Global Next-Generation Sequencing Technology Market Set to Reach USD 43.41 Billion by 2030, According to Infinium Global Research
PUNE, India, Oct. 12, 2023 /PRNewswire/ -- Infinium Global Research, a renowned provider of market research and analysis services, has published an in-depth report on the Next-Generation Sequencing Technology Market. The report offers comprehensive insights into the global and regional segments of this dynamic market, while also highlighting the influence of drivers, restraints, and macro indicators on its growth trajectory. The global next-generation sequencing technology market, valued at USD 8.23 billion in 2022, is projected to skyrocket to an estimated USD 43.41 billion by 2030, boasting a remarkable Compound Annual Growth Rate (CAGR) of 20.94% during the forecast period from 2023 to 2030.
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Revolutionizing Genomics with Next-Generation Sequencing (NGS) Technology
Next-generation Sequencing (NGS) technology represents a monumental breakthrough in the realm of genomics, facilitating the swift and cost-effective sequencing of DNA and RNA. Diverging from the conventional Sanger sequencing method, NGS techniques can concurrently process millions of DNA fragments, rendering it a potent tool across diverse applications in biology and medicine. The scope of NGS is expansive and perpetually expanding; in research, it has ushered in a genomic revolution, enabling large-scale genome sequencing projects, aiding in the identification of genetic variations, and enabling the exploration of intricate biological phenomena such as gene expression and epigenetics.
In clinical medicine, NGS plays a pivotal role in personalized medicine by enabling the discovery of genetic markers for diseases, profiling cancer, and forecasting drug responses. Moreover, NGS has permeated other domains such as agriculture, forensics, and microbiology, ushering in transformative change beyond human genetics. As NGS technologies become increasingly accessible, they are poised to broaden their scope further, allowing researchers and healthcare professionals to unlock novel insights into genetics and biology, ultimately contributing to enhanced diagnostics, treatments, and a profound understanding of the molecular underpinnings of life.
Driving Factors and Challenges
The adoption of next-generation sequencing technology is driven by an escalating demand for personalized medicine and continuous research breakthroughs. This innovative approach to DNA analysis empowers healthcare professionals and researchers to customize treatments and gain profound insights into individual genetic profiles, thereby leading to more efficacious therapies and groundbreaking advancements across various fields. Moreover, the next-generation sequencing technology market is propelled by the imperative for swifter and more efficient sequencing procedures.
Nonetheless, the widespread implementation of next-generation sequencing encounters hurdles attributed to its high costs and the intricacies associated with data analysis. These obstacles can constrain the accessibility and adoption of the technology for routine genomic analysis and clinical applications. However, the expansion of next-generation sequencing into clinical diagnostics and emerging markets presents substantial growth prospects. As healthcare sectors in developing regions embrace NGS and its applications in patient care proliferate, the technology is poised for widespread adoption, accentuating its potential to influence global health positively.
Regional Leadership and Growth Prospects
North America stands as the leader in the Next-generation Sequencing (NGS) technology market, attributed to its well-established healthcare infrastructure, robust research and development activities, and elevated adoption of advanced medical technologies. Additionally, North America benefits from a prominent presence of key NGS technology providers and a favourable regulatory environment conducive to genomic research and clinical applications. On the other hand, the Asia-Pacific region is projected to emerge as the fastest-growing market for NGS technology. This growth is underpinned by factors such as increasing awareness of personalized medicine, heightened investments in genomics research, and the burgeoning biotechnology and pharmaceutical sectors in countries like China and India. The region also witnesses endeavours aimed at enhancing healthcare accessibility and affordability, driving the adoption of NGS for disease diagnostics and optimized treatment.
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Market Segmentation
The global next-generation sequencing technology market is segmented into various components, modes of delivery, applications, and end-users:
- Components: Sub-markets encompass software, services, and hardware.
- Modes of Delivery: Sub-markets include cloud-based delivery mode, on-premise delivery mode, and web-based delivery mode.
- Applications: Sub-markets consist of clinical applications and research applications.
- End-Users: Sub-markets are divided into academic and research centers, pharmaceutical and biotechnology companies, and hospitals and clinics.
Competitive Landscape
The report provides profiles of the companies in the market such as Agilent Technologies, Inc., Twist Bioscience, DNASTAR, Eurofins Scientific, F. Hoffmann-La Roche Ltd, Illumina, Inc., Macrogen, Inc., PacBio, QIAGEN, and Thermo Fisher Scientific Inc.
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Table of Content
Chapter 1. Preface
1.1. Report Description
1.2. Research Methods
1.3. Research Approaches
Chapter 2. Executive Summary
2.1. Next-generation Sequencing Technology Market Highlights
2.2. Next-generation Sequencing Technology Market Projection
2.3. Next-generation Sequencing Technology Market Regional Highlights
Chapter 3. Global Next-generation Sequencing Technology Market Overview
3.1. Introduction
3.2. Market Dynamics
3.2.1. Drivers
3.2.2. Restraints
3.2.3. Opportunities
3.3. Porter`s Five Forces Analysis
3.4. IGR-Growth Matrix Analysis
3.4.1. IGR-Growth Matrix Analysis by Technology
3.4.2. IGR-Growth Matrix Analysis by Application
3.4.3. IGR-Growth Matrix Analysis by End User
3.4.4. IGR-Growth Matrix Analysis by Region
3.5. Value Chain Analysis of Next-generation Sequencing Technology Market
Chapter 4. Next-generation Sequencing Technology Market Macro Indicator Analysis
Chapter 5. Company Profiles and Competitive Landscape
5.1. Competitive Landscape in the Global Next-generation Sequencing Technology Market
5.2. Companies Profiles
5.2.1. Agilent Technologies, Inc.
5.2.2. Twist Bioscience
5.2.3. DNASTAR
5.2.4. Eurofins Scientific
5.2.5. F. Hoffmann-La Roche Ltd
5.2.6. Illumina, Inc.
5.2.7. Macrogen, Inc.
5.2.8. PacBio
5.2.9. QIAGEN
5.2.10. Thermo Fisher Scientific Inc.
Chapter 6. Global Next-generation Sequencing Technology Market by Technology
6.1. Sequencing by Synthesis
6.2. Ion Semiconductor Sequencing
6.3. Sequencing by Ligation
6.4. Pyrosequencing
6.5. Single-molecule real-time
Chapter 7. Global Next-generation Sequencing Technology Market by Application
7.1. Clinical Application
7.1.1. Cardiovascular
7.1.2. Oncology
7.1.3. Reproductive Health Diagnostics
7.1.4. Others
7.2. Research Application
7.2.1. Drug Discovery
7.2.2. Agriculture & Animal Research
7.2.3. Others
Chapter 8. Global Next-generation Sequencing Technology Market by End User
8.1. Academic and Research Centers
8.2. Pharmaceutical and Biotechnology Companies
8.3. Hospitals and Clinics
Chapter 9. Global Next-generation Sequencing Technology Market by Region 2023-2030
9.1. North America
9.1.1. North America Next-generation Sequencing Technology Market by Technology
9.1.2. North America Next-generation Sequencing Technology Market by Application
9.1.3. North America Next-generation Sequencing Technology Market by End User
9.1.4. North America Next-generation Sequencing Technology Market by Country
9.1.4.1. The U.S. Next-generation Sequencing Technology Market
9.1.4.1.1. The U.S. Next-generation Sequencing Technology Market by Technology
9.1.4.1.2. The U.S. Next-generation Sequencing Technology Market by Application
9.1.4.1.3. The U.S. Next-generation Sequencing Technology Market by End User
9.1.4.2. Canada Next-generation Sequencing Technology Market
9.1.4.2.1. Canada Next-generation Sequencing Technology Market by Technology
9.1.4.2.2. Canada Next-generation Sequencing Technology Market by Application
9.1.4.2.3. Canada Next-generation Sequencing Technology Market by End User
9.1.4.3. Mexico Next-generation Sequencing Technology Market
9.1.4.3.1. Mexico Next-generation Sequencing Technology Market by Technology
9.1.4.3.2. Mexico Next-generation Sequencing Technology Market by Application
9.1.4.3.3. Mexico Next-generation Sequencing Technology Market by End User
9.2. Europe
9.2.1. Europe Next-generation Sequencing Technology Market by Technology
9.2.2. Europe Next-generation Sequencing Technology Market by Application
9.2.3. Europe Next-generation Sequencing Technology Market by End User
9.2.4. Europe Next-generation Sequencing Technology Market by Country
9.2.4.1. Germany Next-generation Sequencing Technology Market
9.2.4.1.1. Germany Next-generation Sequencing Technology Market by Technology
9.2.4.1.2. Germany Next-generation Sequencing Technology Market by Application
9.2.4.1.3. Germany Next-generation Sequencing Technology Market by End User
9.2.4.2. United Kingdom Next-generation Sequencing Technology Market
9.2.4.2.1. United Kingdom Next-generation Sequencing Technology Market by Technology
9.2.4.2.2. United Kingdom Next-generation Sequencing Technology Market by Application
9.2.4.2.3. United Kingdom Next-generation Sequencing Technology Market by End User
9.2.4.3. France Next-generation Sequencing Technology Market
9.2.4.3.1. France Next-generation Sequencing Technology Market by Technology
9.2.4.3.2. France Next-generation Sequencing Technology Market by Application
9.2.4.3.3. France Next-generation Sequencing Technology Market by End User
9.2.4.4. Italy Next-generation Sequencing Technology Market
9.2.4.4.1. Italy Next-generation Sequencing Technology Market by Technology
9.2.4.4.2. Italy Next-generation Sequencing Technology Market by Application
9.2.4.4.3. Italy Next-generation Sequencing Technology Market by End User
9.2.4.5. Rest of Europe Next-generation Sequencing Technology Market
9.2.4.5.1. Rest of Europe Next-generation Sequencing Technology Market by Technology
9.2.4.5.2. Rest of Europe Next-generation Sequencing Technology Market by Application
9.2.4.5.3. Rest of Europe Next-generation Sequencing Technology Market by End User
9.3. Asia Pacific
9.3.1. Asia Pacific Next-generation Sequencing Technology Market by Technology
9.3.2. Asia Pacific Next-generation Sequencing Technology Market by Application
9.3.3. Asia Pacific Next-generation Sequencing Technology Market by End User
9.3.4. Asia Pacific Next-generation Sequencing Technology Market by Country
9.3.4.1. China Next-generation Sequencing Technology Market
9.3.4.1.1. China Next-generation Sequencing Technology Market by Technology
9.3.4.1.2. China Next-generation Sequencing Technology Market by Application
9.3.4.1.3. China Next-generation Sequencing Technology Market by End User
9.3.4.2. Japan Next-generation Sequencing Technology Market
9.3.4.2.1. Japan Next-generation Sequencing Technology Market by Technology
9.3.4.2.2. Japan Next-generation Sequencing Technology Market by Application
9.3.4.2.3. Japan Next-generation Sequencing Technology Market by End User
9.3.4.3. India Next-generation Sequencing Technology Market
9.3.4.3.1. India Next-generation Sequencing Technology Market by Technology
9.3.4.3.2. India Next-generation Sequencing Technology Market by Application
9.3.4.3.3. India Next-generation Sequencing Technology Market by End User
9.3.4.4. South Korea Next-generation Sequencing Technology Market
9.3.4.4.1. South Korea Next-generation Sequencing Technology Market by Technology
9.3.4.4.2. South Korea Next-generation Sequencing Technology Market by Application
9.3.4.4.3. South Korea Next-generation Sequencing Technology Market by End User
9.3.4.5. Australia Next-generation Sequencing Technology Market
9.3.4.5.1. Australia Next-generation Sequencing Technology Market by Technology
9.3.4.5.2. Australia Next-generation Sequencing Technology Market by Application
9.3.4.5.3. Australia Next-generation Sequencing Technology Market by End User
9.3.4.6. Rest of Asia-Pacific Next-generation Sequencing Technology Market
9.3.4.6.1. Rest of Asia-Pacific Next-generation Sequencing Technology Market by Technology
9.3.4.6.2. Rest of Asia-Pacific Next-generation Sequencing Technology Market by Application
9.3.4.6.3. Rest of Asia-Pacific Next-generation Sequencing Technology Market by End User
9.4. RoW
9.4.1. RoW Next-generation Sequencing Technology Market by Technology
9.4.2. RoW Next-generation Sequencing Technology Market by Application
9.4.3. RoW Next-generation Sequencing Technology Market by End User
9.4.4. RoW Next-generation Sequencing Technology Market by Sub-region
9.4.4.1. Latin America Next-generation Sequencing Technology Market
9.4.4.1.1. Latin America Next-generation Sequencing Technology Market by Technology
9.4.4.1.2. Latin America Next-generation Sequencing Technology Market by Application
9.4.4.1.3. Latin America Next-generation Sequencing Technology Market by End User
9.4.4.2. Middle East Next-generation Sequencing Technology Market
9.4.4.2.1. Middle East Next-generation Sequencing Technology Market by Technology
9.4.4.2.2. Middle East Next-generation Sequencing Technology Market by Application
9.4.4.2.3. Middle East Next-generation Sequencing Technology Market by End User
9.4.4.3. Africa Next-generation Sequencing Technology Market
9.4.4.3.1. Africa Next-generation Sequencing Technology Market by Technology
9.4.4.3.2. Africa Next-generation Sequencing Technology Market by Application
9.4.4.3.3. Africa Next-generation Sequencing Technology Market by End User
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Reasons to Buy this Report:
=> Comprehensive analysis of global as well as regional markets of next-generation sequencing technology.
=> Complete coverage of all the product types and application segments to analyze the trends, developments, and forecast of market size up to 2030.
=> Comprehensive analysis of the companies operating in this market. The company profile includes an analysis of the product portfolio, revenue, SWOT analysis, and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus on to invest, consolidate, expand, and/or diversify.
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