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Global Next Generation Sequencing (NGS) Market is Expected to Grow at a CAGR of 21% between 2022 and 2027.

According to a new report by EMR titled, 'Global Next Generation Sequencing (NGS) Market Report and Forecast 2022-2027', the global next generation sequencing (NGS) market size was valued at USD 8 billion in 2020. The market is further expected to grow at a CAGR of 21% in the forecast period of 2022-2027 to reach USD 24 billion by 2026.

The global next generation sequencing (NGS) market has North America as a significant market owing to its largest market share. The market is driven by the technological advancements in NGS, boost in partnerships and collaborations, and rise in the application of next generation sequencing. Huge demand from the end-user industries, such as academic and clinical research centres, hospitals and clinics, and pharmaceutical and biotechnology companies, among others, are providing impetus to the market growth of the next generation sequencing (NGS). Several applications of NGS such as oncology studies, biomarker studies, agricultural and animal research, and personalised medicine, among others, are witnessing a boost in their demand, thus, propelling the next generation sequencing (NGS) market growth.

Illumina, Inc. (NASDAQ: ILMN) and F. Hoffmann-La Roche Ltd. (SWX: ROG) are the major key players in the next generation sequencing (NGS) market. In October 2020, Illumina, Inc., along with QIAGEN N.V. (NYSE: QGEN), announced a 15-year long partnership with the purpose of increasing the availability and the use of NGS based IVD kits such as companion diagnostics for patient management.

Market Analysis by Component, Technology, Application, and Region:

  • The next generation sequencing (NGS) market, on the basis of component, is bifurcated into NGS platforms and NGS services.
  • On the basis of technology, the market is divided into sequencing by synthesis, ion semiconductor sequencing, single-molecule real-time sequencing, and nanopore sequencing, among others.
  • The market is categorised on the basis of application into diagnostics, drug discovery, and agricultural and animal research, among others.
  • Regionally, the market is divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of The Report:

  • The global next generation sequencing (NGS) market is driven by the innovations in systems of the next-generation sequencing.
  • The market is further aided by the technological advancements in the field, providing players with a quick competitive edge, as a result, making sure that the product development and research have consistent focus.
  • The declining costs of next generation sequencing (NGS) platforms are providing impetus to the market growth of next generation sequencing.
  • Enhancing regulatory and reimbursement scenario for NGS based diagnostic tests is accelerating the market growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the global next generation sequencing (NGS) market for the periods (2017-2021) and (2022-2027).
  • The report also offers the historical (2017-2021) and forecast (2022-2027) market trends for the component, technology, application, and regional markets of the global next generation sequencing (NGS) market.
  • It assesses the market based on the SWOT and Porter’s Five Forces model as well.

Illumina, Inc., F. Hoffmann-La Roche Ltd., Agilent Technologies, Inc., Oxford Nanopore Technologies Limited, Macrogen, Inc., Thermo Fisher Scientific Inc., Eurofins Genomics, PierianDx, and QIAGEN N.V., among others, are the key players in the global next generation sequencing (NGS) market. The EMR report looks into the capacity, market share, and latest developments of these major players like plant turnarounds, mergers and acquisitions, and capacity expansions.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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