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Next-Generation Sequencing (NGS) Market to reach USD 73.1 billion by 2031| Next-Generation Sequencing (NGS) to grow at a CAGR of 20.5% by 2021 to 2031

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Pune, May 09, 2022 (GLOBE NEWSWIRE) — The Global Next-Generation Sequencing (NGS) Market Size is expected to clock US$ ~73.1 billion by 2031 owing to the rising prevalence of chronic diseases, advancements in NGS platform, and improving regulatory and reimbursement environment for NGS-based diagnostic tests. Gain more insights: https://growthplusreports.com/report/next-generation-sequencing-(ngs)-market/7680

Growth Factors

The ongoing pandemic of COVID-19 caused by Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2) has affected almost every country worldwide, and resulted in severe outcomes, across all regions. The first case of COVID-19 was found in Dec 2019 and by the end of Dec 2020, the count has surged to more than 90.3 million globally.

Next-generation sequencing (NGS) provides an effective, unbiased way to identify new coronavirus strains and other pathogens without prior knowledge of organisms. Therefore, several prominent players, government bodies, and numerous organizations are making a collaborative effort to accelerate the identification of COVID-19 positive patients. For instance, in Dec 2020, Ginkgo Bioworks, Inc. and Octant, Inc announced a partnership to grow critical diagnostic testing capacity to address the COVID-19 pandemic and build infrastructure to confront future health and biosecurity concerns.

The partnership aimed to open a new processing facility in the San Francisco Bay Area that will deploy Octant’s SwabSeq sequencing platform and Next-Generation Sequencing (NGS) technology, initially capable of running up to 10,000 SARS-CoV-2 diagnostic tests per day, with potential to scale further.

The global next-generation sequencing (NGS) market has been analyzed from five different perspectives – Products & Services, Technology, Application, End User, and Region.

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Excerpts from ‘By Technology Segmentation’

The global next-generation sequencing (NGS) market has been segmented majorly into five distinct categories depending on technology, viz.

  • Sequencing by synthesis
  • Ion semiconductor sequencing
  • Single-molecule real-time sequencing
  • Nanopore sequencing
  • Other sequencing technologies (sequencing by ligation, pyrosequencing, etc.).

The sequencing by synthesis segment holds the largest share in the next-generation sequencing (NGS) market. Sequencing by synthesis allows analyzing DNA quickly and accurately. The growth of the segment can mainly be attributed to development of advanced and cost-effective NGS platforms that uses sequencing by synthesis technology.

Excerpts from ‘By Region Segmentation’

Based on region, the global next-generation sequencing (NGS) market has been segmented into: –

  • North America
  • Europe
  • Asia Pacific
  • The Rest of the World (ROW)

North America dominated the next-generation sequencing (NGS) market, followed by Asia Pacific. The large share of North America in the global market can largely be attributed to high prevalence of infectious diseases & cancers, rapid adoption of technologically advanced NGS coupled with favorable reimbursement policies and developed healthcare infrastructure. Moreover, development in advanced NGS bioinformatics solutions is also expected to boost the market.

Excerpts from ‘Competitive Landscape’

The prominent players operating in the global next-generation sequencing (NGS) market are: –

  • Illumina, Inc
  • Thermo Fisher Scientific
  • PerkinElmer Inc
  • QIAGEN
  • Eurofins Scientific
  • F. Hoffmann-La Roche Ltd
  • Takara Bio Inc
  • GENEWIZ
  • BGI
  • Macrogen Oceania, among others

Next-Generation Sequencing (NGS) Market Segmentation: –

Products & Services: –

  • Systems & Instruments
  • Consumables
  • Software & Service

Technology: –

  • Sequencing by Synthesis
  • Ion Semiconductor Sequencing
  • Single-molecule Real-time Sequencing
  • Nanopore Sequencing

Application: –

  • Diagnostics
  • Drug Discovery & Development

End-User: –

  • Hospitals and Clinical
  • Pathology Labs

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Report Scope: –

Report Coverage Details
Forecast Period 2021-2031
CAGR Value ~20.5%
Market Size by 2031 USD 73.1 billion
Base Year 2020
Market Size in 2020 USD 9.4 billion
Historical Data for 2018-2020
No. of Pages 100 – 120
Segments covered Products & Services, Technology, Application, End-User

VALUE PROPOSITIONS RELATED TO THE REPORT:

  • Powered with Complimentary Analyst Hours and Expert Interviews with Each Report
  • Comprehensive quantitative and qualitative insights at a segment and sub-segment level
  • Covid 19 impact trends and perspective
  • Granular insights at the global/regional/country level
  • Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
  • Blanket coverage of the competitive landscape
  • Winning imperatives
  • Exhaustive coverage of ‘Strategic Developments’ registered by leading players of the market

CUSTOMIZATION OPTIONS:

  • Distributor Landscape Assessment
  • Pricing Intelligence
  • Customer Base Assessment
  • Investment & Initiatives Analysis
  • ‘Business Profile’ of Key Players

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