SAN FRANCISCO, May 25, 2022 /PRNewswire/ -- The global next-generation sequencing services market size is expected to reach USD 4.55 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 18.3% from 2022 to 2030. The development of next-generation sequencing (NGS) technologies has revolutionized gene sequencing in terms of reproducibility and cost savings. This has resulted in the introduction of several advancements in NGS technology to promote its usage in clinical labs and hospitals. Most current innovations in this field revolve around simplifying the usage of seq-technology and making it more sophisticated. These factors have driven the uptake of NGS services across various end-users.
Key Insights & Findings from the report:
- By service type, human genome sequencing held the largest revenue share in 2021 owing to greater penetration of whole genome and whole exome sequencing.
- Gene regulation services, particularly small RNA sequencing and ChIP-seq, are anticipated to grow at a lucrative pace during the forecast period. Rising investment in RNA sequencing is fueling the growth of gene regulation services.
- The larger revenue share of sequencing services as compared to other workflow steps can be attributed to an increase in the installation of sequencing platforms. High maintenance and recovery costs of this step have also resulted in greater revenue generation.
- By end-use, the universities and other research entities segment held the largest revenue share in 2021 owing to the growing application of NGS technology for cancer prognosis as well as diagnosis and major projects taken up by academicians and universities.
- North America dominated the market in 2021 owing to higher penetration of the technology in this region and the availability of funds to employ the technique and derive research findings for disease targeting.
- Companies such as GENEWIZ and Novogene Corporation are engaged in offering NGS services based on platforms from major NGS developers. Companies such as Illumina and BGI, on the other hand, are involved in developing sequencing instruments and offering services to research entities.
- In November 2021, Novogene stated during the 44th Annual Gathering of Molecular Biological Society of Japan (MSBJ) in Japan that they will be launching single-cell sequencing services specifically for their Japanese customers.
- GENEWIZ scientists are assisting in identifying the NGS solution for the projects. The NeXT Dx Test was launched by Personalis, Inc. to assist oncologists in identifying new therapy and clinical trial choices for cancer patients
Request a free sample copy or view report summary with TOC - "Next-Generation Sequencing Services Market Size, Share & Trends Analysis Report By Service Type (Human Genome Sequencing, Gene Regulation Services), By Workflow, By End-use, And Segment Forecasts, 2022 - 2030", published by Grand View Research.
Next-Generation Sequencing Services Market Growth & Trends
Next-generation sequencing has progressed from research to clinical use in the last five years. Around 14 nations have launched large-scale genome sequencing programs, with nearly 60 million people expected to have their genome analyzed by 2025. Conventional disease testing service providers have broadened their portfolio with a rising trend of seq-based genetic tests. For instance, ARUP Laboratories announced the release of new coronavirus tests in March 2022, and IDbyDNA, Inc. partnered with another firm to introduce new coronavirus tests, an NGS test for respiratory illnesses, to aid physicians in evaluating patients with pneumonia and some other respiratory problems.
With the rising trend of high throughput sequencing within the pharma and biotech industry, there is a need for more developments to improve the speed and convenience of high throughput seq-platforms and simplify workflows. As a result, companies are focusing on the development of solutions to simplify the amplification and purification of samples and starting input. In March 2022, Illumina, Inc. announced the release of TruSigh Oncology (TSO) Comprehensive (EU), a comprehensive diagnostic that evaluates several tumor genes and indicators to identify a patient's cancer's individual molecular profile. The in vitro diagnostic (IVD) kit would assist in influencing genomic decisions for patients with cancer across Europe, with its global debut taking place first in Europe.
Next-generation Sequencing Services Market Segmentation
Grand View Research has segmented the global next-generation sequencing services market on the basis of service type, workflow, end-use, and region:
NGS Service Market - Type Outlook (Revenue, USD Million, 2017 - 2030)
- Human Genome Sequencing
- Single Cell Sequencing
- Microbial Genome-based Sequencing
- Gene Regulation Services
- o Small RNA Sequencing
- o ChIP Sequencing
- o Other Gene Regulation-based Services
- Animal & Plant Sequencing
- Other Sequencing Services
NGS Services Market - Workflow Outlook (Revenue, USD Million, 2017 - 2030)
- Data Analysis
NGS Services Market - End-use Outlook (Revenue, USD Million, 2017 - 2030)
- Universities & Other Research Entities
- Hospitals & Clinics
- Pharma & Biotech Entities
NGS Services Market - Regional Outlook (Revenue, USD Million, 2017 - 2030)
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- South Africa
List of Key Players of Next-Generation Sequencing (NGS) Services Market
- Illumina, Inc.
- Veritas Genetics
- GENEWIZ Germany GmbH
- ABM Inc.
- ARUP Laboratories
- Novogene Corporation
- Quest Diagnostics
- Gene by Gene
Check out more related studies published by Grand View Research:
- Next-generation Sequencing Data Analysis Market - The global next-generation sequencing data analysis market size is expected to reach USD 1.72 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 15.02% from 2021 to 2028. Key drivers contributing to the market expansion include the growing adoption of sequencing platforms for clinical diagnosis because of a significant reduction in the cost of installation.
- Next Generation Sequencing Market - The global next generation sequencing market size is anticipated to reach USD 11.7 billion by 2028 registering a CAGR of 14.4%, according to a new report by Grand View Research, Inc. As researchers are continuously unlocking the genetic diversity, the development of targeted therapies is on the rise.
- Next Generation Sequencing Sample Preparation Market - The global next-generation sequencing (NGS) sample preparation market size is expected to reach USD 5.80 billion by 2025, expanding at a CAGR of 11.19% over the forecast period according to a new report by Grand View Research, Inc. Development of companion diagnostics and personalized medicine is expected to enhance the adoption of next-generation sequencing protocols in clinical practice.
Browse through Grand View Research's Biotechnology Industry Research Reports.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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