%
- By Designation – C level – 26%, Director level – 24%, Others – 50%
- By Region – North America – 29%, Europe – 35%, APAC – 21%, RoW – 15%
As of 2016, major players operating in the global NGS services market are BGI (China), 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), and GATC Biotech AG (Germany) among others.
This report studies the NGS services market based on type, technology, application, and end user. The report also analyzes factors (such as drivers, restraints, opportunities, and challenges) affecting the market growth. It evaluates opportunities and challenges in the market for stakeholders and provides details of the competitive landscape for market leaders. The report also studies micro markets with respect to their growth trends, prospects, and contributions to the total market. The report forecasts the revenue of market segments with respect to four main regions.
Reasons to Buy the Report:
This research focuses on various levels of analysis–competitive leadership analysis of 25 market players, and company profiles of top 15 market players–which together comprise and discuss basic views on the competitive landscape, emerging and high-growth segments of the NGS services market, and high-growth regions and countries and their respective drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on business strategies adopted by the major players in the NGS services market. The report analyzes the NGS services market based on types, technology, application, end user, and region.
- Product Development/Innovation: Detailed insights on the upcoming technologies, research and development activities, and product & service launches in the NGS services.
- Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for various NGS services across geographies.
- Market Diversification: Exhaustive information about new NGS services, untapped geographies, recent developments, and investments in the NGS services market.
- Competitive Assessment: In-depth assessment of market ranking, strategies, products and services, and sequencing capabilities of leading players in the NGS services market.
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