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The global Next Generation Sequencing market was valued at USD 8.26 Billion in 2022 and growing at a CAGR of 19.24% from 2023 to 2032. The market is expected to reach USD 48.01 Billion by 2032. The next-generation sequencing technologies (NGS) market has grown significantly since it was first commercialized. This technology is massively parallel, providing ultra-high scalability, throughput and speed. It is used for finding the ordering of nucleotides in the targeted areas of DNA or RNA or complete genomes. NGS has completely transformed the biological sciences, helping the labs to work on a wide variety of applications and research on biological systems at a level that was not possible earlier. NGS helps the lab rapidly sequence the whole genomes and deeply sequence the target regions. It also has the application of using RNA sequencing for discovering novel RNA variants and merging the sites. It is also used for quantifying mRNAs for gene expression analysis. In the lab, it also helps in analyzing epigenetic factors like DNA protein interactions and genome-wide DNA methylation. It is used in the labs for sequencing cancer samples and studying rare somatic variants and tumour subclones. It is also used to study the human microbiome and identify novel pathogens.
Next-generation sequencing (NGS) is a parallel processing method that determines the sequence of nucleotides in the full genome with fast speed, scalability, and ultra-high capacity. Also, the NGS is slowly being used in medical laboratory research, disease diagnosis and screening in the healthcare sector. It is broadly used for personalized medicine, and it helps accelerate the drug research process. The unmet clinical requirement for a better tool for predicting, treating, diagnosing, and monitoring disease and progressively efficient sequencing technologies are some of the factors driving the Next Generation Sequencing Market. Also, a growing understanding of the molecular basis of disease, investment by the industries, patient demand and the regulations that support the marketing of tests without the need for FDA authorization fuel the market's growth. Different potential sequencing techniques like RNA sequencing, whole exome and targeted sequencing and whole-genome sequencing, among others, are broadly used by researchers to obtain a complete sample analysis. Also, compared to conventional Sanger sequencing technology, the NGS is less costly and offers increased throughput for DNA sequencing. The surge in the automation for the pre-sequencing protocols, post-sequencing protocols, and data study is positively influencing the NGS market. Using novel platforms for developing personalized medicine by medical analysis at the genetic level also enhances the demand for the NGS market. Hence, the growing focus on personalized medicine and companion diagnostics, advancements in technology like cloud computing and data integration, and the growing availability of genomic and proteomic data offer huge opportunities for the Next Generation Sequencing market. NGS diagnostic methods can potentially find the virus's genomic sequence and thus help scientists understand the mutations. Also, during the COVID-19 pandemic, governments worldwide collaborated with the corporate sector for the introduction of NGS technology as a properly functioning diagnostic tool in the market.
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Growing demand in the healthcare research sector– There is a growing application of NGS in clinical diagnosis. Also, it offers speed, accuracy and increased efficiency at less cost than traditional techniques like microarrays. There is also a surge in the number of drug discoveries happening. These factors are propelling the growth of the market. Many key players in the market are investing in the development of drugs using this technique. For instance, in January 2022, Illumina collaborated with Nashville Biosciences to speed up medicine development by using large-scale genomics and setting up the preeminent clinical-genomic resource by utilizing Illumina's next-generation sequencing (NGS) platform. All these factors are driving the Next Generation Sequencing Market.
Ethical Issues related to NGS– The utilization of machine learning for the sequencing and analysis of genomic data raises concerns regarding the potential of bias and fiduciary obligations. Hence, NGS poses a threat in three crucial ethical areas: privacy, informed consent and the return of the results. Also, in next-generation sequencing workflows, the low or variable-quality samples can corrupt the downstream processes, like the library preparation, which confounds the analysis. All these factors are acting as a restraint to the market.
Growing demand for personalized medicine– The demand for personalized medicine is growing as it is more effective among individuals. These medicines are designed based on a particular patient, and hence, its history, disease condition, body physique diagnosis, etc., are considered, which will help cure and prevent the disease. Personalized medicine leads to a reduction in the side effects in comparison to other drugs present on the market. Also, the probability of recovery is higher with personalized medicine; it provides personalized treatment, and the medicine provider decides on the treatment and not the patient; therefore, there is a chance of a better result. Genomic testing helps physicians in identifying the individual vulnerability to disease. It also predicts the patient's response to a particular drug and removes the treatments which are not needed. Thus, these medicines have better efficacy of treatments and improve the patient's health. All these factors propel the Next Generation Sequencing market in the forecasting period.
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America emerged as the largest market for the global Next Generation Sequencing market, with a 49.13% share of the market revenue in 2022. It is attributed to several regional clinical laboratories that use Next Generation Sequencing to offer genetic testing services. Also, there is a huge investment in R&D, and there is a good framework of technologically advanced healthcare research along with the development of whole genome sequencing (WGS) in the region. These are some of the factors that are propelling the growth of the next-generation sequencing market in the region.
North America Region Next Generation Sequencing Market Share in 2022 - 49.13%
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The technology segment is divided into Ion torrent semiconductor sequencing & SOLID, Reversible terminator sequencing/ Sequencing by Synthesis, Single Molecule real time sequencing, Nanopore technologies and Others. The Reversible terminator sequencing/ Sequencing by Synthesis segment dominated the market, with a market share of around 77.11% in 2022. This significant market share is because Reversible terminator sequencing is broadly used in the NGS techniques with the sequencing by the synthesis method. The DNA sequencing utilizing the reversible terminators as the sequencing by synthesis approach has become popular because of its broad application in the second-generation high-throughput DNA sequencing approach.
The application segment is divided into oncology, clinical investigation, reproductive health, metagenomics, epidemiology & drug development, HLA typing/immune system monitoring, consumer genomics and agrigenomics & forensics. The oncology segment dominated the market, with a market share of around 29.11% in 2022. The surge in the prevalence of cancer cases has led to the use of the latest technology to help oncologists gain a better understanding of the mechanics of tumour cells and cancer. Next-generation sequencing for RNA and DNA sequencing, epigenetics, and studying chromosomal abnormalities account for more than three-fourths of the world's sequencing data. These factors contributed to the significant market share.
The end user segment is divided into academic research, clinical research, hospitals and clinics, pharma & biotech entities and others. The academic research segment dominated the market, with a market share of around 53.01% in 2022. This market share is attributed to using NGS solutions in many research projects in universities and research centres. Also, many scholarships are offered for NGS projects in Ph.D., which is growing the demand for NGS products and services. It is propelling the growth of the market.
Report Description:
| Attribute | Description |
|---|---|
| Market Size | Revenue (USD Billion) |
| Market size value in 2022 | USD 8.26 Billion |
| Market size value in 2032 | USD 48.01 Billion |
| CAGR (2023 to 2032) | 19.24% |
| Historical data | 2019-2021 |
| Base Year | 2022 |
| Forecast | 2023-2032 |
| Region | The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level. |
| Segments | Technology, Application and End User |
North America region emerged as the largest market for the Next Generation Sequencing.
The market's growth will be influenced by Growing demand in the healthcare research sector.
Ethical Issues related to NGS could hamper the market growth.
Growing demand for personalized medicine will provide huge opportunities to the market.
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. The Brainy Insights has segmented the global Next Generation Sequencing market based on below mentioned segments:
Global Next Generation Sequencing Market by Technology:
Global Next Generation Sequencing Market by Application:
Global Next Generation Sequencing Market by End User:
Global Next Generation Sequencing by Region:
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