Global Next Generation Sequencing Market to Reach $15.21 Billion by 2026

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Aug 03, 2022, 13:30 ET

DUBLIN, Aug. 3, 2022 /PRNewswire/ -- The "Global Next Generation Sequencing Market Report 2022" report has been added to ResearchAndMarkets.com's offering.

The global next generation sequencing market is expected to grow from $8.05 billion in 2021 to $9.22 billion in 2022 at a compound annual growth rate (CAGR) of 14.4%. The market is expected to grow to $15.21 billion in 2026 at a compound annual growth rate (CAGR) of 13.4%.

North America was the largest region in the next-generation sequencing market in 2021. Asia Pacific was the second largest region in the next-generation sequencing market. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The growing number of cases with chronic conditions such as cancer, AIDS, and thalassemia contributed to the growth of the next-generation sequencing market. Chronic illnesses and disorders are on the rise around the world, an aging population and shifts in social behavior lead to a gradual increase in these widespread and expensive long-term medical issues.

Next-generation sequencing (NGS) is a versatile development tool utilized by researchers and clinicians across various cancer studies to recognize biomarkers that give guidance on treatments. The prevalence of chronic diseases is also expected to increase significantly, according to the World Health Organization. Hence, the increase in the number of chronic disease cases will increase the requirement for NGS sequencing and boosts revenues for the next-generation sequencing market.

The high cost associated with next-generation sequencing technologies is a key factor hampering the growth of the next-generation sequencing market. The next-generation sequencing market is facing challenges as many people find it difficult to afford the test due to the high cost. Consumables used for sequencing are the costliest portion of testing (68-72% of total cost) as machinery prices are higher in instances of rare disease.

According to a review published on economic evaluations of exome and genome sequencing, the cost of next-generation genome sequencing ranges from $1906 to $24,810 for a single test. Therefore, the high cost of next-generation sequencing is anticipated to restrict market growth over the forecast period.

Technological advances are shaping the next-generation sequencing market. Major companies operating in the sequencing industry are focusing on developing technologically advanced solutions for next-generation sequencing. For instance, in 2020, Thermo Fisher Scientific introduced hematology-oncology assays for the Ion Torrent Genexus System, which authorize simultaneous analysis of DNA mutations and RNA fusion transcripts in myeloid samples in a single day and also enabled further in which turnaround times for next-generation sequencing (NGS) results could be reduced to less than 24 hours.

Markets Covered:

1) By Product: NextSeq Systems; MiniSeq Systems; NovaSeq Systems; iSeq 100 Systems; Ion PGM Systems; Ion Proton Systems; Ion GeneStudio S5 Systems; PacBio RS II Systems; Sequel Systems; Other Products
2) By Technology: Sequencing by Synthesis; Ion Semiconductor Sequencing; Single-molecule Real-time Sequencing; Nanopore Sequencing; Other Sequencing Technologies
3) By Application: Diagnostics; Drug Discovery; Other Applications

Key Topics Covered:

1. Executive Summary

2. Next Generation Sequencing Market Characteristics

3. Next Generation Sequencing Market Trends And Strategies

4. Impact Of COVID-19 On Next Generation Sequencing

5. Next Generation Sequencing Market Size And Growth

6. Next Generation Sequencing Market Segmentation

7. Next Generation Sequencing Market Regional And Country Analysis

8. Asia-Pacific Next Generation Sequencing Market

9. China Next Generation Sequencing Market

10. India Next Generation Sequencing Market

11. Japan Next Generation Sequencing Market

12. Australia Next Generation Sequencing Market

13. Indonesia Next Generation Sequencing Market

14. South Korea Next Generation Sequencing Market

15. Western Europe Next Generation Sequencing Market

16. UK Next Generation Sequencing Market

17. Germany Next Generation Sequencing Market

18. France Next Generation Sequencing Market

19. Eastern Europe Next Generation Sequencing Market

20. Russia Next Generation Sequencing Market

21. North America Next Generation Sequencing Market

22. USA Next Generation Sequencing Market

23. South America Next Generation Sequencing Market

24. Brazil Next Generation Sequencing Market

25. Middle East Next Generation Sequencing Market

26. Africa Next Generation Sequencing Market

27. Next Generation Sequencing Market Competitive Landscape And Company Profiles

28. Key Mergers And Acquisitions In The Next Generation Sequencing Market

29. Next Generation Sequencing Market Future Outlook and Potential Analysis

30. Appendix

Companies Mentioned