Global Next Generation Sequencing (NGS) Market Outlook
The global Next-Generation Sequencing (NGS) market is projected to reach an estimated value of approximately US$ 34.19 Billion by 2030, growing at a CAGR of 18.16% from 2024 to 2030, according to Renub Research. NGS has revolutionized genomics by providing high-throughput, parallel sequencing of DNA fragments. It enables researchers to make advancements in genomics research, personalized medicine, and applications across biology, medicine, and agriculture. With the rise of Illumina sequencing technologies in the mid-2000s, NGS has significantly reduced the time and cost of genetic studies and diagnostics, contributing to breakthroughs in areas like disease mechanisms, genetics, and evolution
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Market Drivers:
- Adoption of NGS in Diagnostics: The growing reliance on NGS for precise genetic data is a major factor propelling the market. This technology plays a crucial role in diagnosing diseases and tailoring personalized treatments, making it indispensable in clinical settings.
- Shift from Microarrays to NGS: As more companies move from traditional technologies like microarrays to NGS for better accuracy and cost-efficiency, the market is expanding rapidly. NGS surpasses microarrays in detecting DNA variations, especially in complex genetic diagnostics.
- Increasing Demand for Precision Medicine: With healthcare systems focusing more on personalized medicine, NGS has become essential in identifying genetic variations and making targeted treatment decisions.
Reagents and Consumables Dominate the Market: The Reagents & Consumables segment holds the largest share in the NGS market due to their frequent use in commercial and research applications. These consumables, which include sample preparation kits and target enrichment kits, are crucial for NGS operations, driving their high demand across pharmaceutical companies, research institutes, and diagnostic centers.
Diagnostics: The Key Application Segment: Diagnostic applications remain one of the most important contributors to the global NGS market. With its ability to identify genetic variations, NGS has become pivotal in areas like oncology, infectious diseases, prenatal screening, and rare diseases. Precision medicine, which involves treatments tailored to genetic profiles, is heavily reliant on NGS, making this segment a major growth driver.
Sequencing by Synthesis (SBS): Leading Technology: Sequencing by Synthesis (SBS) is the dominant technology in the NGS market, accounting for a significant share. This technology allows accurate sequencing by building complementary DNA strands. Its low error rates, high throughput, and cost-efficiency make it ideal for various applications in research, diagnostics, and personalized medicine.
Growth in Academic and Clinical Research: The academic and clinical research centers segment is expected to grow the fastest, primarily driven by NGS applications in cancer research. NGS is used to discover new cancer-related genes and explore tumor heterogeneity. Research in genetics, disease mechanisms, and drug discovery also heavily relies on NGS technologies.
Geographical Insights:
- North America is expected to lead the NGS market, with the United States at the forefront due to its strong healthcare infrastructure, substantial research funding, and active biotechnology industry.
- Europe and the Asia-Pacific regions are also experiencing rapid growth, driven by research institutions and healthcare advancements in these regions.
Key Players:
- Illumina
- Thermo Fisher Scientific
- Pacific Biosciences
- QIAGEN N.V.
- Roche
- Bio-Rad Laboratories
- Takara Bio Inc.
- Hamilton Company
- Geneious
- BioMérieux SA
These companies are continuously innovating to expand their NGS offerings. For example, in December 2023, Illumina partnered with the African Society for Laboratory Medicine to improve access to genomics across Africa, while SOPHiA GENETICS joined forces with QIAGEN in March 2023 to improve tumor analysis with NGS.
In summary, the global Next-Generation Sequencing (NGS) market is witnessing significant growth, driven by advancements in genomics, increased demand for precision medicine, and the shift towards more efficient technologies like NGS for diagnostics and research. The market’s future looks promising with innovations in NGS technologies and applications across various sectors, including healthcare, agriculture, and drug discovery.
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