Dublin, Sept. 25, 2024 (GLOBE NEWSWIRE) -- The "Next-Generation Sequencing Market: Industry Outlook by Offering Application End User - Global Forecast to 2031" report has been added to ResearchAndMarkets.com's offering.
NGS market is projected to reach $42.7 billion by 2031 at a CAGR of 15.7% from 2024 to 2031.
The growth of the NGS market is driven by the rising cancer prevalence & the increasing application of NGS in cancer treatment and research, partnerships between NGS service providers & pharmaceutical companies, technological advancements in NGS, the growing demand for optimized & streamlined NGS workflows, the declining costs of genome sequencing, technological advancements in sequencing procedures, technological advancements in NGS informatics solutions, increasing pharmaceutical R&D expenditures, the surge in genome mapping programs, and improvements in regulatory & reimbursement scenarios for NGS-based diagnostic tests.
Furthermore, the increasing applications of NGS, the rising adoption of bioinformatics and genomic data management solutions, collaborations between vendors to develop library preparation protocols, the growing use of bioinformatics and genomic data management solutions for large-scale data analysis and interpretation, the increasing adoption of NGS informatics tools among hospitals and clinical laboratories, and government initiatives supporting large-scale genomic sequencing projects are expected to generate growth opportunities for the players operating in the NGS market.
The report offers a competitive landscape based on an extensive assessment of the product portfolio offerings, geographic presences, and key strategic developments adopted by leading market players in the industry over four years (2021-2024).
Among the offerings studied in this report, in 2024, the commercial sequencing/outsourced services segment is expected to account for the largest share of 38.0% of the market. The large market share of this segment can be attributed to the benefits offered by NGS service providers, including quick results, cost-effectiveness, and a wide array of services available for various applications.
Among the applications studied in this report, in 2024, the research & other applications segment is expected to account for the largest share of 62.2% of the next-generation sequencing (NGS) market. The large share of the segment is attributed to the decreasing cost of sequencing procedures, increasing R&D by pharmaceutical and biotechnology companies for drug discovery, the increasing applications of NGS in multiple clinical and research settings, and the increasing use of informatics solutions to find pharmacological targets, confirm therapeutic hypotheses, and predict the potential safety of inhibitory compounds aimed at molecular targets.
Among the end users studied in this report, in 2024, the pharmaceutical & biotechnology companies segment is expected to account for the largest share of 43.5% of the next-generation sequencing (NGS) market. The large market share of this segment can be attributed to the increasing R&D spending by pharmaceutical & biotechnology companies and the rising incidence of chronic diseases, which drive the adoption of next-generation sequencing products among pharmaceutical & biotechnology companies.
An in-depth analysis of the geographical scenario of the global next-generation sequencing (NGS) market provides detailed qualitative and quantitative insights into five major regions (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa) along with the coverage of major countries in each region. In 2024, North America is expected to account for the largest share of over 48.7% of the next-generation sequencing (NGS) market. Additionally, in 2024, the U.S. is expected to account for the largest share of the next-generation sequencing (NGS) market in North America.
North America's large market share is attributed to the favorable government initiatives for genomic research, growing applications of sequencing-based research, presence of leading providers of next-generation sequencing technologies in the region, increasing research investments by pharmaceutical and biopharmaceutical companies, declining cost of sequencing coupled with the rising availability of advanced sequencing products and solutions, increasing cancer prevalence, and favorable reimbursement scenario in the region.
Company Profiles (Company Overview, Financial Overview, Product Portfolio, and Strategic Developments)
- Illumina Inc. (U.S.)
- Thermo Fisher Scientific Inc. (U.S.)
- F. Hoffmann-La Roche Ltd. (Switzerland)
- Revvity Inc. (U.S.)
- QIAGEN N.V. (Netherlands)
- Agilent TechnologiesInc. (U.S.)
- Pacific Biosciences of CaliforniaInc. (U.S.)
- Danaher Corporation (U.S.)
- Oxford Nanopore Technologies Plc. (U.K.)
- MGI Tech Co. Ltd. (China)
- Tecan Group Ltd. (Switzerland)
- Beijing Genomics Institute (BGI) (China)
- Eppendorf AG (Germany)
- Hamilton Company (U.S.)
- Hudson Robotics (U.S.)
- LGC Limited (U.K.)
- Fabric GenomicsInc. (U.S.)
- DNASTAR Inc. (U.S.)
- Eurofins Scientific SE (Luxembourg)
- Novogene Co. Ltd. (China)
- Quest Diagnostics Incorporated (U.S.)
Key Topics Covered:
1. Introduction
1.1. Market Definition & Scope
1.2. Market Ecosystem
1.3. Currency & Limitations
1.4. Key Stakeholders
2. Research Methodology
2.1. Research Approach
2.2. Process of Data Collection and Validation
2.3. Market Sizing and Forecasting
2.4. Assumptions for the Study
3. Executive Summary
4. Market Insights
4.1. Overview
4.2. Factors Affecting Market Growth
4.2.1. Impact Analysis of Market Dynamics
4.2.1.1. Rising Cancer Prevalence & Increasing Application of NGS in Cancer Treatment and Research Driving Market Growth
4.2.1.2. Availability of Alternative Technologies Restraining Market Growth
4.2.1.3. Increasing Application of NGS in Personalized Medicine Generating Growth Opportunities for Market Players
4.2.1.4. Data Storage, Handling, Interpretation, and Confidentiality Concerns Expected to Remain a Major Challenge for Market Stakeholders
4.2.2. Factor Analysis
4.3. Industry Trends
4.3.1. Increasing Partnerships & Collaborations Among NGS Solution Providers to Expand and Advance Product Offerings
4.3.2. Development of Portable Sequencing Technologies
4.3.3. Increasing Demand for NGS Automation
4.4. Pricing Analysis
4.4.1. NGS Instruments and Consumables
4.4.2. NGS Services
4.5. Regulatory Analysis
4.5.1. NGS Instruments & Consumables
4.5.1.1. North America
4.5.1.1.1. U.S.
4.5.1.1.2. Canada
4.5.1.2. Europe
4.5.1.3. Asia-Pacific
4.5.1.3.1. China
4.5.1.3.2. Japan
4.5.1.3.3. India
4.5.1.4. Latin America
4.5.1.5. Middle East
4.5.2. NGS Informatics
4.6. Case Studies/Use Cases
4.7. Porter's Five Forces Analysis
5. Next-Generation Sequencing (NGS) Market Assessment - by Offering
5.1. Overview
5.2. Sample Preparation
5.2.1. Kits & Reagents
5.2.1.1. Nucleic Acid Extraction and Amplification
5.2.1.2. Library Preparation
5.2.1.2.1. DNA Library Preparation
5.2.1.2.2. RNA Library Preparation
5.2.1.3. Quality Control
5.2.1.4. Other Kits & Reagents
5.2.2. NGS Workstations
5.3. Sequencing
5.3.1. NGS Systems
5.3.1.1. Sequencing by Synthesis
5.3.1.2. Ion Semiconductor Sequencing
5.3.1.3. Single-Molecule Real-Time Sequencing (SMRT)
5.3.1.4. DNA Nanoball (DNB) Sequencing
5.3.1.5. Other Technologies
5.3.2. Consumables
5.3.3. Services
5.4. Data Analysis/Bioinformatics
5.4.1. Software
5.4.1.1. Software Market, by Type
5.4.1.1.1. Data Analysis Software
5.4.1.1.2. Data Interpretation and Reporting Tools
5.4.1.1.3. Data Storage and Computing Tools
5.4.1.1.4. Laboratory Information Management Systems (LIMS)
5.4.1.2. Software Market, by Deployment Mode
5.4.1.2.1. Web and Cloud-Based
5.4.1.2.2. On-Premise
5.4.2. NGS Informatics Services
5.5. Commercial Sequencing/Outsourced Services
5.5.1. Targeted Sequencing Services
5.5.2. RNA Sequencing Services
5.5.3. De Novo Sequencing Services
5.5.4. Exome Sequencing Services
5.5.5. Chip Sequencing Services
5.5.6. Methyl Sequencing Services
5.5.7. Whole Genome Sequencing Services
5.5.8. Other Commercial Sequencing Services
6. Next-Generation Sequencing (NGS) Market Assessment - by Application
6.1. Overview
6.2. Research & Other Applications
6.2.1. Drug Discovery
6.2.2. Agriculture & Animal Research
6.2.3. Other Applications
6.3. Clinical Applications
6.3.1. Oncology
6.3.2. Reproductive Health
6.3.3. Infectious Diseases
6.3.4. Other Clinical Applications
7. Next-Generation Sequencing (NGS) Market Assessment - by End User
7.1. Overview
7.2. Pharmaceutical & Biotechnology Companies
7.3. Hospitals & Diagnostic Laboratories
7.4. Academic Institutes & Research Centers
7.5. Other End Users
For more information about this report visit https://www.researchandmarkets.com/r/q0ur1k
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