Next-Generation Sequencing (NGS) Services Market Insights:
The Next-Generation Sequencing (NGS) Services Market size was valued at USD 10.3 Billion in 2021, at CAGR of 18.5% during the forecast period (2022-2030), and the market is projected to be worth USD 47.7 Billion by 2030.
The increased adoption of Next-Generation Sequencing (NGS) Services in the Biotechnology industry is due to high workability, Stability of structure, good quality, and Demand for making things better. The demand for Next-Generation Sequencing (NGS) Services also has other significant aspects, such as analysis, purchasing volume, costs, pricing analysis, and regulatory framework. Additionally, the increased demand of Next-Generation Sequencing (NGS) Services in many sectors also boosts the market growth during the forecast period.
Next generation sequencing (NGS) is a massively parallel sequencing method that provides scalability, ultra-high throughput, and high speed in determining the order of nucleotides across the genome. As it includes preparing the material for the following sequencing reaction, DNA pre-sequencing is one of the most important processes in the entire sequencing technique. Globally, NGS is increasingly being incorporated into clinical laboratory analysis, testing, and disease diagnostics in the healthcare industry. NGS has been widely employed in pharmacogenomics to speed up drug discovery.
Next-Generation Sequencing (NGS) Services Market Research Report” was just released by Market Research Community. It is divided into several categories, including By type (Targeted Sequencing Services, RNA Sequencing Services, De Novo Sequencing Services, Exome Sequencing Services, Chip Sequencing Services, Whole-genome Sequencing Services, Methyl Sequencing Services), By Technology (Sequencing By Synthesis, Ion Semiconductor Sequencing, Single-molecule Real-time Sequencing, Nanopore Sequencing, Other), By Application (Diagnostics, Drug Discovery, Biomarker Discovery, Agriculture & Animal Research, Other), By End Use (Hospitals & Clinics, Pharmaceutical & Biotechnology Companies, Academics & Research Institutes, Other)and companies (ABM Inc.; ARUP Laboratories; Novogene Corporation; Lucigen; Quest Diagnostics; Gene by Gene, Illumina, Inc.; Veritas Genetics; BGI; GENEWIZ Germany GmbH), According to the analysis of Market Research Community, The market is projected to grow at a significant pace reaching a CAGR of approximately 18.5%, over the forecast period of 2022–2030.
|Report Attributes||Report Details|
|Market Size in 2030 (USD Billion)||47.7 Billion|
|By Type||Targeted Sequencing Services, RNA Sequencing Services, De Novo Sequencing Services, Exome Sequencing Services, Chip Sequencing Services, Whole-genome Sequencing Services, Methyl Sequencing Services|
|By Technology||Sequencing By Synthesis, Ion Semiconductor Sequencing, Single-molecule Real-time Sequencing, Nanopore Sequencing, Other|
|By End User||Hospitals & Clinics, Pharmaceutical & Biotechnology Companies, Academics & Research Institutes, Other|
|By Application||Diagnostics, Drug Discovery, Biomarker Discovery, Agriculture & Animal Research, Other|
|By Geography||North America, Europe, Asia Pacific, Latin America, Middle East and Africa|
|Key Players||ABM Inc.; ARUP Laboratories; Novogene Corporation; Lucigen; Quest Diagnostics; Gene by Gene, Illumina, Inc.; Veritas Genetics; BGI; GENEWIZ Germany GmbH|
The COVID-19 pandemic has had a substantial negative influence on the Next-Generation Sequencing (NGS) Services market in many different regions of the world. The factors such as limited availability of raw materials, transportation restrictions, the shutdown of manufacturing facilities, and economic slowdown are the major impacts of COVID-19 which hampered the market growth. Shipments were impacted during the initial lockdown due to halted automotive productions and stringent government rules. The overall impact of COVID-19 on the industry is estimated to be minimal because the situation has stabilised. Post covid-19, there was a positive impact on the market growth due to the increased industrial manufacturing processes and rising demand for environment-friendly alternatives.
Industry Competitive Landscape:
The research includes comprehensive profiles of the key players in the market and an analysis of the competitive landscape. The market for sample preparation has grown more quickly as a result of the spike in research and development (R&D), product innovation, different business strategies, and application releases. Key players in the market include-
ABM Inc.; ARUP Laboratories; Novogene Corporation; Lucigen; Quest Diagnostics; Gene by Gene, Illumina, Inc.; Veritas Genetics; BGI; GENEWIZ Germany GmbH
Market Segment Analysis:
- Targeted Sequencing Services
- RNA Sequencing Services
- De Novo Sequencing Services
- Exome Sequencing Services
- Chip Sequencing Services
- Whole-genome Sequencing Services
- Methyl Sequencing Services
- Sequencing By Synthesis (SBS)
- Ion Semiconductor Sequencing (IOS)
- Single-molecule Real-time Sequencing (SMRT)
- Nanopore Sequencing
- Drug Discovery
- Biomarker Discovery
- Agriculture & Animal Research
By End User
- Hospitals & Clinics
- Pharmaceutical & Biotechnology Companies
- Academics & Research Institutes
The regional segment includes Asia Pacific, Europe, North America, the Middle East, and Africa, Latin America. In 2021, some of these regions expected to contribute the largest share during the forecast period.
The factors such as the large and easy availability of basic things, rising purchasing power among the population, and favorable government policies and industrial facilities are estimated to accelerate the industry growth in the region. The growing rate of industrialization is anticipated to boost the presence of Next-Generation Sequencing (NGS) Services industries in the region.
Key Next-Generation Sequencing (NGS) Services Market Trends
– Based on type, sub-type, technology utilised, applications, end-users, and geographies, the research identifies, defines, and predicts the Global Next-Generation Sequencing (NGS) Services Market segments.
– Largest Market Share Held by Industry to Industry for Next-Generation Sequencing (NGS) Services
– Based on their expected growth, development patterns and prospects for the future, and contributions to the overall market, it analyses the micro markets.
– Demand from the geographical area is estimated to boost growth.
– Growing Market Segment Adoption in the Next-Generation Sequencing (NGS) Services Industry
– Over the forecast period, higher growth rates are anticipated in in some regions
Why Purchase the Industry Report by MRC
There is a huge amount of information in the report, including market trends and business opportunities for the forecast period.
Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) statistics.
Data at the regional, sub-regional, and national levels also includes information on the market’s supply and demand dynamics.
The competitive landscape includes the proportions of important players, recent innovations, and strategy.
Comprehensive product offerings, important financial data, latest advancements, SWOT analysis, and key player tactics.
Table of Content
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