According to Nova one advisor, the Next-Generation Sequencing Services market size was accounted at USD 2.09 billion in 2022 and is predicted to be worth around USD 6.55 billion by 2032 with a notable CAGR of 19.3% from 2023 to 2032.
According to Nova one advisor, the Next-Generation Sequencing Services market size was accounted at USD 2.09 billion in 2022 and is predicted to be worth around USD 6.55 billion by 2032 with a notable CAGR of 19.3% from 2023 to 2032.
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Key Takeaways:
- By service type, human genome sequencing held the largest revenue share in 2022 owing to greater penetration of whole genome and whole exome sequencing
- Gene regulation services, particularly small RNA sequencing and ChIP-seq, are anticipated to grow at a lucrative pace during the forecast period. Rising investment in RNA sequencing is fueling the growth of gene regulation services
- The larger revenue share of sequencing services as compared to other workflow steps can be attributed to an increase in the installation of sequencing platforms. High maintenance and recovery costs of this step have also resulted in greater revenue generation
- By end-use, the universities and other research entities segment held the largest revenue share in 2022 owing to the growing application of NGS technology for cancer prognosis as well as diagnosis and major projects taken up by academicians and universities
- North America dominated the market in 2022 owing to higher penetration of the technology in this region and the availability of funds to employ the technique and derive research findings for disease targeting
- Companies such as GENEWIZ and Novogene Corporation are engaged in offering NGS services based on platforms from major NGS developers. Companies such as Illumina and BGI, on the other hand, are involved in developing sequencing instruments and offering services to research entities
- In November 2022, Novogene stated during the 44th Annual Gathering of Molecular Biological Society of Japan (MSBJ) in Japan that they will be launching single-cell sequencing services specifically for their Japanese customers
- GENEWIZ scientists are assisting in identifying the NGS solution for the projects. The NeXT Dx Test was launched by Personalis, Inc. to assist oncologists in identifying new therapy and clinical trial choices for cancer patients
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The development of next-generation sequencing (NGS) technologies has revolutionized gene sequencing in terms of reproducibility and cost savings. This has resulted in the introduction of several advancements in NGS technology to promote its usage in clinical labs and hospitals. Most current innovations in this field revolve around simplifying the usage of seq-technology and making it more sophisticated. These factors have driven the uptake of NGS services across various end-users.
Next-generation sequencing has progressed from research to clinical use in the last five years. Around 14 nations have launched large-scale genome sequencing programs, with nearly 60 million people expected to have their genome analyzed by 2025. Conventional disease testing service providers have broadened their portfolio with a rising trend of seq-based genetic tests. For instance, ARUP Laboratories announced the release of new coronavirus tests in March 2022, and IDbyDNA, Inc. partnered with another firm to introduce new coronavirus tests, an NGS test for respiratory illnesses, to aid physicians in evaluating patients with pneumonia and some other respiratory problems.
With the rising trend of high throughput sequencing within the pharma and biotech industry, there is a need for more developments to improve the speed and convenience of high throughput seq-platforms and simplify workflows. As a result, companies are focusing on the development of solutions to simplify the amplification and purification of samples and starting input. In March 2022, Illumina, Inc. announced the release of TruSigh Oncology (TSO) Comprehensive (EU), a comprehensive diagnostic that evaluates several tumor genes and indicators to identify a patient's cancer's individual molecular profile. The in vitro diagnostic (IVD) kit would assist in influencing genomic decisions for patients with cancer across Europe, with its global debut taking place first in Europe.
Regional Insights
North America accounted for the largest revenue share of over 46.0% in 2022 owing to factors such as a well-established informatics network, effective regulatory guidelines pertaining to approval and usage of genetic tests, and the presence of market leaders in the region. In addition, the growing number of FDA-approved genomic tests in the U.S. is anticipated to drive the regional market throughout the forecast period.
The Asia Pacific market is expected to serve as a lucrative source of revenue over the forecast period. The growing attention of government bodies toward the maintenance of public health and consequent investments in the development of advanced diagnostic approaches are anticipated to spur the uptake of seq-services in the region.
Furthermore, domestic players in Asian countries are involved in forming mutually beneficial partnerships among each other as well as with global companies for the establishment of NGS service providers. For instance, in November 2022, Novogene stated during the 44th Annual Gathering of Molecular Biological Society of Japan (MSBJ) in Japan that they will be launching single-cell sequencing services specifically for their Japanese customers. Novogene Japan K.K. will provide on-site service to assist clients in optimizing their single-cell planning with this new service. It gives researchers the freedom to enjoy a dependable and seamless end-to-end sequencing solution for their single-cell research, starting with research design projects, cell barcoding, library creation, sequencing, and bioinformatic analysis.
Some of the prominent players in the Next-Generation Sequencing Services Market include:
- Illumina, Inc.
- Veritas Genetics
- BGI
- GENEWIZ Germany GmbH
- ABM Inc.
- ARUP Laboratories
- Novogene Corporation
- Lucigen
- Quest Diagnostics
- Gene by Gene
Segments Covered in the Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2032. For this study, Nova one advisor, Inc. has segmented the global Next-Generation Sequencing Services market.
- Service Type
- Human Genome Sequencing
- Single Cell Sequencing
- Microbial Genome-based Sequencing
- Gene Regulation Services
- Small RNA Sequencing
- ChIP Sequencing
- Other Gene Regulation-based Services
- Animal & Plant Sequencing
- Other Sequencing Services
- Workflow
- Pre-sequencing
- Sequencing
- Data Analysis
- End-use
- Universities & Other Research Entities
- Hospitals & Clinics
- Pharma & Biotech Entities
- Others
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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