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Global Next Generation Sequencing Market Predicted to Experience Consistent Growth at 15% CAGR 2030

 


The global next generation sequencing market is set to witness a growth rate of ~15% in the next 5 years. Rising demand for precision medicine, technological advancements in sequencing platforms, falling costs of sequencing, growing use in clinical diagnostics, expanding applications beyond human genomics, increased government and private funding, are some of the key factors driving the next generation sequencing market. 

Next Generation Sequencing (NGS) is a DNA sequencing technology that has transformed the sequencing of whole genomes, exomes and targeted regions of the genome rapidly and with high accuracy. Unlike Sanger sequencing, which sequences large number of DNA fragments in parallel, but not simultaneously, NGS sequences about the same number of DNA fragments usually within the same time frame. It is extensively used in research, clinical diagnoses, personalized medicine, and agricultural industries for tasks such as mutation discovery, pathogen detection, gene expression analysis, and genotyping analysis. NGS has transformed genomics, allowing the implementation of massive projects that have driven progress in precision medicine, oncology, rare disease discovery, and infectious disease monitoring.

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Rising demand for precision medicine to drive market growth

Precision medicine is a method of customizing disease prevention and treatment, which utilize genomic information to assist in the delivery of the appropriate treatment to the appropriate patient at the appropriate time. Precision medicine has resulted in new treatments and FDA-approved drugs that are customized to unique characteristics of an individual. Next-generation sequencing technology has revolutionized the science of genomics and is quickly reshaping clinical diagnosis and precision medicine. This technology permits rapid and affordable examination of large-scale genomic data, making it possible to thoroughly examine the genetic scenery of disease. The speed, precision, and decreasing cost of NGS has facilitated the development of precision medicine, which entails planning treatment according to an individual's disease-causing molecular changes. Although NGS has been tried in various health care environments, its application is most advanced in cancer.

Integration of AI and ML into genomic data analysis – A key market trend

AI has significantly influenced the analysis of NGS data. AI algorithms increase efficiency and precision as they help in automating and enhancing various aspects of NGS data analysis. For instance, a key application of AI in NGS data analysis includes the alignment of sequences to a known reference genome, a crucial step in detecting genome variations and mutations. AI algorithms help in streamlining this process by identifying the most suitable matching sequences and compensating for data errors or variations. AI also helps in the development of novel NGS data analysis tools and methodologies. For instance, AI can be used to create algorithms capable of predicting the performance of various NGS assays or to discover innovative approaches to NGS data analysis. The ability of AI algorithms to speedily and accurately process large quantities of data renders them as indispensable tools in the field of NGS data analysis.

Competitive Landscape Analysis

The global next generation sequencing market is marked by the presence of established and emerging market players such as Illumina, Inc.; Thermo Fisher Scientific, Inc.; Agilent Technologies, Inc.; F. Hoffmann-La Roche Ltd; DH Life Sciences, LLC; BGI Genomics Co., Ltd.; QIAGEN N.V.; Revvity; Eurofins Scientific; and PacBio; among others. Some of the key strategies adopted by market players include new product development, strategic partnerships and collaborations, and geographic expansion.

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Global Next Generation Sequencing Market Segmentation

This report by Medi-Tech Insights provides the size of the global next generation sequencing market at the regional- and country-level from 2023 to 2030. The report further segments the market based on product and service, technology, application, workflow, and end user.

Market Size & Forecast (2023-2030), By Product and Service, USD Million

  • Instruments
  • Consumables
  • Services
  • NGS Data Analysis Software and Platforms

Market Size & Forecast (2023-2030), By Technology, USD Million

  • Whole Genome Sequencing (WGS)
  • Whole Exome Sequencing
  • Targeted Sequencing & Resequencing
  • Others

Market Size & Forecast (2023-2030), By Application, USD Million

  • Oncology
  • Clinical Investigation
    • Infectious Diseases
    • Inherited Diseases
    • Other Diseases
  • Reproductive Health
    • NIPT
    • PGT
    • New-born Genetic Screening
    • Single Gene Analysis
  • HLA Typing/Immune System Monitoring
  • Metagenomics, Epidemiology & Drug Development
  • Agri genomics & Forensics
  • Consumer Genomics
  • Others

Market Size & Forecast (2023-2030), By Workflow, USD Million

  • Pre-Sequencing
  • Sequencing
  • NGS Data Analysis

Market Size & Forecast (2023-2030), By End User, USD Million

  • Academic and Research Institutes
  • Hospitals and Clinics
  • Pharmaceutical and Biotechnology Companies
  • Contract Research Organizations (CROs)
  • Others

Market Size & Forecast (2023-2030), By Region, USD Million

  • North America
    • US
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Rest of Asia Pacific
  • Latin America
  • Middle East & Africa

About Medi-Tech Insights

Medi-Tech Insights is a healthcare-focused business research & insights firm. Our clients include Fortune 500 companies, blue-chip investors & hyper-growth start-ups. We have completed 100+ projects in Digital Health, Healthcare IT, Medical Technology, Medical Devices & Pharma Services in the areas of market assessments, due diligence, competitive intelligence, market sizing and forecasting, pricing analysis & go-to-market strategy. Our methodology includes rigorous secondary research combined with deep-dive interviews with industry-leading CXO, VPs, and key demand/supply side decision-makers.

Contact:
Ruta Halde
 Associate, Medi-Tech Insights
 +32 498 86 80 79
 info@meditechinsights.com 

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