Next Generation Sequencing Market Analysis

Next Generation Sequencing (NGS) is a high-throughput DNA sequencing technology that separates billions or millions of DNA strands and sequence in parallel, yielding more output and reducing the need for fragment-cloning methods (Sanger sequencing of genomes). However, read lengths for NGS are shorter than Sanger due to the signal to noise ratio, which increases with read length. NGS allows simultaneous screening of mutations in large number of genes. For example, a patient with symptoms of Leigh syndrome can perform exome sequencing to find candidate gene variants. Furthermore, it is used for analysis and for interpreting sequenced data, analyzing specific gene associated with the patient’s clinical condition

The global next generation sequencing market is estimated to be valued at US$ 12,870.5 million in 2022 and is expected to exhibit a CAGR of 18.3% during the forecast period (2022-2030).

Figure 1.Global Next Generation Sequencing Market Share (%), by Application, 2022

Rising demand for early detection of cancer and infectious diseases are expected to drive growth of the next generation sequencing market

The chances of successful treatment increase when cancer and infectious diseases are detected at the early stage. One of the major factors that drive growth of the next generation sequencing market is the rising prevalence of cancer and other infectious diseases such as tuberculosis, meningococcal disease, etc. For instance, according to the data provided by World Health Organization (WHO) in February 2022, cancer is a leading cause of death worldwide, accounting for nearly 10 million deaths in 2020.

Next Generation Sequencing Market Report Coverage

Report Coverage	Details
Base Year:	2021	Market Size in 2022:	US$ 12,870.5 Mn
Historical Data for:	2017 to 2020	Forecast Period:	2022 to 2030
Forecast Period 2022 to 2030 CAGR:	18.3%	2030 Value Projection:	US$ 49,279.9 Mn
Geographies covered:	North America: U.S. and Canada Latin America: Brazil, Argentina, Mexico, and Rest of Latin America Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific Middle East: GCC Countries, Israel, and Rest of Middle East Africa: South Africa, North Africa, and Central Africa
Segments covered:	By Technology: Whole Genome Sequencing, Whole Exome Sequencing, RNA Sequencing, Targeted Re-sequencing, Others By Application: Drug Discovery, Personalized Medicine and Genetic Screening, Disease Diagnosis, Agriculture and Animal Research, Others By End User: Hospital, Research Centers, Pharma and Biotech Firms, Others
Companies covered:	Thermo Fisher Scientific Inc., Agilent Technologies, Inc, bioMérieux SA, F. Hoffmann-La Roche Ltd , QIAGEN, Illumina, Inc., Oxford Nanopore Technologies plc., BGI, PerkinElmer Genomics, and Pierian
Growth Drivers:	Rising demand for early detection of cancer and infectious diseases Increasing advancements in next generation sequencing procedures
Restraints & Challenges:	Storage and management issue of enormous data generated by next generation sequencing and its interpretation

Figure 2.Global Next Generation Sequencing Market Share (%), by Region, 2022

Increasing advancements in next generation sequencing procedures are expected to drive the market growth during the forecast period.

Demand for DNA testing is increasing, due to advancements in next generation sequencing instruments and technologies, faster results and cost effectives of the process as compared to genotyping based DNA microarray. For instance, in January 2022, a new ultra-rapid genome sequencing approach developed by Stanford Medicine scientists and their collaborators was used to diagnose rare genetic diseases in an average of eight hours. Genome sequencing allows scientists to see a patient’s complete DNA makeup, which contains information about everything from eye color to inherited diseases. Genome sequencing is vital for diagnosing patients with diseases rooted in their DNA

Global Next Generation Sequencing– Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization had declared it a public health emergency on January 30, 2020.

COVID-19 can affect the economy in three main ways: by directly affecting production and demand of drugs, vaccines and medical devices, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries, such as China, India, Saudi Arabia, UAE, Egypt, and others, are facing problems with regards to the transportation of products from one place to another

However, the COVID-19 pandemic had a positive impact on the global next generation sequencing market, owing to the increased research and development activities by the key players for utilizing next generation sequencing techniques for the diagnosis of COVID-19 infections. For instance, in June 2020, the U.S. Food and Drug Administration issued an emergency use authorization (EUA) to Illumina, Inc., a global company that develops innovative array-based solutions for DNA, RNA, and protein analysis, for the first COVID-19 diagnostic test utilizing next generation sequence technology. The FDA authorized the Illumina COVIDSeq Test for the qualitative detection of SARS-CoV-2 RNA from respiratory specimens collected from individuals suspected of COVID-19 by their healthcare provider

Global Next Generation Sequencing: Key Developments

In June 6, 2022, PerkinElmer, Inc., a global corporation focused in the business areas of diagnostics, life science research, food, environmental and industrial testing, announced the launch of the research use only (RUO) BioQule NGS System , an automated benchtop solution for next-generation sequencing (NGS) library preparation of up to eight samples. By incorporating automated thermocycling, integrated quality control through optical quantification and robust liquid handling technology into a single device, the BioQule NGS System enables researchers to produce high quality NGS libraries that yield reliable, reproducible results in a variety of applications requiring genomic analysis

In May, 2022, NanoString Technologies, Inc., a leading provider of life science tools for discovery and translational research, announced a seamless, cloud-based workflow that improves the spatial data analysis experience of customers using Illumina NextSeq 1000 and NextSeq 2000 sequencing systems and the GeoMx Digital Spatial Profiler. The spatial analysis of whole transcriptomes combined with proteome analytes can now be simplified using this integrated, push-button run planning tool.

Global Next Generation Sequencing: Restraint

The major factors that hinder growth of the global next generation sequencing market include the storage and management issue of enormous data generated by next generation sequencing and its interpretation. Nevertheless, in spite of tremendous advancements to broaden NGS applications from research to clinic, NGS still presents enormous challenges in terms of data storage, processing, quality control management and interpretation, which slow the translation from the bench-top to the bed-side

Key Players

Major players operating in the global next generation sequencing market include Thermo Fisher Scientific Inc., Agilent Technologies, Inc, bioMérieux SA, F. Hoffmann-La Roche Ltd , QIAGEN, Illumina, Inc., Oxford Nanopore Technologies plc., BGI, PerkinElmer Genomics, and Pierian