Next-Generation Sequencing (NGS) Market Size, Share and Industry Analysis By Type (Products, Instruments & Software, Consumables, Services), By Application (Diagnostics, Research), By End User (Research Institutes, Healthcare Facilities & Diagnostic Centres, Pharmaceutical & Biotechnological Companies, Contract Research Organization) & Regional Forecast, 2019 - 2026

Global Next-Generation Sequencing Market size was valued at US$ 6,335.2 Million in 2018 and is Projected to Reach US$ 31,411.3 Million by 2026, exhibiting a CAGR of 22.2% during 2018-2026 period. Growing demand for fast, cost-effective, and accurate DNA sequencing data interpretation has resulted in the birth and dominance of NGS industry.

As it allows the sequencing of massive amount of DNA in a single run, thus facilitating the diagnosis of diseases and research. One of the major contributions of next-generation sequencing is genomics. The initiation of genomics projects in various countries such as the U.K., Qatar, and others is anticipated to favour this market. Also, the emergence of NGS-based diagnostics and active government support for the same are the major factors for the expansion of the market.

Key Market Drivers

Diversified Applications of Next-Generation Sequencing in Diagnostics, are Driving the Market

The lowered cost of sequencing has resulted in increasing the application of NGS in diagnosis of diseases. Various test kits and testing services are emerging for the non-invasive pre-natal testing, cancer diagnosis, genetic testing, and others, which is driving the global market. Moreover, the active government support through product approval and improved reimbursement coverage for such diagnostic tests is expected to provide new market growth opportunities. 

In addition, rising prevalence of chronic diseases, increased research, and start of high budget genomics projects is anticipated to further fuel the market growth during the forecast period.

Market Segmentation

Next-generation sequencing products include both instruments, software, and consumables. The product segment is estimated to dominate the market throughout the forecast period. The primary reasons responsible for its growth are the easy availability, high volume usage of consumables, and new product launch. The emerging need for new platform for accurate DNA data interpretation and advancements in bioinformatics has successfully contributed to increasing the number of startups for NGS software and services. 

This has also rendered the services as the most attractive and lucrative segment in the NGS market. The services segment is anticipated to have a remarkable growth during the forecast period owing to the decrease in cost of sequencing through NGS, rapid adoption of genetic test, emerging guidelines, and health reimbursement policies. In terms of application, the market is divided into diagnostics, research and others. The diagnosis segment is estimated to account for a major portion of the next-generation sequencing market owing to the increasing adoption of genetic test, demand for cancer diagnosis, and increase in number of service providers. 

In May 2018, Centers for Medicare & Medicaid Services (CMS) announced the National Coverage Determination to cover next-generation sequencing-based laboratory test for patients having cancer, which is projected to accelerate the growth of diagnosis segment. Various end users covered under the report are research institutes, healthcare facilities & diagnostic centres, pharmaceutical & biotechnological companies, and Contract Research Organization (CROs).

Regional Analysis

North America to Dominate the Market

North America dominated the next-generation sequencing market share in 2018. The market in the region was valued at US$ 2,331.4 Mn in 2018. The active government support, direct presence of major manufacturers, and rising prevalence of cancer are the major factors for the expansion of the market in North America in the forecast duration. 

In September 2018, the FDA granted marketing approval for ClonoSEQ assay, a next-generation sequencing-based diagnostic test for minimal residual disease (MRD), in patients having acute lymphoblastic leukemia (ALL) or multiple myeloma, which is expected to augment the market in North America. 

In Europe, the market is estimated to expand owing to the increasing research investment, emphasis of precision medicines, and strategic collaborations. However, Asia Pacific is projected to report a remarkable growth owing to the increasing research activities, rising prevalence of genetic disorders, awareness on reproductive health, and improving healthcare infrastructure. The market in Latin America and Middle East & Africa is projected to register moderate CAGR during 2019-2026.

Key Players

Illumina, Inc., F. Hoffmann-La Roche Ltd., and Thermo Fisher Scientific Inc., to Account for the Largest Market Share in Terms of Revenue

Illumina, Inc., F. Hoffmann-La Roche Ltd., and Thermo Fisher Scientific Inc., are estimated to acquire leading position in this market owing to their diversified product portfolio, strong geographical presence, and strategic partnerships. Illumina, Inc. acquired the top position in the market owing to the increasing sales of its products. In November 2017, Illumina announced the launch of NextSeq 550Dx instrument, the company’s second FDA approved and CE marked NGS platform to diversify its diagnostic NGS product portfolio and strengthening its position in the next-generation sequencing market. 

Other key market players operating in the global market are Agilent Technologies, Inc., QIAGEN, BGI, PerkinElmer Inc., Eurofins Scientific, Macrogen, Inc., PierianDx, and others.

Next-Generation Sequencing (NGS) Market Players

• Illumina, Inc.


• Thermo Fisher Scientific Inc.


• F. Hoffmann-La Roche Ltd


• Agilent Technologies, Inc.


• QIAGEN


• BGI


• PerkinElmer Inc.


• Eurofins Scientific


• Macrogen, Inc.


• PierianDx


• Other prominent players

Report Coverage 

Sequencing of DNA fragments have helped in the diagnosis of diseases, research, drug discovery, forensics, and others. Next-generation sequencing, also called as high through-put sequencing is a useful platform that enables the sequencing of millions of DNA molecules simultaneously. The demand for next-generation sequencer is booming drastically, owing to its advantage of sequencing millions of DNA fragments in a single run. 

Many of the upcoming genetic tests such as Non-invasive Prenatal Testing (NIPT), Preimplantation Genetic Testing (PGT), virology, molecular testing, cancer diagnosis, and others are based on this technology. The increasing clinical application of NGS, increasing research, initiation of genome projects in various countries, adoption of personalized medicines, and advancements in bioinformatics are expected to further boost the market.

The next-generation sequencing market report provides qualitative and quantitative insights on the industry trends and detailed analysis of market size and growth rate for all possible segments in the market. The market segments include type, application, end user, and region. Based on type, this market is segmented into products and services. The products segment is further bifurcated into instruments & software and consumables. In terms of application, the market is divided into diagnostics, research, and others. 

Various end users covered under the report are research institutes, healthcare facilities & diagnostic centers, pharmaceutical & biotechnological companies, Contract Research Organization (CROs). Geographically, the market is segmented into four major regions, which are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The regions are further categorized into countries.

Along with this, the NGS market report analysis includes market dynamics and competitive landscape. Various key insights provided in the report are the overview of diagnostic tests, new product launch, regulatory scenario for key countries, startups with their funding overview, recent industry developments such as mergers & acquisitions, and key industry trends.

Segmentation

Key Industry Developments

• May 2021 – Illumina, Inc., and Next Generation Genomic Co., Ltd; company focused on laboratory services and reproductive science, announced the launch of VeriSeq NIPT Solution v2 in Thailand, a CE-IVD, next-generation sequencing NGS based approach for noninvasive prenatal testing (NIPT).


• February 2021 – QIAGEN and INOVIO Pharmaceuticals announced an extension of their partnership to develop liquid biopsy based companion diagnostic products based on next generation sequencing technology to enhance INOVIO's therapies.


• June 2020 – Illumina, Inc. announced the acquisition of BlueBee, a cloud-based software company that provides genomics analysis solutions for research and clinical customers.


• May 2020 – Roche announced the acquisition of Seattle based early stage sequencing technology firm Stratos Genomics with an aim to advance development of Roche's nanopore sequencer.