Next-generation Sequencing (NGS) Market Size, Share & Trends Analysis Report By Technology (Targeted Sequencing & Resequencing), By Application (Oncology, Consumer Genomics), By Workflow, By Product, By End-use, By Region- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2023-2032

According to Nova one advisor, the global Next-generation Sequencing Market Size was valued at USD 7.45 billion in 2022 and is predicted to be worth USD 28.19 billion by 2032, with a CAGR of 17.2% from 2023 to 2032. 

Key Takeaways:

• By Application, the U.S. Next-generation Sequencing market was valued at USD 3.60. Billion in 2022 and expected to witness growth at a CAGR of 13.80% from 2023 to 2032.
• By application, the oncology segment held the largest revenue share of the market in 2022. The segment growth is prominently attributed to increasing in the prevalence of cancer and advancements in sequencing technologies
• The academic research segment is expected to grow lucratively over the forecast period due to an increase in application-based usage in these institutes and a rise in oncology research. In addition, advancements in R&D for therapeutics, oncology, and genomics research led to the growth of the market
• North America dominated the market in 2022, due to the presence of high R&D investment, and availability of technologically advanced healthcare research framework, the development of WGS in the region is also expected to serve as a critical factor for the growth of the North America NGS market throughout the forecast period
• In Asia Pacific, the market is expected to grow considerably during the forecast period owing to extensive developments in healthcare infrastructure, the positive approach of respective countries for adoption of advanced technologies, and the presence of key players

Next-generation Sequencing (NGS) is a parallel processing technique that can establish the sequence of nucleotides in a whole genome with scalability, ultra-high capacity, and fast speed. Furthermore, in the healthcare industry, NGS is gradually being incorporated into medical laboratory research, screening, and disease diagnoses. In personalized medicine, it has been frequently utilized to accelerate the drug research process.

Different potential sequencing methods such as RNA sequencing, whole-genome sequencing, and whole-exome and targeted sequencing amongst others are prominently used by researchers to get comprehensive sample analysis. When compared to the traditional Sanger sequencing technology, NGS is less expensive and provides higher throughput for DNA sequencing. The growing automation in the pre-sequencing protocols, post-sequencing protocols, and data analysis is also projected to have a positive impact on the NGS market. The utilization of novel platforms for the development of personalized medicine by medical analysis at a genetic level is also a significant factor, which is expected to enhance demand for NGS over the forecast period.

Besides, there are other significant growth trends that are being witnessed in the sequencing industry, such as the development of personalized medicine and companion diagnostics, growing advancements in cloud computing, and data integration. Furthermore, the easy availability of genomic and proteomic data has poised this market to exhibit potentially high-value avenues and opportunities for growth over the forecast period. The market growth is also being fueled by an increase in the global prevalence of cancer and the availability of sophisticated healthcare facilities. As per GLOBOCAN 2020, there have been 1,92,92,789 new cancer cases in 2020, with the number expected to rise to 2,88,87,940 by 2040. Such a substantial rise in the number of cancer cases is estimated to leverage cancer research which will eventually accelerate the NGS market growth.

The NGS diagnostic techniques have the potential to determine a virus's genomic sequence and aid scientists in their understanding of mutations. Furthermore, throughout the COVID-19 epidemic, governments across the globe have been collaborating with the corporate sector to introduce NGS technology to the market as a viable diagnostic tool. The US Food and Drug Administration granted Illumina Inc. a case of emergency use permit for the first COVID-19 diagnostic using the next-generation sequence technique in June 2020. The Illumina COVIDSeq Test for qualitative identification of SARS-CoV-2 RNA has been approved by the FDA. As a result, the usage of next-generation sequencing (NGS) technologies is projected to increase during the pandemic. 

Report Scope of the Next-generation Sequencing Market

Application Insights

The oncology segment dominated the market and accounted for the highest market share of 29.5% in 2022. A gradually growing prevalence of cancer warrants the use of the latest technology to enable oncologists better understand the mechanics of cancer and tumor cells and the application of NGS for DNA and RNA sequencing, epigenetics, and analyzing chromosomal abnormalities account for over three-fourths of the global sequencing data are factors responsible for high market share. Companies like Myriad, through its myRisk product, offer genetic testing to identify people who may be at higher risk of developing certain cancers in the future. In January 2021, Merus N.V.; a clinical-stage immuno-oncology company; collaborated with National Cancer Center, Japan, and Erasmus University Medical Center, Netherlands to evaluate its HER2/3-targeting bispecific antibody in solid tumors.

Furthermore, the continuous introduction of new products by the key players is driving growth in the consumer genomics segment. The presence of companies such as 23andMe that are involved in the provision of the “Personal Genome Service” can be attributed to growth in the coming years. Moreover, Ancestry.com, Color Genomics, Cloud Health (which purchased a HiSeq X Ten), National Geographic, and several Japanese consumer companies, as well as a nascent consumer business, Helix, which was launched by Illumina are expected to impact revenue generation in this segment. Rapid proliferation in genealogy, paternity testing, and personal health awareness is expected to drive the growth in consumer genomics, as an application of NGS.

Technology Insights

The targeted sequencing and resequencing segment held the highest market share of 75.9% in 2022. This segment is expected to witness growth in demand after the growth of whole genome sequencing, as the availability of a large amount of whole genome data will be required to be analyzed at specific gene locations and isolated genetic expressions. There are many companies in the NGS market offering targeted sequencing services. Thus, this segment is expected to grow in tandem with the WGS segment throughout the forecast period.

Illumina offers targeted resequencing with its gene panel and array finder, whereas Pacific Biosciences of California’s Sequel System with its SMRT technique allows targeted sequencing and accurate detection of variants. Targeted sequencing panels are expected to remain the workhorse for cancer molecular diagnostics and are projected to become the routine part of the heme malignancies and solid tumors.

Workflow Insights

The sequencing segment held the highest market share of 55.7% in 2022. NGS sequencing is the most important phase of the workflow and consequently accounts for the largest share of the market. These systems can provide an accurate amount of liquid, which is important in NGS. Moreover, functions such as changing tubes and microtiter plates are also carried out by the system, which helps streamline workflow. The advantage of using a robotic liquid handling system is that it enables researchers to focus on analyzing the data rather than managing the process.

For instance, Illumina's BaseSpace Suite aids in the analysis of sequencing data and the production of findings in a short amount of time. To expand its data analytic capabilities, the company has also purchased DRAGEN Bio-IT Platform (DRAGEN) and Edico Genome. Furthermore, Genomatix and DNAnexus, provide cloud-based solutions for the interpretation and management of enormous volumes of sequencing data.

End-use Insights

The academic research segment held the highest market share of 53.9% in 2022. The application of NGS solutions in research projects that are carried out in the universities and research centers can be attributed to the largest share of this segment in the market. Furthermore, scholarships offered for Ph.D. projects in NGS are anticipated to drive demand for NGS products and services, thereby resulting in lucrative growth over the forecast period. Provision of on-site bioinformatics courses that include workshops on the practical implementation of NGS sequencing and data analysis are also expected to boost revenue generated through the academic research segment in the coming years.

Owing to the use of NGS in cancer research and, more specifically, in the discovery of new cancer-related genes, studying tumor heterogeneity, and identification of alterations that are contributive to tumorigenesis the segment is expected to witness significant growth through to 2028. In addition, the availability of clinical research solutions through market entities such as Illumina, Thermo Fisher Scientific Corporation, and Agilent Technologies for target enrichment and detection is anticipated to provide this segment with high growth opportunities over the forecast period.

Regional Insights

North America dominated the NGS market and accounted for the largest revenue share of 50.2% in 2022. The regional market is driven by the presence of multiple clinical laboratories that employ NGS to provide genetic testing services. Furthermore, due to the presence of high R&D investment, and the availability of a technologically advanced healthcare research framework, the development of WGS in the region is also expected to serve as a critical factor for the growth of the market in North America throughout the forecast period.

In Asia Pacific, the market is estimated to grow fast over the forecast period owing to the presence of significant developments by China and Japan for technological integration of NGS methodologies, and the development of healthcare, R&D, and clinical development frameworks of emerging economies such as India and Australia have poised the Asia Pacific NGS market to witness lucrative opportunities of growth throughout the forecast period.

Some of the prominent players in the Next-generation Sequencing Market include:

• Illumina
• F. Hoffman-La Roche Ltd.
• QIAGEN
• Thermo Fisher Scientific, Inc.
• Bio-Rad Laboratories, Inc.
• Oxford Nanopore Technologies
• PierianDx
• Genomatix GmbH
• DNASTAR, Inc.
• Perkin Elmer, Inc.
• Eurofins GATC Biotech GmbH
• BGI

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 market.

• Technology Outlook (Revenue, USD Million, 2018 - 2030)

• WGS
• Whole Exome Sequencing
• Targeted Sequencing & Resequencing

• DNA-based
• RNA-based
• Product Outlook (Revenue, USD Million, 2018 - 2030)
• Platforms
• Sequencing
• Data Analysis
• Consumables
• Sample preparation
• Target Enrichment
• Others
• Application
• Oncology
• Diagnostics and Screening

• Oncology Screening

• Sporadic Cancer
• Inherited Cancer
• Companion Diagnostics
• Other Diagnostics
• Research Studies
• Clinical Investigation
• Infectious Diseases
• Inherited Diseases
• Idiopathic Diseases
• Non-communicable/Other Diseases
• Reproductive Health
• NIPT
• Aneuploidy
• Microdeletions
• PGT
• Newborn Genetic Screening
• Single Gene Analysis
• HLA Typing/Immune System Monitoring
• Metagenomics, Epidemiology & Drug Development
• Agrigenomics & Forensics
• Consumer Genomics
• Workflow Outlook (Revenue, USD Million, 2018 - 2030)
• Pre-sequencing
• NGS Library Preparation Kits
• Semi-automated Library Preparation
• Automated Library Preparation
• Clonal Amplification
• Sequencing
• NGS Data Analysis
• NGS Primary Data Analysis
• NGS Secondary Data Analysis
• NGS Tertiary Data Analysis
• End-use Outlook (Revenue, USD Million, 2018 - 2030)
• Academic Research
• Clinical Research
• Hospitals & Clinics
• Pharma & Biotech Entities
• Other Users

By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)

Key Benefits for Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the global Next-generation Sequencing industry analysis from 2023 to 2032 to identify the prevailing Next-generation Sequencing industry opportunity.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the global Next-generation Sequencing industry segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global Next-generation Sequencing industry trends, key players, market segments, application areas, and market growth strategies.