What is the global market size of Next-Generation Sequencing Services Market?

Global Next-Generation Sequencing Services Market size was valued at USD 4.16 billion in 2021 and is poised to grow from USD 7.31 billion in 2022 to USD 24.5 billion by 2030, growing at a CAGR of 22.56% in the forecast period (2023-2030).

Next-generation Sequencing Services Companies

Next-Generation Sequencing Services Market Competitive Landscape

Next-Generation Sequencing Services Market Top Player's Company Profiles

Eurofins scientific,
Illumina, Inc.
Thermo Fisher Scientific, Inc.
Pacific Biosciences of California, Inc.
BGI Group
Qiagen N.V.
Oxford Nanopore Technologies, Ltd.
F. Hoffmann-La Roche Ltd.
Becton, Dickinson and Company
GENEWIZ, Inc.
Perkinelmer Inc.
Macrogen, Inc.
Agilent Technologies, Inc.
GATC Biotech AG
Partek Incorporated
PierianDx
NantOmics, LLC
10x Genomics, Inc.
GenScript Biotech Corporation
DNASTAR, Inc.

Next-Generation Sequencing Services Market

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Global Next-Generation Sequencing Services Market size was valued at USD 4.16 billion in 2019 and is poised to grow from USD 7.31 billion in 2023 to USD 24.5 billion by 2031, growing at a CAGR of 22.56% in the forecast period (2024-2031).

Global Next-Generation Sequencing Services Market is highly fragmented due to presence of many prominent players. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. Key player includes Agilent Technologies, Inc., BGI Group, F. Hoffmann-La Roche AG, Illumina Inc and Precigen Inc. Prominent Players are spending more on R&D to create the technologically superior system that provides them an edge over rivals. 'Eurofins scientific, ', 'Illumina, Inc.', 'Thermo Fisher Scientific, Inc.', 'Pacific Biosciences of California, Inc.', 'BGI Group', 'Qiagen N.V.', 'Oxford Nanopore Technologies, Ltd.', 'F. Hoffmann-La Roche Ltd.', 'Becton, Dickinson and Company', 'GENEWIZ, Inc.', 'Perkinelmer Inc.', 'Macrogen, Inc.', 'Agilent Technologies, Inc.', 'GATC Biotech AG', 'Partek Incorporated', 'PierianDx', 'NantOmics, LLC', '10x Genomics, Inc.', 'GenScript Biotech Corporation', 'DNASTAR, Inc. '

The market demand is being driven by advancements in clinical diagnosis. Forensics, reproductive health, individualised medicine, biomarkers, and diagnostics are just a few of the uses for next-generation sequencing. Due to the analytical accuracy, high throughput, and cost-effectiveness of next-generation sequencing (NGS), it has become the industry standard for clinical laboratories to use NGS for diagnosing genetic illnesses. So, a feasible alternative to treating rare disorders is genomic sequencing-based diagnosis.

Clonal amplification would not be required with a new sequencing technology that does not employ the polymerase chain reaction (PCR) and instead uses single molecule sequencing and single real-time sequencing, thereby avoiding PCR-related mistakes. Third-generation sequencing equipment were created as a result of these desires following the emergence of next-generation technology. These are based on single-molecule sequencing and are capable of producing longer read lengths with less complex preparatory procedures. Examples include the SMRT (Single-Molecule Real-Time) DNA Sequencing Method, the FRET Sequencing Platform, and Nanopore Sequencing. Single molecule real-time sequencing (SMRT) is a platform that can produce read lengths of about a thousand bases using single molecule real-time sequencing. The FRET Sequencing platform makes use of a DNA polymerase modified with a quantum dot, base fluorescence tagging technology, and DNA template molecules mounted on a solid surface.

North America region held the largest Global next-generation sequencing services market share and accounted for approximately 45% revenue share during 2021 on account of features such a strong regulatory framework for the approval and use of genetic tests, an established informatics network, and the presence of market leaders in the area. Additionally, it is projected that the expanding number of FDA-approved genetic tests in the U.S. will fuel the local market throughout the course of the forecast period. Pharmaceutical businesses in North America are prioritising the introduction of comprehensive genome sequencing efforts, the establishment of reimbursement and regulatory guidelines for NGS-based diagnostic tools, and the creation of precision and personalised medicines.

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