DUBLIN--(BUSINESS WIRE)--The "Next-Generation Sequencing (NGS) Market by Product & Service (Consumables, Platforms, Services, Bioinformatics), Technology (SBS, SMRT), Application (Diagnostic, Drug Discovery, Agriculture), End User (Pharma, Biotech, Academic) - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The next-generation sequencing (NGS) market is projected to reach USD 24,244.6 million by 2026 from USD 10,298.9 million in 2021, at a CAGR of 18.7%.
Market growth is largely driven by the advancements in NGS platforms, declining costs of genome sequencing, improving regulatory and reimbursement scenarios for NGS-based diagnostic tests, and the growing incidence of cancer and the increasing applications of NGS in cancer research.
On the other hand, end-user budget constraints in developing countries are expected to restrain the growth of this market to a certain extent. The NGS market in this report is segmented based on product & service, application, technology, end user, and region.
In 2020, Illumina (US), Thermo Fisher Scientific (US), PerkinElmer (US), BGI Group (China), and Agilent Technologies (US) dominated the NGS market. Other prominent players in this market include Eurofins Scientific (Luxembourg), Pacific Biosciences (US), Oxford Nanopore Technologies (UK), QIAGEN (Netherlands), F. Hoffmann-La Roche AG (Switzerland), GENEWIZ (US), Psomagen, Inc. (South Korea), and 10x Genomics (US).
By product & service, the NGS consumables segment accounted for the largest share of the next-generation sequencing market.
The next-generation sequencing market by product is categorized into major consumables and equipment. NGS consumables dominated the market in 2020. The large share of this segment can be attributed to the growing number of sequencing procedures and the launch of easy-to-use consumables.
Asia Pacific: The fastest-growing region in the next-generation sequencing market.
The Asia Pacific market is projected to grow at the highest CAGR during the forecast period, mainly due to the increasing number of NGS-based research projects, the growing number of cancer cases, and rising awareness about precision medicine.
North America: the largest share of the next-generation sequencing market.
North America accounted for the largest share of the next-generation sequencing market. Factors such as the availability of research funding and the development of NGS data analysis solutions are the major factors driving the market growth.
Breakdown of primaries
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Next-Generation Sequencing Market Overview: Advancements in NGS Platforms to Drive Market Growth
4.2 NGS Consumables Segment Accounted for the Largest Share of the North American NGS Market in 2020
4.3 Diagnostics Segment Will Continue to Dominate the NGS Market in 2026
4.4 Academic Institutes & Research Centers Segment Accounted for the Largest Market Share in 2020
4.5 Asia-Pacific Market to Register the Highest Growth in the NGS Market from 2021 to 2026
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Advancements in NGS Platforms
5.2.1.1.1 Iseq 100 System
5.2.1.1.2 Ion Genestudio S5
5.2.1.2 Declining Costs of Genome Sequencing
5.2.1.3 Improving Regulatory and Reimbursement Scenario for NGS-Based Diagnostic Tests
5.2.1.4 Growing Incidence of Cancer and Increasing Applications of Next-Generation Sequencing in Cancer Research
5.2.2 Restraints
5.2.2.1 End-User Budget Constraints in Developing Countries
5.2.3 Opportunities
5.2.3.1 Government & Private Support for Large-Scale Sequencing
5.2.3.2 Application of NGS in Precision Medicine and Molecular Diagnostics
5.2.3.3 NGS Data Analysis Using Big Data
5.2.4 Challenges
5.2.4.1 Interpretation of Complex Data from NGS Platforms
5.2.4.2 Ethical Issues
5.2.4.3 Introduction of Alternative Technologies
5.2.5 Industry Trends
5.2.5.1 Development of Portable Sequencing Technologies
5.2.5.2 Partnerships & Collaborations for Technological Advancements in NGS
5.3 Impact of the COVID-19 Outbreak on the Next-Generation Sequencing Market
5.4 Porter's Five Forces Analysis
5.5 Value Chain Analysis
5.6 Technological Analysis
5.7 Ecosystem Analysis
5.8 Patent Analysis
5.9 Pricing Analysis
5.10 Regulatory Analysis
Company Profiles
Key Players
- Illumina, Inc.
- Thermo Fisher Scientific, Inc.
- Bgi Group
- Perkinelmer
- Qiagen N.V.
- F. Hoffmann-La Roche Ag
- Eurofins Scientific
- Agilent Technologies, Inc.
- Pacific Biosciences
- Oxford Nanopore Technologies
- Genewiz (A Part of Brooks Automation)
- Psomagen, Inc. (Formerly Known as Macrogen)
- 10X Genomics
- Nugen Technologies (A Part of the Tecan Group)
- Zymo Research
- Takara Bio
Other Companies
- Hamilton Company
- Beckman Coulter (A Subsidiary of Danaher Corporation)
- Becton, Dickinson and Company
- Genotypic Technology
- Lucigen Corporation
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