Next Generation Sequencing Market

Next Generation Sequencing Market: Distribution by Key Application Areas (Diagnostics, Drug Discovery, Precision Medicine and Others), End Users (Hospitals and Clinics, Academics and Research Institutes, Pharmaceutical Companies and Others), Type of Technology (Sequencing by Synthesis, Ion Semiconductor, Single-molecule Real-time Sequencing, Nanopore and Others), Type of Services (Whole Genome Sequencing, Whole Exome Sequencing and Targeted Sequencing), Key Geographical Regions (North America, Europe, Asia-Pacific, and Rest of the World): Global Forecasts and Industry Trends, 2020-2030

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Next Generation Sequencing Market Overview

The next generation sequencing market is estimated to be worth $3.6 billion in 2020 and is expected to grow at CAGR of 18% during the forecast period.

Advances in DNA sequencing technologies have led to significant developments in a variety of healthcare-focused research fields, such as precision medicine and diagnostics. Particularly, the impact of next generation sequencing (NGS) methods, enabling whole genome and whole exome sequencing, has been the most profound. This high throughput, parallel genome sequencing technology has greatly reduced the overall cost and time investment. In fact, compared to the Human Genome Project (~USD 3 billion), the cost of sequencing a single genome has decreased to USD 1,000, using currently available technologies.

Owing to the ongoing innovation in this field, stakeholders believe that the aforementioned cost may get further reduced to USD 100 over the next decade. This decrease in genome sequencing costs has led to a marked increase in the number of genomes being sequenced around the world. In fact, several large scale efforts, such as UK Biobank and GenomeAsia 100k, have been initiated in order to collect genomic data for use in medical research. Big pharma players, including AstraZeneca, GSK, Pfizer, Merck and Roche, are actively on the lookout for collaborating with such data repositories in order to access the aforementioned information. 

Despite the progress made in this field of research, there are several existing challenges related to the NGS process affiliated workflow and data analysis. The lack of versatile in silico tools is considered to be the major rate-limiting step in NGS data analysis and interpretations. At present, industry stakeholders are actively collaborating in order to integrate their respective resources for mining these large and complex datasets to generate clinically relevant, actionable insights. Additionally, there is a need for better genomic library preparation protocols, which required less starting material, and are capable of generating libraries with more precisely estimated insert sizes and longer reads at reduced error rates. More efficient genome assembly algorithms and better processors (increased computational power) for genomic data processing are also likely to get developed. We are led to believe that, once the aforementioned challenges are addressed, the next generation sequencing market / NGS market will witness significant growth.

The context of next generation sequencing market report, published by Roots Analysis List of genome sequencing service providers from the research report of Roots Analysis List of genome sequencing systems from the research report of Roots Analysis

Key Companies in Next Generation Sequencing Market

Examples of key companies engaged in NGS market (which have also been profiled in this market report; the complete list of companies is available in the full report) include Admera Health, Applied Biological Materials, BGI Genomics, CD Genomics, DNA Link, Eurofins Genomics (Eurofins Scientific), Fulgent Genetics, Gene by Gene, GENEWIZ, MedGenome, Novogene, Omega Biosciences, Psomagen, Veritas Genetics and Xcerlis Labs. This market report includes an easily searchable excel database of all the companies providing NGS sequencing and NGS platforms, worldwide.

Recent Developments in Next Generation Sequencing Market

Several recent developments have taken place in the field of NGS market. We have outlined some of these recent initiatives below. These developments, even if they took place post the release of our market report, substantiate the overall market trends that have been outlined in our analysis.

  • In July 2023, Qiagen announced the expansion of its next-generation sequencing portfolio by launching QIAseq Normalizer kits in order to speed up equalizing DNA concentrations across NGS libraries. 
  • In May 2023, Telesis Bio announced the first commercial shipment of its BioXp® NGS Library Prep kit for plasmid sequencing. 
  • In March 2023, Qiagen entered into technology integration agreement with SOPHiA genetics. The company aims to integrate QIAseq reagent technology with SOPHiA DDMTM digital analytics platform for next-generation sequencing.

Scope of the Next Generation Sequencing Market Report

The ‘Next Generation Sequencing Market, 2020-2030: Service Providers (Whole Genome, Whole Exome and Targeted Sequencing) and Technology Platforms’ market report features an extensive study of the current market landscape, market size, market share, market growth, market trends, market value, market forecast, market outlook, statistics and future opportunities of the NGS market.

Current market landscape of genome sequencing service providers, prepared by Roots Analysis This image provides information about completed, ongoing and planned clinical studies of genome sequencing This image highlights the capability benchmarking of big pharma players engaged in next generation sequencing market

Amongst other elements, the market research report features:

  • An overview of the genome sequencing service providers landscape, featuring information on year of establishment, company size, geographical location and types of services offered (sanger sequencing, genotyping, whole genome sequencing, whole exome sequencing targeted sequencing and bioinformatics). Further, it provides details on the cost of services, sequencing systems used, average turn-around time and sequencing coverage, for certain types of sequencing-related services (whole genome, whole exome and targeted sequencing) offered by contract service providers.
  • An overview of genome sequencing technologies landscape, featuring information on type of applications, run time, maximum reads per run, maximum sequencing output, maximum read length, type of sequencing technique, quality score and cost. It also provides information on the technology providers involved in next generation sequencing market, including information on year of establishment, company size and geographical location. 
  • An informed competitiveness analysis of the genome sequencing technologies captured in our database, taking into consideration relevant parameters, such as supplier power (based on company size of technology provider) and other important technology-related specifications, such as types of applications, maximum sequencing output, maximum reads per run, maximum read length, quality score and cost of sequencer.
  • An in-depth analysis of intellectual property related to this field of research, in order to generate an opinion on how the industry has evolved from the R&D perspective. The analysis takes into consideration genome sequencing-related patents that have been filed / granted since 2015, highlighting publication year, issuing authority / patent offices involved, CPC symbols, emerging focus areas, leading players, patent characteristics and geography.
  • An analysis of completed, ongoing and planned clinical studies related to genome sequencing, featuring details on registration year, type of sponsors / collaborators, current status of trials, type of study design, target therapeutic area, type of application, regional distribution of clinical trials and enrolled patient population.
  • An analysis of the various genome sequencing-focused initiatives of the ten big pharma players (shortlisted based on extent of activity in genome sequencing domain), highlighting the key focus areas of such companies along with information on funding, collaboration and acquisition activity.
  • A case study on the various national and international, government sponsored initiatives related to genome sequencing, analyzed on the basis of year of initiation, type of investors, type of participant organization, research objectives, geographical distribution, region-specific data access policies and key focus areas of research.

The key objective of next generation sequencing market report is to provide a detailed market analysis in order to estimate the existing market size, market share, market growth, market trends, market value, market forecast, market outlook, statistics and future opportunity for next generation sequencing market during the forecast period. Based on several parameters, such as number of genomes sequenced annually, average cost of sequencing, revenues generated by major players and expected annual growth rate, we have provided an informed estimate of the likely evolution of the market, for the forecast period 2020-2030. The chapter also presents a detailed segmentation of the aforementioned opportunity across [A] key application areas (diagnostics, drug discovery, precision medicine and others), [B] end-users (hospitals and clinics, academics and research institutes, pharmaceuticals companies and others), [C] types of technologies (sequencing by synthesis, ion semiconductor, single-molecule real-time sequencing, nanopore and others), [D] types of services (whole genome sequencing, whole exome sequencing and targeted sequencing) and [E] key geographical regions (North America, Asia-Pacific, Europe, and rest of the world).

In order to account for future uncertainties and to add robustness to our model, we have provided three market forecast scenarios, namely conservative, base and optimistic scenarios, representing different tracks of the industry’s growth. 

This image presents government sponsored initiatives across the world for next generation sequencing The current and future market trends of next generation sequencing market according to Roots Analysis The market segments of next generation sequencing domain based on the research report of Roots Analysis

The opinions and insights presented in this market report were influenced by discussions conducted with multiple stakeholders in next generation sequencing market. In addition, the market research report features detailed transcripts of interviews held with the following individuals (in alphabetical order of company names):

  • Michael Powell (Chief Scientific Officer, DiaCarta)
  • Mike Klein (Chief Executive Officer, Genomenon) 

All actual figures have been sourced and analyzed from publicly available information forums. Financial figures mentioned in this market research report are in USD, unless otherwise specified.

Frequently Asked Questions

Question 1: What is next generation sequencing?

Answer: Next generation sequencing refers to parallel sequencing technique which offers high throughput, scalability of operation and quick turnaround times. The technology is utilized to identify the sequence of nucleotides in targeted regions of DNA or RNA.

Question 2: How big is the next generation sequencing market?

Answer: The next generation sequencing market size is estimated to be worth $3.6 billion in 2020.

Question 3: What is the projected market growth of the next generation sequencing market?

Answer: The next generation sequencing market is expected to grow at compounded annual growth rate (CAGR) of 18% during the forecast period 2020 – 2030.

Question 4: Who are the leading companies in the next generation sequencing market?

Answer: Examples of key companies engaged in next generation sequencing market (which have also been profiled in this market report; the complete list of companies is available in the full report) include Admera Health, Applied Biological Materials, BGI Genomics, CD Genomics, DNA Link, Eurofins Genomics (Eurofins Scientific), Fulgent Genetics, Gene by Gene, GENEWIZ, MedGenome, Novogene, Omega Biosciences, Psomagen, Veritas Genetics and Xcerlis Labs.

Question 5: How many companies are currently engaged in the next generation sequencing market?

Answer: Presently, close to 120 companies are engaged in the next generation sequencing market, having the capabilities to offer a variety of services based on next generation technologies.

Question 6: How many clinical trials for evaluating different therapeutics using gene sequencing data have been registered by the companies engaged in next generation sequencing market?

Answer: Over 2,500 clinical trials for evaluating different therapeutics using gene sequencing data have been registered by the players engaged in next generation sequencing market.

Question 7: How many patents related to the next generation sequencing have been filed / granted over the last few years?

Answer: More than 5,000 patents related to the next generation sequencing have been filed / granted over the last few years.

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