Next Generation Sequencing Market Size Anticipated to Reach USD 46.5 billion by 2035

Driven by the growing adoption of NGS techniques, the next generation sequencing market growth is expected at CAGR of 18.4% | Roots Analysis

According to a recently published report by Roots Analysis, the rising prevalence of rare and genetic disorders along with the growing adoption of next generation sequencing technologies for diagnosis, prevention and treatment of such disorders is driving the market growth of next generation sequencing market

Next Generation Sequencing Industry Overview

The next generation sequencing market growth is expected to reach over USD 46.5 billion by 2035, growing at a CAGR of 18.4% during the forecast period, till 2035.

Next-generation sequencing (NGS) is a novel sequencing technique used for whole genome sequencing to understand genetic variations associated with a wide range of diseases including rare diseases, cancers and genetic disorders. NGS technologies have shown their potential in sequencing an entire genome simultaneously in order to expedite the research efforts for diseases diagnosis at molecular level. In addition to disease diagnosis, next-generation sequencing technologies helps to identify biomarkers, design cell therapies and develop targeted therapies.

Owing to these positive outcomes, governments and researchers are proactively engaged in utilization of next generation sequencing technologies for safe and effective treatment of a wide array of disorders. This has further resulted in increased research and development efforts by companies involved in the respective domain in order to advance and innovate their NGS technologies / platforms. Driven by the growing adoption of NGS techniques, the next generation sequencing market value is poised to experience a noteworthy increase during the forecast period.

Browse 155+ figures and 185+ market data tables spread across 360+ pages and detailed Table of Content on “Next Generation Sequencing Market, till 2035 by Type of Component, Type of NGS Technique, Type of Technology Used, Application Area, Target Therapeutic Area, Purpose, End Users and Geographical Regions” here: https://www.rootsanalysis.com/reports/next-generation-sequencing/290.html

Market Drivers

Several factors are propelling the growth of the next generation sequencing market. One of the key factors driving the future of next generation sequencing market is the rise in individuals suffering from various cancers, rare and genetic diseases. According to the American Cancer Society, in the last year, over two million new cases of cancer were reported in the US, alone. The current scenario highlights the necessity in adopting innovative next generation sequencing platforms for accurate prevention, diagnosis and treatment of such disorders.

Moreover, technological advancements including high-throughput sequencing have made genome sequencing more rapid and simple, as well as ensuring accurate analysis with shorter processing time. Such ongoing innovations in the NGS technologies / platforms have become one of the key drivers for the next generation sequencing market.

Market Restraints

While the next generation sequencing market has significantly grown, it also experiences certain restraints which are impeding its growth with time. A major restraint in the adoption of next generation sequencing is the high cost of installation and maintenance of NGS platforms. Further, lack of personnel training and computational resources coupled with insufficient competent workforce has been a primary setback for applying NGS techniques. Additionally, the concerns associated with secure data storage and accessibility limit the applicability of NGS-based genome sequencing especially in underdeveloped regions, thereby impeding the global progression of the next generation sequencing market.

Growth Factors

Despite the challenges, several factors continue to drive the next generation sequencing market growth forward. One notable factor is the rising research and development activities undertaken by stakeholders in this domain. Next generation technologies play a pivotal role in precision medicine as they enable quick, high-capacity, and economical examination of genomic examination.

Players are exploring ways through which these technologies can be integrated in developing precision medicines, thus facilitating personalized diagnosis. In addition, players engaged in this domain are incorporating artificial intelligence in NGS platforms in order to streamline the collection, storage and analysis of genomic data. Further, a significant increase in the funding and investments received by stakeholders in the next generation sequencing domain have also contributed to substantial opportunities in the field of genomics and bioinformatics. Owing to the aforementioned factors, it can be anticipated that the next generation sequencing market will flourish remarkably in the foreseen future.

Next Generation Sequencing Market Segments

Based on the type of component, the market is segmented into Consumables, Services and Instruments.

• Consumables led the next generation sequencing market, capturing the largest revenue share of more than 65% in the current year.
• The consumables segment is anticipated to show the highest growth rate of over 18.5%, during the forecast period.

Based on the type of NGS technique, the market is segmented into Targeted Sequencing, Whole Genome Sequencing / Whole Exome Sequencing, RNA Sequencing and Other Techniques.

• The target sequencing technique led the next generation sequencing market, capturing the largest revenue share of close to 45% in the current year.
• The whole genome sequencing / whole exome sequencing techniques are anticipated to show the highest growth rate of 19.5%I during the forecast period.

Based on the type of technology used, the market is segmented into Sequencing by Synthesis Technology, Ion Semiconductor Technology, Nanopore Sequencing Technology and Other Technologies.

• The sequencing by synthesis technology segment led the next generation sequencing market, capturing the largest revenue share of over 80% in the current year.
• The nanopore sequencing technology is anticipated to show the highest growth rate of 20.5% during the forecast period.

Based on the application area, the market is segmented into Clinical Applications and Research and Applied Applications.

• The clinical applications led the next generation sequencing market, capturing the largest revenue share of close to 60% in the current year.
• The clinical applications segment is anticipated to show the highest growth rate of more than 20% during the forecast period.

Based on the target therapeutic area, the market is segmented into Oncological Disorders, Genetic Disorders, Reproductive Disorders and Other Therapeutic Areas.

• The NGS technologies used for oncological disorders led the next generation sequencing market, capturing the largest revenue share of 50% in the current year.
• The other therapeutic areas market segment is expected to show the highest growth rate of more than 25% during the forecast period.

Based on the purpose, the market is segmented into Diagnosis, Risk Assessment, Presymptomatic Assessment, Screening and Other Purposes.

• The NGS technologies used for diagnostic purposes led the next generation sequencing market, capturing the largest revenue share of around 60% in the current year.
• The NGS technologies intended for other purposes is anticipated to show the highest growth rate of over 20% during the forecast period.

Based on the end users, the market is segmented Academic and Research Institutes, Hospitals and Clinics, Pharmaceutical and Biotechnology Companies, and Other End Users.

• The academic and research institutes led the next generation sequencing market, capturing the largest revenue share of more than 45% in the current year.
• The hospitals and clinics segment is anticipated to be the fastest growing segment in this industry, with an annualized rate of over 20% during the forecast period.

Based on Regional Insights, the market is segmented into North America, Europe, Asia-Pacific, Middle East and North Africa, and Latin America.

• North America dominated the next generation sequencing market and accounted for the largest revenue share of over 50% in the current year.
• In Asia-Pacific, the next generation sequencing market is anticipated to be the fastest growing segment in this industry, with an annualized rate of more than 20%, during the forecast period.

Key Companies Profiled

The next generation sequencing market report also includes detailed profiles of key players (listed below) that offer next generation sequencing services:

• Admera Health
• Applied Biological Materials
• BGI Genomics
• CD Genomics
• DNA Link
• Eurofins Genomics
• Gene by Gene
• GENEWIZ
• MedGenome
• Novogene
• Psomagen
• Veritas
• Xcelris Labs

The next generation sequencing market report also includes detailed profiles of key players (listed below) that develop next generation sequencing technologies:

• Illumina
• MGI Tech
• Oxford Nanopore Technologies
• Pacific Biosciences
• Thermo Fisher Scientific

You Can Download Free Sample PDF Copy of This Report At:

https://www.rootsanalysis.com/reports/next-generation-sequencing/request-sample.html

About Roots Analysis

Roots Analysis is a global leader in the pharma / biotech market research. Having worked with over 750 clients worldwide, including Fortune 500 companies, start-ups, academia, venture capitalists and strategic investors for more than a decade, we offer a highly analytical / data-driven perspective to a network of over 450,000 senior industry stakeholders looking for credible market insights. All reports provided by us are structured in a way that enables the reader to develop a thorough perspective on the given subject. Apart from writing reports on identified areas, we provide bespoke research / consulting services dedicated to serve our clients in the best possible way.

Contact Details

Gaurav Chaudhary

Email: Gaurav.chaudhary@rootsanalysis.com or sales@rootsanalysis.com