Increasing prevalence of cancer and reproductive health disorders and evolution of cutting-edge next-generation sequencing (NGS) platforms are among the key factors expected to drive the global market revenue growth.
Increasing prevalence of cancer and reproductive health disorders and evolution of cutting-edge next-generation sequencing (NGS) platforms are among the key factors expected to drive the global market revenue growth
According to Emergen Research, the global next-generation sequencing market size was USD 10.72 billion in 2020 and is expected to reach USD 26.16 billion in 2028 and register a revenue CAGR of 10.9% during the forecast period, 2021-2028.
Market Dynamics:
Revenue growth of the global next-generation sequencing market is substantially driven by factors such as rising prevalence of cancer, genetic diseases, and reproductive health disorders across the globe, development of cutting-edge next-generation sequencing platforms, increasing applications of NGS technology in cancer and genomic research, and increasing government and private investments in pharmaceutical & biotechnological R&D programs. Next-generation sequencing (NGS) refer to a massively parallel sequencing technology characterized by ultra-high throughput, high speed, and scalability. It helps determine the order of nucleotides in genomes or targeted regions of the RNA or DNA. The process includes four major steps, including library preparation, cluster generation, sequencing, and alignment & data analysis.
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In clinical oncology, NGS is used to develop advanced and personalized treatment of cancer, and the technology helps identify familial cancer mutation carriers, detect new and rare cancer mutations, and develop targeted therapies. Market revenue growth is further supported by factors such as decrease in costs of genome sequencing technologies, growing need for advanced drugs and therapeutics for treatment of cancer and various genetic disorders, and increasing use of the technology in development of effective COVID-19 vaccines and therapeutics. In March 2020, the COVID-19 Genomics U.K. Consortium (COG-U.K.) was formed for detailed analysis of the coronavirus genome using the Whole-Genome Sequencing (WGS) technology. The consortium comprised the NHS, Public Health Agencies, Wellcome Sanger Institute, and several other healthcare institutions.
COVID-19 Impact Analysis:
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Whole Genome Sequencing Segment Accounted for Largest Revenue Share in 2020:
The whole genome sequencing segment dominated other segments in terms of revenue share in the global market in 2020. Increasing applications of the whole genome sequencing (WGS) technology in cancer research and development of advanced therapeutics for infectious diseases, rapid adoption of the technology due to benefits such as rapid results and high data throughput, and growing use in COVID-19 diagnostics are among the key factors driving revenue growth of this segment.
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Oncology Segment to Account for Fastest Revenue CAGR:
The oncology segment is expected to register the fastest revenue growth rate in the global market over the forecast period. Major factors driving revenue growth of this segment are growing geriatric population worldwide, rising prevalence of cancer, increased government funding for R&D activities in the field of oncology, and rising applications of next-generation sequencing and bioinformatics tools in cancer diagnosis and treatment.
North America Accounted for Largest Revenue Share in 2020:
Among regional markets, the North America next-generation sequencing market accounted for the largest revenue share in the global market in 2020. Rising global geriatric population, growing burden of cancer, infectious diseases, and genetic disorders, increasing applications of next-generation sequencing technology in cancer and genomic research and diagnostics, and availability of state-of-the-art clinical research facilities in the region are key factors driving the North America market revenue growth.
Major Companies in the Global Next-Generation Sequencing Market Include:
- Illumina Inc.
- QIAGEN
- Thermo Fisher Scientific, Inc.
- F. Hoffman-La Roche Ltd.
- Oxford Nanopore Technologies
- Genomatix GmbH
- PierianDx
- DNASTAR, Inc.
- Eurofins GATC Biotech GmbH
- Perkin Elmer, Inc.
- BGI
- Bio-Rad Laboratories, Inc.
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For the purpose of this report, Emergen Research has segmented the global next-generation sequencing market on the basis of technology, workflow, application, end-use, and region:
Technology Outlook (Revenue, USD Billion; 2018-2028)
- Whole Genome Sequencing
- Whole Exome Sequencing
- Targeted Sequencing & Resequencing
Workflow Outlook (Revenue, USD Billion; 2018-2028)
- Pre-sequencing
- Sequencing
- NGS Data Analysis
Application Outlook (Revenue, USD Billion; 2018-2028)
- Clinical Investigation
- Oncology
- Reproductive Health
- HLA Typing/Immune System Monitoring
- Metagenomics, Epidemiology & Drug Development
- Agrigenomics & Forensics
- Consumer Genomics
- Others
End-use Outlook (Revenue, USD Billion; 2018-2028)
- Pharmaceutical & Biotechnology Companies
- Hospitals & Clinics
- Clinical Research Laboratories
- Academic Research Centers
- Others
Region Outlook (Revenue, USD Billion; 2018-2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Turkey
- Rest of Middle East & Africa
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