Next-Generation Sequencing Services Market is anticipated to grow at 15.4% CAGR till 2028, Says Brandessence Market Research

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Brandessence Market Research And Consulting Private Limited

10 Nov, 2022, 10:30 GMT

LONDON, Nov. 10, 2022 /PRNewswire/ -- The Global Next-Generation Sequencing Services Market is predicted to acquire around 12.24 billion by 2028 and to grow at a CAGR of 15.4% during the forecast period. In addition, the market garnered around 4.80 billion in 2021.

The development of next generation sequencing enables researchers to determine the microorganism's behavior and understand the world of microorganisms from broader and deeper perspectives.

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Next-Generation Sequencing Services Market: Market Scope

The global next-generation sequencing services market is going to grow in the coming years. The growth has been expected due to the increase in the leveraging of both the non-conventional and conventional applications for gaining the rapid and comprehensive insights at the genomic level. This is because of the continuous improvement in the automation, ancillary services, protocols as well as the analytical solutions in the field. This is going to further provide a healthy growth prospect for the implementation of the NGS in the clinical workflow.

Next-Generation Sequencing Services Market: Competitive Analysis 

Some of the major next-generation sequencing services market companies are Veritas Genetics, BGI, GENEWIZ Germany GmbH, ABM Inc., ARUP Laboratories and Novogene Corporation. These are going to be the companies that are going to focus innovation in the coming years. These are going to be companies which work on expansion of market through the geographic expansion of their companies.

Next-Generation Sequencing Services Market: Segmentation Analysis

The human genome sequencing has been holding the greatest share of revenue which has gotten to be around one third of the market in the last few years. This is the most widely offered as well as practiced segments. There is a presence of many key players in the segment that is going to contribute to the growth of this segment. There are many companies operating in the segment too.

The Gene regulation services will be expected to exhibit a greater growth rate during the coming years. This covers a smaller RNA sequencing, Inc., RNA seq, ChIP sequencing, bisulfite sequencing and Isoform sequencing. There are many advantages which have been offered by the RNA sequencing that have allowed replacement of microarrays in these applications.

This is going to be an application of the sequencing which is going to expand in the years to come and that will be driving the segment. A large share was held by the Universities and the other research centers. The revenue has grown primarily because of the use of NGS in the research purposes.

By Type of Sequencing

  • Whole Genome Sequencing
  • Targeted Resequencing
  • Whole Exome Sequencing

By Product Type        

  • Consumables
  • Platforms
  • Services

By Technology

  • Sequencing by Synthesis
  • ION Semiconductor Sequencing
  • Nanopore Sequencing
  • Single-Molecule-Real-Time Sequencing
  • Others

By Application

  • Diagnostics
  • Drug Discovery
  • Agricultural and Animal research
  • Others

By End-User

  • Academic Institutes
  • Research Centers
  • Pharmaceuticals and Biotechnology Industries
  • Hospitals and Clinics
  • Others

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Next-Generation Sequencing Services Market: Regional Analysis

Next-generation sequencing services market regional analysis suggest that the North American region is going to account for the biggest share in the revenue in the coming years due to the many factors like the well-established networks of informatics, effective regulatory guidelines which pertain to the approvals and the genetic test usage along with the presence of different leaders in the market. Further, there is a growth in the number of genomic tests which are FDA approved in the United States which is going to drive the market in the region.

Asia Pacific is a market which is going to grow at the fastest as a revenue earner in the coming years. This is because of the growth in the attention of government bodies towards the public health maintenance and the investments which are made consequently in the development of the advanced diagnostic approaches which will be spurring the uptake of the market in this region.

Moreover, there are domestic players in the market which are going to be involved in the forming of a mutually beneficial partnership among themselves along with the global companies for the service providers of NGS. There are many projects happening and these projects particularly taking place in Japan are going to provide the clients and the customers the best way to innovate and serve their clients in the best possible manner. This is going to grow the market significantly in the coming years particularly in the post pandemic period in Asia.

Next-Generation Sequencing Services Market: Key Drivers

Next-generation sequencing services growth is going to happen because of the growth in the demand for the robust sequencing-based diagnostics and has been resulting in the inception of the new seq-technologies which range from the high throughput sequencers to the portable units. This has fomented a trend of the clinical NGS in the recent past.

There are different products that are launched by different companies which have been establishing a partnership between many companies and the laboratories. The NeXT Dx Test has been recently launched by the Personalis Inc. for the assisting of oncologists in the identifying the new therapy and the clinical trial choices for the people with cancer. This is among the first diagnostic platforms for cancer is for profiling many genes in both the transcriptome and tumor exome which offers the complete genomic result in the great which goes beyond the existing cancer diagnosing panels which focused on only few dozen genes.

Next-Generation Sequencing Services Market: Key Trends

Next-generation sequencing services market trends suggest that the advanced analytics have been included in Personalis NeXT Dx Test is going to provide a diagnostic report on the genetic changes in the medically essential genes of cancer and emerging immunotherapy synthesis biomarkers of the medical value.

Most of the service providers employ the platforms from PacBio, Illumina and the Oxford Nanopore Technologies. They use the technologies in-house for serving the customers by delivering the projects with the high quality and within shortest of the timelines. There are a few products which aren't any longer commercially available. There are some products which are still in development like the Ion Torrent's sequencing and SOLiD platform.

However, these are products that are not accepted widely as the ones which are offered by Illumina. The data which is generated through the genome sequencing which is considered an efficient prognostic tool and diagnostic tool for aiding clinicians in identifying the specific characteristics in every patient. This will further help in offering the personalized therapies for patients thereby improving the patient outcomes. This is a factor which is anticipated for fueling demand for the NGS-Based diagnostics in the years to come.

Most of the issues which have been faced by the end-users in the global next-generation sequencing services market are the implementation of the large-scale data analysis and the challenges to analytics while they conduct the single-cell sequencing. But the manufacturers have been strategizing constantly in their research and development for addressing the challenges.

On Special Requirement Next-Generation Sequencing Services Market Report is also available for below region:

North America

  • U.S, Canada

Europe

  • Germany, France, U.K., Italy, Spain, Sweden, Netherland, Turkey, Switzerland, Belgium, Rest of Europe

Asia-Pacific

  • South Korea, Japan, China, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest Of APAC

Latin America

  • Mexico, Colombia, Brazil, Argentina, Peru, Rest of Latin America

Middle East and Africa

  • Saudi Arabia, UAE, Egypt, South Africa, Rest Of MEA

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