|Next Generation Sequencing Market Demand, Size, Share, Scope & Forecast To 2027
The global next generation sequencing market was valued at USD 5,793.4 million in 2019 and is expected to reach USD 22.16 billion by the year 2027, at a CAGR of 15.9%. Next-generation sequencing non-Sanger based high throughput method of sequencing. Entire next generation sequencing methodology engages a wide range of reagents, kits, equipment, software and tools for the pieces of its entire workflow that includes sample preparation, library preparation & amplification, sequencing, and analysis. Due to the constant innovations in the NGS technologies, there has been a significant decline in the sequencing costs, complexity and turnaround time. Horizons of the NGS applications is expanding, which in turn offers ample opportunities to emerging as well the existing market players.
Illumina, ThermoFisher Scientific, Pacific biosciences, and Oxford Nanopore Technologies are among key innovators of next generation sequencing technologies. Based on the application, individual technologies are conquering the NGS markets across the globe. Illumina’s SBS technology remains the top choice of the researchers across the globe, considering the reducing costs and high precision. Clinical Diagnostic applications of NGS is dominated by ThermoFisher’s semiconductor NGS technology owing it to its less turnaround time. Pacific Biosciences’ long read sequencing technology is paving its success path for the de-novo sequencing applications. Oxford Nanopore remains a key innovator with its long read, portable, real-time sequencing offerings. Despite differences in the technological basis of individual companies, the market players in NGS products & services are focused on providing low cost, efficient, reliable, user friendly, compact and accurate sequencing experience to their customers. Furthermore, bioinformatics tools plays a vital role in the advancement of NGS workflow and analysis, and continues to register significant growth in the global market. Also, NGS services holds more than one fourth of the revenue generated in the global next generation sequencing market and is fragmented in nature, unlike NGS products market.
Top Companies Profiled in the Report Include:
Illumina, Inc. (U.S.), Thermo Fisher Scientific, Inc. (U.S.), Pacific Biosciences of California, Inc. (U.S.), Oxford Nanopore Technologies, Ltd. (U.K.), BGI (China), PerkinElmer (U.S.), Agilent Technologies (U.S.), QIAGEN N. V. (Germany), Macrogen Inc. (South Korea), and Eurofins Scientific (Luxembourg)
The pharma and healthcare industry has undergone a revolutionary change owing to the COVID-19 pandemic with individuals increasing their focus on health and wellness. Companies operating in the industry have invested heavily in clinical trials and research studies to develop medications to cater to the growing unmet clinical demand on a global level. Implementation of cutting-edge technology in healthcare sector and increasing investment in research and development have contributed significantly to revenue growth of the market in the recent past. In addition, availability of favorable health insurance and reimbursement policies have also positively impacted the healthcare sector with more and more individuals opting to get treatment at hospital and clinical facilities. Rapid development of novel drugs and pharmaceuticals, increasing incidence of lifestyle and chronic diseases, establishment of state-of-the-art healthcare facilities, and rising availability of over-the-counter medications have significantly contributed to the revenue growth of the market.
The report has gather vital information about recent mergers and acquisitions, joint ventures, collaborations, partnerships, brand promotions, R&D activities, and government and corporate deals, among others through extensive primary and secondary research. The report also offers detailed analysis of each competitor along with their financial standing, global market position, product portfolio, manufacturing and production capacity, and business expansion plans.
The report offers a comprehensive overview of the regional bifurcation of the market with respect to market share, market size, revenue growth, import/export, production and consumption patterns, macro and micro economic growth factors, regulatory framework, investment and funding opportunities, and presence of key players in each region including North America, Asia Pacific, Latin America, Europe, and Middle East & Africa. The report offers a country-wise analysis to further discuss the revenue growth and lucrative growth opportunities for the Next Generation Sequencing market in these key regions.
Additionally, the report consists a detailed analysis of the segmentation of the Next Generation Sequencing market based on product types and end-use/application offered in the Next Generation Sequencing market.
Product & Service Outlook (Revenue in Million USD; 2017–2027)
Pre-sequencing Products and Services
Library Preparation & Target Enrichment
Hiseq X Ten & HiSeq X Five
Thermo Fisher Scientific
Ion GeneStudio S5 System
Ion GeneStudio S5 Plus System
Ion GeneStudio S5 Prime System
Pacbio Sequel Systems
Oxford Nanopore Technologies
Other Next-generation Platforms
Services for NGS Platforms
Exome & Targeted Sequencing and Custom Panels
Whole-genome Sequencing and De Novo Sequencing
NGS Data Analysis Software & Workbenches
NGS Data Analysis Services
NGS Storage Management and Cloud Computing Solutions
Technology Outlook (Revenue in Million USD; 2017–2027)
Sequencing by Synthesis (SBS)
Ion Semiconductor Sequencing
Single-molecule Real-time Sequencing (SMRT)
Application Outlook (Revenue in Million USD; 2017–2027)
Infectious Disease Diagnostics
Reproductive Health Diagnostics
Other Diagnostic Applications
Agricultural and Animal Research
End User Outlook (Revenue in Million USD; 2017–2027)
Academia & Research Centers
Hospitals & Clinics
Pharmaceutical & Biotechnology Companies
Other End Users
Country-wise regional analysis covers:
Middle East & Africa
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