Market Research Report

A quick peek into the report

Market Overview

Global Next-Generation Sequencing Market

Base Year

2018

Market Size in 2020

$4.93 billion

Forecast Period

2019 -2024

Value Projection and Estimation by 2024

$9.91 billion

CAGR During Forecast Period

13.22%

Number of Tables

 

Number of Pages

172

Number of Figures

 

Market Segmentation

·         Application: Pharmaceuticals, Diagnostics, Agricultural and Animal Research, Forensics, Others

        Technology:    Reversible Terminator Sequencing, Ion Torrent Semiconductor Sequencing, Single Molecule Real Time Sequencing    (SMRT), Nanopore Sequencing Technology, Others.

Regional Segmentation

•    North America - U.S., Canada.

•    Europe – Germany, U.K., France, Italy, Spain, Netherlands, Rest of Europe

•    Asia-Pacific – Japan, China, India, South Korea, Australia, Rest-of-Asia-Pacific

•    Rest-of-the-World

Market Growth Drivers

•    Growing Demand for Non-Invasive Diagnosis

•    Technological Advancements in the Field of Computational Biology

•    Growing Prominence of Precision Medicine

Market Challenges

•    Lack of Standardized Regulatory Framework Specific to Biometric Data Protection

•    Cost Concerns for End Users to Launch Biometric Solutions as Direct Paid Service

Market Opportunities

•    Development of Portable Technologies

•    Hybridization of Technologies

•    Technological Developments in the Field of Bioinformatics and Automation Software

Key Companies Profiled

Agilent Technologies, Inc.; BGI; Danaher Corporation;  F. Hoffmann-La Roche AG; New England Biolabs, Inc;  Oxford Nanopore Technologies Limited; Thermo Fisher Scientific; QIAGEN N.V.

Report Description

The global Next Generation Sequencing (NGS) industry is a multibillion-dollar marketplace that consists of many different companies, all involved in making instruments, kits, and consumables and developing software to bolster the NGS workflow. Next-generation sequencing allows scientists to sequence an entire genome, exome, or transcriptome within reach of all labs around the globe. With NGS technology, it has become possible to conduct experiments that were previously impossible to conduct. There were limitations with traditional sequencing platforms. Using them, scientists could sequence read lengths that were shorter than 1 kb, thus requiring a scale up to millions of fragments sequenced in parallel.

Over the years, advancements in sequencing chemistry, molecular biology, and technical engineering have allowed for a significant increase in efficiency as well as decreased cost. Improvements such as these have paved the way for the development of massively parallel, high-throughput sequencing technology, known as Next generation Sequencing (NGS).

The purpose of this next-generation sequencing report is to gain a holistic view of the next generation sequencing market growth in terms of various influencing factors, such as trends, technological advancements, the role of service providers, and funding scenarios in the market. The scope of this report constitutes an in-depth study of the next-generation sequencing industry across different regions worldwide.

The market has been split into ‘technology’, ‘product’, ‘application’, and ‘geographical regions’. The report presents the reader with an opportunity to get an in-depth insight into the market and helps form well-informed strategic decisions. The research uncovers some of the crucial parameters that must be considered before entering the market or parts of it.

This research report aims to answer various aspects of the global NGS market with the help of key factors driving the market, restraints, and challenges that can inhibit overall NGS market growth. It also provides insights into the current growth opportunities that are likely to shape the future trajectory of the market expansion.

The NGS report includes an exhaustive examination of the key players, developments, and the market as a whole. In addition, the report includes market dynamics (market drivers, opportunities, and challenges) and industry analysis.

The report evaluates the market share analysis of a comprehensive understanding of the global NGS market and comprehensively assesses the factors governing the same. Funding scenarios, Porter’s Five Force analysis, value chain analysis, opportunity matrix, detailed product mapping, growth share analysis, supply chain of NGS kits and consumables, and pricing analysis have been included in this report.

In the past few years, genome sequencing has been revolutionized by automated sanger sequencing. Sanger sequencing had limitations that led to the development of improved sequencing technologies capable of sequencing a large number of human genomes and are also capable of addressing the problems that were initially hindering the growth of the next-generation sequencing industry.

In addition, several research centers initiated the creation of new sequencing technologies, which allowed for the simultaneous sequencing of large numbers of samples. The three parallel technologies that were introduced in the early 21st century are Polonator, the Heliscope Single Molecule Sequencer Technology, and the Ion Torrent Semiconductor Sequencing.  While several techniques have been developed over the past years to make sequencing more effective, it wasn't until recently that one could see a substantial leap forward in this area.

Two technologies that can drastically reduce the current cost of sequencing a human genome are Pacific Bio's single-molecule real-time (SMRT) DNA sequencing and nanopore DNA sequencing. The advent of the technologies mentioned above has unleashed some new methods that can make the $100 genome dream a reality in the near future.  These high-throughput sequencing methods have introduced new fields in the industry, including analysis of RNA transcript, personal genomics, ChiP-Seq (Chromatin Immunoprecipitation sequencing), and ChiP-chip (Chromatin Immunoprecipitation coupled to DNA microarray), among others.

NGS requires infrastructure including storage, computer capacity, and human expertise to analyze and interpret data in the clinical setting. In addition, the lab technicians must have the expertise required to skillfully manage the data and extract clinically essential functions keeping quality standards high.

The purpose of this study is to gain a holistic view of the next-generation sequencing market size in terms of various influencing factors, such as recent trends, technological advancements, and regulatory aspects of the market. This study will present an overview of next-generation sequencing technologies used in the current industry, with predictions for future applications.

The global NGS market is segmented into four sections: product, technology, application, and geography. The global market value was estimated using these four different approaches and was validated with one another. These segments are further segmented into several sub-segments to ease the market estimation and to gain an in-depth view of the market.

The global next-generation sequencing market was $4.93 billion in 2018 and is estimated to grow over $9.91 billion by 2024. The global next-generation sequencing market share is expected to grow with a double-digit compound annual growth rate between the years 2019 and 2024.

With the growing demand for genome mapping programs and diagnostics tests based on sequencing, the sequencing market is expected to grow dramatically within the next few years. Clearly, this is an area where there will be further growth potential for investors who want to get in early on, something that only has room to improve over time. In terms of products, the kits and consumables sub-segment dominated the global next-generation sequencing market in 2018. However, the software sub-segment is expected to witness the highest CAGR in the forecast period from 2019 to 2024.

The global NGS market is dominated by reversible terminator sequencing currently. However, Nanopore sequencing technology market is estimated to witness the highest CAGR in the forecast period.

By application, presently, the pharmaceuticals field holds the largest share of the global next-generation sequencing market. It is expected to grow at 13.22% CAGR in the forecast period from 2019 to 2024.  The demand for non-invasive diagnostic procedures is increasing. Therefore the diagnostic field is expected to witness an impressive CAGR in the forecast period from 2019 to 2024.

Geographical regions segment the global NGS market into North America, Europe, Latin America, Asia-Pacific, and Rest-of-the-World (RoW). North America is the leading contributor to the global next-generation sequencing market and contributed to 48% of the global market values in 2018. However, Asia-Pacific is expected to grow at a CAGR of 17.25% in the forecast period 2019-2024. Moreover, the Asia Pacific market contributed approximately 18.95% of the total global market value in 2018.

With the introduction of portable technologies, a paradigm shift in the dynamic market is expected in 2023. The leading players in the market are taking the necessary steps to tackle the shift in the dynamics and sustain the competition. U.S. players majorly dominate the global next-generation sequencing market. Companies belonging to the U.S., such as Illumina, Inc., and Thermo Fisher Scientific, contributed to more than 70% of the market value in 2018. The key players which have significant contributions to the NGS market are 10x Genomics, Agilent Technologies, Inc., bioMérieux SA, Bio-Rad Laboratories, Inc., Danaher Corporation, F. Hoffmann-La Roche AG, GenapSys, Inc., Illumina, Inc., New England Biolabs, Inc., NuGEN Technologies Inc., Oxford Nanopore Technologies Limited, Pacific Biosciences of California, Inc., PerkinElmer, Inc., QIAGEN, and Thermo Fisher Scientific, among others.

The healthcare industry is becoming widely aware that genome sequencing-based technology and the use of service-providing companies will manifest into a lucrative business across the globe. The next-generation sequencing services market has grown with the growing popularity and acceptance of noninvasive prenatal testing, companion diagnostics, and liquid biopsy procedures using genome sequencing.

Additionally, there have been increasing investments in bioinformatics startups and service-providing companies. The growing demand for genome mapping programs along with the expanding availability of genomic data, is having a massive impact on the growth of the bioinformatics industry. Service-providing companies help expand the global reach of the key players of the market and play a significant role in increasing the adoption of sequencing technologies across the globe.

Among the many opportunities that are currently the subject of considerable work in the market right now are something called ‘hybrid technologies’ and the development of portable technologies. The best sequencer is the one with the ability to sequence long reeds, in short run time, and with great accuracy. The presently available sequencers on the market possess any one of the mentioned features, but not all three.

Despite the substantial amount of investment that companies have made into developing instruments that would possess these features mentioned above, it is not expected to become a reality soon. Therefore, it is believed that hybridization of available technologies, such as Single Molecule Real-Time sequencing technology and Reversible Semiconductor Sequencing Technology, will successfully provide solutions for this growing need.

 

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Global Next-Generation Sequencing Market

Focus on Products and Services, Applications, Technology, 18 Countries Data, Industry Insights, and Competitive Landscape – Analysis and Forecast, 2019-2024

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