Next-Generation Sequencing (NGS) Services Market Size, Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Japan, China, India, Brazil, Mexico, South Africa, Saudi Arabia), Application Potential, Price Trends, Competitive Market Share & Forecast, 2018 – 2024
Report ID: GMI3036
Next-Generation Sequencing (NGS) Services Market size is projected to experience significant growth from 2018 to 2024.
Next-generation sequencing (NGS) services market will witness considerable increase in demand owing to rising prevalence of chronic and infectious diseases. As per data by World Health Organization, about 17 million people die of infections globally. NGS is being increasingly utilized for infection prevention through its advanced diagnostic approach. NGS provides high discriminatory value and thus can be used to provide real-time data and identification of infective causes. This will help for infection prevention among immunosuppressed individuals, thus impelling next-generation sequencing services market growth.
High investment of setting up NGS infrastructure will upsurge the preference for NGS services in the projected timeframe. The infrastructure cost of genome sequencing is huge that may hinder company growth. Thus, large number of end-users are opting for NGS services that offers favorable cost advantage. In addition, NGS services cuts the cost of skilled professionals needed for sample analysis. Above factors should increase next-generation sequencing services market size.
Falling price of sequencing will positively impact NGS services market in foreseeable years. Declining price of sequencing and increasing sequence database is leading to reduction of price to acquire crucial sequencing data for analysis. Thus, high-end technology for diagnosis and sequencing of complex diseases at substantially lower cost will offer attractive NGS services market growth opportunity in the foreseeable future.
However, installation of in-house NGS sequencing facilities by some end-users may restrain NGS services in forthcoming years.
Targeted sequencing/gene panels segment will record significant share during the forecast period. Targeted gene sequencing produces a smaller and manageable data set in comparison with whole-genome sequencing. Also, targeted sequencing is helpful tool for analysis of mutations. Aforementioned advantages should offer lucrative segmental growth potential over coming years.
Sequencing by Synthesis (SBS) segment will account for large revenue share throughout the projected period. SBS offers high-resolution genome sequencing along with long-insert paired-end reads for effectual sequencing that helps to completely characterize genome. For instance, Illumina sequencing by synthesis (SBS) is widely used SBS NGS technology that offers error-free reads. Such factors will offer lucrative segmental growth in coming years.
Diagnostics application segment will grow at robust CAGR over the forecast period owing to escalating number of cancer as well as other chronic diseases. Advances in NGS is being utilized for diagnosis of several forms of cancer including breast cancer, Hodgkin’s lymphoma and chronic myeloid leukemia. Moreover, NGS also efficiently diagnoses cardiovascular and infectious diseases, that should highly impact segmental growth.
Hospitals and clinics segment will hold considerable market size owing to large patient burden undergoing from cancer diagnosis and treatment. NGS is also being widely used for detection of fetal abnormalities in hospitals. Moreover, utilization of NGS services to reduce cost of NGS infrastructure will stimulate segmental growth over the upcoming period.
U.S. next-generation sequencing (NGS) services market will foresee remarkable expansion during projected timeframe. Implementation of high-end technology products and huge investment in R&D will augment U.S. next-generation sequencing (NGS) services market growth. Numerous firms in the country are undertaking novel product and drug development that will require NGS. Thus, expanding facilities coupled with growing R&D will impel U.S. next-generation sequencing (NGS) services industry growth.
Few of the market players of global next-generation sequencing (NGS) services market are Illumina, Inc., Qiagen N.V., Perkin Elmer, Inc. and BGI. Companies are focusing on expanding its customer portfolio through acquisition of novel NGS technology as well as collaborations.
Next-generation sequencing (NGS) services market by type, 2013-2024 (USD Million)
- Targeted Sequencing/Gene Panels
- De Novo Sequencing
- Exome Sequencing
- Whole-genome Sequencing
Next-Generation Sequencing (NGS) Services Market by technology, 2013-2024 (USD Million)
- Sequencing by Synthesis (SBS)
- Ion Semiconductor Sequencing
- Single-Molecule Real-time (SMRT) Sequencing
- Nanopore Sequencing
Next-Generation Sequencing (NGS) Services Market by application, 2013-2024 (USD Million)
- Drug Discovery
- Biomarker Discovery
- Microbial Genetics, Agriculture, and Animal Research
Next-Generation Sequencing (NGS) Services Market by end-user, 2013-2024 (USD Million)
- Research and Academia
- Hospitals & Clinics
- Pharmaceutical & Biotechnology Companies
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- South Africa
- Saudi Arabia
- Charles River
- Eurofins Scientific SE
- Genewiz, Inc.
- Illumina, Inc.
- Macrogen Inc.
- Novogene Corporation
- PerkinElmer, Inc.
- Qiagen N.V.
- 10X Genomics
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