Next-generation Sequencing Market Size to Reach US$ 21.02 BN by 2029

The global next-generation sequencing market size is expected to reach US$ 21.02 billion by 2029 and expanding growth at a CAGR of 16.1% from 2021 to 2030.

The rising applications of the next-generation sequencing (NGS) in the research for cancer, reduction in the costs of genome sequencing, rising prevalence of cancer among the global population, and the technological advancements in the next-generation sequencing platforms are the most prominent factors that can be held responsible for the burgeoning growth of the global next-generation sequencing market.

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The growing integration of the technological innovations has facilitated the development of easy to use, efficient, and portable next-generation sequencers, which significantly reduces the turnaround time. The burgeoning demand for the accurate, quick, and cost-effective DNA sequencing data interpretation has boosted the growth of the NGS market across the globe. Furthermore, the initiation of the genomics projects and the introduction of next-generation sequencing based diagnostics in the developed and developing nations are collectively fueling the growth of the global NGS market.

Report Highlights:

• On the basis of product, consumables was the leading segment in the global NGS market in 2020. This dominance is attributable to the growing technological advancements in the molecular genetic technologies, spurring demand for the pre-sequencing products, DNA fragmentation kits, target enrichment, and size selection.

• Based on the application, the biomarkers and cancer segment dominated the NGS market in 2020. The increased adoption of the MGS for the treatment, research, and diagnosis of cancer has fueled the growth of this segment. Therefore, the rising prevalence of cancer among the population is expected to drive the market growth.According to the GLOBOCAN report by the International Agency for Research on Cancer (IARC), there were about 10 million deaths and 19.3 million new cases associated with cancer reported in the year 2020. The new cancer cases is expected to rise by 47% from 2020 to 2040.

• Depending on the end user, the academic research segment accounted for a revenue share of more than 53% and dominated the MGS market in 2020. The growing investments in research and the government support towards encouraging the research activities using the NGS technology has propelled the growth of this segment. The presence of huge number of research organizations that are involved in the research activities pertaining to the NGS technologies have contributed to the growth of the segment.

• Based on technology, the semiconductor sequencing is anticipated to be the most opportunistic segment during the forecast period. The cost-effectiveness of the ion semiconductor sequencing as compared to that of the other DNA sequencing methods is a major factor behind the growing demand for the semiconductor sequencing.

• North America dominated the NGS market in 2020. The favorable government policies and support, presence of several top market players in the region, and the higher prevalence of cancer in the developed market like US has significantly augmented the growth of the North America next-generation sequencing market growth. The huge investments in research activities and the presence of numerous research organization, pharmaceutical companies, and life science companies has exponential contributions in the growth of the North America NGS market.

• Europe is anticipated to exhibit the highest growth rate during the forecast period, owing to the rising government support and increasing investments in the research and development pertaining to the next-generation sequencing technologies.

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Future of Next-Generation Sequencing Market

The future of the next-generation sequencing market is expected to be dependent on the government and corporate support for the sequencing on large scale. There are several nations that are spending on the sequencing of their own population to determine the links between disease and genetics. This will allow in the treatment of various rare diseases, cancer, and other chronic illnesses.

COVID-19 Impact Analysis:

• The COVID-19 pandemic had a positive impact on the global next-generation sequencing market in 2020. The increased investments towards the research and development of the vaccines, medicines, and diagnosis for the COVID-19 disease had helped the market growth.
• The development of the COVID-19 NGS test by several companies has fueled the growth of the market during the pandemic.

Key Developments in the Marketplace:

• In May 2020, Roche introduced its KAPA Target Enrichment portfolio.
• In January 2021, Cerba Research introduced its NGS and PCR based exploratory tools to facilitate the development of COVID-19 vaccines.
• In January 2022, Pathogenomix acquired the US FDA approval and Breakthrough Device designation for its Patho-Seqassay.

Some of the prominent players in the global next-generation sequencing market include:

• BGI Group
• F. Hoffmann-La Roche AG
• Pacific Biosciences of California Inc.
• Thermo Fisher Scientific Inc.
• Agilent Technologies Inc.
• Precigen Inc.
• Illumina Inc.
• Qiagen N.V.
• PerkinElmer Inc.
• PierianDx Inc.

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