Next Generation Sequencing (NGS) Market Size to Reach USD 43.35 Billion in 2031
The Next Generation Sequencing (NGS) Market size was USD 11.56 Billion in 2023 and is expected to register a revenue CAGR of 17.9% during the forecast period
December 24, 2024 – The global Next Generation Sequencing (NGS) market size reached USD 11.56 Billion in 2023 and is expected to register a revenue CAGR of 17.9% during the forecast period. Increase in prevalence of genetic disorders is a key factor driving market revenue growth.
Rare diseases are distinguished by a vast range of symptoms and indicators that differ not only between diseases, but also between patients suffering from the same condition. Because each disease has a low prevalence, medical skill is rare, knowledge is scarce, care options are inadequate, and research is limited. Despite their large numbers, uncommon disease patients are routinely overlooked by health-care systems, denied diagnosis, treatment, and research advantages. An uncommon disease affects an estimated 30 million people in 48 nations across Europe. Each rare disease affects fewer than 1 in 2000 individuals. Rare diseases impact approximately 4% of the population over their lifetime, with estimates ranging from 3.5% to 5.9%. Approximately 85% of rare diseases afflict less than one person in a million, or fewer than 500 people in the European Union. The National Institutes of Health (NIH) estimates that 7,000 uncommon diseases affect 25-30 million Americans.
For instance, on August 2024, Twist Biosciences collaborated with MedGenome, a global genomic-driven diagnostics and research services company, to launch the HOPE for Rare Diseases Program, which will offer discounted whole exome sequencing to economically disadvantaged families with the necessary documentation for a limited time. This partnership coincides with MedGenome’s tenth anniversary of pioneering genomic services in India. Twist is deploying Twist Exome 2.0 to support this effort. Designed to detect rare and inherited disorders, the panel achieves excellent accuracy and efficiency, allowing researchers and clinicians to acquire meaningful data with minimal sequencing.
Data privacy and ethical concerns is a key challenge for next generation sequencing (NGS) market. NGS yields a large amount of genomic information, including essentially all of each participant’s unfavorable protein-coding alleles. Because commercial entities have the potential to exploit NGS data, institutions employing NGS technology must verify that proper data security measures are in place, including an assessment of the efficiency of the institutional firewall. NGS data not only jeopardizes individual privacy, but it can also cause problems for groups and families. Research on a tiny section of a given population may be used to generalize about the entire group, resulting in overgeneralizations or even stigma.
Key Highlights:
- NGS platforms segment is expected to register highest share over the forecast period. The growing demand for accurate, quick, and low-cost DNA sequencing is driving the development of next-generation sequencing (NGS) technology. These technologies are extremely valuable in decoding life’s mysteries, enhancing crop quality, detecting infections, and improving living quality. Thousands to millions of molecules can be sequenced concurrently utilizing various NGS approaches.
- Sequencing by Synthesis (SBS) segment is expected to account for a significant fastest growth rate over the forecast period. Most SBS technologies use a procedure in which individual DNA molecules to be sequenced are distributed to millions of different wells or chambers, or anchored to specific spots on a solid substrate. For instance, DNA fragments are sequenced by the Illumina system using Sequencing by Synthesis (SBS) technology. Every week, HiSeq1000 produces more than a billion reads of 100 bases. Genome re-sequencing, transcriptome analysis, SNP identification and structural variation analysis, DNA-protein interaction analysis (ChIP-Seq), sequencing-based methylation analysis, small RNA, and other applications are all perfectly suited for this system.
- Asia Pacific accounted for fastest growth rate in the next generation sequencing (NGS) market in 2023 due to the increase in prevalence of genetic disorders and technological advancements in genomics and NGS technologies. On December, 2024, NGeneBio, a Korean precision diagnostics business that specializes in next-generation sequencing (NGS) platforms, announced that it is the first in Korea to develop and commercialize the ONCOaccuPanel RNA analysis technique for detecting gene fusion mutations in solid cancer patients. This technology is part of NGeneAnalySys, a cancer gene analysis platform based on NGS. The new RNA analysis capabilities extend NGeneAnalySys from DNA to RNA analysis, allowing for the simultaneous detection of fusion mutations in 145 genes with great sensitivity and accuracy.
- Some major companies in the market report include Thermo Fisher Scientific, Illumina Inc., F. Hoffman La Roche, QIAGEN N.V., Oxford Nanopore Technologies, Revvity, Inc., Eurofins Scientific, BGI Genomics, Bio-Rad Laboratories Inc., Pacific Biosciences, Genomatix GmbH, New England Biolabs, Promega Corporation, and Novogene Corporation.
- On October 2024, Thermo Fisher Scientific, a global leader in serving science, has received FDA approval for its Ion Torrent Oncomine Dx Target Test as a companion diagnostic (CDx) to identify patients eligible for treatment with Servier Pharmaceuticals, LLC’s VORANIGO (vorasidenib) tablets. VORANIGO, the first targeted medication for Grade 2 IDH-mutant glioma, opens a new treatment pathway for patients who previously had few options.
Unlock the key to transforming your business strategy with our global report on next generation sequencing (NGS) market Insights –
Navistrat Analytics has segmented global next generation sequencing (NGS) market on the basis of product and service, technology, application, end-use, and region:
- Product and Service Outlook (Revenue, USD Billion; 2021-2031)
- NGS Platforms
- Sequencing Instruments
- Consumables and Reagents
- Sequencing Kits
- Services
- Sequencing Services
- Bioinformatics Services
- Data Management and Interpretation
- Bioinformatics Tools
- Data Analysis Software
- Cloud Computing Solutions
- NGS Platforms
- Technology Outlook (Revenue, USD Billion; 2021-2031)
- Targeted Sequencing
- Whole Genome Sequencing
- Sequencing by Synthesis (SBS)
- Nanopore Sequencing
- Ion Torrent Sequencing
- Others
- Application Outlook (Revenue, USD Billion; 2021-2031)
- Clinical Applications
- Oncology
- Tumor Profiling
- Liquid Biopsy
- Companion Diagnostics
- Reproductive Health
- Non-Invasive Prenatal Testing (NIPT)
- Preimplantation Genetic Diagnosis (PGD)
- Infectious Disease
- Pathogen Identification
- Antimicrobial Resistance Detection
- Genetic Disorders
- Rare Disease Diagnostics
- Hereditary Cancer Screening
- Oncology
- Clinical Applications
- Research Applications
- Drug Discovery and Development
- Evolutionary Biology
- Agrigenomics
- Metagenomics
- Animal and Plant Genomics
- Others
- End-Use Outlook (Revenue, USD Billion; 2021-2031)
- Academic & Research Institutions
- Hospitals and Clinics
- Pharmaceutical & Biotechnology Companies
- Contract Research Organizations (CROs)
- Regional Outlook (Revenue, USD Billion; 2021-2031)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Benelux
- Nordic Countries
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Oceania
- ASEAN Countries
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- GCC Countries
- South Africa
- Israel
- Turkey
- Rest of MEA
- North America