Next-Generation Sequencing Market Scope
Next-generation sequencing (NGS), alternatively known as high-throughput sequencing, allows sequencing of millions of DNA molecules simultaneously. This method is useful in the field of personalized medicine, genetic diseases and clinical diagnostics as it offers high throughput option with ability to perform sequencing for multiple individual at the same time. The NGS machine or NGS sequencer is flexible enough to operate tasks such as whole –genome sequencing (WGS), targeted sequencing and transcriptome analysis. The Global Next-Generation Sequencing market is expected to grow at a CAGR of 18.64% from (2019-2024) and market size is projected to reach at USD 15.87 Billion by 2024.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia-Pacific |
Largest Market | North America |
Unit | Value (USD Billion) |
Key Companies Profiled | 10x Genomics (United States), Agilent Technologies, Inc. (United States), Beckman Coulter (A Subsidiary of Danaher), Becton, Dickinson and Company (United States), BGI (China), Eurofins Scientific (Luxembourg), F. Hoffmann-La Roche AG (Switzerland), Genewiz (United States), Illumina, Inc. (United States), Macrogen, Inc. (South Korea) and Oxford Nanopore Technologies, Ltd. (United States) |
CAGR | % |
Research Analyst at AMA estimates that United Kingdom Players will contribute to the maximum growth of Europe Next-Generation Sequencing market throughout the predicted period.
10x Genomics (United States), Agilent Technologies, Inc. (United States), Beckman Coulter (A Subsidiary of Danaher), Becton, Dickinson and Company (United States), BGI (China), Eurofins Scientific (Luxembourg), F. Hoffmann-La Roche AG (Switzerland), Genewiz (United States), Illumina, Inc. (United States), Macrogen, Inc. (South Korea) and Oxford Nanopore Technologies, Ltd. (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Pacific Biosciences of California, Inc., Perkinelmer, Inc., Thermo Fisher Scientific Inc. and Qiagen N.V..
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Europe Next-Generation Sequencing market by Type , by Application (Diagnostics, Cancer Diagnostics, Infectious Disease Diagnostics, Reproductive Health Diagnostics, Other Diagnostic Applications, Drug Discovery, Agricultural and Animal Research and Other Applications) and Region with country level break-up.
On the basis of geography, the market of Next-Generation Sequencing has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In January 2023, QIAGEN announced it has completed the acquisition of Verogen, a leader in the use of next-generation sequencing (NGS) technologies to drive the future of human identification (HID) and forensic investigation.
In March 2018, ARUP and metagenomics company IDbyDNA, Inc. launched Explify Respiratory which is an NGS test for respiratory infections that helps physicians while diagnosing patients with pneumonia and other respiratory diseases. Using nucleic acid the test identifies over 200 common and rare bacteria and viruses.
In April 2018, Food and Drug Administration (FDA) finalized a guidance document, Considerations for Design, Development, and Analytical Validation of Next Generation Sequencing (NGS)-Based In Vitro Diagnostics (IVDs) Intended to Aid in the Diagnosis of Suspected Germline Diseases, in efforts to accelerate the establishment of a regulatory approach for next generation sequencing (NGS) testing. FDA has provided a step toward integrating NGS into clinical practice, the document has rekindled the debate about t
Influencing Trend:
Development in Portable Sequencing Technology and Adoption and Integration of Advanced LIMS (Laboratory Information Management System) Real-Time Tracking Method
Market Growth Drivers:
Technical Advancement in NGS platform and Ability to Provide Cost Effective Solution
Challenges:
Issue Related to Ethics and Problem Associated With Interpretation of Complex Data
Restraints:
Lack of Budget in Emerging Economies and Lack of Awareness About NGS Technology
Opportunities:
Favorable Government Initiatives and Incorporation of Big Data
Key Target Audience
NGS equipment manufacturers, vendors, and distributors, NGS sequencing service companies, NGS bioinformatics/data analysis companies, Research laboratories and academic institutes, Venture capitalists and other government funding organizations, Research and consulting firms, Healthcare institutions (hospitals and diagnostic clinics), Pharmaceutical and biotechnology companies, Contract manufacturing organizations (CMOs) and Contract research organizations (CROs)