$ 14.1 Billion Next Generation Sequencing Services Markets – Global Forecast to 2028

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DUBLIN, December 01, 2021– (BUSINESS WIRE) – “Next Generation Sequencing Services Market by Type, Technology, Application and End User – Forecast to 2028” report has been added to ResearchAndMarkets.com offer.

The market for next-generation sequencing services is expected to grow at a CAGR of 20.4% from 2021 to 2028 to reach $ 14.1 billion by 2028.

After in-depth secondary and primary research and in-depth analysis of the market scenario, the report examines the major industry drivers, restraints, challenges, and opportunities.

The growth of this market is mainly attributed to the reduction in the cost of NGS procedures, the development and approval of new targeted therapies, the increasing prevalence of cancer, the partnerships between NGS service providers and pharmaceutical companies, the high cost of sequencing infrastructure and technological advancements in NGS.

In addition, advancements in sequencing data analysis and the increasing applications of NGS in cancer research and agrogenomics are expected to provide significant growth opportunities for NGS service providers.

However, the availability of alternative technologies, the lack of skilled professionals for sample preparation and analysis, and exploitable mutations for precision medicine may restrain the growth of the NGS services market. In addition, regulatory and standardization issues in diagnostic testing and ethical issues and costs related to non-invasive prenatal genetic testing are major challenges for the growth of this market.

Based on type, the global NGS services market is segmented into Targeted Sequencing Services, Whole Genome Sequencing Services, RNA Sequencing Services, Exome Sequencing Services, De novo Sequencing Services, ChIP Sequencing Services , methyl sequencing and other NGS services.

In 2021, the targeted sequencing services segment is expected to account for the largest share of the global NGS services market. The large share of this segment can be attributed to the relatively lower cost, faster turnaround time, and the precise and easy to interpret results of targeted sequencing in the study of disease-related genes.

Based on technology, the global NGS services market is segmented into synthetic sequencing (SBS), semiconductor ion sequencing (IOS), real-time single molecule sequencing (SMRT), nanopore sequencing, and other NGS technologies. In 2021, the sequencing by synthesis (SBS) segment is expected to represent the largest share of the global NGS services market.

This significant share of this segment is attributed to its higher error-free throughput efficiency, a baseline call value greater than Q30, and higher precision in DNA sequencing compared to other sequencing technologies available. on the market.

On the basis of applications, the global NGS services market is segmented into biomarker discovery, diagnostics, drug discovery, agricultural and animal research, and other applications. In 2021, the diagnostics segment is expected to account for the largest share of the global NGS services market.

The large share of this segment is mainly attributed to the high use of NGS services in cancer diagnostics globally and improvements in NGS-based oncology and non-invasive prenatal testing (NIPT). The growing emphasis on the use of NGS in cancer research is fueling the growth of this market.

Based on the end user, the global NGS services market is segmented into hospitals and clinics, pharmaceutical and biotechnology companies, academic and research institutes, and other end users. In 2021, the hospitals and clinics segment is expected to account for the largest share of the global NGS services market.

The largest share of this segment is attributed to factors such as high capital requirements for internal NGS capacity building in hospitals and clinics, increasing prevalence of cancer and other chronic diseases, increasing demand for treatments medical advances and the growing number of biomarker-based therapies.

North America is expected to hold the largest share of the global next-generation sequencing services market in 2021, followed by Europe and Asia-Pacific.

Market Snapshot

Conductors

  • Lower costs of sequencing procedures

  • Development and approval of new targeted therapies

  • Increased prevalence of cancer

  • Partnerships between NGS service providers and pharmaceutical companies

  • High cost of sequencing infrastructure

  • Technological advancements in NGS

Constraints

  • Availability of alternative technologies

  • Lack of qualified professionals for sample preparation and analysis

  • Low chance of positive actionable mutations for precision medicine

Opportunities

Challenges

  • Regulatory and standardization issues in diagnostic testing

  • Installation of internal NGS installations in large hospitals and research institutes

  • Ethical issues and costs associated with non-invasive prenatal genetic testing

Key companies operating in the global Next Generation Sequencing Services market are

  • Illumina, Inc. (US)

  • Qiagen NV (Netherlands)

  • PerkinElmer, Inc. (US)

  • Eurofins Scientific SE (Luxembourg)

  • Macrogen, Inc. (South Korea)

  • LGC Limited (UK)

  • GENEWIZ, Inc. (United States)

  • Beijing Genomics Institute (BGI) (China)

  • SciGenom Labs Pvt. Ltd (India)

  • MedGenome Inc. (United States)

  • DNA Link, Inc. (South Korea)

  • Otogenetics Corporation (United States)

  • Novogene Co., Ltd. (China)

  • Genomics CD (United States)

  • Foundation Medicine, Inc. (United States)

  • SeqLL, Inc. (US)

Scope of the report

Global Next Generation Sequencing Services Market, By Type

  • Targeted sequencing services

  • RNA sequencing services

  • De novo sequencing services

  • Exome Sequencing Services

  • Chip sequencing services

  • Whole genome sequencing

  • Methyl sequencing services

  • Other services

Global Next Generation Sequencing Services Market, By Technology

  • Sequencing by synthesis (SBS)

  • Semiconductor ion sequencing (IOS)

  • Single Molecule Real Time Sequencing (SMRT)

  • Nanopore sequencing

  • Other technologies

Global Next Generation Sequencing Services Market, By Application

Global Next Generation Sequencing Services Market, By End User

Global Next Generation Sequencing Services Market, By Geography

  • North America

  • we

  • Canada

  • Europe

  • Germany

  • France

  • UK

  • Italy

  • Spain

  • Rest of Europe (RoE)

  • Asia-Pacific (APAC)

  • Japan

  • China

  • India

  • Rest of APAC (RoAPAC)

  • Latin America

  • Middle East and Africa

For more information on this report, visit https://www.researchandmarkets.com/r/k28ggm

See the source version on businesswire.com: https://www.businesswire.com/news/home/20211201005667/en/

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