Global
Next Generation Sequencing Services Market is expected to see an impressive
growth during the forecast period, 2024-2028. This growth is accounted for in advancements
in genomic technologies, increasing demand for precision medicine, growing
application of next generation sequencing in clinical research, and increasing
prevalence of genetic disorders.
Advancements
in genomic technologies have led to the development of more advanced and
efficient sequencing platforms, which have reduced the cost and time required
for sequencing. This has made NGS more accessible to researchers and has driven
the growth of the NGS Services Market.
The
demand for precision medicine has increased significantly in recent years, as
researchers and healthcare providers seek to develop personalized treatments
for patients based on their unique genetic makeup. NGS services are essential
for identifying genetic variations that may be relevant to disease diagnosis,
prognosis, and treatment.
NGS
is increasingly being used in clinical research, including clinical trials and
diagnostic testing. This has led to a growing demand for NGS services in the
clinical research industry.
The
increasing prevalence of genetic disorders has driven the growth of the NGS Services
Market. NGS can be used to diagnose genetic disorders and identify potential
treatments, making it an essential tool for genetic testing and diagnosis.
In
the past few years, several new NGS services have been launched in the market.
For example, in 2020, Illumina launched the NovaSeq 6000 system, which is
designed to offer high-throughput sequencing with low per-sample costs. The
system uses innovative flow cells and sequencing reagents to deliver high
accuracy and cost-effectiveness, making it an attractive option for large-scale
sequencing projects.
Thermo
Fisher Scientific launched the Ion GeneStudio S5 system in 2019, which is
designed to enable fast and accurate NGS for a range of applications. The
system offers a compact and scalable design, making it suitable for a range of
settings from small labs to large-scale research facilities. In 2019, Qiagen
launched the QIAseq Targeted RNA Panels, which enable researchers to analyze
specific gene targets for RNA sequencing. The panels are designed to be
compatible with the company’s GeneReader NGS system, allowing for a streamlined
workflow from sample to result.
However,
the market of next generation sequencing will face several challenges including
data management and analysis, standardization and quality control, regulatory
challenges, cost, and data privacy and security. The biggest challenge
associated with NGS services is the sheer volume of data generated by the
sequencing process. Processing and analyzing this data can be time-consuming
and computationally intensive, requiring specialized software and hardware. In
addition, the accuracy of the results can be affected by various factors such
as sequencing errors, sample contamination, and reference genome quality.
Standardization
and quality control are essential to ensure the accuracy and reliability of NGS
results. However, there are currently no universally accepted standards for
NGS, and quality control can be challenging due to the high variability of
samples and sequencing technologies. There is a need for robust quality control
procedures that can be applied across different sequencing platforms and
laboratories.
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Increasing
Adoption of NGS in Developing Countries
The
adoption of Next Generation Sequencing (NGS) technology in developing countries
has been steadily increasing in recent years. This trend is expected to
continue in the coming years, and it will have a significant impact on the
growth of the NGS market. One of the major factors driving the adoption of NGS
in developing countries is the increasing demand for better healthcare
services. NGS technology has the potential to improve the diagnosis and
treatment of various diseases, including genetic disorders, cancer, and
infectious diseases. As developing countries are facing a growing burden of
these diseases, NGS is becoming an essential tool for their healthcare systems.
Moreover,
the declining cost of NGS technology and the availability of affordable
sequencing platforms are making it easier for developing countries to adopt
this technology. Additionally, many governments in developing countries are
investing in the development of their healthcare infrastructure, which includes
the adoption of advanced technologies like NGS. The increasing adoption of NGS
in developing countries is expected to be a major driver for the growth of the
NGS market in the coming years. The growing demand for better healthcare
services, declining costs of NGS technology, and government investments in
healthcare infrastructure are the key factors driving this trend.
Advancements
in Genomic Technologies
Advancements
in genomic technologies are driving the growth of the Next Generation
Sequencing (NGS) Market in the coming years. The evolution of genomic
technologies has made it possible to sequence DNA and RNA at a faster pace,
with greater accuracy and at a lower cost. This has led to the widespread
adoption of NGS technology in various fields, including clinical research, drug
discovery, personalized medicine, and agriculture.
One
of the significant advancements in genomic technologies is the development of
long-read sequencing technology. Long-read sequencing provides complete
sequencing of long DNA and RNA fragments, which is critical for understanding
complex genetic variations such as structural variants, gene fusions, and
alternative splicing. This technology has improved the accuracy and
completeness of genome assemblies, making it possible to identify new genetic
variants and improve understanding of the genetic basis of diseases.
Another
advancement in genomic technologies is the development of single-cell
sequencing technology. This technology allows the analysis of individual cells,
providing insight into cellular heterogeneity and cellular interactions.
Single-cell sequencing is being used in various fields, including cancer
research, neurobiology, and developmental biology. As a result, there is a
growing demand for NGS technology in these areas.
In
addition, the development of cloud-based computing platforms and bioinformatics
tools has made it easier to analyze NGS data, leading to the growth of the NGS
market. These tools allow researchers to analyze large-scale genomic data sets
quickly and efficiently, leading to new discoveries and improved patient
outcomes.
Advancements
in genomic technologies are driving the growth of the NGS Market in the coming
years. Long-read sequencing, single-cell sequencing, and cloud-based computing
platforms are some of the key advancements that are shaping the future of the
NGS market.
Increasing
Prevalence of Genetic Disorders
The
increasing prevalence of genetic disorders is a significant factor driving the
growth of the Next Generation Sequencing (NGS) market in the coming years.
Genetic disorders are caused by abnormalities in an individual's DNA sequence,
and they can result in a wide range of health problems. Some of the common
genetic disorders include cystic fibrosis, sickle cell anemia, and Huntington's
disease.
NGS
technology has revolutionized the field of genetics by allowing for the rapid
and cost-effective sequencing of large portions of the human genome. This
technology has made it possible to identify the genetic mutations and
variations that are responsible for various genetic disorders. As a result, NGS
has become an essential tool for genetic research and clinical diagnostics.
The
increasing prevalence of genetic disorders is driving the demand for NGS
technology in clinical diagnostics. NGS-based genetic testing can provide
accurate and comprehensive diagnosis for patients with genetic disorders,
enabling doctors to provide more personalized and effective treatment plans.
Moreover, NGS-based genetic testing is becoming increasingly affordable and
accessible, making it possible for more patients to benefit from this
technology.
In
addition to clinical diagnostics, NGS technology is being used in genetic
research to identify new genetic mutations and variations associated with
various diseases. This research is critical for developing new treatments and
therapies for genetic disorders. The increasing prevalence of genetic disorders
is expected to be a significant driver for the growth of the NGS Market in the
coming years. NGS technology has revolutionized the field of genetics by
enabling the rapid and cost-effective sequencing of large portions of the human
genome, making it possible to identify the genetic mutations and variations
responsible for various genetic disorders.
Market
Segmentation
Global Next
Generation Sequencing Services Market can be segmented based on service, workflow,
end user, and region. Based on service, the market can be divided into human
genome sequencing services, single cell sequencing services, microbial
genome-based sequencing services, gene regulation services, and others. Based
on workflow, the market is divided into pre-sequencing, sequencing, and data
analysis. Based on end user, the market is divided into hospitals
& clinics, academic & research institutions, pharmaceutical &
biotechnology companies, and others. Regionally, the Next Generation Sequencing
Services Market can be categorized into North America, Europe, Asia Pacific,
South America, and Middle East & Africa.
Market Players
Quest
Diagnostics Incorporated, Applied Biological Materials, Inc., Novogene Co, Ltd.,
Azenta Life Sciences (GENEWIZ), NanoString Technologies, Inc., Illumina, Inc., PacBio,
Inc., Gene by Gene Ltd, Lucigen Corporation are some of the leading players
operating in the Global Next Generation Sequencing Services Market.
Attribute | Details |
Base
Year | 2022 |
Historic
Data | 2018 –
2021 |
Estimated
Year | 2023 |
Forecast
Period | 2024
– 2028 |
Quantitative
Units | Revenue in USD Million, and CAGR for 2018-2022 and 2023-2028 |
Report
coverage | Revenue
forecast, volume forecast, company share, competitive landscape, growth
factors, and trends |
Segments
covered | By Service By Workflow By End User |
Regional
scope | North
America, Europe, Asia Pacific, South America, Middle East & Africa |
Key
companies profiled | Quest Diagnostics Incorporated, Applied Biological Materials,
Inc., Novogene Co, Ltd., Azenta Life Sciences (GENEWIZ), NanoString
Technologies, Inc., Illumina, Inc., PacBio, Inc., Gene by Gene Ltd, Lucigen
Corporation |
Customization
scope | 10%
free report customization with purchase. Addition or alteration to country,
regional & segment scope. |
Pricing
and purchase options | Avail customized purchase options to meet your exact research
needs. Explore purchase options |
Delivery
Format | PDF and Excel through Email (We can also provide the editable
version of the report in PPT/Word format on special request) |
Report Scope:
In this report, Global Next Generation Sequencing Services
Market has been segmented
into following categories, in addition to the industry trends which have also
been detailed below:
- Next Generation Sequencing Services
Market, By Service:
o
Human
Genome Sequencing Services
o
Single
Cell Sequencing Services
o
Microbial
Genome-based Sequencing Services
o
Gene
Regulation Services
o
Others
- Next Generation Sequencing Services
Market, By Workflow:
o
Pre-Sequencing
o
Sequencing
o
Data
Analysis
- Next Generation Sequencing Services
Market, By Workflow:
o
Hospitals
& Clinics
o
Academic
& Research Institutions
o
Pharmaceutical
& Biotechnology Companies
o
Others
Competitive Landscape
Company
Profiles: Detailed
analysis of the major companies present in Global Next Generation Sequencing Services Market.
Available Customizations:
With the given market data, TechSci
Research offers customizations according to a company’s specific needs. The
following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to
five).
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