Global Next Generation Sequencing (NGS) Market Analysis 2023: A $28.47 Billion Market by 2033 - Untapped Potential with Ongoing Technological Developments and Genomic Healthcare Integration

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Jul 21, 2023, 11:45 ET

DUBLIN, July 21, 2023 /PRNewswire/ -- The "Next Generation Sequencing (NGS) Market - A Global and Regional Analysis: Focus on Offering, Company, Throughput, Technology Type, Sequencing, Application, End User, and Country Analysis - Analysis and Forecast, 2023-2033" report has been added to ResearchAndMarkets.com's offering.

The global NGS market was valued at $6.76 billion in 2022 and is expected to reach $28.47 billion by 2033, growing at a CAGR of 13.97% during the forecast period 2023-2033.

The market is driven by factors such as the increasing adoption of NGS in various research and diagnostics fields, the growing prevalence of non-communicable disorders, and the advancement in the performance of NGS platforms.

The global NGS market is highly consolidated. This market still holds significant potential for growth as technological developments in NGS platforms and initiatives to integrate genomics in healthcare are ongoing. The opportunity for growth of the global NGS market lies in the development of economical and portable technologies.

Impact of COVID-19

NGS has played a crucial role in the genomic surveillance of SARS-CoV-2, the virus responsible for COVID-19. Sequencing the viral genome has helped in tracking the spread of different variants and understanding their genetic characteristics, which has been essential for public health efforts, vaccine development, and treatment strategies.

NGS has been employed in studies investigating the genetic susceptibility to COVID-19 and its severity. By sequencing the genomes of affected individuals, researchers have sought to identify genetic variations associated with the risk of infection, disease progression, and response to treatment.

However, while NGS testing shot up in the research laboratories studying the transmission of the SARS-CoV-2 virus, NGS testing in the clinical setting witnessed a significant drop. The global supply chain for NGS instruments, consumables, and reagents experienced severe disruptions due to the pandemic.

Manufacturing and shipping delays impacted the availability of NGS products and tests, especially in developing regions such as the Middle East, Africa, or Rest-of-the-World.

Market Segmentation

The global NGS market (by offering) is expected to be dominated by the consumables segment.
The global NGS market (by company) is expected to be dominated by Illumina, Inc.
The global NGS market (by throughput) is expected to be dominated by the high- and ultra-high throughput segment.
The global NGS market (by technology type) is expected to be dominated by the sequencing by synthesis segment.
The global NGS market (by sequencing) is expected to be dominated by the targeted sequencing segment.
The global NGS market (by application) is expected to be dominated by the research segment. Within further sub-segmentation, the market is expected to be dominated by the oncology segment.
The global NGS market (by end user) is expected to be dominated by the academic and research insitutes segment.

Recent Developments in the Global NGS Market

In April 2023, NGeneBio signed a business agreement with Agilent Technologies, Inc.'s Korea-based subsidiary, to expand the NGS precision diagnosis in South Korea and abroad.
In March 2023, Sophia Genetics partnered with Agilent Technologies Inc. to integrate its Sophia DDM Platform with Agilent Technologies Inc.'s research-use-only SureSelect Cancer Comprehensive Genomic Profiling (CGP) assay kit.
In March 2023, Thermo Fisher Scientific Inc. collaborated with Pfizer to expand access to NGS-based lung and breast cancer testing in more than 30 countries.

Key Companies Profiled

BGI Group
Illumina, Inc.
Thermo Fisher Scientific Inc.
Pacific Biosciences of California, Inc.
Oxford Nanopore Technologies plc.
Agilent Technologies, Inc.
Qiagen N.V.
Pillar Biosciences
Burning Rock Biotech Limited
Singular Genomics Systems, Inc.
DANAHER Corporation
F. Hoffmann-La Roche Ltd
Twist Bioscience Corporation
Revvity, Inc.
Centogene N.V.
Element Biosciences
Ultima Genomics
Genes2me
LifeStrands Genomics Pte. Ltd.
Alithea Genomics
Real Seq Biosciences

Market Dynamics

Business Drivers

Decreasing Cost of Genome Sequencing
Potential of NGS in the Field of Oncology Research and as a Companion Diagnostic for Oncology in Clinical Settings
Growing Number of Population-Wide Sequencing Studies and Government Initiatives to Integrate NGS in Healthcare
Advantages of NGS Technology over Other Technologies

Business Restraints

Concerns Surrounding the Privacy of Patient Genomic Data
Lack of Complete Reimbursement Coverage for NGS Testing

Business Opportunities

Evolving Regulatory Landscape for Clinical NGS
Growing Number of Gene Mutations across Various Diseases

Industry Outlook

NGS: Overview

Historical Trends
Comparative Analysis of Various Technologies
Global NGS Market: Overview
Emerging NGS Technologies
In-Situ Sequencing
Microscopy-Based Sequencing

Future of Ultra-High Throughput NGS

Current Market Scenario
For Researchers
For Diagnostics
COVID-19 Impact on the Global NGS Market

Supply Chain Analysis

Key Entities in Supply Chain

Research Publications

Primary Insights

Pricing Analysis

For more information about this report visit https://www.researchandmarkets.com/r/3acvv1

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