Global Next Generation Sequencing Market Report and Forecast 2024-2032

Global Next Generation Sequencing Market Outlook

The global next generation sequencing market size attained a value of USD 10.15 billion in 2023. The market is expected to grow at CAGR 13.8% during the forecast period of 2024-2032 to reach a value of about USD 32.58 billion by 2032. The market growth is driven by the increased government programmes and the increased funding for the large-scale genome projects.

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Next Generation Sequencing Market: Introduction and Insights

Next generation sequencing (NGS) is used to identify the nucleotide order in a specific DNA sample. It makes the sequencing of DNA or RNA quicker and more affordable. Technology breakthroughs in sequencing techniques, rise in genome mapping initiatives, and an increase in drug discovery platforms requiring NGS technology are among the primary drivers for the market. The technique was formerly called “massively parallel sequencing” as it enables a sequence of multiple DNA strands at one time.

Modern sequencing techniques, like Roche 454 and Illumina sequencing, are included in next-generation sequencing. Comparing the classic Sanger's sequencing approach to next-generation sequencing, the latter is less expensive and provides higher throughput for DNA sequencing. NGS is widely used in the field of genetic disease research newborn sequencing metagenomics, precision medicines, biological drug discovery, animal and agricultural research, and oncology research and used for the identification of binding sites on transcriptional factors, non-coding RNA expression profiling, and re-sequencing of the target.

The application of NGS is also rising due to the increase in government programmes for large-scale genome sequencing projects and the introduction of cloud computing as a potential data management service. NGS tools are used in personalised medicine to identify gene expressions, assisting in the development of precision medicine based on the patient's characteristics.

The domains of medical diagnostics have seen dramatic changes because of the discovery of new biomarkers for various diseases, particularly cancer. The effectiveness of biomarkers in illness identification has also risen because of ongoing advancements in sequencing technologies and a deeper understanding of genetics.

Governments around the world are anticipated to make sizeable investments in genome sciences, which is likely to bolster the growth of the next generation sequencing market. Precise diagnosis and personalised medicine increase survival rates and reduce the financial burden on national health insurance programmes.

Next Generation Sequencing Market Segmentations

The market can be categorised on the basis of type, consumables, applications, end-user, and major regions.

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Market Breakup by Type

• DNA Sequencing
  • Whole Genome Sequencing
  • Targeted Sequencing
  • Whole Exome Sequencing
  • Hybridization Capture
  • Amplicon Sequencing
  • Molecular Inversion Probes (MIPs)
• RNA Sequencing
  • Whole Transcriptome Sequencing (WTS)
    • Targeted Gene Expression with RNA sequencing
    • Ribosomal RNA Depletion
  • Epigenomics
    • ChIP-Sequencing
    • Methyl-Sequencing

Market Breakup by Consumables

• Sample Preparation
  • DNA Fragmentation
  • End Repair
  • A-Tailing
  • Size Selection
  • Library Preparation
  • Target Enrichment
  • Quality Control
• Other Consumables
  • Platforms
  • HiSeq
  • MiSeq
  • Ion Torrent
  • SOLiD
  • Pacbio Rs II and Sequel System
  • Other Platforms

Next Generation Sequencing Market Breakup by Applications

• Drug Discovery and Development

• Biomarker Discovery

• Biopharmaceutical Development

• Vaccine Development

• Pharmacogenomics

• Poly pharmacology

• Pharmacoepidemiology

Market Breakup by End User

• Clinical Research

• Academic Research

• Pharmaceutical and Biotechnology Companies

• Hospitals

• Others

Market Breakup by Region

• North America
  • United States of America
  • Canada
• Europe
  • United Kingdom
  • Germany
  • France
  • Italy
  • Others
• Asia Pacific
  • China
  • Japan
  • India
  • ASEAN
  • Australia
  • Others
• Latin America
  • Brazil
  • Argentina
  • Mexico
  • Others
• Middle East and Africa
  • Saudi Arabia
  • United Arab Emirates
  • Nigeria
  • South Africa
  • Others

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Next Generation Sequencing Market Scenario

Global adoption of the newest NGS technologies has been significantly enhanced by the low cost of genome sequencing combined with the availability, effectiveness, and accuracy of NGS devices.

Some institutions and businesses lack the necessary infrastructure to conduct sequencing operations. Additionally, outsourcing the NGS project is a time and money-effective substitute for hiring personnel with specialised skill sets and establishing the infrastructure required to carry out NGS effectively in situations where only a small number of samples need to be sequenced.

As a result, the next generation sequencing market is seeing an increasing trend of corporations outsourcing sequencing to them at low costs. Some of the outsourcing organisations are BGI(China), Eurofins (Luxembourg), GENEWIZ (US), Macrogen (South Korea) PerkinElmer (US), QIAGEN (Netherlands), and Novogene (China). The main drivers of the growth of the NGS market include the rising NGS service offerings of businesses, the complexity of NGS procedures, and the use of cutting-edge NGS platforms by service providers.

The lack of funding and grants for research and academics in developing nations is restraining the adoption of NGS technologies. Despite the ongoing attempts by government and corporate organisations to offer funds for research around the world, many academic and research institutions struggle with budget restrictions when purchasing cutting-edge and expensive equipment and technology.

Many nations have engaged in their own national population genome mapping initiatives to better understand the relationship between heredity and disease. Government organisations are also sequencing millions of genomes for further advancements in science and to find new ways to diagnose and treat diseases including cancer, rare disorders, and other afflictions.

With initiatives like the United Kingdom's 100,000 Genomes Project and France's French Plan for Genomic Medicine 2025, the European Union is working to improve the region's large-scale genomic data. NGS informatics services have increased in the area because of such activities.

The global next generation sequencing market is dominated by North America. Numerous clinical laboratories that use NGS to deliver genetic testing services and the development of WGS in the region is anticipated to play a crucial role in the growth of the market in North America throughout the projected period. This can be attributed to the presence of significant R&D investment and the availability of a technologically sophisticated healthcare research framework.

The market in the Asia Pacific region is anticipated to expand quickly over the forecast period as a result of significant technological advancements made by China and Japan in the area of NGS technologies.

Additionally, the development of healthcare, R&D, and clinical development frameworks in emerging economies, like India and Australia, has positioned the region's NGS market to benefit from profitable growth opportunities.

Therapeutic Landscape of Next Generation Sequencing Market

Genomes, Transcriptomes, and Interactomes have been thoroughly analysed with the help of the variations and quick evolution of modern NGS platforms and high throughput data analysis tools, delivering biologically significant and clinically pertinent information. This large-scale study involves genomics, exomics, metagenomics, epigenomics, and transcriptomics for the development of the following aspects:

• Drug Discovery and Development: One of the most crucial aspects in the drug discovery process is the identification of the target. The goal of evaluating possible therapeutic benefits associated with the alteration of proposed drug targets in patients taking part in clinical trials is to examine potential therapeutic benefits connected with the identification and validation of potential drug targets. NGS can be utilised in this situation to guide and drive the development of innovative therapeutic drugs that target the biological targets linked to disease progression.

Additionally, NGS offers a strong platform for finding disease-related mutations, allowing for a more precise diagnosis of patient’s illnesses by giving detailed genome sequence data. This helps determine the treatment response and the mechanism of drug resistance in the case of antibiotics and chemotherapeutics, allowing for the selection of the most appropriate therapeutic intervention.

• Biomarker Discovery: Biomarkers discoveries are the foundation of precision medicine and are very instrumental in many areas of biomedical research. It has improved the diagnosis and prediction of the disease way easier and quicker. Novel biomarkers have been discovered by large-scale data creation, using NGS and unbiased bioinformatics data analysis, which has sped up and improved the drug discovery process.

• Biopharmaceutical Development: Oncology and infectious illnesses were the primary therapeutic areas for early NGS applications. The recent studies are more interested in understanding the natural antibody repertoires (antibodyomes) and their evolution in response to microbial diseases.

• Vaccine Development: The foundation of vaccine research is a combination of studies including both the pathogen and the host, and NGS has enormous transformational potential in the field of vaccination because to its diverse uses. The possibility that viable vaccines can be created, has significantly increased due to technological advancement, which is helping to understand the intricate dynamics of pathogen evolution and host responses to the disease.

NGS is expected to develop safer vaccines and enter pre-vaccination genome-wide screening to generate personalised vaccinations to minimise the adverse events. Other than this pharmacogenomics, polypharmacology, and pharmacoepidemiology are the areas under the influence of NGS for providing immediate application benefits in healthcare research and development.

Emerging Clinical Applications of NGS

The oncology segment is expected to drive the next generation sequencing market as the use of cutting-edge technology is necessary to help oncologists better understand the biology of cancer and tumour cells. The application of NGS for DNA and RNA sequencing, epigenetics, and chromosomal abnormalities analysis accounts for more than three-fourth of the world's sequencing data. These applications adding further growth to the market.

Current Applications of NGS in Oncology:

NGS in cancer focuses on distinct gene sets. BCC Research predicts that as sequencing costs decrease and the utility of testing for just one gene (or a small number of genes) falls, whole-exome and whole-genome sequencing will gain popularity. In the long run, it is anticipated that most tumours will be fully sequenced, allowing doctors to treat patients with a thorough understanding of an individual’s genetic makeup.

NGS in cancer has made familial screening available to anyone at risk or relatives of cancer patients. Genetic testing among a larger population such as this could lower the mortality rate and overall costs of the disease. Relatives of cancer patients may be at greater risk of developing cancer. The primary driving force for this application is a decline in sequencing prices to the point where NGS diagnostics offer considerable cost-benefit ratios.

Current Application of NGS in Mendelian Disorders:

Menedelian Disorders, also known as rare disorders, are difficult to diagnose. To know the cause of the disorder, the patient needs to undergo expensive and invasive clinical procedures, which usually include serial molecular testing of one or few genes. BCC researchers     studied the most common mendelian disorders in the states, which include cystic fibrosis and muscular dystrophy. With NGS up their sleeves, it is easier and quicker to diagnose mendelian disorders and cost-effective.

The main benefit of NGS is its high multiplexing, which allows it to cover a wide range of genes in a single test format, even those for which there are no available commercial molecular tests. The most common challenge mentioned by several organisations are demonstrating the clinical usefulness of such test formats to the medical community is one of the main difficulties in deploying NGS for this application.

Current Application of NGS in Reproductive Health:

Prenatal, infant, and preimplantation screening are the three main uses of NGS diagnostics in reproductive health. Reduced invasive procedures and early detection of foetal aneuploidy are the main clinical advantages of adopting NGS-based testing. NGS testing is mostly utilised today to screen pregnant women who are at a high risk of giving birth to children with chromosomal abnormalities. Whether the average-risk patient population will adopt NGS-based screening is a crucial question that will affect future market potential.

As the cost of the technology continues to decline, NGS holds out a lot of promise. Newborn screening comprises sequencing a newborn's genome and storing that data as a reference sequence for the duration of the child's life. The main factor influencing this use is the decrease in sequencing and related informatics costs because mass screening is largely cost-dependent. Given that it is anticipated that sequencing prices will continue to decrease, the outlook for this market application is positive.

A new application for NGS is preimplantation screening. The ability to raise in-vitro fertilisation's pregnancy success rates is a significant advantage. The key technological challenge is the inability to offer these tests at a competitive price compared to microarray methods and hence expand the use of NGS.

Apart from these NGS is also emerging in the applications of microbiology, infectious disease, and complex disorders (immune system, metabolic and mitochondrial, cardiovascular, and neurological disorders) and is also being integrated in clinical healthcare.

Next Generation Sequencing Market Competitive Landscape

The report gives an in-depth analysis of the key players involved in the next generation sequencing market, sponsors manufacturing the drugs, and putting them through trials to get FDA approvals. The companies included in the market are as follows:

• Illumina Inc.

• F. Hoffmann-La Roche Ltd.

• Thermo Fisher Scientific, Inc.

• Bio-Rad Laboratories, Inc.

• PierianDX

• Genomatrix GmbH

• DNASTAR, Inc.

• Perkin Elmer, Inc,

• Eurofins GATC Biotech GmbH

• Agilent Technologies, Inc.

• Danaher Corp.

• BGI Genomics

Key Highlights of the Report