Next-Generation Sequencing Services Market Size, Share, Growth Analysis, By Service type(Human Genome Sequencing, Single Cell Sequencing, Microbial Genome-based Sequencing, Gene Regulation Services), By Workflow(Pre-sequencing, Sequencing, Data Analysis), By Technology(Sequencing By Synthesis (SBS), Ion Semiconductor Sequencing (IOS), Single-molecule Real-time Sequencing (SMRT), Nanopore Sequencing), By Application(Diagnostics, Drug Discovery, Biomarker Discovery, Agriculture & Animal Research), By End User(Universities & Other Research Entities, Hospitals & Clinics, Pharma & Biotech Entities, others), By Region - Industry Forecast 2024-2031

Next-Generation Sequencing Services Market Driver

• 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.
• With time, the price of the next-generation sequencing technology is also falling, by a significant amount. Next-generation sequencing is getting more accessible and inexpensive as costs continue to fall, which is fueling industry expansion. The quantity and variety of library preparation options have increased in tandem with the evolution of next-generation sequencing, and as capacities increase, limits for sample preparation are also being pushed.
• The next-generation sequencing market is expected to grow as a result of an increase in the supply of trained workers for sample preparation. Furthermore, improvements in sequencing technologies are opening the door to new treatments for people with Mendelian disorders, cancer, and other conditions.

Next-Generation Sequencing Services Market Restraint

• Any type of DNA sequencing, including NGS, is subject to legal and ethical considerations. In addition to concerns unique to a particular culture and group, these issues also include identifiability, releasing study findings, stereotyping, the appropriateness of consent, stigmatisation, inclusion, and differential benefit. In essence, these moral concerns restrain market expansion.
• Furthermore, the main factors projected to restrain market expansion over the estimated period are the difficulty in setting up in-house throughput devices and the interpretation of complicated data from NGS platforms.